Statements to Certificateholders. On each Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating: (1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date; (2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date; (3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount; (4) the Principal Distribution Amount for each Group for such Distribution Date; (5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount; (6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred); (7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date; (8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred); (9) the Extraordinary Trust Expenses for such Distribution Date; and (10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 2 contracts
Samples: Trust Agreement (Banc of America Funding 2008-R3 Trust), Trust Agreement (Banc of America Funding 2008-R3 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) for each Loan Group, the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-11 Accrual Distribution Amount, the Class 21-A-3 A-16 Accrual Distribution Amount, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution, the Class 1-A-11 Accrual Distribution Amount and the Class 31-A-3 A-16 Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the Crossed Group Total Senior Percentage, the Loan Group 2 Total Senior Percentage, the Loan Group 5 Total Senior Percentage and the Crossed Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-9 Notional Amount, the Class 1-A-12 Notional Amount, the Class 1-A-15 Notional Amount, the Class 15-IO Notional Amount, the Class 30-IO Notional Amount, the Class 20-IO Notional Amount, the Class 1-30-IO Notional Amount, the Class 2-30-IO Notional Amount and the Class 5-IO Notional Amount; and
(10xvi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery; for Loan Group 4, the amount of the PO Recovery for Loan Group 4 allocated to the Class designations15-PO Certificates; for Loan Group 5, the amount of the PO Recovery for Loan Group 5 allocated to the Class Balances5-PO Certificates.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Mortgage Pass-Through Certificates Series 2004-11Trust), Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc)
Statements to Certificateholders. On each Distribution Date, the Servicer shall provide to the Trustee shall prepare and make available for the Trustee to forward to each Certificateholder and of record as of the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trusteemost recent Record Date, a statement (setting forth at least the “Distribution Statement”) statingfollowing information as to each Class of Certificates to the extent applicable:
(1i) the amount of such distribution allocable to principal of each class of Certificates;
(ii) the amount of such distribution allocable to interest of each class of Certificates;
(iii) the Pool Balance as of the close of business on the last day of the preceding Collection Period;
(iv) the Class [A] Certificate Balance and Class [B] Certificate Balance and the Class [A] Pool Factor and Class [B] Pool Factor after giving effect to all payments reported under clause (i) above on such date;
(v) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period or Collection Periods, as the case may be;
(vi) the amount of the Class [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, if any, on such Distribution Date and the change in the Class [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, from the preceding Distribution Date;
(vii) the amount of aggregate Realized Losses, if any, for the second preceding Collection Period;
(viii) the aggregate Purchase Amounts for Receivables, if any, that were repurchased in such period;
(ix) the amount otherwise distributable to the Class [B] Certificateholders that is distributed to Class [A] Certificateholders on each Class of P&I Certificates for such Distribution Date;
(2x) the amount balance of principal distributed the Reserve Account on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal deposits and any allocation of Realized Loss Shortfalls withdrawals made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10xi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since for the preceding first Distribution Date and, that is on or immediately following the end of the Funding Period (if applicableany), the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, amount of any Classes remaining Pre-Funded Amount that has not been used to fund the purchase of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by Subsequent Receivables and is passed through as payments of principal of the Certificateholder as a result of such exchangeCertificates. The Each amount set forth pursuant to subclauses (1i), (ii), (v) and or (2vi) will above shall be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder original principal balance of a Class [A] or Class [B] Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerapplicable.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Ii Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Inc)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amountallocable to interest, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Priority Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month or any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges in the case of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableClass A-WIO Certificates, the Class designationsA-WIO Notional Amount for such Distribution Date.
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Pass Through Certificates Series 2002-1)
Statements to Certificateholders. On (a) (i) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (V) and (W) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Shifting Interest Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Shifting Interest Certificates for such Distribution Date;
(2B) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Shifting Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4C) for each Shifting Interest Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5D) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Shifting Interest Loan Group, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6E) if the distribution to the Holders of such Class of Shifting Interest Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(F) the outstanding Class Certificate Balance of each Class of Shifting Interest Certificates before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) G) for each Shifting Interest Loan Group, the amount aggregate Stated Principal Balance of any Realized Loss Shortfalls allocated as of the Mortgage Loans in such Loan Group for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9H) for each Shifting Interest Loan Group, the Extraordinary Trust Expenses Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(I) the Aggregate Senior Percentage and the Aggregate Subordinate Percentage for such Distribution Date;
(J) the amount of the Servicing Fees paid to or retained by the Servicers with respect to each Shifting Interest Loan Group and such Distribution Date;
(K) the Pass-Through Rate for each such Class of Shifting Interest Certificates with respect to such Distribution Date;
(L) with respect to the Shifting Interest Mortgage Loans, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(M) for each Shifting Interest Loan Group, the number and aggregate principal amounts of Shifting Interest Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(N) for each Shifting Interest Loan Group, with respect to any Shifting Interest Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(O) for each Shifting Interest Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(P) for each Shifting Interest Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(Q) for each Shifting Interest Loan Group, the Reimbursement Amount;
(R) for each Shifting Interest Loan Group, the amount of Recoveries;
(S) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(T) any material modifications, extensions or waivers to Shifting Interest Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(U) for each Shifting Interest Loan Group, the number and aggregate Stated Principal Balance of Shifting Interest Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Shifting Interest Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(W) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice; and
(10X) whether any exchanges of Exchangeable Certificates or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designations, Class Balances, Maximum Class Certificate Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class B-1 Certificates and Class B-2 Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxx Brothers Inc., Xxxxxxx Xxxxx & Co., Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, and Salomon Brothers Inc, inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance Class B Distribution Test (as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto set forth in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(9xiii) the Extraordinary Trust Expenses Weighted Average Contract Rate of all outstanding Contracts;
(xiv) the Class M-1 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xv). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee may require registration shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount and M-1 Distribution Amount for such Remittance Date;
(iv) the Class B-1 Principal Balance and the acceptance Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xv). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass B-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
e. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class B-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-2 Certificates allocable to interest, separately identifying any Unpaid Class B-2 Interest Shortfall included in such distribution and any remaining Unpaid Class B-2 Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any Unpaid Class B-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-2 Formula Distribution Amount for such Remittance Date exceeds the Remaining Amount Available for such Remittance Date;
(iv) the Class B-2 Principal Balance after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date;
(vi) the information described above in Section 6.05(b)(vi) through (xv);
(vii) the Class B-2 Liquidation Loss Amount, if any, for such Remittance Date;
(viii) the Guarantee Payment, if any, for such Remittance Date; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group and the Class SES Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date; and, if applicable, the amount of the Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class PO Deferred Amounts for such Distribution Date;
(xv) the Extraordinary Trust Expenses Class 1-IO Notional Amount, Class 2-IO Notional Amount, Class 3-IO Notional Amount, Class 4-IO Notional Amount, Class 5-IO Notional Amount, Class 1-SES Notional Amount, Class 2-SES Notional Amount, Class 3-SES Notional Amount, Class 4-SES Notional Amount and Class 5-SES Notional Amount for such Distribution Date;
(xvi) the Ancillary Income for each Class SES Component for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Alternative Loan Trust 2003 11)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date, the Rate Determination Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Certificates for such Distribution Date;
(2ii) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4iii) for each Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5iv) the Interest Accrual Amount for each Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates (other is less than the Class 1-A-R Certificate) full amount that would be distributable on to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Holders if there were sufficient funds available therefor, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Distribution Amount shortfall and the Class 3-A-3 Accrual Distribution Amountallocation thereof as between principal and interest;
(6vi) the outstanding Class Certificate Balance of each Class of Certificates and the Component Balance of each Component before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the Pool Stated Principal Balance for the preceding Distribution Date and the related Distribution Date;
(viii) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(ix) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on the Determination Date immediately preceding such Distribution Date;
(9xii) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 1 to 30 days, 31 to 60 days, 61 to 90 days, 91 to 120 days, and for each additional 30-day period thereafter (e.g. 121 to 150 days, 151 to 180 days, etc.) up to foreclosure, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xiv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any Class PO Deferred Amounts for such Distribution Date;
(xvi) the Notional Amount for each Class of Interest Only Certificates and the notional amount for each interest only Component for such Distribution Date;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries, the Class PO Recovery and the Non-PO Recovery;
(xix) for each Loan Group, the number of Mortgage Loans at the beginning and end of the applicable reporting period, and the Net WAC and weighted average remaining term;
(xx) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and
(xxi) unless such information is otherwise set forth in the Form 10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding -D relating to such Distribution Date andand provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment due on a Due Date if applicablesuch Scheduled Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Master Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paidthe Master Servicer, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04. In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04, the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04 for such Distribution Date (a "Monthly Statement"). The Trustee Securities Administrator will make the Monthly Statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the Monthly Statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii) and (2iv) aboveof Section 5.04, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC created hereunder, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-2 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Certificates for such Distribution Date;
(2ii) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4iii) for each Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5iv) the Interest Accrual Amount for each Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates (other is less than the Class 1-A-R Certificate) full amount that would be distributable on to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Holders if there were sufficient funds available therefor, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Distribution Amount shortfall and the Class 3-A-3 Accrual Distribution Amountallocation thereof as between principal and interest;
(6vi) the outstanding Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(7vii) for each Loan Group, the Pool Stated Principal Balance for the preceding Distribution Date and the related Distribution Date;
(viii) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(ix) the Aggregate Loan Group 2 Senior Percentage, the Aggregate Loan Group 3 Senior Percentage, the Aggregate Loan Group 2 Subordinate Percentage and the Aggregate Loan Group 3 Subordinate Percentage for such Distribution Date and for the following Distribution Date;
(x) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date, the amount of the Master Servicing Fee paid to or retained by the Master Servicer with respect to each Loan Group and such Distribution Date and the amount of the premium paid by each Servicer with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of Loan covered by a PMI Policy in each Loan Group and such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on the Determination Date immediately preceding such Distribution Date;
(9xiii) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 1 to 30 days, 31 to 60 days, 61 to 90 days, 91 to 120 days, and for each additional 30-day period thereafter (e.g., 121 to 150 days, 151 to 180 days, etc.) up to foreclosure, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries;
(xix) for each Loan Group, the number of Mortgage Loans at the end of the applicable reporting period, and the Net WAC and weighted average remaining term;
(xx) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and
(xxi) unless such information is otherwise set forth in the Form 10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding -D relating to such Distribution Date andand provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment due on a Due Date if applicablesuch Scheduled Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Master Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date (a "Monthly Statement"). The Trustee Securities Administrator will make the Monthly Statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the Monthly Statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii) and (2iv) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group and the Class SES, Class 1-IO and Class 2-IO Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) the Class 1-SES Notional Amount, the Class 1-IO Notional Amount, the Class 2-SES Notional Amount and the Class 2-IO Notional Amount for such Distribution Date;
(xvi) the Ancillary Income for such Distribution Date;
(xvii) the Class SES Compensating Interest for such Distribution Date; and
(10xviii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of Recovery.
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "www.ctslink.com". Assistance in using the website can be obtained by caxxxxx xxx Xxxxxee's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Pass Thru Ser 2004-B)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 315-A-3 IO, Class 30-IO, Class SES and Class X-B Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution and the Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Group 1 Priority Percentage (if applicable), the Group 2 Priority Percentage (if applicable), the Total Senior Percentage and the Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the amount of the Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class designationsof Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, Class Balancesthe amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, Maximum Class Balances the number and any interest and aggregate principal paid, including any shortfalls allocated, amounts of any Classes Mortgage Loans (A) delinquent (exclusive of Exchangeable REMIC Certificates Mortgage Loans in foreclosure or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses bankruptcy) (1) and 1 to 30 days (2) will 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date;
(xv) the Class 2-A-3 Notional Amount, Class 30-IO Notional Amount, Class 1-30-IO Notional Amount, Class 2-30-IO Notional Amount, Class 15-IO Notional Amount, Class 3-15-IO Notional Amount, Class 4-15-IO Notional Amount, Class SES Notional Amount, Class 1-SES Notional Amount, Class 2-SES Notional Amount, Class 3-SES Notional Amount and Class 4-SES Notional Amount;
(xvi) the Ancillary Income for each Class SES Component for such Distribution Date;
(xvii) the Class SES Compensating Interest for such Distribution Date;
(xviii) in the case of the Class 1-A-3 Certificates, (a) the Deficiency Amount, if any, for such Distribution Date and (b) amounts, if any, in respect of the Deficiency Amount paid under the Policy;
(xix) in the case of the Class 1-A-3 Certificates, the amount remaining in the Reserve Fund after taking into account the Reserve Withdrawal, if any, for such Distribution Date and the amount of the Reserve Withdrawal allocated to the Class 1-A-3 Certificates; and
(xx) in the case of the Class 1-A-3 Certificates, the Rounding Amount, if any, for such Distribution Date and the amount applied to repay such Rounding Amount withdrawn for such Class on the prior Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to Radian, each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (i) and (ii) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Pass THR Certs Ser 2003 10)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, and with respect to subsections (xxii) and (xxiii) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date, the Rate Determination Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Certificates for such Distribution Date;
(2ii) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4iii) for each Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5iv) the Interest Accrual Amount for each Class Loan Group, the amount of Certificates (other than the Class 1-A-R Certificate) distributable on such Pool Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Amount allocable to interest, the Class 1-A-3 A-12 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 A-2 Accrual Distribution Amount, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to such distribution;
(6v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the outstanding Class Certificate Balance of each Class of Certificates and the Component Balance of each Component before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of such Pool Stated Principal Balance for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9viii) for each Loan Group, the Extraordinary Trust Expenses Senior Percentage, the Total Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage, the Xxxxxxxxx Xxxxxxxxxxx Xxxxxxxxxx and the Subordinate Prepayment Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates and each IO Component with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(xii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xiv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any PO Deferred Amounts for such Distribution Date;
(xvi) the Notional Amount for each Class of Interest Only Certificates and the Notional Amount for each IO Component for such Distribution Date;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries, the PO Recovery and the Non-PO Recovery;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxi) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term to maturity of the Mortgage Loans, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(xxiii) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice;
(xxiv) the Class 0-X-0 Xxxxx Xxxxxxxxxxx Agreement Payment, Class 1-A-7 Yield Maintenance Agreement Payment and the Class 1-A-13 Yield Maintenance Agreement Payment paid to the Class 1-A-1, Class 1-A-7 and Class 1-A-13 Certificates, as the case may be; and
(10xxv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Rounding Amounts for such Distribution Date andand any amounts applied to repay such Rounding Amounts withdrawn on the prior Distribution Date. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if applicablesuch Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Master Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paidthe Master Servicer, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a) (each, a "Monthly Statement"). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04, the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the Master Servicer's Certificate described in Section 4.01 for such Distribution Date. The Trustee Securities Administrator will make the Monthly Statement to Certificateholders (and, at its option, any additional files containing the same or additional information in an alternative format) available each month to Certificateholders and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the Monthly Statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii) and (2iv) aboveof Section 5.04, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC created hereunder, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-5 Trust)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xxi) and (xxii) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the amount of Servicing Advances made since the previous Distribution Date and the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date;
(xiii) for each Loan Group, the number and aggregate Stated Principal Balance of Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xvi) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xviii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. initially located at "www.ctslink.com." The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xxi) and (xxii) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the amount of Servicing Advances made since the previous Distribution Date and the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date;
(xiii) for each Loan Group, the number and aggregate Stated Principal Balance of Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xvi) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xviii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
. The Trustee will make the monthly statement to Certificateholders (2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableat its option, any additional files containing the Class designationssame information in an alternative format) available each month to Certificateholders, Class Balancesand other parties to this Agreement via the Trustee's Internet website, Maximum Class Balances initially located at "www.ctslink.com". The Trustee will also make available copies of the xxxxxxxx xxxxxxs the Trustee files with the Securities and any interest and principal paidExchange Commission, including any shortfalls allocateddistribution reports on Form 10-D, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as annual reports on Form 10-K, current reports on Form 8-K (each, a result of such exchange. The amount set forth pursuant to subclauses (1"Form 8-K") and amendments to these reports available through this website promptly (2but no later than one Business Day) will after they are filed with the Securities and Exchange Commission. Assistance in using this website can be expressed as a dollar amount per Certificate will a $1,000 Denominationobtained by calling the Trustee's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitlxx xx xxxx x xaper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii), (iv) and (2ix) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2006-a Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) for each Loan Group, the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-8 Accrual Distribution Amount, the Class 21-A-3 Accrual Distribution Amount and the Class 3-A-3 A-9 Accrual Distribution Amount, the Class 1-A-11 Accrual Distribution Amount, any Class Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage, the Total Senior Percentage, the Subordinate Percentage and the Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class PO Deferred Amounts for such Distribution Date;
(xv) the Extraordinary Trust Expenses Class 1-A-4 Notional Amount, the Class 1-A-5 Notional Amount, the Class 15-IO Notional Amount and the Class 30-IO Notional Amount;
(xvi) for each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(a) the Deficiency Amount, if any, for such Distribution Date and (b) amounts, if any, in respect of the Deficiency Amount paid under the Policy;
(xviii) the amount remaining in the Reserve Fund after taking into account the Reserve Withdrawal, if any, for such Distribution Date; and
(10xix) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Rounding Amount, if any, for such Distribution Date and, if applicableand the amount applied to repay such Rounding Amount withdrawn on the prior Distribution Date.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to Assured Guaranty, each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) Concurrently with each distribution charged to the Trust Certificate Account and with respect to each Distribution Date, Date the Certificate Administrator shall forward to the Trustee and the Trustee shall prepare and either forward by mail or make available to each Certificateholder Holder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by Company, via the Trustee's internet website, a statement (and at its option, any additional files containing the “Distribution Statement”same information in an alternative format) statingsetting forth the following information as to each Class of Trust Certificates:
(1i) the amount of interest distributed on each Class of P&I Certificates Available Funds for such Distribution Date;
(2ii) with respect to such Distribution Date, the aggregate amount of Accrued Certificate Interest, the Pass-Through Rate and the aggregate Principal Distribution Amount and the amounts of principal and interest distributed on to the Certificateholders of each Class of P&I Trust Certificates for on such Distribution Date pursuant to Section 3.04;
(iii) the aggregate amount of distributions on each class of the Class R Certificate on such Distribution Date pursuant to Section 3.04, if any;
(iv) the Certificate Principal Balance of each Class of the Class A Certificates after giving effect to distributions of principal of such Trust Certificates on such Distribution Date;
(3v) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Underlying Certificate Balance as of such Mortgage Certificate Distribution Date Date, after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in Losses with respect to the case of a Class of Exchangeable REMIC Underlying Certificates no exchanges have occurred and in applied to reduce the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for Underlying Certificate Balance thereof on such Distribution Date; and
(10vi) whether the amount of any exchanges reductions in the Certificate Principal Balance of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC A Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 DenominationClass A Loss Amount. The Trustee shall make availablemail to each Holder that requests a paper copy by telephone a paper copy via first class mail. The Trustee may modify the distribution procedures set forth in this Section 3.05 provided that such procedures are no less convenient for the Certificateholders. The Trustee shall provide prior notification to the Company, the Certificate Administrator and the Certificateholders regarding any such modification. In addition, the Certificate Administrator shall provide to any manager of a trust fund consisting of some or all of the Trust Certificates, upon reasonable request, such additional information as is reasonably obtainable by the Certificate Administrator at no additional expense to the Certificate Administrator.
(b) In addition, the Trustee promptly will furnish to Certificateholders copies of any notices, statements, reports or other communications including, without limitation, the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of Statements, received by the Certificates. Trustee as the Underlying Certificateholder.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Certificate Administrator shall furnish prepare, or cause to be prepared, and shall forward, or cause to be forwarded, to each Person who at any time during the calendar year was the Holder of a Trust Certificate, if requested in writing by such Personother than a Class R Certificate, a statement containing the information set forth in subclauses clause (1a)(ii) and (2) above, in each case above aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Certificate Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Certificate Administrator pursuant to any requirements of the Code as from Code.
(d) Within a reasonable period of time after the end of each calendar year, the Certificate Administrator shall prepare, or cause to be prepared, and shall forward, or cause to be forwarded, to each Person who at any time in forceduring the calendar year was the Holder of a Class R Certificate, a statement containing the applicable distribution information provided pursuant to this Section 3.05 (a)(iii) aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class R Certificate. The Trustee will also make available copies Such obligation of the periodic reports Certificate Administrator shall be deemed to have been satisfied to the Trustee prepares extent that substantially comparable information shall be provided by the Certificate Administrator pursuant to any requirements of the Code.
(e) The Certificate Administrator shall, on behalf of the Company and files with in respect of the Securities Trust Fund, sign and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments cause to these reports available through this website promptly (but no later than one Business Day) after they are be filed with the Securities and Exchange CommissionCommission any periodic reports required to be filed under the provisions of the Exchange Act, and the rules and regulations of the Commission thereunder. Assistance in using In connection with the above-referenced website can be obtained by calling preparation and filing of such periodic reports, the Trustee shall timely provide to the Certificate Administrator (i) a list of Certificateholders as shown on the Certificate Register as of the end of each calendar year, (ii) copies of all pleadings, other legal process and any other documents relating to any claims, charges or complaints involving the Trustee’s customer service relations desk , as trustee hereunder, or the Trust Fund that are received by the Trustee, (iii) notice of all matters that, to the actual knowledge of a Responsible Officer of the Trustee, have been submitted to a vote of the Certificateholders, other than those matters that have been submitted to a vote of the Certificateholders at the request of the Company or the Certificate Administrator, and (000iv) 000-0000notice of any failure of the Trustee to make any distribution to the Certificateholders as required pursuant to this Agreement. The Neither the Certificate Administrator nor the Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible any liability with respect to the above partiesCertificate Administrator's failure to properly prepare or file such periodic reports resulting from or relating to the Certificate Administrator's inability or failure to obtain any information not resulting from the Certificate Administrator's own negligence or willful misconduct. Any Form 10-K filed with the Commission in connection with this Section 3.05(e) shall include a certification, signed by the senior officer in charge of the servicing functions of the Certificate Administrator, in the form attached as Exhibit E hereto or such other form as may be required or permitted by the Commission (the "Form 10-K Certification"), in compliance with Rules 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. In connection with the Form 10-K Certification, the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As the Certificate Administrator with a condition to access to back-up certification substantially in the Trustee’s internet website, form attached hereto as Exhibit F. This Section 3.05(e) may be amended in accordance with this Agreement without the Trustee may require registration and consent of the acceptance of a disclaimerCertificateholders.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Group, the Senior Percentage, the Priority Percentage (if applicable) and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableClass 1-A-37 Notional Amount, the Class designations1-A-WIO Notional Amount and the Class 2-A-WIO Notional Amount for such Distribution Date.
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mor Pa Th Cert Ser 2002-6)
Statements to Certificateholders. On (a) (i) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (V) and (W) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Shifting Interest Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare related Record Date, the LIBOR Determination Date for the Class 1-A-1 and make available to each Certificateholder Class 1-A-9 Certificates and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Shifting Interest Certificates for such Distribution Date;
(2B) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Pool Distribution Amount;
(4C) the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5D) the Interest Accrual amount of the Pool Distribution Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-10 Accrual Distribution Amount, the Class 21-A-3 Accrual Distribution Amount and the Class 3-A-3 A-11 Accrual Distribution Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(6E) if the distribution to the Holders of such Class of Shifting Interest Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(F) the outstanding Class Certificate Balance of each Class of Shifting Interest Certificates before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) G) the amount aggregate Stated Principal Balance of any Realized Loss Shortfalls allocated as of such the Group 1 Mortgage Loans for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9H) the Extraordinary Trust Expenses Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(I) the amount of the Administrative Fees paid to or retained by the Servicers with respect to Loan Group 1 and such Distribution Date;
(J) the Pass-Through Rate for each such Class of Shifting Interest Certificates with respect to such Distribution Date;
(K) with respect to the Shifting Interest Certificates and Loan Group 1, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(L) the number and aggregate principal amounts of Group 1 Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(M) with respect to any Group 1 Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(N) for Loan Group 1, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(O) the aggregate amount of Realized Losses with respect to the Group 1 Mortgage Loans incurred during the preceding calendar month or any PO Deferred Amounts for such Distribution Date;
(P) the Notional Amount for each Class of Interest Only Certificates in Group 1;
(Q) for Loan Group 1, the Reimbursement Amount; 152
(R) for Loan Group 1, the amount of Recoveries, the PO Recovery and the Non-PO Recovery;
(S) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(T) any material modifications, extensions or waivers to Group 1 Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(U) for the Group 1 Mortgage Loans, the number and aggregate Stated Principal Balance, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Group 1 Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(W) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice;
(X) the Interest Rate Cap Agreement Payment paid to the Class 1-A-1 Certificates; and
(10Y) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designations, Class Certificate Balances, Maximum Class Balances Notional Amounts, Pass-Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-1 Trust)
Statements to Certificateholders. (a) On each Distribution Date, the Trustee shall prepare and make available include with each distribution to each Certificateholder and of record, a statement, prepared by the Rating Agency Servicer, based on its website at “xxxx://xxx.xxxxxxx.xxx” information in the Servicer's Certificate furnished pursuant to Section 13.10, setting forth for the related Collection Period the following information as of the last day of the related Collection Period or such other site Distribution Date, as the case may be designated by the Trustee, a statement (the “Distribution Statement”) statingbe:
(1i) the amount of interest such distribution allocable to principal;
(ii) the amount of such distribution allocable to interest;
(iii) the Pool Balance as of the close of business on the last day of such Collection Period;
(iv) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Collection Period and the Class A Percentage of the Basic Servicing Fee;
(v) the amount of the Class A Principal and Interest Carryover Shortfalls, if any, on such Distribution Date and the change in the Class A Principal and Interest Carryover Shortfalls from the immediately preceding Distribution Date;
(vi) the Pool Factor and the Class A Pool Factor as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(vii) the amount otherwise distributable to the Class B Certificateholders that is distributed to the Class A Certificateholders on each Class of P&I Certificates for such Distribution Date;
(2viii) the amount of principal distributed on each Class of P&I Certificates for deposit in the Reserve Fund on such Distribution Date, after giving effect to distributions made on such Distribution Date, and the change in such amount from the immediately preceding Distribution Date and the Specified Reserve Fund Balance;
(ix) the amount on deposit in the Payahead Account or held by the Servicer constituting Payments Ahead and the change in such amount from the immediately preceding Distribution Date;
(3x) the Group 1 Interest amount of Outstanding Advances on such Distribution Amount, the Group 2 Interest Distribution Amount Date and the Group 3 Interest Distribution Amount;
(4) change in such amount from the Principal Distribution Amount for each Group for such immediately preceding Distribution Date;
(5xi) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount A Certificate Balance and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage B Certificate Balance as of such Mortgage Certificate Distribution Date Date, after giving effect to the distribution of payments allocated to principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Datereported under clause (i) above;
(8) xii) the Yield Supplement Deposit Amount, the Maximum Yield Supplement Amount and the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming on deposit in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for Yield Supplement Account, after giving effect to distributions made on such Distribution Date; and
(10xiii) whether any exchanges the amount available under the Servicer Letter of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andCredit, if applicableany, the Class designationsServicer Letter of Credit Amount, Class Balancesif any, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder such amount as a result percentage of such exchangethe Pool Balance as of the last day of the related Collection Period. The Each amount set forth pursuant to subclauses (1i), (ii), (iv) and or (2v) will above shall be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders original principal balance of the Certificates. a Class A Certificate.
(b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Trustee shall furnish mail, to each Person who at any time during the such calendar year was the shall have been a Holder of a Class A Certificate, if requested in writing by such Person, a statement containing or statements, prepared by the information Servicer, which in the aggregate contain the sum of the amounts set forth in subclauses clauses (1i), (ii), (iv) and (2v) above, in each case aggregated above for such calendar year or or, in the event such Person shall have been a Holder of a Class A Certificate during a portion of such calendar year, for the applicable portion thereof during which of such year, for the purposes of such Certificateholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustee for distribution to such Person was a Certificateholder. Such obligation at such time any other information necessary under applicable law for the preparation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commissionsuch income tax returns, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments information relating to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimeroriginal issue discount calculation if any.
Appears in 1 contract
Samples: Standard Terms and Conditions Agreement (American Honda Receivables Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-6 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Priority Percentage and Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fees paid to or retained by the Servicers with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month, any Class A-10 Loss Allocation Amount or any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableSpecial Hazard Loss Amount, the Class designationsFraud Loss Amount and the Bankruptcy Loss Amount, Class Balancesin each case as of the related Determination Date.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by each Servicer a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 1999-9)
Statements to Certificateholders. On (a) (i) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (V) and (W) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Shifting Interest Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare related Record Date, the LIBOR Determination Date for the Class 1-A-1, Class 1-A-16, Cass 1-A-18, Class 1-A-19 and make available to each Certificateholder Class 1-A-28 Certificates and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Shifting Interest Certificates for such Distribution Date;
(2B) the Pool Distribution Amount for each Shifting Interest Loan Group;
(C) the amount of the Pool Distribution Amount for each Shifting Interest Loan Group allocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(D) the amount of the Pool Distribution Amount for each Shifting Interest Loan Group allocable to interest, the Class 1-A-20 Accrual Distribution Amount, the Class 1-A-21 Accrual Distribution Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(E) if the distribution to the Holders of such Class of Shifting Interest Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal distributed on and interest;
(F) the Class Certificate Balance of each Class of P&I Shifting Interest Certificates for before and after giving effect to the distribution of principal on such Distribution Date;
(3G) the Stated Principal Balance of the Group 1 Interest Distribution Amount, Mortgage Loans and the Group 2 Interest Mortgage Loans for the preceding Distribution Amount Date and the Group 3 Interest related Distribution AmountDate;
(4H) the Principal Distribution Amount Senior Percentage, the Total Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for each Shifting Interest Loan Group for such Distribution Date;
(5I) the amount of the Administrative Fees paid to or retained by the Servicers with respect to Loan Group 1 and Loan Group 2 and such Distribution Date;
(J) the Pass-Through Rate for each such Class of Shifting Interest Accrual Certificates with respect to such Distribution Date;
(K) the amount of Periodic Advances with respect to the Shifting Interest Mortgage Loans included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding with respect to the Shifting Interest Mortgage Loans as of the close of business on the Determination Date immediately preceding such Distribution Date;
(L) the number and aggregate principal amounts of the Shifting Interest Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(M) with respect to any Shifting Interest Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(N) for each Shifting Interest Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(O) the aggregate amount of Realized Losses with respect to the Shifting Interest Mortgage Loans incurred during the preceding calendar month or any PO Deferred Amounts for such Distribution Date;
(P) the Notional Amount for each Class of Interest Only Certificates in Group 1;
(other than the Class 1-A-R CertificateQ) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)for each Shifting Interest Loan Group, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Reimbursement Amount;
(6R) for each Shifting Interest Loan Group, the outstanding Class Balance amount of each Class of Certificates after giving effect to Recoveries, the distribution of principal PO Recovery and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Non-PO Recovery;
(7S) with respect to each Mortgage Certificateany expenses or indemnification amounts paid by the Trust, the aggregate specific purpose of each payment and the parties to whom such payments were made;
(T) any material modifications, extensions or waivers to Shifting Interest Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to Loan terms, fees, penalties or payments since the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate previous Distribution Date;
(8) U) for the amount of any Realized Loss Shortfalls allocated Shifting Interest Mortgage Loans in each Loan Group, the number and aggregate Stated Principal Balance, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date (assuming and provided that the Securities Administrator is reasonably able to include such information in the case statement, material breaches of a Class Shifting Interest Mortgage Loan representations and warranties of Exchangeable REMIC Certificates no exchanges have occurred and in which the case of a Class of Exchangeable Certificates that all exchanges have occurred)Securities Administrator has knowledge or has received written notice;
(9W) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice;
(X) the Extraordinary Trust Expenses for such Distribution DateInterest Rate Cap Agreement Payments paid to the Class 1-A-16 and Class 1-A-18 Certificates; and
(10Y) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designations, Class Certificate Balances, Maximum Class Balances Notional Amounts, Pass-Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-2 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(7v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the CB Crossed Loan Group Senior Percentage, the DB Crossed Loan Group Senior Percentage, the CB Crossed Loan Group Subordinate Percentage and the DB Crossed Loan Group Subordinate Percentage for such Distribution Date and for the following Distribution Date;
(viii) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date, the amount of the Master Servicing Fee paid to the Master Servicer with respect to each Loan Group and such Distribution Date and the amount of the premium paid by each Servicer with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of Loan covered by a PMI Policy in each Loan Group and such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9xi) for each Loan Group, the Extraordinary Trust Expenses for number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) for each Loan Group, the Reimbursement Amount; and
(10xvi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of Recoveries.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2005-H Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Group, the Senior Percentage, the Priority Percentage (if applicable) and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableClass 1-A-11 Notional Amount, the Class designations1-A-WIO Notional Amount and the Class 2-A-WIO Notional Amount for such Distribution Date
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2002-4)
Statements to Certificateholders. On (a) (i) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (V) and (W) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Shifting Interest Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Shifting Interest Certificates for such Distribution Date;
(2B) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Shifting Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4C) for each Shifting Interest Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5D) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Shifting Interest Loan Group, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6E) if the distribution to the Holders of such Class of Shifting Interest Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(F) the outstanding Class Certificate Balance of each Class of Shifting Interest Certificates before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) G) for each Shifting Interest Loan Group, the amount aggregate Stated Principal Balance of any Realized Loss Shortfalls allocated as of the Mortgage Loans in such Loan Group for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9H) for each Shifting Interest Loan Group, the Extraordinary Trust Expenses Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(I) the Crossed Loan Group Senior Percentage and the Crossed Loan Group Subordinate Percentage for such Distribution Date;
(J) the amount of the Servicing Fees paid to or retained by the Servicers with respect to each Shifting Interest Loan Group and such Distribution Date;
(K) the Pass-Through Rate for each such Class of Shifting Interest Certificates with respect to such Distribution Date;
(L) with respect to the Mortgage Loans, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(M) for each Shifting Interest Loan Group, the number and aggregate principal amounts of Shifting Interest Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(N) for each Shifting Interest Loan Group, with respect to any Shifting Interest Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(O) for each Shifting Interest Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(P) for each Shifting Interest Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(Q) for each Shifting Interest Loan Group, the Reimbursement Amount;
(R) for each Shifting Interest Loan Group, the amount of Recoveries;
(S) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(T) any material modifications, extensions or waivers to Shifting Interest Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(U) for each Shifting Interest Loan Group, the number and aggregate Stated Principal Balance of Shifting Interest Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Shifting Interest Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and
(10W) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of unless such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information is otherwise set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K D relating to such Distribution Date and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with provided that the Securities and Exchange Commission. Assistance Administrator is reasonably able to include such information in using the above-referenced website can be obtained by calling statement, material breaches of any covenants under this Agreement of which the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerSecurities Administrator has knowledge or has received written notice.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-2 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Priority Percentage and Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month or any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableSpecial Hazard Loss Amount, the Class designationsFraud Loss Amount and the Bankruptcy Loss Amount, Class Balancesin each case as of the related Determination Date.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of Amereica Mort Sec Inc Mort Pass THR Cert Ser 2000 4)
Statements to Certificateholders. On each Distribution -------------------------------- Date, the Servicer shall provide to the Trustee shall prepare and make available for the Trustee to forward to each Certificateholder and of record as of the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trusteemost recent Record Date, a statement (substantially in the “Distribution Statement”) statingform of Exhibit E setting forth at least the following information as to each Class of Certificates to the extent applicable:
(1i) the amount of such distribution allocable to principal of each class of Certificates;
(ii) the amount of such distribution allocable to interest of each class of Certificates;
(iii) the Pool Balance as of the close of business on the last day of the preceding Collection Period;
(iv) the Class A Certificate Balance and Class B Certificate Balance and the Class A Pool Factor and Class B Pool Factor after giving effect to all payments reported under clause (i) above on such date;
(v) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period or Collection Periods, as the case may be;
(vi) the amount of the Class A Principal Carryover Shortfall and Class A Interest Carryover Shortfall and Class B Principal Carryover Shortfall and Class B Interest Carryover Shortfall, as applicable, if any, on such Distribution Date and the change in the Class A Principal Carryover Shortfall and Class A Interest Carryover Shortfall and Class B Principal Carryover Shortfall and Class B Interest Carryover Shortfall, as applicable, from the preceding Distribution Date;
(vii) the amount of aggregate Realized Losses, if any, for the second preceding Collection Period;
(viii) the aggregate Purchase Amounts for Receivables, if any, that were repurchased in such period;
(ix) the amount otherwise distributable to the Class B Certificateholders that is distributed to Class A Certificateholders on each Class of P&I Certificates for such Distribution Date;
(2x) the amount balance of principal distributed the Reserve Account on each Class of P&I Certificates for such Distribution Date, after giving effect to deposits and withdrawals made on such Distribution Date;
(3xi) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount aggregate Payahead Balance and the Group 3 Interest Distribution Amount;
(4) change in such balance from the Principal Distribution Amount for each Group for such preceding Distribution Date;
(5xii) for Distribution Dates during the Interest Accrual Amount for each Class of Certificates Funding Period (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredif any), the Class 1remaining Pre-A-3 Accrual Distribution Funded Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;; and
(6xiii) for the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such first Distribution Date that is on or immediately following the end of the Funding Period (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredif any);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated remaining Pre-Funded Amount that has not been used to fund the purchase of Subsequent Receivables and is passed through as payments of such Distribution Date (assuming in principal of the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchangeCertificates. The Each amount set forth pursuant to subclauses (1i), (ii), (v) and or (2vi) will above shall be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder original principal balance of a Class A or Class B Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerapplicable.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital Ii Inc)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Servicer's Certificates delivered to the Securities Administrator pursuant to Section 4.01, and with respect to subsection (xxii) below as identified by the Depositor, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the amount of principal distributed on each Class of P&I Certificates for such Distribution Dateapplicable Record Date and Interest Accrual Period;
(3iii) the Group 1 Interest Distribution Amountfor each Class, the Group 2 Interest Distribution Amount amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (Liquidation Proceeds included therein, assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6iv) for each Class, the outstanding amount allocable to interest, any Class Balance of each Unpaid Interest Shortfall included in such distribution and any remaining Class of Certificates Unpaid Interest Shortfall after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (distribution, assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7v) with respect if the distribution to each Mortgage Certificatethe Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the aggregate Mortgage amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance as of such Mortgage Certificate Distribution Date each Class of Certificates (other than the Exchangeable Certificates) prior to and after giving effect to the distribution of principal made thereon on such Distribution Date and any allocation the Maximum Class Certificate Balance of any principal losses thereto in respect each Class of Exchangeable Certificates;
(vii) for each Loan Group, the Pool Stated Principal Balance for such Mortgage Certificate Distribution Date;
(8) viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of any Realized Loss Shortfalls allocated the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on the last day of the calendar month preceding such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(assuming xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the last day of the calendar month preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xvi) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xviii) in the case of a each Class of Exchangeable REMIC Certificates no exchanges have occurred and in Interest Only Certificates, the case of a Class of Exchangeable Certificates that all exchanges have occurred)applicable Notional Amount, if any;
(9xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Securities Administrator is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the Extraordinary number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust Expenses for such since the previous Distribution Date; and;
(10xxiv) a statement as to whether any exchanges of Exchangeable REMIC Certificates or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designationsnames, Class Certificate Balances, Notional Amounts, Maximum Class Balances Certificate Balances, Pass Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The ;
(xxv) for each Loan Group, the number and percentage (by aggregate Stated Principal Balance) of Mortgage Loans that were the subject of a Servicer Modification since the previous Distribution Date;
(xxvi) for each Loan Group, the number and percentage (by aggregate Cut-off Date Principal Balance) of Mortgage Loans that were the subject of a Servicer Modification since the Closing Date;
(xxvii) for each Loan Group, the aggregate amount of principal forgiveness as a result of a Servicer Modification since the previous Distribution Date;
(xxviii) for each Loan Group, the aggregate amount of principal forgiven in connection with any Servicer Modifications since the Closing Date;
(xxix) for each Loan Group, the percentage (by aggregate Stated Principal Balance) of Mortgage Loans that were the subject of a Servicer Modification within twelve months prior to the previous Distribution Date and are delinquent 60 days or more (averaged over the preceding six-month period);
(xxx) for each Loan Group, a statement as to the delinquency status of Mortgage Loans that were the subject of a Servicer Modification since the Closing Date;
(xxxi) for each Loan Group, the date of the most recent Servicer Modification; and
(xxxii) for each Loan Group, with respect to Mortgage Loans that were the subject of a Servicer Modification, the Mortgage Interest Rate prior to such Servicer Modification and the Mortgage Interest Rate subsequent to such Servicer Modification.
(b) No later than each Distribution Date, the Securities Administrator, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee Securities Administrator shall furnish prepare and make available to each Person who Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Securities Administrator's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.etrustee.net". The Trustee Securities Administrator will also make available copies of the availabxx xxxxxx xx xxx periodic reports the Trustee Securities Administrator prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s customer service relations desk Securities Administrator at (000312) 000904-00004839. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator and indicating such. The Trustee Securities Administrator shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition reasonable period of time after the end of each calendar year, the Securities Administrator shall furnish to access each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the Trustee’s internet websiteextent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Securities Administrator shall deliver to the Holders of Certificates any reports or information the Securities Administrator is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Trustee may require registration Holders of Certificates, and the acceptance Securities Administrator shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2008-a Trust)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificate delivered to the Trustee pursuant to Section 4.01, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the related Record Date and the Interest Accrual Period for each Class for such Distribution Date;
(ii) for each Loan Group, the related Pool Distribution Amount;
(iii) for each Loan Group, the amount of the Pool Distribution Amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(iv) for each Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the preceding Distribution Date and the related Distribution Date;
(viii) for each Loan Group, the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(ix) the Total Senior Percentage and the Total Subordinate Percentage for such Distribution Date;
(x) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date and the amount of the Trustee Fee paid to or retained by the Trustee with respect to each Loan Group and such Distribution Date;
(xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries;
(xix) for each Loan Group, the number of Mortgage Loans at the end of the applicable reporting period, and the Net WAC and weighted average remaining term;
(xx) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Trustee is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Trustee has knowledge or has received written notice; and
(xxi) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Trustee is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Trustee has knowledge or has received written notice. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment due on a Due Date if such Scheduled Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a statement (the “Distribution Statement”) stating:
(1) Financial Market Service and the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountDepositor, the Group 2 Interest Distribution Amount and information contained in the Group 3 Interest Distribution Amount;
(4statement described in Section 5.04(a) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred"Monthly Statement"), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificate delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal for each Certificate Group, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount allocable to interest for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Certificate Group, the Class 1-A-3 1A-11 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for each Loan Pool for the following Distribution Date;
(vi) the Senior Percentage, the Class 1A-12 Priority Percentage or the Class 2A-2 Priority Percentage, as applicable, and Subordinate Percentage for each Certificate Group for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)for each Loan Pool;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution for each Certificate Group on such Distribution Date and the aggregate amount of Periodic Advances outstanding for each Certificate Group as of the close of business on such Distribution Date;
(x) the number and aggregate principal amounts of Mortgage Loans in each Loan Pool (A) delinquent (exclusive of Mortgage Loans in foreclosure), (1) 1 to 30 days, (2) 31 to 60 days, (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) the total number and principal balance of any REO Properties in each Loan Pool (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for each Certificate Group for the following Distribution Date;
(xiii) the aggregate amount of Realized Losses incurred with respect to each Loan Pool during the preceding calendar month for each Certificate Group for such Distribution Date; and;
(10xiv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableSpecial Hazard Loss Amount, the Class designations, Class Balances, Maximum Class Balances Fraud Loss Amount and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Bankruptcy Loss Amount for each Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) aboveGroup, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation as of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.related Determination Date; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. (a) On each Distribution Monthly Allocation Date, the 1997-A Securitization Trustee shall prepare and make available include with each allocation or distribution to each Certificateholder of record a statement, prepared by the Servicer, based on information in the Servicer's Certificate furnished pursuant to Section 5.01(b) of the 1997-A Servicing Supplement, setting forth for the related Collection Period and such Monthly Allocation Date the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” following information as of the related Record Date or Deposit Date or such other site Monthly Allocation Date, as the case may be designated by the Trustee, a statement (the “Distribution Statement”) statingbe:
(1i) the Investor Percentage and Transferor Percentage in effect with respect to the related Collection Period;
(ii) the Certificate Distribution Amount being allocated or distributed to each Class of Certificateholders;
(iii) the amount of the Certificate Distribution Amount allocable to interest distributed on and principal of each Class of P&I Certificates for such Distribution DateCertificates, separately identifying any interest on Certificate Principal Loss Amounts and any Maturity Advances;
(2iv) the amount of principal distributed on each the Certificate Distribution Amount, if any, allocable to the Class of P&I Certificates for such Distribution DateA-1 Interest Carryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall and Class B Interest Carryover Shortfall;
(3v) the Group 1 amount, if any, of the remaining unpaid Class A-1 Interest Distribution AmountCarryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall and Class B Interest Carryover Shortfall after giving effect to the Group 2 Interest Distribution Amount and the Group 3 Interest Certificate Distribution Amount;
(4vi) the Principal Distribution Amount for each Group for such Distribution Date;
(5) Certificate Balance, the Interest Accrual Amount for Class A-1 Certificate Balance, the Class A-2 Certificate Balance, the Class A-3 Certificate Balance, the Class B Certificate Balance, the Class A-1 Certificate Factor, the Class A-2 Certificate Factor, the Class A-3 Certificate Factor, the Class B Certificate Factor and the Adjusted Certificate Balance of each Class of Certificates (other than Investor Certificates, in each case as of such Monthly Allocation Date and after giving effect to the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in allocation and/or distribution of the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Certificate Distribution Amount;
(6vii) the outstanding aggregate amount, if any, of the reimbursement of Loss Amounts included in the allocation or distribution of the Certificate Distribution Amount and the amount thereof allocated to each of the Class Balance A-1 Loss Amounts, the Class A-2 Loss Amounts, the Class A-3 Loss Amounts and the Class B Loss Amounts;
(viii) the amount, if any, of the reimbursement of Class A-1 Certificate Principal Loss Amounts, Class A-2 Certificate Principal Loss Amounts, Class A-3 Certificate Principal Loss Amounts and Class B Certificate Principal Loss Amounts included in the Certificate Distribution Amount, in each case together with the amount of accrued interest thereon;
(ix) the amount, if any, of the aggregate of unreimbursed Class of Certificates A-1 Certificate Principal Loss Amounts, Class A-2 Certificate Principal Loss Amounts, Class A-3 Certificate Principal Loss Amounts and Class B Certificate Principal Loss Amounts after giving effect to the allocation or distribution of principal and any allocation of Realized Loss Shortfalls made on such the Certificate Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Amount;
(7x) with respect to each Mortgage Certificatethe amount of any Class B Available Principal and unreimbursed Class B Available Principal, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the allocation or distribution of principal made thereon the Certificate Distribution Amount;
(xi) the Investor Percentage of the Servicing Fee allocable to the 1997-A SUBI for such Monthly Allocation Date and any allocation unpaid previous such amounts with respect to prior Monthly Allocations Dates;
(xii) the amount of any principal losses Required Amount included in the Certificate Distribution Amount and the balance on deposit in the Reserve Fund and the Class B Interest Reserve Amount on such Monthly Allocation Date, after giving effect to withdrawals therefrom and deposits thereto on such Monthly Allocation Date, the change in such balance from the immediately preceding Monthly Allocation Date and the Specified Reserve Fund Balance;
(xiii) the amount of Transferor Amounts, if any, included in the Certificate Distribution Amount;
(xiv) the Aggregate Net Investment Value as of the end of such Collection Period;
(xv) the aggregate amount of Payments Ahead received by the Servicer and being held thereby or on deposit in the SUBI Collection Account in respect of future Collection Periods and the change in such Mortgage Certificate Distribution amount from the immediately preceding Monthly Allocation Date;
(8) xvi) the amount of any Realized Loss Shortfalls allocated Advances and Maturity Advances made, and the amount of unreimbursed Advances and Maturity Advances outstanding after giving effect to the allocation or distribution of the Certificate Distribution Amount;
(xvii) the weighted average Contract Rate of the Contracts in the 1997-A SUBI Portfolio for the immediately preceding Collection Period, the Charge-off Rate and Delinquency Percentage for each of the three immediately preceding Collection Periods;
(xviii) Whether the "Residual Value Test" is satisfied, separately stating (A) whether with respect to the related Collection Period the number of Leased Vehicles returned to the Servicer during such period relating to Contracts that became Matured Contracts during such period is greater than 25% of all Contracts that, as of their respective origination dates, had been scheduled to become Matured Contracts during such Distribution Date period (assuming provided that at least 500 such Contracts had been scheduled to become Matured Contracts during such Collection Period), and (B) whether the average Net Matured Leased Vehicle Proceeds during the three immediately preceding calendar months (or the months of August and September 1997 in the case of a Class the October 1997 Determination Date) is less than 75% of Exchangeable REMIC Certificates no exchanges have occurred the average Residual Values of Leased Vehicles disposed of or liquidated during such period; provided, however, that such statement with respect to the Monthly Allocation Date in September 1997 may include only information with respect to the 1997-A SUBI Assets as of the Cut-off Date and with respect to the 1997-A SUBI Certificateholders' Account Interest Deposit, and that such statement with respect to the Monthly Allocation Date in October 1997 will include all such information with respect to the Monthly Allocation Dates in September 1997 and in the case October 1997 reported separately. Any Certificate Owner may obtain a copy of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for any such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocatedstatement, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth Servicer's Certificate required pursuant to subclauses (1Section 5.01(b) of the 1997-A SUBI Servicing Supplement, any annual report of Independent Accountants required pursuant to Section 5.02 of the 1997-A SUBI Servicing Supplement, and (2) will be expressed as a dollar amount per of any annual Officer's Certificate will a $1,000 Denomination. The Trustee shall make availablerequired pursuant to Section 5.03 of the 1997-A SUBI Servicing Supplement, upon request, copies of written request to the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of 1997-A Securitization Trustee at the Certificates. Corporate Trust Office.
(b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the 1997-A Securitization Trustee shall furnish mail to each Person who at any time during the such calendar year was the shall have been a Holder of a an Investor Certificate, if requested in writing by such Person, a statement containing or statements which in the information aggregate contain the sum of the amounts set forth in subclauses clauses (1iii), (ix) and (2xi) above, in each case aggregated Section 3.03(a) for such calendar year or or, in the event such Person shall have been a Holder of an Investor Certificate during a portion of such calendar year, for the applicable portion thereof during which of such year, for the purposes of such Certificateholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the 1997-A Securitization Trustee for distribution to such Person was a Certificateholder. Such obligation at such time any other information reasonably necessary under applicable law for the preparation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerincome tax returns.
Appears in 1 contract
Samples: 1997 a Securitization Trust Agreement (Toyota Auto Lease Trust 1997-A)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than and the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)IO, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount IO and Class 4-IO Certificates, the amount allocable to interest, any Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) the Extraordinary Trust Expenses Class 1-IO Notional Amount, the Class 2-IO Notional Amount and the Class 4-IO Notional Amount for such Distribution Date; and
(10xvi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of Recovery.
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "www.ctslink.com". Assistance in using the website can be obtained by caxxxxx xxx Xxxxxee's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
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Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than and the Class 130-A-R Certificate) distributable on such Distribution Date (assuming in IO Certificates, the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)amount allocable to interest, the Class 1-A-3 Accrual Distribution Amount, the Class 21-A-3 A-9 Accrual Distribution Amount Amount, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution and the Class 3-A-3 Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date;
(xv) the Class 30-IO Notional Amount, Class 1-30-IO Notional Amount and Class 2-30-IO Notional Amount; and
(10xvi) whether any exchanges for each Loan Group, the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsA-PO Recovery and the Non-PO Recovery;
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) for each Group and the Class 15-IO, Class 30-IO, Class 30-B, Class X-B and Class 15-B Certificates, the amount of principal distributed on each allocable to interest, the Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest 5-A-11 Accrual Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 A-13 Accrual Distribution Amount, the Class 25-A-3 Accrual Distribution Amount and the Class 3-A-3 A-14 Accrual Distribution Amount, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the 30 Year Crossed Total Senior Percentage, the California Crossed Total Senior Percentage, the 15 Year Crossed Total Senior Percentage, the 30 Year Crossed Aggregate Subordinate Percentage, the California Aggregate Subordinate Percentage and the 15 Year Crossed Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(assuming x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-12 Notional Amount, the Class 5-A-7 Notional Amount, the Class 5-A-15 Notional Amount, the Class 15-IO Notional Amount, Class 30-IO Notional Amount, Class 1-30-IO Notional Amount, Class 2-30-IO Notional Amount, Class 3-15-IO Notional Amount, Class 4-15-IO Notional Amount, Class 5-30-IO Notional Amount, Class 6-15-IO Notional Amount and Class 7-15-IO Notional Amount;
(xvi) for each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery; for Loan Group 3, the amount of the PO Recovery for Loan Group 3 allocated to the Class 3-15-PO Component and the Class 3-X-PO Component; for Loan Group 4, the amount of the PO Recovery for Loan Group 4 allocated to the Class 4-15-PO Component and the Class 4-X-PO Component; for Loan Group 6, the amount of the PO Recovery for Loan Group 6 allocated to the Class 6-15-PO Component and the Class 6-X-PO Component; and for Loan Group 7, the amount of the PO Recovery for Loan Group 7 allocated to the Class 7-15-PO Component and the Class 7-X-PO Component.;
(xvii) in the case of a the Class 5-A-16 Certificates, (a) the Deficiency Amount, if any, for such Distribution Date and (b) amounts, if any, in respect of Exchangeable REMIC Certificates no exchanges have occurred and the Deficiency Amount paid under the Policy;
(xviii) in the case of a the Class 5-A-16 Certificates, the amount remaining in the Reserve Fund after taking into account the Reserve Withdrawal, if any, for such Distribution Date and the amount of Exchangeable Certificates that all exchanges have occurred)the Reserve Withdrawal allocated to the Class 5-A-15 Certificates;
(9xix) in the Extraordinary Trust Expenses case of the Class 1-A-11 Certificates, the applicable Rounding Amount, if any, for such Distribution Date and the amount applied to repay such Rounding Amount withdrawn for such Class on the prior Distribution Date; and
(10xx) whether any exchanges in the case of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class 5-A-16 Certificates, the applicable Rounding Amount, if any, for such Distribution Date and, if applicableand the amount applied to repay such Rounding Amount withdrawn for such Class on the prior Distribution Date.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to MBIA, each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
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Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificate delivered to the Trustee pursuant to Section 4.01, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the related Record Date and the Interest Accrual Period for each Class for such Distribution Date;
(ii) for each Loan Group, the related Pool Distribution Amount;
(iii) for each Loan Group, the amount of the Pool Distribution Amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(iv) for each Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the preceding Distribution Date and the related Distribution Date;
(viii) for each Loan Group, the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(ix) the Total Senior Percentage and the Total Subordinate Percentage for such Distribution Date;
(x) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date and the amount of the Trustee Fee paid to or retained by the Trustee with respect to each Loan Group and such Distribution Date;
(xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries;
(xix) for each Loan Group, the number of Mortgage Loans at the end of the applicable reporting period, and the Net WAC and weighted average remaining term;
(xx) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Trustee is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Trustee has knowledge or has received written notice; and
(xxi) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Trustee is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Trustee has knowledge or has received written notice. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment due on a Due Date if such Scheduled Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a statement (the “Distribution Statement”) stating:
(1) Financial Market Service and the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountDepositor, the Group 2 Interest Distribution Amount and information contained in the Group 3 Interest Distribution Amount;
(4statement described in Section 5.04(a) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred"Monthly Statement"), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make the Monthly Statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available copies of the periodic reports the Trustee prepares each month to Certificateholders, and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments other parties to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling Agreement via the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.'s Internet
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-E Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) for each Loan Group, the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 CB-8 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-CB-2 Notional Amount, Class 1-CB-IO Notional Amount, Class 2-CB-IO Notional Amount, Class 3-CB-IO Notional Amount, Class 4-A-2 Notional Amount and Class 4-IO Notional Amount for such Distribution Date;
(xvi) the Yield Maintenance Agreement Payments received from the Counterparty and Yield Maintenance Amounts and Yield Maintenance Amount Shortfalls paid to the Class 1-CB-1 and Class 4-A-1 Certificates; and
(10xvii) whether any exchanges for each Loan Group the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsPO Recovery and the Non-PO Recovery.
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) (i) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on each Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (W) and (X) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Shifting Interest Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Shifting Interest Certificates for such Distribution Date;
(2B) the Pool Distribution Amount for each Shifting Interest Loan Group;
(C) the amount of the Pool Distribution Amount for each Shifting Interest Loan Group allocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(D) the amount of the Pool Distribution Amount for each Shifting Interest Loan Group allocable to interest and for each Related Group, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(E) if the distribution to the Holders of such Class of Shifting Interest Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal distributed on and interest;
(F) the Class Certificate Balance of each Class of P&I Shifting Interest Certificates for and the Component Balance of each Component before and after giving effect to the distribution of principal on such Distribution Date;
(3G) the Stated Principal Balance of the Group 1 Interest Distribution AmountMortgage Loans, the Group 2 Interest Distribution Amount Mortgage Loans and the Group 3 Interest Mortgage Loans for the preceding Distribution AmountDate and the related Distribution Date;
(4H) the Principal Distribution Amount Senior Percentage, the Crossed Loan Group Senior Percentage, the Senior Prepayment Percentage, the Crossed Loan Group Subordinate Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for each Shifting Interest Loan Group for such Distribution Date;
(5I) the Interest Accrual Amount amount of the Administrative Fees paid to or retained by the Servicers with respect to Loan Group 1, Loan Group 2 and Loan Group 3 and such Distribution Date;
(J) the amount of the WMMSC Master Servicing Fee paid to the WMMSC Master Servicer with respect to such Distribution Date;
(K) the Pass-Through Rate for each such Class of Shifting Interest Certificates and each Component with respect to such Distribution Date;
(other than L) the amount of Periodic Advances with respect to the Mortgage Loans included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding with respect to the Mortgage Loans as of the close of business on the Determination Date immediately preceding such Distribution Date;
(M) the number and aggregate principal amounts of the Shifting Interest Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(N) with respect to any Shifting Interest Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(O) for each Shifting Interest Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(P) the aggregate amount of Realized Losses with respect to the Shifting Interest Loan Group incurred during the preceding calendar month and any PO Deferred Amounts for each of Group 1 and Group 2 for such Distribution Date;
(Q) the Class 1-AX-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution IO Notional Amount, the Class 2-A-3 Accrual Distribution X-IO Notional Amount and the Class 3X-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on IO Notional Amount for such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) R) for each Shifting Interest Loan Group, the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution DateReimbursement Amounts; and
(10S) whether for each Shifting Interest Loan Group, the amount of Recoveries, the PO Recovery and the Non-PO Recovery;
(T) any exchanges expenses or indemnification amounts paid by the Trust, the specific purpose of Exchangeable each payment and the parties to whom such payments were made;
(U) any material modifications, extensions or Exchangeable REMIC Certificates have taken place waivers to Shifting Interest Mortgage Loan terms, fees, penalties or payments since the preceding previous Distribution Date and, if applicableDate;
(V) for the Shifting Interest Mortgage Loans in each Loan Group, the Class designationsnumber and aggregate Stated Principal Balance, Class Balancesthe weighted average Mortgage Interest Rate, Maximum Class Balances and any interest and principal paidthe weighted average remaining term, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder each as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders close of business on the last day of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by month preceding such Person, a statement containing the Distribution Date;
(W) unless such information is otherwise set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-DD relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, annual reports on material breaches of Shifting Interest Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and
(X) unless such information is otherwise set forth in the Form 10-K, current reports on Form 8-K D relating to such Distribution Date and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with provided that the Securities and Exchange Commission. Assistance Administrator is reasonably able to include such information in using the above-referenced website can be obtained by calling statement, material breaches of any covenants under this Agreement of which the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerSecurities Administrator has knowledge or has received written notice.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-3 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group and the Class SES Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date; and, if applicable, the amount of the Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class PO Deferred Amounts for such Distribution Date;
(xv) the Extraordinary Trust Expenses Class 1-CB-WIO Notional Amount, Class 2-NC-WIO Notional Amount, Class 3-A-WIO Notional Amount, Class 1-CB-SES Notional Amount, Class 2-NC-SES Notional Amount and Class 3-SES Notional Amount for such Distribution Date;
(xvi) the Ancillary Income for each Class SES Component for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Alternative Loan Tr 2003-8)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the Crossed Group Total Senior Percentage, the Loan Group 2 Total Senior Percentage, the Loan Group 5 Total Senior Percentage and the Crossed Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(assuming x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-9 Notional Amount, the Class 1-B-IO Notional Amount, the Class 5-B-IO Notional Amount, the Class 15-IO Notional Amount, the Class 30-IO Notional Amount, the Class 20-IO Notional Amount, the Class 1-30-IO Notional Amount, the Class 2-30-IO Notional Amount and the Class 5-IO Notional Amount;
(xvi) for each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery; for Loan Group 3, the amount of the PO Recovery for Loan Group 3 allocated to the Class 3-X-PO Component and the Class 15-PO Certificates; for Loan Group 5, the amount of the PO Recovery for Loan Group 5 allocated to the Class 5-X-PO Component and the Class 5-PO Certificates;
(xvii) in the case of a the Class of Exchangeable REMIC Certificates no exchanges have occurred and in 1-A-7 Certificates, the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses applicable Rounding Amount, if any, for such Distribution Date and the amount applied to repay such Rounding Amount withdrawn for such Class on the prior Distribution Date; and
(10xviii) whether any exchanges in the case of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class 1-A-13 Certificates, the applicable Rounding Amount, if any, for such Distribution Date and, if applicableand the amount applied to repay such Rounding Amount withdrawn for such Class on the prior Distribution Date.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, the Class 7-CE Distributable Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) with respect to the Shifting Interest Certificates, if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(v) for Loan Group 7, the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(vi) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vii) with respect to each Mortgage CertificateShifting Interest Loan Group, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Senior Percentage for each Loan Group, and the Subordinate Percentage for the following Distribution Date after giving effect to Date, the distribution of principal made thereon CB Crossed Loan Group Senior Percentage, the CB Crossed Loan Group Subordinate Percentage, the DB Crossed Loan Group Senior Percentage and any allocation of any principal losses thereto in respect of such Mortgage Certificate the DB Crossed Loan Group Subordinate Percentage for the following Distribution Date;
(8) viii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9xi) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Shifting Interest Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xv) the Extraordinary Trust Expenses Notional Amount for each Class of Interest-Only Certificate for such Distribution Date;
(xvi) the Accrued Certificate Interest in respect of each Class of Group 7 Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) with respect to Loan Group 7, the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date, the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Stated Principal Balance of Loan Group 7;
(xix) the Available Funds;
(xx) for each Loan Group, the aggregate amount of Realized Losses or Applied Realized Loss Amounts, as applicable, incurred during the preceding calendar month and for each Group for such Distribution Date separately identifying any reduction thereof due to the allocations of Realized Losses or Applied Realized Loss Amounts; and
(10xxi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of Recoveries.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificates, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.06(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.06(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.06(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.06(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based solely upon the information provided to the Certificate Administrator by the Master Servicer and on each Servicer's Certificate delivered to the Master Servicer pursuant to Section 4.01, the Trustee Certificate Administrator shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (as to the “distributions to be made on such Distribution Statement”) statingDate containing the following information with respect to such Distribution Date:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal distributed on each Class of P&I Certificates for such Distribution Dateand interest;
(3vi) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(viii) for each Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(x) the amount of the Certificate Administrator Fee retained by the Certificate Administrator with respect to such Distribution Date;
(xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xiii) the amount of Servicing Advances made since the previous Distribution Date and the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date;
(xiv) the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net WAC for each Loan Group, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) in 30-day increments until foreclosure or other disposition (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xvi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xvii) for each Loan Group, the total number and principal balance of any REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xviii) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xix) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xx) for each Loan Group, the amount of any Realized Loss Shortfalls allocated Subsequent Recoveries;
(xxi) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xxii) any material modifications, extensions or waivers as to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxiii) unless such information is set forth in the Form 10-D relating to such Distribution Date or a prior Form 8-K and provided the Certificate Administrator is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiv) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Certificate Administrator shall make available on its website at www.usbank.com.mbs a statement substantially in the form of Exhibit T hereto (the "Distribution Date Statement") setting forth the information set forth in Section 5.04(a) and shall make available a copy of such Distribution Date (assuming Statement to the Trustee. Upon written request, the Certificate Administrator shall mail a paper copy of the Distribution Date Statement to any Person that is unable to use www.usbank.com.mbs. The Certificate Administrator shall have the right to change the way statements are distributed in order to make such distribution more convenient and/or accessible to the Certificateholders and the Rating Agencies, and the Certificate Administrator shall provide timely notice to all regarding such changes. In the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth information furnished pursuant to subclauses clauses (1iii), (iv) and (2xii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee On each Distribution Date, the Certificate Administrator shall make availableprepare and furnish to the Financial Market Service, in electronic or such other format and media mutually agreed upon requestby the Certificate Administrator, copies of the Underlying Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesDate. Within a reasonable period of time after the end of each calendar year, the Trustee Certificate Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.clauses
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2007-A)
Statements to Certificateholders. On each Distribution Date, the Trustee (a) The Servicer shall prepare and make available furnish to each Certificateholder the Trustee and the Rating Agency Certificate Insurer the statements specified below relating to the Class A Certificates, Class A-IO, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated before the third Business Day next preceding each Remittance Date. The Trustee and the Servicer shall inform any Certificateholder or any Underwriter inquiring by telephone of the information contained in the most recent Monthly Report.
(b) Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate or Class A-IO Certificate and (if the Originator is not the Servicer) the Originator a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on each such distribution to Holders of the Class of P&I A Certificates for and Class A-IO Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall and Unpaid Class A-IO Interest Shortfall included in such Distribution Datedistribution and any remaining Unpaid Class A Interest Shortfall and Unpaid Class A-IO Interest Shortfall after giving effect to such distribution;
(2ii) the amount of principal distributed on each such distribution to Holders of Class A Certificates allocable to principal, separately identifying the aggregate amount of P&I Certificates for any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such Distribution Datedistribution;
(3iii) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Class A Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount Balance and the Class 3A-A-3 Accrual Distribution IO Notional Principal Amount;
(6) the outstanding Class Balance of each Class of Certificates , after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(iv) the Class A Percentage for such Remittance Date and the following Remittance Date;
(v) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vi) the Pool Factor;
(vii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(viii) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date, the number of repossessed Manufactured Homes that remain in inventory as of the last day of the related Due Period and repossessed Manufactured Homes purchased by the Originator or a subsidiary of the Originator from the Trust (during the related Due Period and cumulatively) by number of Contracts, aggregate Scheduled Principal Balance of such Contracts and aggregate purchase price;
(ix) number of Contracts and aggregate Scheduled Principal Balance of Contracts extended or otherwise amended during the Due Period preceding current Remittance Date.
(x) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit M hereto);
(7xi) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit M hereto);
(xii) the Class B Distribution Test (as set forth in Exhibit M hereto);
(xiii) the Weighted Average Contract Rate and Adjusted Weighted Average Contract Rate;
(xiv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) xv) the Class M-2 Interest Deficiency Amount, if any, for such Remittance Date;
(xvi) the Class B-1 Interest Deficiency Amount, if any, for such Remittance Date;
(xvii) the Overcollateralization Amount, if any, for such Remittance Date, the Requisite Reserve Fund Amount, if any, and the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming cash, if any, on deposit in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution DateReserve Fund; and
(10xviii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Additional Principal Distribution Date andAmount, if applicableany, to be distributed on such Remittance Date pursuant to Section 8.03(a)(xiv). In the case of information furnished pursuant to clauses (i) through (iii) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will or Class A-IO Certificate with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificatesdenomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
(c) On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee may require registration shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(d) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(e) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(f) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2 and Class B-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-2 Certificates allocable to interest, separately identifying any Unpaid Class B-2 Interest Shortfall included in such distribution and any remaining Unpaid Class B-2 Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any Unpaid Class B-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-2 Formula Distribution Amount for such Remittance Date exceeds the Remaining Amount Available for such Remittance Date;
(iv) the Class B-2 Principal Balance and Class B-2 Adjusted Principal Balance, if different, after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date;
(vi) the information described above in Section 6.05(b)(v) through (xviii);
(vii) the Class B-2 Liquidation Loss Amount, if any, for such Remittance Date;
(viii) the Weighted Average Contract Rate of all outstanding Contracts. In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-2 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-2 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(g) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-3I Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2, Class B-1 and Class B-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-3I Certificateholders as part of the Monthly Report, the following information:
(i) the Class B-3I Formula Distribution Amount for such Remittance Date; and
(ii) the Class B-3I Distribution Amount for such Remittance Date.
(h) Copies of all reports provided to the Trustee for the Certificateholders shall also be provided to Standard & Poor's, Moody's and Fitch, to the Certificate Insurer and to the Class C Certificateholders. In addition, Certificate Owners may receive copies of any reports provided to the Trustee for the Certificateholders, upon written request together with a certification that they are Certificate Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates and Component Balance of each Component after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the Senior Percentage for Loan Group 1, the Crossed Loan Group Senior Percentage, the Loan Group 1 Subordinate Percentage and the CB Crossed Loan Group Subordinate Percentage for such Distribution Date and for the following Distribution Date;
(viii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date (assuming in and the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Master Servicing Fee paid to the Master Servicer with respect to such Distribution Date;
(9ix) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(xi) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) the Notional Amount for each Class of Interest Only Certificates and the Notional Amount for each Interest Only Component for such Distribution Date;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date and the Cap Carryover Amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xvii) the amount of Net Deferred Interest added to the Class Certificate Balance of any Class of Certificates or the Component Balance of any Component;
(xviii) for each Loan Group, the Reimbursement Amount; and
(10xix) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of Recoveries.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-F Trust)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxxx Xxxxx & Co., Xxxxxxx Lynch, Xxxxxx, Xxxxxx & Xxxxx Incorporated, Xxxxxx Brothers Inc. and Salomon Brothers Inc, inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance Class B Distribution Test (as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto set forth in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(9xiii) the Extraordinary Trust Expenses Weighted Average Contract Rate of all outstanding Contracts;
(xiv) the Class M-1 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the Trustee may require registration following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the acceptance Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of a disclaimerprincipal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xv).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. On Concurrently with each Distribution Datedistribution to Investor Certificateholders, the Trustee shall prepare and make available forward to each Certificateholder Investor Certificateholder, the Servicer and the each Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated a statement prepared by the Trustee, a statement (the “Distribution Statement”) statingServicer pursuant to Section 4.01 with respect to such distribution setting forth:
(1i) the amount of interest distributed on each Class of P&I Certificates Investor Floating Allocation Percentage for such Distribution Datethe preceding Collection Period;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest A Certificate Distribution Amount;
(4iii) the Principal Distribution Amount for each Group amount of Class A Certificate Interest in such distribution, the related Class A Certificate Rate and the Class S Certificate Interest;
(iv) the amount, if any, of any Unpaid Class A Certificate Interest Shortfall or any Unpaid Class S Certificate Interest Shortfall in such distribution;
(v) the amount, if any, of the remaining Unpaid Class A Certificate Interest Shortfall after giving effect to such distribution;
(vi) the amount, if any, of principal in such distribution, separately stating the components thereof;
(vii) the amount, if any, of the reimbursement of previous Investor Loss Reduction Amounts in such distribution;
(viii) the amount, if any, of the aggregate of unreimbursed Investor Loss Reduction Amounts after giving effect to such distribution;
(ix) the Servicing Fee for such Distribution Payment Date;
(5x) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Invested Amount, the Class 2-A-3 Accrual Distribution Amount A Certificate Principal Balance and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of Pool Factor, each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)distribution;
(7xi) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Pool Balance as of such the end of the preceding Collection Period and the aggregate of the Asset Balances of the Mortgage Loans at the close of business on the last day of the related Collection Period;
(xii) the Credit Enhancement Draw Amount, if any;
(xiii) the number and aggregate Asset Balances of Mortgage Loans as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, as of the end of the preceding Collection Period;
(xiv) the book value (within the meaning of 12 C.F.R. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure;
(xv) the Class A Certificate Distribution Date after giving effect Rate applicable to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution on the following Payment Date;
(8) xvi) the number and principal balances of any Mortgage Loans retransferred to the Transferor pursuant to (a) Section 2.04 and (b) Section 2.06;
(xvii) the amount of any Realized Loss Shortfalls allocated as of Transferor Available Funds, if any, included in such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Datedistribution; and
(10xviii) whether any exchanges the Transferor Subordinated Amount for the following Payment Date. In the case of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth information furnished pursuant to subclauses clauses (1ii), (iii) in respect of Class A Certificate Interest, (iv) and (2viii) will above, the amounts shall be expressed as a dollar amount per Investor Certificate will with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificatesdenomination. Within a reasonable period of time 60 days after the end of each calendar year, the Servicer shall prepare or cause to be prepared and shall forward to the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii) and (2vi) above, in each case above aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer or a Paying Agent pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000Code. The Trustee shall have prepare or cause to be prepared (in a manner consistent with the right treatment of the Class A Certificates as indebtedness of the Transferor, or as may be otherwise required by Section 3.15) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to change the way such statements are distributed be filed or furnished to Certificateholders in order to make such distribution more convenient and/or more accessible to the above parties, and respect of distributions by the Trustee (or the Paying Agent) on the Class A Certificates and shall provide timely file and adequate notification to all above parties regarding any distribute such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerforms as required by law.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Securities Inc/)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group and the Class SES and Class 1-IO Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) the Class 1-SES Notional Amount, the Class 1-IO Notional Amount, the Class 2-A-IO Notional Amount for such Distribution Date, the Class 2-SES Notional Amount and the Class 3-SES Notional Amount for such Distribution Date;
(xvi) the Ancillary Income for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Series 2003 I)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxx Brothers Inc., X.X. Xxxxxx Securities Inc. and Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on each such distribution to Holders of Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of P&I such distribution to Holders of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiv) the Weighted Average Contract Rate of all outstanding Contracts;
(xv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9xvi) the Extraordinary Trust Expenses Class M-2 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A-1 Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A-1 Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Class M-1 Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee may require registration shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-2 Formula Distribution Amount for such Remittance Date exceeds the Class M-2 Distribution Amount for such Remittance Date;
(iv) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-2 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
e. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-1 Formula Distribution Amount for such Remittance Date exceeds the Class B-1 Distribution Amount for such Remittance Date;
(iv) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
f. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2 and Class B-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-2 Certificates allocable to interest, separately identifying any Unpaid Class B-2 Interest Shortfall included in such distribution and any remaining Unpaid Class B-2 Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any Unpaid Class B-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-2 Formula Distribution Amount for such Remittance Date exceeds the Remaining Amount Available for such Remittance Date;
(iv) the Class B-2 Principal Balance after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date;
(vi) the information described above in Section 6.05(b)(vi) through (xvii);
(vii) the Class B-2 Liquidation Loss Amount, if any, for such Remittance Date;
(viii) the Guarantee Payment, if any, for such Remittance Date; and
(ix) the Weighted Average Contract Rate of all outstanding Contracts. In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-2 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-2 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-2 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
g. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-3I Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2, Class B-1 and Class B-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-3I Certificateholders as part of the Monthly Report, the following information:
(i) the Class B-3I Formula Distribution Amount for such Remittance Date, including any Unpaid Class B-3I Shortfall immediately prior to such Remittance Date;
(ii) the Class B-3I Distribution Amount for such Remittance Date; and
(iii) the Unpaid Class B-3I Shortfall immediately following such Distribution Date.
h. Copies of all reports provided to the Trustee for the Certificateholders shall also be provided to the Rating Agencies and to the Class C Certificateholders. In addition, Certificate Owners may receive copies of any reports provided to the Trustee for the Certificateholders, upon written request together with a certification that they are Certificate Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-9 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Priority Percentage and Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fees paid to or retained by the Servicers with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month or any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableSpecial Hazard Loss Amount, the Class designationsFraud Loss Amount and the Bankruptcy Loss Amount, Class Balancesin each case as of the related Determination Date.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by each Servicer a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pas Thru Cert Ser 1999-11)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxx Brothers Inc., Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated and Salomon Brothers Inc, inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiv) the Weighted Average Contract Rate of all outstanding Contracts;
(xv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9xvi) the Extraordinary Trust Expenses Class M-2 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee may require registration shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Distribution Amount andClass M-2 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount for such Remittance Date;
(iv) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-2 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
e. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A Distribution Amount, Class M-1 Distribution Amount and M-2 Distribution Amount for such Remittance Date;
(iv) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xv). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-1 Certificate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class 1-CB-IO Notional Amount, Class 2-CB-IO Notional Amount, Class 3-A-2 Notional Amount, Class 3-IO Notional Amount, Class 4-CB-IO Notional Amount, Class 5-CB-IO Notional Amount, Class 6-IO Notional Amount and Class CB-IO Notional Amount for such Distribution Date;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date; and
(xxiv) the Yield Maintenance Agreement Payment received from the Counterparty and paid to the Class 3-A-1 Certificates.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.ctslink.com". The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-3)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group and the Class SES and Class WIO Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Ratio Strip Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-SES Notional Amount, the Class 1-A-WIO Notional Amount, the Class 2-SES Notional Amount, the Class 2-WIO Notional Amount, the Class 3-SES Notional Amount, the Class 3-WIO Notional Amount, the Class 4-SES Notional Amount and the Class 4-WIO Notional Amount for such Distribution Date;
(xvi) the Class SES Distributable Amount for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Ps THR Certs Ser 2003-E)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for Group 1, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class 1-A-3 Notional Amount, Class 1-A-7 Notional Amount, Class 1-A-13 Notional Amount, Class 1-A-16 Notional Amount and Class 30-IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date; and
(xxiv) the Yield Maintenance Agreement Payment received from the Counterparty and paid to the Class 1-A-1 Certificates.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.ctslink.com". The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2006-3 Trust)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, Xxxxxx Brothers Inc. and Banc of America Securities LLC inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Originator is not the Servicer) the Originator a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiv) the Weighted Average Contract Rate of all outstanding Contracts;
(xv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9xvi) the Extraordinary Trust Expenses Class M-2 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Class M-1 Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee may require registration and shall furnish or cause to be furnished to each Person who at any time during the acceptance calendar year was the Holder of a disclaimerClass M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date:
(i) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder related Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Certificates for such Distribution Date;
(2ii) the amount of principal distributed on for each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution AmountLoan Group, the Group 2 Interest Distribution Amount and the Group 3 Interest related Pool Distribution Amount;
(4iii) for each Loan Group, the Principal amount of the Pool Distribution Amount for each Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5iv) the Interest Accrual Amount for each Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates (other is less than the Class 1-A-R Certificate) full amount that would be distributable on to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Holders if there were sufficient funds available therefor, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Distribution Amount shortfall and the Class 3-A-3 Accrual Distribution Amountallocation thereof as between principal and interest;
(6vi) the outstanding Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of such Pool Stated Principal Balance for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9viii) for each Loan Group, the Extraordinary Trust Expenses Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(ix) the Total Senior Percentage and the Total Subordinate Percentage for such Distribution Date;
(x) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date and the amount of the Securities Administration Fee paid to or retained by the Securities Administrator with respect to each Loan Group and such Distribution Date;
(xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregated Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xvii) for each Loan Group, the Reimbursement Amount;
(xviii) for each Loan Group, the amount of Recoveries;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxi) for each Loan Group, the number and aggregate Stated Principal Balance of Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term, and cumulative Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice; and
(xxiii) unless such information is otherwise set forth in the Form 10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding -D relating to such Distribution Date andand provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if applicablesuch Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a) (a "Monthly Statement"). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee Securities Administrator shall furnish prepare and make available to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Securities Administrator, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1) and (2) above, the Servicer's Certificate described in each case aggregated Section 4.01 for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-F Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Group, the Senior Percentage, the Priority Percentage (if applicable) and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class 1-A-7 Notional Amount for such Distribution Date and, if applicableDate
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mort Ps THR Cert Ser 2002-3)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance and Pool Principal Balance (Non-Ratio Strip Portion) for the following Distribution Date;
(vi) for each Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date; and
(10xiv) whether any exchanges for each Loan Group, the aggregate amount of Exchangeable or Exchangeable REMIC Certificates have taken place since Realized Losses incurred during the preceding calendar month or any Ratio Strip Deferred Amounts for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2002 D)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 Accrual Distribution Amount, the any Class 2-A-3 Accrual Distribution Amount Unpaid Interest Shortfall included in such distribution and the any remaining Class 3-A-3 Accrual Distribution AmountUnpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Priority Percentage and Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month or any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableSpecial Hazard Loss Amount, the Class designationsFraud Loss Amount and the Bankruptcy Loss Amount, Class Balancesin each case as of the related Determination Date.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificates, shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2000-3)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (xxi) and (xxii) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) the amount allocable to principal, separately identifying the aggregate amount of principal distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(3iv) the Group 1 amount allocable to interest, any Class Unpaid Interest Distribution Amount, the Group 2 Shortfall included in such distribution and any remaining Class Unpaid Interest Distribution Amount and the Group 3 Interest Distribution AmountShortfall after giving effect to such distribution;
(4v) if the Principal Distribution Amount for each Group for distribution to the Holders of such Distribution DateClass of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(5vi) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) the Pool Stated Principal Balance for the following Distribution Date;
(viii) (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(ix) the amount of any Realized Loss Shortfalls allocated the Servicing Fee paid to or retained by the Servicer, and the amount of the Trustee Fee paid to the Trustee, with respect to such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date (assuming in and the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in Periodic Advances reimbursed since the case of a Class of Exchangeable Certificates that all exchanges have occurred)previous Distribution Date;
(9xii) the Extraordinary Trust Expenses amount of Servicing Advances made since the previous Distribution Date and the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date;
(xiii) the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xvi) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvii) the aggregate amount of Realized Losses incurred during the preceding calendar month and for any Class PO Deferred Amounts for such Distribution Date;
(xviii) the Reimbursement Amount;
(xix) the amount of total Recoveries, the Class PO Recovery and the Non-PO Recovery allocated to the Class A-PO Certificates;
(xx) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xxi) any material modifications, extensions or waivers as to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Securities Administrator is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(10xxiii) whether the number and aggregate principal balance of any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place Mortgage Loans repurchased by the Depositor from the Trust since the preceding previous Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Master Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall Securities Administrator will make availablethe monthly statement to Certificateholders (and, upon requestat its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website, initially located at "www.[insert website address]." The Securities Administrator will also make available copies of periodic reports the Underlying Distribution Date Statements for Securities Administrator files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports, available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at [insert phone number]. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii), (iv) and (2ix) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xviii) the Class 4-A-3 Notional Amount for such Distribution Date;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. initially located at "www.ctslink.com." The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2006-B Trust)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Remittance Date. The Trustee and the Servicer shall inform any Certificateholder and any Underwriter inquiring by telephone of the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Originator is not the Servicer) the Originator a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on each such distribution to Holders of Class of P&I A Certificates for allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such Distribution Datedistribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(2ii) the amount of principal distributed on each such distribution to Holders of Class A Certificates allocable to principal, separately identifying the aggregate amount of P&I Certificates for any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such Distribution Datedistribution;
(3iii) the Group 1 Interest Distribution AmountClass A Principal Balance, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(iv) the Class A Percentage for such Remittance Date and the following Remittance Date;
(v) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vi) the Pool Factor;
(vii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(viii) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date, the number of repossessed Manufactured Homes that remain in inventory as of the last day of the related Due Period and repossessed Manufactured Homes purchased by the Originator or a subsidiary of the Originator from the Trust (during the related Due Period and cumulatively) by number of Contracts, aggregate Scheduled Principal Balance of such Contracts and aggregate purchase price;
(ix) number of Contracts and aggregate Scheduled Principal Balance of Contracts extended or otherwise amended during the Due Period preceding current Remittance Date;
(x) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xi) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Weighted Average Contract Rate of all outstanding Contracts;
(xiv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) xv) the amount of any Realized Loss Shortfalls allocated as of Class M-2 Interest Deficiency Amount, if any, for such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Remittance Date;
(9xvi) the Extraordinary Trust Expenses Class B-1 Interest Deficiency Amount, if any, for such Distribution Remittance Date;
(xvii) the Overcollateralization Amount, if any, for such Remittance Date; and
(10xviii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Additional Principal Distribution Date andAmount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee may require registration and shall furnish or cause to be furnished to each Person who at any time during the acceptance calendar year was the Holder of a disclaimerClass M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On each Distribution (a) If the Servicer has delivered the Monthly Statement on the preceding Determination Date, then on each Payment Date the Servicer will forward it to the Certificate Insurer, and the Trustee shall prepare and make available will mail to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the TrusteeAgencies and each Class B Certificateholder, a statement (which statement will be prepared by the “Distribution Statement”Servicer furnished to the Trustee in the Monthly Statement delivered pursuant to Section 5.07 hereof or otherwise pursuant to this Agreement), not later than one Business Day prior to such Payment Date, setting forth the following information (per $1,000 of Initial Class A Certificate Principal Amount or of Initial Class B Certificate Principal Amount (as the case may be) stating:as to (i) and (ii) below):
(1i) With respect to a statement to a Class A Certificateholder or a Class B Certificateholder, the amount of interest distributed such payment allocable to such Certificateholder's Percentage Interest of the Principal Distribution Amount and Class A or Class B Overdue Principal;
(ii) With respect to a statement to a Certificateholder, the amount of such payment allocable to such Certificateholder's Percentage Interest of Class A, Class B-1 or B-2 Certificate Interest and Class A or Class B Overdue Interest;
(iii) The aggregate amount of fees and compensation received by the Servicer pursuant to Section 6.06 hereof for the Collection Period;
(iv) The aggregate Class A Certificate Principal Balance, the aggregate Class B-1 Certificate Principal Balance, the aggregate Class B-2 Certificate Principal Balance, the Class A Certificate Percentage, the Class A Certificate Factor, the Class B-1 Certificate Factor, the Class B-2 Certificate Factor, the Pool Factor and the Aggregate Discounted Contract Principal Balance, after taking into account all distributions made on each Class of P&I Certificates for such Distribution Payment Date;
(2v) The total unreimbursed Servicer Advances with respect to the amount related Collection Period;
(vi) The Subordinated Amount as of principal distributed on each Class of P&I Certificates for such Distribution Payment Date;
(3vii) The amount of Residual Receipts and Defaulted Residual Receipts for the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount related Collection Period and the Group 3 Interest Distribution AmountAggregate Discounted Contract Principal Balances for all Leases that became Defaulted Leases during the related Collection Period;
(4viii) The total number of Leases and the Aggregate Discounted Contract Principal Distribution Amount for each Group for such Distribution Balances thereof, together with the number and Aggregate Discounted Contract Principal Balances of all Leases as to which the Lessees, as of the related Calculation Date;
, have missed one, two, three or four Scheduled Payments (5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredincluding Final Lease Payments), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution DateDelinquent Leases reconveyed; and
(10ix) whether any exchanges The Aggregate Discounted Contract Principal Balance of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andNew Transferred Property, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses any.
(1b) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end By January 31 of each calendar year, commencing January 31, 1997, or as otherwise required by applicable law, the Trustee shall furnish to each Person who at any time during the immediately preceding calendar year was the Holder of a Certificate, if requested in writing by such Person, Certificateholder a statement prepared by the Servicer containing the information set forth in subclauses (1) and (2) above, in each case aggregated applicable aggregate amounts with respect to such Certificateholder hereof for such calendar year or applicable portion thereof during which or, in the event such Person was a Certificateholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Certificateholder's preparation of federal income tax returns. Such obligation of In addition to the foregoing the Servicer and the Trustee shall be deemed to have been satisfied (to the extent that substantially comparable the Servicer has provided the necessary information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, ) shall make available to Certificateholders or the Trustee may require registration and the acceptance of a disclaimer.Certificate Insurer any
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Sierra Receivables Ii Inc)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the amount of principal distributed on each Class of P&I Certificates for such Distribution Dateapplicable Record Date and Interest Accrual Period;
(3iii) the Group 1 Interest Distribution Amountfor each Class, the Group 2 Interest Distribution Amount amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (Liquidation Proceeds included therein, assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6iv) for each Class, the outstanding amount allocable to interest, any Class Balance of each Unpaid Interest Shortfall included in such distribution and any remaining Class of Certificates Unpaid Interest Shortfall after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (distribution, assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7v) with respect if the distribution to each Mortgage Certificatethe Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the aggregate Mortgage amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance as of such Mortgage Certificate Distribution Date each Class of Certificates (other than the Exchangeable Certificates) prior to and after giving effect to the distribution of principal made thereon on such Distribution Date and any allocation the Maximum Class Certificate Balance of any principal losses thereto in respect each Class of Exchangeable Certificates;
(vii) for each Loan Group (other than Loan Group 3) and Assumed Loan Group, the Pool Stated Principal Balance for such Mortgage Certificate Distribution Date;
(8) viii) for each Loan Group (other than Loan Group 3) and Assumed Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of any Realized Loss Shortfalls allocated the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(assuming xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Loan Group (other than Loan Group 3) and Assumed Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xviii) in the case of each Class of Interest Only Certificates (other than a Class of Exchangeable REMIC Certificates no exchanges have occurred Certificates), the applicable Notional Amount, if any, and in the case of a for each Class of Interest Only Certificates which are Exchangeable Certificates that all exchanges have occurred)Certificates, the Maximum Notional Amount, if any;
(9xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group (other than Loan Group 3) and Assumed Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the Extraordinary number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust Expenses for such since the previous Distribution Date;
(xxiv) the Class 3-A-11 Yield Maintenance Agreement Payment and Class 3-A-16 Yield Maintenance Agreement Payment received from the Counterparty and paid to the Class 3-A-11 and Class 3-A-16 Certificates, as the case may be; and
(10xxv) a statement as to whether any exchanges of Exchangeable REMIC Certificates or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designationsnames, Class Certificate Balances, Maximum Class Balances Pass Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount .
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "xxx.xxxxxxx.xxx". The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2007-1)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) for each Loan Group, the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)allocable to interest, the Class 1-A-3 A-8 Accrual Distribution Amount, the Class 21-A-3 Accrual Distribution Amount and the Class 3-A-3 A-11 Accrual Distribution Amount, the Class 1-A-20 Accrual Distribution Amount, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage, the Total Senior Percentage, the Subordinate Percentage and the Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-10 Notional Amount, the Class X-IO Notional Amount, the Class 1-X-IO Notional Amount and the Class 2-X-IO Notional Amount;
(xvi) the Yield Maintenance Agreement Payment received from the Counterparty and Yield Maintenance Amounts and Yield Maintenance Amount Shortfalls paid to the Class 1-A-9 Certificates; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the Class designationsamount of total Recoveries, Class Balancesthe PO Recovery and the Non-PO Recovery.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Servicer shall inform any Certificateholder or such other site as may be designated any Underwriter inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Originator is not the Servicer) the Originator a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates for allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such Distribution Datedistribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(2ii) the amount of principal distributed on such distribution to Holders of each Class of P&I Class A Certificates for allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such Distribution Datedistribution;
(3iii) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Class Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Class A Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3A-A-3 Accrual Distribution IO Notional Principal Amount;
(6) the outstanding Class Balance of each Class of Certificates , after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(iv) the Class A Percentage for such Remittance Date and the following Remittance Date;
(v) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vi) the Pool Factor;
(vii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(viii) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date, the number of repossessed Manufactured Homes that remain in inventory as of the last day of the related Due Period and repossessed Manufactured Homes purchased by the Originator or a subsidiary of the Originator from the Trust (during the related Due Period and cumulatively) by number of Contracts, aggregate Scheduled Principal Balance of such Contracts and aggregate purchase price;
(ix) number of Contracts and aggregate Scheduled Principal Balance of Contracts extended or otherwise amended during the Due Period preceding current Remittance Date.
(x) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit M hereto);
(7xi) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit M hereto);
(xii) the Class B Distribution Test (as set forth in Exhibit M hereto);
(xiii) the Weighted Average Contract Rate and Adjusted Weighted Average Contract Rate;
(xiv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) xv) the amount of any Realized Loss Shortfalls allocated as of Class M-2 Interest Deficiency Amount, if any, for such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Remittance Date;
(9xvi) the Extraordinary Trust Expenses Class B-1 Interest Deficiency Amount, if any, for such Distribution Remittance Date;
(xvii) the Overcollateralization Amount, if any, for such Remittance Date; and
(10xviii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Additional Principal Distribution Date andAmount, if applicableany, to be distributed on such Remittance Date pursuant to Section 8.03(a)(12). In the case of information furnished pursuant to clauses (i) through (iii) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificatesdenomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee may require registration shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
e. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a $1,000 denomination.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Servicer's Certificates delivered to the Securities Administrator pursuant to Section 4.01, and with respect to subsection (xxii) below as identified by the Depositor, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Class, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Class, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal distributed on each Class of P&I Certificates for such Distribution Dateand interest;
(3vi) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of any Realized Loss Shortfalls allocated the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on the last day of the calendar month preceding such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(assuming xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net WAC, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25% weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the last day of the calendar month preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xvi) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xviii) in the case of a each Class of Exchangeable REMIC Certificates no exchanges have occurred Interest Only Certificates, the applicable Notional Amount, if any;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the case Form 10-D relating to such Distribution Date and provided the Securities Administrator is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date;
(xxiv) for each Loan Group, the number and percentage (by aggregate Stated Principal Balance) of Mortgage Loans that were the subject of a Class Servicer Modification since the previous Distribution Date;
(xxv) for each Loan Group, the number and percentage (by aggregate Cut-off Date Principal Balance) of Exchangeable Certificates Mortgage Loans that all exchanges have occurredwere the subject of a Servicer Modification since the Closing Date;
(xxvi) for each Loan Group, the aggregate amount of principal forgiveness as a result of a Servicer Modification since the previous Distribution Date;
(xxvii) for each Loan Group, the aggregate amount of principal forgiven in connection with any Servicer Modifications since the Closing Date;
(xxviii) for each Loan Group, the percentage (by aggregate Stated Principal Balance) of Mortgage Loans that were the subject of a Servicer Modification within twelve months prior to the previous Distribution Date and are delinquent 60 days or more (averaged over the preceding six-month period);
(9xxix) for each Loan Group, a statement as to the Extraordinary Trust Expenses delinquency status of Mortgage Loans that were the subject of a Servicer Modification since the Closing Date;
(xxx) for such Distribution Dateeach Loan Group, the date of the most recent Servicer Modification; and
(10xxxi) whether any exchanges for each Loan Group, with respect to Mortgage Loans that were the subject of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablea Servicer Modification, the Class designationsMortgage Interest Rate prior to such Servicer Modification and the Mortgage Interest Rate subsequent to such Servicer Modification.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1iii) and (2iv) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee Securities Administrator shall furnish prepare and make available to each Person who Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Securities Administrator's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.etrustee.net". The Trustee Securities Administrator will also make available copies of the availaxxx xxxxxx xx xxe periodic reports the Trustee Securities Administrator prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s customer service relations desk Securities Administrator at (000312) 000904-00004839. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator and indicating such. The Trustee Securities Administrator shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition reasonable period of time after the end of each calendar year, the Securities Administrator shall furnish to access each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the Trustee’s internet websiteextent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Securities Administrator shall deliver to the Holders of Certificates any reports or information the Securities Administrator is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Trustee may require registration Holders of Certificates, and the acceptance Securities Administrator shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc)
Statements to Certificateholders. On each Distribution Date, the Trustee shall prepare include with each distribution to the Certificateholders and make available shall mail to each Certificateholder and the Rating Agency a statement, based on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated information in the Servicer's Certificate furnished to the Trustee by the TrusteeServicer pursuant to Section 8.09, setting forth for the Collection Period relating to such Distribution Date the following information (which in the case of items (i), (ii), (iii), (iv) and (x) shall be based on a statement (the “Distribution Statement”) stating:Certificate in a principal amount of $1,000):
(1i) the amount of interest distributed the aggregate distribution that constitutes Class A Monthly Interest;
(ii) the amount of the aggregate distribution that constitutes Class B Monthly Interest;
(iii) the amount of the aggregate distribution that constitutes Class A Monthly Principal;
(iv) the amount of the aggregate distribution that constitutes Class B Monthly Principal;
(v) the Class A Principal Balance (after giving effect to any distribution of Monthly Principal made on each such Distribution Date) on which Class A Monthly Interest will be calculated on the next succeeding Distribution Date; POOLING AND SERVICING AGREEMENT
(vi) the Class B Principal Balance (after giving effect to any distribution of P&I Certificates for Monthly Principal made on such Distribution Date) on which Class A Monthly Interest will be calculated on the next succeeding Distribution Date;
(2vii) the amount of principal distributed on each Class of P&I Certificates for such Distribution DateA Certificate Factor;
(3viii) the Group 1 Interest Distribution Amount, Class B Certificate Factor;
(ix) the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution remaining Available Spread Amount;
(4x) the Principal Distribution Amount for each Group for such Distribution Datesum of the Monthly Servicing Fee and the Required Spread Amounts;
(5xi) for Distribution Dates during the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Funding Period, the Class 1remaining Pre-A-3 Accrual Distribution Funded Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10xii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since for the preceding Distribution Date andon which (or immediately following the date on which) the Funding Period ends, the amount, if applicableany, remaining in the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, Pre-Funded Account after the purchase of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificatesall Subsequent Receivables. Within a reasonable the prescribed period of time for tax reporting purposes after the end of each calendar yearyear during the term of the agreement, the Trustee shall furnish mail, to each Person who at any time during the such calendar year was the Holder of shall have been a Certificate, if requested in writing by such PersonCertificateholder, a statement containing the information set forth sum of the amounts determined in subclauses clauses (1) i), (ii), (iii), (iv), and (2x) above, in each case aggregated for such calendar year or year, as applicable to such Person, or, in the event such Person shall have been a Certificateholder during a portion of such calendar year, for the applicable portion thereof during which of such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that year, unless substantially comparable information has been provided to such Certificateholder, for the purposes of such Certificateholder's preparation of federal income tax returns. To the extent required by applicable law, the Servicer shall prepare or cause to be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, prepared and the Trustee shall provide timely sign the tax returns of the Trust Fund and adequate notification shall file such returns and such of the above information with the Internal Revenue Service and furnish such information to all above parties regarding any Certificateholders as may be required by such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerreturns.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bay View Deposit CORP)
Statements to Certificateholders. On each Distribution Date, the Trustee (a) The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class A-IO, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Servicer shall inform any Certificateholder or such other site as may be designated any Underwriter inquiring by telephone of the information contained in the most recent Monthly Report.
(b) Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Originator is not the Servicer) the Originator a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of such distribution to Holders of each class of Class A Certificates allocable to interest distributed on each (including any Unpaid Class of P&I Certificates for M-1 Basis Risk Carryover Shortfall), separately identifying any Unpaid Class A Interest Shortfall included in such Distribution Datedistribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(2ii) the amount of principal distributed on such distribution to Holders of each class of Class A Certificates allocable to principal, separately identifying the aggregate amount of P&I Certificates for any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such Distribution Datedistribution;
(3iii) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Class Principal Distribution Amount Balance for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each class of Class of A Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3A-A-3 Accrual Distribution IO Notional Principal Amount;
(6) the outstanding Class Balance of each Class of Certificates , after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(iv) the Class A Percentage for such Remittance Date and the following Remittance Date;
(v) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vi) the Pool Factor;
(vii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(viii) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date, the number of repossessed Manufactured Homes that remain in inventory as of the last day of the related Due Period and repossessed Manufactured Homes purchased by the Originator or a subsidiary of the Originator from the Trust (during the related Due Period and cumulatively) by number of Contracts, aggregate Scheduled Principal Balance of such Contracts and aggregate purchase price;
(ix) number of Contracts and aggregate Scheduled Principal Balance of Contracts extended or otherwise amended during the Due Period preceding current Remittance Date.
(x) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit M hereto);
(7xi) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit M hereto);
(xii) the Class B Distribution Test (as set forth in Exhibit M hereto);
(xiii) the Weighted Average Contract Rate and Adjusted Weighted Average Contract Rate;
(xiv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) xv) the amount of any Realized Loss Shortfalls allocated as of Class M-2 Interest Deficiency Amount, if any, for such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Remittance Date;
(9xvi) the Extraordinary Trust Expenses Class B-1 Interest Deficiency Amount, if any, for such Distribution Remittance Date;
(xvii) the Overcollateralization Amount, if any, for such Remittance Date; and
(10xviii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Additional Principal Distribution Date andAmount, if applicableany, to be distributed on such Remittance Date pursuant to Section 8.03(a)(xiv). In the case of information furnished pursuant to clauses (i) through (iii) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will or Class A-IO Certificate with a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificatesdenomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
(c) On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee may require registration shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(d) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(e) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(iv) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(v) the information described above in Section 6.05(b)(v) through (xviii). In the case of the information in clauses (i) through (iii) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-1 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(f) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2 and Class B-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-2 Certificates allocable to interest, separately identifying any Unpaid Class B-2 Interest Shortfall included in such distribution and any remaining Unpaid Class B-2 Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any Unpaid Class B-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-2 Formula Distribution Amount for such Remittance Date exceeds the remaining Amount Available for such Remittance Date;
(iv) the Class B-2 Principal Balance and Class B-2 Adjusted Principal Balance, if different, after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date;
(vi) the information described above in Section 6.05(b)(v) through (xviii);
(vii) the Class B-2 Liquidation Loss Amount, if any, for such Remittance Date;
(viii) the Weighted Average Contract Rate of all outstanding Contracts. In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-2 Certificate with a $1,000 denomination. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-2 Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time enforced.
(g) On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-3I Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2, Class B-1 and Class B-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-3I Certificateholders as part of the Monthly Report, the following information:
(i) the Class B-3I Formula Distribution Amount for such Remittance Date; and
(ii) the Class B-3I Distribution Amount for such Remittance Date.
(h) Copies of all reports provided to the Trustee for the Certificateholders shall also be provided to Standard & Poor's, Moody's and Fitch and to the Class C Certificateholders. In addition, Certificate Owners may receive copies of any reports provided to the Trustee for the Certificateholders, upon written request together with a certification that they are Certificate Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On (a) Concurrently with each distribution charged to the Trust Certificate Account and with respect to each Distribution Date, Date the Certificate Administrator shall forward to the Trustee and the Trustee shall prepare and either forward by mail or make available to each Certificateholder Holder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by Company, via the Trustee's internet website, a statement (and at its option, any additional files containing the “Distribution Statement”same information in an alternative format) statingsetting forth the following information as to each Class of Trust Certificates:
(1i) the amount of interest distributed on each Class of P&I Certificates Available Funds for such Distribution Date;
(2ii) with respect to such Distribution Date, the aggregate amount of Accrued Certificate Interest, the Pass-Through Rate and the aggregate Principal Distribution Amount and the amounts of principal and interest distributed on to the Certificateholders of each Class of P&I Trust Certificates for on such Distribution Date pursuant to Section 3.04;
(iii) the aggregate amount of distributions on the Class [R] Certificate on such Distribution Date pursuant to Section 3.04, if any;
(iv) the Certificate Principal Balance of the Class [A] Certificates after giving effect to distributions of principal of such Trust Certificates on such Distribution Date;
(3v) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Underlying Certificate Balance as of such Mortgage Certificate Distribution Date Date, after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in Losses with respect to the case of a Class of Exchangeable REMIC Underlying Certificates no exchanges have occurred and in applied to reduce the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for Underlying Certificate Balance thereof on such Distribution Date; and
(10vi) whether the amount of any exchanges reductions in the Certificate Principal Balance of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC [A] Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 DenominationClass A Loss Amount. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish mail to each Person who at any time during Holder that requests a paper copy by telephone a paper copy via first class mail. The Trustee may modify the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information distribution procedures set forth in subclauses (1) and (2) above, in each case aggregated this Section 3.05 provided that such procedures are no less convenient for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000Certificateholders. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible provide prior notification to the above partiesCompany, the Certificate Administrator and the Trustee shall provide timely and adequate notification to all above parties Certificateholders regarding any such changesmodification. As In addition, the Certificate Administrator shall provide to any manager of a condition to access trust fund consisting of some or all of the Trust Certificates, upon reasonable request, such additional information as is reasonably obtainable by the Certificate Administrator at no additional expense to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerCertificate Administrator.
Appears in 1 contract
Statements to Certificateholders. a. On or before the third Business Day next preceding each Distribution Payment Date, the Servicer shall prepare and furnish to the Trustee the statements specified below with respect to the distribution on such Payment Date. Concurrently with each distribution to Certificateholders, the Trustee shall prepare forward such statements by mail, or cause them to be forwarded by mail, to the Certificateholders as described below and make available (if the Originator is not the Servicer) to each Certificateholder the Originator.
b. The statements for the Class A and Class I-IO Certificateholders shall include the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingfollowing information:
(1i) the amount of interest distributed on the distribution to Holders of each Class of P&I Class A and Class I-IO Certificates for allocable to interest, separately identifying any Unpaid Class A and IO Interest Shortfall included in such Distribution Datedistribution and any remaining Unpaid Class A and IO Interest Shortfall after giving effect to such distribution;
(2ii) the amount of principal distributed on the distribution to Holders of each Class of P&I Class A Certificates for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein;
(3iii) the Group 1 Interest amount, if any, by which the Class I-A-1A Formula Principal Distribution Amount, the Group 2 Interest Class I-A(B) Formula Principal Distribution Amount and the Group 3 Interest Class II-A Formula Principal Distribution Amount;
(4) Amount exceeds the Principal Distribution Amount for the Class I-A-1A Certificates and each Group for such Distribution DateClass of Class I-A(B) Certificates and Class II-A Certificates, respectively;
(5iv) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Principal Balance of each Class of Class A Certificates and the Class I-IO Notional Principal Amount after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Payment Date;
(8) v) the Pool Scheduled Principal Balance, and of that amount of any Realized Loss Shortfalls allocated as of the Group I Scheduled Principal Balance and the Group II Scheduled Principal Balance for such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Payment Date;
(9vi) the Extraordinary Trust Expenses Senior Enhancement Percentage for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC the Group I Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet websiteGroup II Certificates, the Trustee may require registration and the acceptance of a disclaimer.respectively;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A-1 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxx Brothers Inc., Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated and Xxxxxxx Xxxxx Barney Inc. inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A-1 Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on each such distribution to Holders of Class A-1 Certificates allocable to interest, separately identifying any Unpaid Class A-1 Interest Shortfall included in such distribution and any remaining Unpaid Class A-1 Interest Shortfall after giving effect to such distribution;
(ii) the amount of P&I such distribution to Holders of Class A-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A-1 Formula Distribution Amount for such Distribution Remittance Date exceeds the Class A -1Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A-1 Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A-1 Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiv) the Weighted Average Contract Rate of all outstanding Contracts;
(xv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9xvi) the Extraordinary Trust Expenses Class M-2 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A-1 Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A-1 Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A-1 Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Amount Available less the Class A-1 Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee may require registration and the acceptance shall forward or cause to be forwarded by mail to each Holder of a disclaimer.Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A-1 Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Cashflow Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Cashflow Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) the total number and principal balance of any REO Property relating to a Mortgage Loan (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Cashflow Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Cashflow Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class 2-A-7 Notional Amount, Class 2-A-9 Notional Amount, Class 3-A-1 Notional Amount and Class 3-IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Cashflow Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date; and
(xxiv) the Yield Maintenance Agreement Payment received from the Counterparty and paid to the Class 2-A-6 Certificates.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 Denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.ctslink.com". The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000866) 000846-00004526. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2007-2)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than and the Class 1-A-R Certificate) distributable on SES Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such Distribution Date (assuming in the case of a distribution and any remaining Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 CB-3 Accrual Distribution Amount and the Class 3-A-3 NC-2 Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Class CB-4 Priority Percentage, the Class NC-3 Priority Percentage, the Senior Percentage for each Loan Group and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class PO Deferred Amounts for such Distribution Date;
(xv) the Class CB-6 Notional Amount, the Class CB-7 Notional Amount, the Class CB-WIO Notional Amount, the Class 1-SES Notional Amount, the Class NC-5 Notional Amount, the Class NC-WIO Notional Amount and the Class 2-SES Notional Amount for such Distribution Date;
(xvi) the Class SES Distributable Amount for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "www.ctslink.com". Assistance in using the website can be obtained by caxxxxx xxx Xxxxxee's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Sec Inc Alternative Loan Tr 2003-2)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificates delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Payoffs, Curtailments, Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(viii) the amount of the WMMSC Master Servicing Fee paid to the WMMSC Master Servicer with respect to each Loan Group and such Distribution Date;
(ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9xi) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any Class PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-7 Notional Amount, Class 30-IO Notional Amount and Class 15-IO Notional Amount for such Distribution Date;
(xvi) for each Loan Group, the amount of Buy-Down Funds and WF Master Serviced Loan Reimbursement Amounts and WMMSC Master Serviced Loan Reimbursement Amounts; and
(10xvii) whether any exchanges for each Loan Group the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsPO Recovery and the Non-PO Recovery and for Loan Group 2, the amount of the Class BalancesPO Recovery for Loan Group 2 allocated to the Class 2-X-PO Component and the Class 2-15-PO Component and for Loan Group 3, Maximum the amount of the Class Balances PO Recovery for Loan Group 3 allocated to the Class 3-X-PO Component and any interest the Class 3-15-PO Component.
(b) No later than each Distribution Date, the Securities Administrator, based upon information supplied to it on the Master Servicer's Certificates, shall make available to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicers a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) the amount allocable to interest, the Class A-3 Accrual Distribution Amount, the Class A-4 Accrual Distribution Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) the Pool Stated Principal Balance for such Distribution Date;
(viii) the Senior Percentage and the Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) the aggregate amount of Realized Losses incurred during the preceding calendar month, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class A-7 Notional Amount and the Class 30-IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.ctslink.com". The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2006-1 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount date of interest distributed on each Class of P&I Certificates such Distribution Date and the Determination Date for such Distribution Date;
(2ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal distributed on each Class of P&I Certificates for such Distribution Dateand interest;
(3vi) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vii) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xi) the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class CB-2 Notional Amount, Class CB-10 Notional Amount, Class CB-IO Notional Amount, Class 2-A-2 Notional Amount, Class 2-A-4 Notional Amount, Class 2-A-6 Notional Amount, Class 2-A-15 Notional Amount and Class 2- IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date;
(xxiv) the Class CB-1 Yield Maintenance Agreement Payment, Class 2-A-1 Yield Maintenance Agreement Payment and Class 2-A-3 Yield Maintenance Agreement Payment received from the Counterparty and paid to the Class CB-1, Class 2-A-1 and Class 2-A-3 Certificates, as the case may be; and
(10xxv) a statement as to whether any exchanges of Exchangeable or REMIC Certificates and Exchangeable REMIC Certificates have taken place since the preceding Distribution Date Date, and, if applicable, the Class designationsnames, Class Certificate Balances, Maximum Class Balances Notional Amounts, Pass Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-6)
Statements to Certificateholders. (a) On each Distribution Date, the Trustee shall prepare and make available include with each distribution to each Certificateholder and of record, a statement, prepared by the Rating Agency Servicer, based on its website at “xxxx://xxx.xxxxxxx.xxx” information in the Servicer's Certificate furnished pursuant to Section 13.10, setting forth for the related Collection Period the following information as of the last day of the related Collection Period or such other site Distribution Date, as the case may be designated by the Trustee, a statement (the “Distribution Statement”) statingbe:
(1i) the amount of interest such distribution allocable to principal;
(ii) the amount of such distribution allocable to interest;
(iii) the Pool Balance as of the close of business on the last day of such Collection Period;
(iv) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Collection Period and the Class A Percentage of the Basic Servicing Fee;
(v) the amount of the Class A Principal and Interest Carryover Shortfalls, if any, on such Distribution Date and the change in the Class A Principal and Interest Carryover Shortfalls from the immediately preceding Distribution Date;
(vi) the Pool Factor and the Class A Pool Factor as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(vii) the amount otherwise distributable to the Class B Certificateholders that is distributed to the Class A Certificateholders on each Class of P&I Certificates for such Distribution Date;
(2viii) the amount of principal distributed on each Class of P&I Certificates for deposit in the Reserve Fund on such Distribution Date, after giving effect to distributions made on such Distribution Date, and the change in such amount from the immediately preceding Distribution Date and the Specified Reserve Fund Balance;
(ix) the amount on deposit in the Payahead Account or held by the Servicer constituting Payments Ahead and the change in such amount from the immediately preceding Distribution Date;
(3x) the Group 1 Interest amount of Outstanding Advances on such Distribution Amount, the Group 2 Interest Distribution Amount Date and the Group 3 Interest Distribution Amount;
(4) change in such amount from the Principal Distribution Amount for each Group for such immediately preceding Distribution Date;
(5xi) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount A Certificate Balance and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage B Certificate Balance as of such Mortgage Certificate Distribution Date Date, after giving effect to the distribution of payments allocated to principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Datereported under clause (i) above;
(8) xii) the Yield Supplement Deposit Amount, the Maximum Yield Supplement Amount and the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming on deposit in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for Yield Supplement Account after giving effect to distributions made on such Distribution Date; and
(10xiii) whether any exchanges the amount available under the Servicer Letter of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andCredit Amount, if applicableany, the Class designationsServicer Letter of Credit Amount, Class Balancesif any, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder such amount as a result percentage of such exchangethe Pool Balance as of the last day of the related Collection Period. The Each amount set forth pursuant to subclauses (1i), (ii), (iv) and or (2v) will above shall be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders original principal balance of the Certificates. a Class A Certificate.
(b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Trustee shall furnish mail, to each Person who at any time during the such calendar year was the shall have been a Holder of a Class A Certificate, if requested in writing by such Person, a statement containing or statements, prepared by the information Servicer, which in the aggregate contain the sum of the amounts set forth in subclauses clauses (1i), (ii), (iv) and (2v) above, in each case aggregated above for such calendar year or or, in the event such Person shall have been a Holder of a Class A Certificate during a portion of such calendar year, for the applicable portion thereof during which of such year, for the purposes of such Certificateholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustee for distribution to such Person was a Certificateholder. Such obligation at such time any other information necessary under applicable law for the preparation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commissionsuch income tax returns, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments information relating to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimeroriginal issue discount calculation if any.
Appears in 1 contract
Samples: Standard Terms and Conditions Agreement (Honda Auto Receivables 1996-a Grantor Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, the Class 4-CE Distributable Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) with respect to the Shifting Interest Certificates, if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(7v) for Loan Group 4, the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(vi) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vii) with respect to each Mortgage CertificateShifting Interest Loan Group, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Senior Percentage for each Loan Group, and the Subordinate Percentage for the following Distribution Date after giving effect to Date, the distribution of principal made thereon CB Crossed Loan Group Senior Percentage and any allocation of any principal losses thereto in respect of such Mortgage Certificate the CB Crossed Loan Group Subordinate Percentage for the following Distribution Date;
(8) viii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9xi) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Shifting Interest Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xv) the Extraordinary Trust Expenses Notional Amount for each Class of Interest-Only Certificate for such Distribution Date; and;
(10xvi) the Accrued Certificate Interest in respect of each Class of Group 4 Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) with respect to Loan Group 4, the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date, the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) whether any exchanges a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of Exchangeable the original Pool Stated Principal Balance of Loan Group 4;
(xix) the Available Funds;
(xx) for each Loan Group, the aggregate amount of Realized Losses or Exchangeable REMIC Certificates have taken place since Applied Realized Loss Amounts, as applicable, incurred during the preceding calendar month and for each Group for such Distribution Date and, if applicableseparately identifying any reduction thereof due to the allocations of Realized Losses or Applied Realized Loss Amounts;
(xxi) for each Loan Group, the Class designationsamount of Buy-Down Funds, Class BalancesRecoveries and Reimbursement Amounts.
(b) No later than each Distribution Date, Maximum Class Balances the Securities Administrator, based upon information supplied to it on the Master Servicer's Certificates, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Master Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.06(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.06(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.06(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.06(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Statements to Certificateholders. On each Distribution Date, the Trustee a. The Servicer shall prepare and make available furnish to the Trustee the statements specified below relating to the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3I Certificates on or before the third Business Day next preceding each Certificateholder Remittance Date. The Trustee and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated Servicer shall inform any Certificateholder, Xxxxxxx Lynch, Xxxxxx, Xxxxxx & Xxxxx Incorporated, Xxxxxx Brothers Inc. and NationsBanc Xxxxxxxxxx Securities LLC inquiring by telephone of the information contained in the most recent Monthly Report.
b. Concurrently with each distribution charged to the Certificate Account the Trustee, so long as it has received the Monthly Report from the Servicer, shall forward or cause to be forwarded by mail to each Holder of a Class A Certificate and (if the Company is not the Servicer) the Company a statement (setting forth the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on such distribution to Holders of each Class of P&I Class A Certificates allocable to interest, separately identifying any Unpaid Class A Interest Shortfall included in such distribution and any remaining Unpaid Class A Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Class A Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class A Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class A Formula Distribution Amount for such Remittance Date exceeds the Class A Distribution Amount for such Remittance Date;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount Balance for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)A Certificates, the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Remittance Date;
(v) the Class A Percentage for such Remittance Date and the following Remittance Date;
(vi) the Pool Scheduled Principal Balance of the Contracts for such Remittance Date;
(vii) the Pool Factor;
(viii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(ix) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Remittance Date;
(x) the number of Manufactured Homes that were repossessed but remain in inventory as of the last day of the related Due Period ending immediately prior to such Remittance Date;
(xi) the Class M-1 Distribution Date Test (assuming as set forth in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurredExhibit N hereto);
(7xii) with respect to each Mortgage Certificatethe Class M-2 Distribution Test (as set forth in Exhibit N hereto);
(xiii) the Class B Distribution Test (as set forth in Exhibit N hereto);
(xiv) the Weighted Average Contract Rate of all outstanding Contracts;
(xv) the Class M-1 Interest Deficiency Amount, the aggregate Mortgage Certificate Balance as of if any, for such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Remittance Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9xvi) the Extraordinary Trust Expenses Class M-2 Interest Deficiency Amount, if any, for such Distribution Remittance Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andClass B-1 Interest Deficiency Amount, if applicableany, for such Remittance Date. In the case of information furnished pursuant to clauses (i) through (iv) above, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will amounts shall be expressed as a dollar amount per Class A Certificate will with a 1% Percentage Interest or per $1,000 Denomination. The Trustee shall make available, upon request, copies denomination of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the CertificatesClass A Certificate. Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, Class A-1 Certificate a statement containing the information set forth in subclauses (1) with respect to interest accrued and (2) above, in each case aggregated for principal paid on its Certificates during such calendar year or applicable portion thereof during which such Person was a Certificateholderyear. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission.
c. On each Remittance Date, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification forward or cause to all above parties regarding any be forwarded by mail to each Holder of a Class M-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A-1 Certificates on such changesRemittance Date. As a condition to access The Servicer shall also furnish to the Trustee’s internet website, which shall forward such report to the Class M-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-1 Certificates allocable to interest, separately identifying any Unpaid Class M-1 Interest Shortfall included in such distribution, any remaining Unpaid Class M-1 Interest Shortfall after giving effect to such distribution, any Class M-1 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-1 Formula Distribution Amount for such Remittance Date exceeds the Class M-1 Distribution Amount for such Remittance Date;
(iv) the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-1 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class M-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
d. On each Remittance Date, the Trustee may require registration shall forward or cause to be forwarded by mail to each Holder of a Class M-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A Certificates and Class M-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class M-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class M-2 Certificates allocable to interest, separately identifying any Unpaid Class M-2 Interest Shortfall included in such distribution, any remaining Unpaid Class M-2 Interest Shortfall after giving effect to such distribution, any Class M-2 Liquidation Loss Interest Amount included in such distribution and any remaining unpaid Class M-2 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class M-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein and any remaining Unpaid Class M-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class M-2 Formula Distribution Amount for such Remittance Date exceeds the Class M-2 Distribution Amount for such Remittance Date;
(iv) the Class M-2 Principal Balance and the acceptance Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class M-2 Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class M-2 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class M-2 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a disclaimerClass M-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class M-2 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
e. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-1 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1 and Class M-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-1 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-1 Certificates allocable to interest, separately identifying any Unpaid Class B-1 Interest Shortfall included in such distribution, any remaining Unpaid Class B-1 Interest Shortfall after giving effect to such distribution, any Class B-1 Liquidation Loss Interest Amount included in such distribution and any remaining Unpaid Class B-1 Liquidation Loss Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-1 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining Unpaid Class B-1 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-1 Formula Distribution Amount for such Remittance Date exceeds the Class B-1 Distribution Amount for such Remittance Date;
(iv) the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date; and
(vi) the information described above in Section 6.05(b)(vi) through (xvii). In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-1 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-1 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-1 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-1 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
f. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-2 Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2 and Class B-1 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-2 Certificateholders as part of the Monthly Report, the following information:
(i) the amount of such distribution to Holders of Class B-2 Certificates allocable to interest, separately identifying any Unpaid Class B-2 Interest Shortfall included in such distribution and any remaining Unpaid Class B-2 Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of Class B-2 Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any Unpaid Class B-2 Principal Shortfall after giving effect to such distribution;
(iii) the amount, if any, by which the Class B-2 Formula Distribution Amount for such Remittance Date exceeds the Remaining Amount Available for such Remittance Date;
(iv) the Class B-2 Principal Balance after giving effect to the distribution of principal on such Remittance Date;
(v) the Class B Percentage for such Remittance Date and the following Remittance Date;
(vi) the information described above in Section 6.05(b)(vi) through (xvii);
(vii) the Class B-2 Liquidation Loss Amount, if any, for such Remittance Date;
(viii) the Guarantee Payment, if any, for such Remittance Date; and
(ix) the Weighted Average Contract Rate of all outstanding Contracts. In the case of the information in clauses (i) through (iv) above, the amounts shall be expressed as a dollar amount per Class B-2 Certificate with a 1% Percentage Interest or per $1,000 denomination of Class B-2 Certificate. Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish or cause to be furnished to each Person who at any time during the calendar year was the Holder of a Class B-2 Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class B-2 Certificate. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time enforced.
g. On each Remittance Date, the Trustee shall forward or cause to be forwarded by mail to each Holder of a Class B-3I Certificate a copy of the Monthly Report forwarded to the Holders of Class A, Class M-1, Class M-2, Class B-1 and Class B-2 Certificates on such Remittance Date. The Servicer shall also furnish to the Trustee, which shall forward such report to the Class B-3I Certificateholders as part of the Monthly Report, the following information:
(i) the Class B-3I Formula Distribution Amount for such Remittance Date, including any Unpaid Class B-3I Shortfall immediately prior to such Remittance Date;
(ii) the Class B-3I Distribution Amount for such Remittance Date; and
(iii) the Unpaid Class B-3I Shortfall immediately following such Distribution Date.
h. Copies of all reports provided to the Trustee for the Certificateholders shall also be provided to the Rating Agencies and to the Class C Certificateholders. In addition, Certificate Owners may receive copies of any reports provided to the Trustee for the Certificateholders, upon written request together with a certification that they are Certificate Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than and the Class 115-AIO, Class 30-R Certificate) distributable on such Distribution Date (assuming in the case of a IO, Class of Exchangeable REMIC Certificates no exchanges have occurred SES and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)X-B Certificates, the Class 1-A-3 Accrual Distribution Amountamount allocable to interest, the Class 2-A-3 A-2 Accrual Distribution Amount Amount, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution and the Class 3-A-3 Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the Total Senior Percentage and the Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date; and, if applicable, the amount of the Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date;
(xv) the Extraordinary Trust Expenses Class 15-IO Notional Amount, Class 30-IO Notional Amount, Class 1-30-IO Notional Amount, Class 2-30-IO Notional Amount, Class 15-IO Notional Amount, Class 3-15-IO Notional Amount, Class 4-15-IO Notional Amount, Class SES Notional Amount, Class 1-SES Notional Amount, Class 2-SES Notional Amount, Class 3-SES Notional Amount and Class 4-SES Notional Amount;
(xvi) the Ancillary Income for each Class SES Component for such Distribution Date;
(xvii) the Class SES Compensating Interest for such Distribution Date; and
(10xviii) whether any exchanges for each Loan Group, the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsA-PO Recovery and the Non-PO Recovery;
(b) No later than each Distribution Date, Class Balancesthe Trustee, Maximum Class Balances based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the Crossed Group Total Senior Percentage, the Loan Group 2 Total Senior Percentage, the Loan Group 5 Total Senior Percentage and the Crossed Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-9 Notional Amount, the Class 1-B-IO Notional Amount, the Class 5-B-IO Notional Amount, the Class 15-IO Notional Amount, the Class 30-IO Notional Amount, the Class 20-IO Notional Amount, the Class 1-30-IO Notional Amount, the Class 2-30-IO Notional Amount and the Class 5-IO Notional Amount; and
(10xvi) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicablefor each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery; for Loan Group 3, the amount of the PO Recovery for Loan Group 3 allocated to the Class designations3-X-PO Component and the Class 15-PO Certificates; for Loan Group 5, the amount of the PO Recovery for Loan Group 5 allocated to the Class Balances5-X-PO Component and the Class 5-PO Certificates.
(b) No later than each Distribution Date, Maximum Class Balances the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group and the Class SES and Class WIO Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Ratio Strip Deferred Amounts for such Distribution Date;
(xv) the Class 1-A-SES Notional Amount, the Class 1-A-WIO Notional Amount, the Class 2-SES Notional Amount, the Class 2-WIO Notional Amount, the Class 3-SES Notional Amount and the Class 3-WIO Notional Amount for such Distribution Date;
(xvi) the Class SES Distributable Amount for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "wxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2003-D)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 315-A-3 IO, Class 30-IO, Class SES and Class X-B Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution, any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution and the Accrual Distribution Amount;
(6iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date, the Total Senior Percentage and the Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date; and, if applicable, the amount of the Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date;
(xv) the Extraordinary Trust Expenses Class 1-A-16 Notional Amount, the Class 15-A-IO Notional Amount, Class 30-IO Notional Amount, Class 1-30-IO Notional Amount, Class 2-30-IO Notional Amount, Class 15-IO Notional Amount, Class 3-15-IO Notional Amount, Class 4-15-IO Notional Amount, Class SES Notional Amount, Class 1-SES Notional Amount, Class 2-SES Notional Amount, Class 3-SES Notional Amount, Class 4-SES Notional Amount and Class 5-SES Notional Amount;
(xvi) the Ancillary Income for each Class SES Component for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate;
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Ps THR Certs Ser 2004-1)
Statements to Certificateholders. On each Distribution Determination Date, the Servicer shall provide to the Trustee shall prepare and make available (with a copy to the Rating Agencies) for the Trustee to forward to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, of record a statement (each a "Distribution Date Statement") setting forth with respect to the “Distribution Statement”) statingrelated Collection Period at least the following information as to the Certificates to the extent applicable:
(1i) the amount of the distribution allocable to principal of the Class A Certificates and the Class B Certificates; the amount of the distribution allocable to interest distributed on each the Class A Certificates and the Class B Certificates;
(ii) the Pool Balance as of P&I Certificates the close of business on the last day of such Collection Period;
(iii) the amount of the Servicing Fee paid to the Servicer with respect to such Collection Period and the Class A Percentage and Class B Percentage of the Servicing Fee paid to the Servicer with respect to such Collection Period;
(iv) the amount of any Class A Interest Carryover Shortfall, Class A Principal Carryover Shortfall, Class B Interest Carryover Shortfall and Class B Principal Carryover Shortfall on the Distribution Date immediately following such Collection Period and the change in such amounts from those with respect to the immediately preceding Distribution Date;
(v) the Class A Pool Factor and the Class B Pool Factor as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(vi) the amount of the aggregate Realized Losses, if any, for such Collection Period;
(vii) the aggregate Principal Balance of all Receivables which were more than 30, 60 and 90 days delinquent as of the close of business on the last day of such Collection Period;
(viii) the amount on deposit in the Reserve Fund on such Distribution Date, after giving effect to distributions made on such Distribution Date;
(2ix) the amount Class A Principal Balance and the Class B Principal Balance as of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of payments allocated to principal and any allocation of Realized Loss Shortfalls made on such Distribution Date reported under clause (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)i) above;
(7x) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect amount otherwise distributable to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) Class B Certificateholders that is being distributed to the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for A Certificateholders on such Distribution Date; and
(10xi) whether any exchanges the aggregate Purchase Amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received Receivables repurchased by the Certificateholder as a result of Seller or purchased by the Servicer with respect to such exchangeCollection Period. The Each amount set forth pursuant to subclauses clauses (1i), (ii),(iii) and (2iv) will above shall be expressed in the aggregate and as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder original denomination of a Certificate, if requested in writing by . Copies of such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can statements may be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed Certificate Owners by a request in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access writing addressed to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank One Texas National Association)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance and Pool Principal Balance (Non-Ratio Strip Portion) for the following Distribution Date;
(vi) for each Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days and (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date; and
(10xiv) whether any exchanges for each Loan Group, the aggregate amount of Exchangeable or Exchangeable REMIC Certificates have taken place since Realized Losses incurred during the preceding calendar month or the Ratio Strip Deferred Amount for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall prepare and any interest deliver (by mail, fax or electronically) to each Holder of a Certificate, each Rating Agency and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee shall may make availableavailable each month, upon requestto any interested party, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date monthly statement to Holders of Certificateholders via the CertificatesTrustee's website. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i), (ii) and (2vii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of the REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of the REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank of America Mortgage Securities Inc M Pa Th Ce Se 2002-H)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Principal Prepayments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each allocable to interest, any Class of P&I Certificates for Unpaid Interest Shortfall included in such Distribution Datedistribution, and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(3iii) if the Group 1 Interest Distribution Amountdistribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the Group 2 Interest Distribution Amount amount of the shortfall and the Group 3 Interest Distribution Amountallocation thereof as between principal and interest;
(4iv) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage and the Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) the aggregate amount of Realized Losses incurred during the preceding calendar month, any Class PO Deferred Amounts for such Distribution Date;
(xv) the Class 30-IO Notional Amount;
(xvi) the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(a) the Deficiency Amount, if any, for such Distribution Date and (b) amounts, if any, in respect of the Deficiency Amount paid under the Policy;
(xviii) the amount remaining in the Reserve Fund after taking into account the Reserve Withdrawal, if any, for such Distribution Date; and
(10xix) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Rounding Amount, if any, for such Distribution Date and, if applicableand the amount applied to repay such Rounding Amount withdrawn on the prior Distribution Date.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificate, Maximum Class Balances shall make available to Assured Guaranty, each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall prepare and furnish to each Person who at any time during Financial Market Service, in electronic or such other format and media mutually agreed upon by the calendar year was Trustee, the Holder of a CertificateFinancial Market Service and the Depositor, if requested in writing by such Person, a statement containing the information set forth contained in subclauses (1the statement described in Section 5.04(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mortgage Trust 2005-12)
Statements to Certificateholders. On or prior to the Business Day preceding each Distribution Date, the Master Servicer shall forward to the Trustee shall prepare and make available for mailing by regular mail to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the TrusteeHolder of a Certificate, a statement (the “Distribution Statement”) statingsetting forth:
(1a) the amount of interest distributed on such distribution allocable to principal of the Class (_) Certificates, the Class (_) Certificates and the Class (_) Certificates, (b) the amount of such distribution allocable to any Class (_) Unpaid Principal Shortfall, Class (_) Unpaid Principal Shortfall and Class (_) Unpaid Principal Shortfall and (c) any remaining Class (_) Unpaid Principal Shortfall, Class (_) Unpaid Principal Shortfall and Class (_) Unpaid Principal Shortfall after giving effect to such distribution (separately for each Class of P&I Certificates Certificates, where applicable) with respect to such Distribution Date;
(ii) (a) the amount of such distribution allocable to the Class (_) Interest Requirement, Class (_) Interest Requirement and Class (_) Interest Requirement, (b) the amount of such distribution allocable to Class (_) Unpaid Interest Shortfall, Class (_) Unpaid Interest Shortfall and Class (_) Unpaid Interest Shortfall and (c) any remaining Class (_) Unpaid Interest Shortfall, Class (_) Unpaid Interest Shortfall and Class (_) Unpaid Interest Shortfall after giving effect to such distribution;
(iii) the amount of any Class (_) Principal Shortfall, Class (_) Principal Shortfall and Class (_) Principal Shortfall;
(iv) the amount of any Class (_) Interest Shortfall, Class (_) Interest Shortfall and Class (_) Interest Shortfall for such Distribution Date;
(2v) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3_) the Group 1 Interest Distribution AmountCertificate Balance, the Group 2 Interest Distribution Amount Class (_) Certificate Balance and the Group 3 Interest Distribution Amount;
Class (4_) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount Certificate Balance and the Class 3-A-3 Accrual Distribution Amount;
(6_) the outstanding Principal Factor, Class Balance of (_) Principal Factor and Class (_) Principal Factor, each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) vi) the amount of any Realized Loss Shortfalls allocated as of such Pool Balance for the following Distribution Date (assuming in and the case number of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)outstanding __________ Loans;
(9vii) the Extraordinary number and aggregate Trust Expenses Balances of ____ ______ Loans delinquent (a) ___ to ___ days and (b) ___ days or more, respectively, as of the end of the related Collection Period;
(viii) any Liquidated __________ Loan Losses for such Distribution Date, including cumulative losses up to such date;
(ix) the Trust Percentage of the book value (within the meaning of 12 C.F.R. ss. 571.13 or any comparable provision) of any real estate, and the number of Mortgaged Properties, acquired through foreclosure or grant of a deed in lieu of foreclosure as of the last day of the related Collection Period; and
(10x) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations(_) Pass-Through Rate, Class Balances, Maximum (_) Pass-Through Rate and Class Balances and any interest and principal paid, including any shortfalls allocated, (_) Pass-Through Rate applicable to the distribution on the following Distribution Date. In the case of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth information furnished pursuant to subclauses clauses (1i) and (2ii) will above, the amounts shall be expressed as a dollar amount per Certificate will Class (_), Class (_) and Class (_) Certificate, as applicable, with a $1,000 Denomination______ denomination. Any such statement furnished to a Class (_), Class (_) or Class (_) Certificateholder may, if requested by the Master Servicer, omit information pertinent only to Certificates of a Class not held by such Certificateholder. On each Distribution Date, the Master Servicer shall forward to the Trustee for mailing to each Holder of a Class (_) Certificate a copy of the report or reports forwarded to the Holders of Certificates on such Distribution Date. The Master Servicer shall also forward to the Trustee shall make availablefor mailing to each such Holder, upon request, copies and each of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders Rating Agencies a statement setting forth the amount of the Certificatesdistribution to each such Holder, together with such other information as the Master Servicer deems necessary or appropriate. Within a reasonable period of time ___ days after the end of each calendar year, the Master Servicer shall forward to the Trustee shall furnish for mailing by regular mail to each Person who at any time during the such calendar year was the Holder of a Certificate, if requested in writing by such Person, Certificateholder a statement containing the applicable distribution information set forth in subclauses provided pursuant to clauses (1i) and (2ii) aboveof this Section 5.02, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Master Servicer pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000Code. The Trustee shall have no obligation to mail to Certificateholders any statement required to be so mailed hereunder if the right to change the way Master Servicer has not provided such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access statement to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Beneficial Mortgage Services Inc)
Statements to Certificateholders. (a) On each Distribution Date, the Trustee shall prepare and shall make available to each Certificateholder Certificateholder, the Seller and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, Agencies a statement (the “Distribution Statement”) statingsetting forth:
(1i) the Class Available Funds for such Distribution Date separately stating available interest, and available principal;
(ii) the amount of interest being distributed on each Class of Certificates for such Distribution Date and the Certificate Rates constituted thereby;
(iii) the Component CC-1B Accrual Amount, Component CC-2B Accrual Amount and Component CC-3B Accrual Amount, if any;
(iv) the amount of reinvestment income distributed to the Trustee;
(v) the amount of principal being distributed on each Class of Certificates for such Distribution Date including for the Class 1A, Class 2A and Class 3A Certificates, the Component CC-1B Accrual Amount, Component CC-2B Accrual Amount and Component CC-3B Accrual Amount, respectively;
(vi) the Loss Amounts allocated to the Classes of Certificates and each Component on such Distribution Date and since the Closing Date;
(vii) any additions to principal of the Class 1A, Class 2A or Class 3A Certificates or the Class CC-1B, Class CC-2B or Class CC-3B Components in respect of Accrual Interest Shortfall;
(viii) the Certificate Principal Balances for each Class of Certificates and each Component before and after applying payments, increasing Certificate Principal Balances and allocating the Loss Amount on such Distribution Date;
(ix) the aggregate Pooled Component Principal Balance of the Related Pooled Components for each Class of Certificates and each Component immediately following the second preceding Pooled Security Distribution Dates; and
(x) the aggregate Pooled Component Principal Balance of the Related Pooled Components for each Class of Certificates and each Component immediately following the immediately preceding Pooled Security Distribution Dates. In the case of the information furnished pursuant to clauses (ii), (iii) and (v) above, the amounts shall also be expressed as a dollar amount per Single Certificate. The Trustee's responsibility for reporting the above information is limited to the availability, timeliness, and accuracy of the information set forth in the related Pooled Security Distribution Date Statements and any additional written information requested by the Trustee with respect to the Pooled Securities. If the Trustee receives any such additional information after preparing a statement required by this Section, the Trustee shall report the related adjustments in the statement prepared after receipt of such information. On each Supplemental Distribution Date, the Trustee will prepare and make available to each Certificateholder, the Rating Agencies and to the Seller a statement setting forth (i) the same information provided with respect to Distribution Dates described above but with respect to the Supplemental Distribution Date and (ii) the aggregate of each such amount for both the Supplemental Distribution Date and the immediately preceding Distribution Date including the new Certificate Rates constituted by the amount of interest being distributed on each Class of Certificates for such Supplemental Distribution Date and the immediately preceding Distribution Date.
(b) The Trustee shall prepare and make available to Certificateholders, the Rating Agencies and the Seller, based on and to the extent of the information so furnished to it in the Pooled Security Distribution Date Information, no later than five Business Days following each Distribution Date or if there will be a Supplemental Distribution Date following the Distribution Date, no later than three Business Days following the Supplemental Distribution Date, the following information which shall be presented separately for each group of Related Pooled Components:
(i) For each Pooled Component with an amount of monthly distribution to be included in the payment on the Certificates and Components on the related Distribution Date or Supplemental Distribution Date, and to the extent reported in the related Pooled Security Distribution Date Information:
(A) the Pooled Component Principal Balance of such Pooled Component or portion thereof included as part of the group of Related Pooled Components before and after the related Pooled Security Distribution Date, which date shall be specified;
(B) the Pooled Component Interest Rate, the effective Pooled Component Interest Rate and interest shortfalls net of compensating interest expressed as per annum rates borne by such Pooled Component or portion thereof included as part of the Related Group of Pooled Components with respect to the related Pooled Security Distribution Date;
(C) the amount of interest distributed on such Pooled Component or portion thereof included as part of the Related Group of Pooled Components on the related Pooled Security Distribution Date, as well as any amount by which the amount of interest scheduled to be distributed on such Pooled Component or portion thereof included as part of the Related Group of Pooled Components on such Pooled Security Distribution Date exceeded the amount of interest actually distributed thereon;
(D) all Realized Losses incurred on the Underlying Mortgage Loans on the related Pooled Security Distribution Date, since the date of issuance of the related Pooled Security and since the Mortgage Loan Information Date;
(E) all Realized Losses allocated to the Pooled Component or portion thereof included as part of the Related Group of Pooled Components on the related Pooled Security Distribution Date since the Mortgage Loan Information Date;
(F) the amount, aggregate principal balance and percentage of the Underlying Mortgage Loans backing the Related Pooled Security or portion thereof included as part of the Related Group of Pooled Securities that were (i) more than 30 but fewer than 60 days delinquent, (ii) more than 60 but fewer than 90 days delinquent, (iii) 90 days or more delinquent, (iv) in foreclosure, and (v) REO property, each Class as of P&I Certificates for the end of the reporting period to which the Pooled Security Distribution Date Statement delivered with respect to such Pooled Security as of the related Pooled Security Distribution Date;
(2G) the amount of principal distributed on each Class such Pooled Component or portion thereof included as part of P&I Certificates for such the Related Group of Pooled Components on the related Pooled Security Distribution Date;
(3H) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable total amount distributed on such Distribution Date (assuming in Pooled Component or portion thereof included as part of the case Related Group of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in Pooled Components on the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such related Pooled Security Distribution Date; and
(10I) whether the amount of any exchanges Pooled Security Credit Support remaining with respect to each related Pooled Security on the related Pooled Security Distribution Date;
(ii) For all Underlying Mortgage Loans backing all the Pooled Securities or portions thereof included as part of Exchangeable or Exchangeable REMIC Certificates have taken place since a Related Group of Pooled Securities, an aggregate statement of delinquency statistics reporting all of the preceding information specified in clause (i)(F) above in the aggregate for the related Pooled Security Distribution Date and each of the eleven prior reporting periods;
(iii) The number and aggregate Pooled Component Principal Balance of all of the Pooled Components or portions thereof included as part of each Related Group of Pooled Components as of the respective related Pooled Security Distribution Date; and
(iv) The aggregate outstanding principal balance of the Underlying Mortgage Loans backing all of the Pooled Securities and portions thereof included as part of a Related Group of Pooled Securities as reported on the related Pooled Security Distribution Date Statements.
(c) The Trustee shall promptly notify the Seller if it obtains actual knowledge from any underlying trustee or servicer of an Underlying Series following a Distribution Date or Supplemental Distribution Date, if as applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes corrected Pooled Security Distribution Date Information with respect to a Pooled Security which results in a change in excess of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination1,000. The Trustee shall consult with the Seller concerning such change and the Seller and the Trustee shall mutually agree on a course of action with respect thereto.
(d) The Trustee will make availablethe statements referred to in Sections 3.06(a) and 3.06(b) (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Seller and the Rating Agencies via the Trustee’s website, which is located at the date of this Agreement at “xxx.xxxxxx.xxx/xxx.” Persons that are unable to use the above website are entitled to have a paper copy mailed to them via first class mail by calling the Trustee at (000) 000-0000. The Trustee shall have the right to change the way the statements referred to above are distributed in order to make such distribution more convenient and/or more accessible to such other parties and to the Certificateholders, the Seller and the Rating Agencies. The Trustee shall provide timely and adequate notification to the Certificateholders, the Seller and the Rating Agencies regarding any such change.
(e) The Trustee promptly will furnish to the Seller and upon requestthe written request and at the expense of a Certificateholder, such Certificateholder and will make available to each Certificateholder, copies of any notices, statements, reports or other communications including, without limitation, the Underlying Pooled Security Distribution Date Statement, received by the Trustee in its capacity as a holder of Pooled Securities, with respect to the Pooled Securities related to the Certificates held by such Certificateholder. The Trustee shall furnish copies of all Pooled Security Distribution Date Statements for any Mortgage Certificate to the Rating Agencies promptly after its receipt of same. The Trustee may fulfill its obligations hereunder with respect to the distribution of the Pooled Security Distribution Date Statements by mailing the same together with the statements to Holders Certificateholders required pursuant to the first paragraph of the Certificates. Within a reasonable period of time after the end this Section 3.06.
(f) On or before March 31st of each calendar year, commencing in 2003, the Trustee shall furnish prepare and deliver by first class mail to the Seller and to each Person who at any time during the prior calendar year was the Holder a Certificateholder of a Certificate, if requested in writing by such Person, record a statement containing the information required to be contained in the regular monthly report to Certificateholders, as set forth in subclauses clauses (1ii), (iii) and (2v) above, in each case of Section 3.06(a) aggregated for such prior calendar year or in the case of a Certificateholder, the applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force.
(g) The Trustee shall be responsible for preparing, at its own expense, signing and filing, on behalf of the Trust, federal income tax and information returns with the Internal Revenue Service (“IRS”) and, if required, income tax returns in the state where the Corporate Trust Office is located and/or (at the expense of the Trust) the returns of any other state taxing authority the necessity of filing of which shall have been notified and confirmed to the Trustee in writing either by the delivery of an Opinion of Counsel to such effect or by the delivery to the Trustee of a written notification to such effect by the taxing authority of any such state. The Seller shall provide the Trustee will also make available copies within 10 days of the periodic reports Closing Date all information deemed necessary by the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through fulfill its obligations under this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000paragraph. The Trustee shall have furnish to each Certificateholder at the right to change the way time required by law such statements information reports or returns as are distributed in order to make such distribution more convenient and/or more accessible required by applicable federal, state or local law with respect to the above parties, Trust to enable Certificateholders to prepare their tax returns and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access will furnish comparable information to the Trustee’s internet website, the Trustee may require registration IRS and the acceptance of a disclaimerother taxing authorities as and when required by law to do so.
Appears in 1 contract
Samples: Trust and Pooling Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Determination Date, the Servicer shall provide to the Trustee shall prepare and make available (with a copy to the Rating Agencies) for the Trustee to forward to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, of record a statement (the each a “Distribution Date Statement”) statingsetting forth with respect to the related Collection Period at least the following information as to the Certificates to the extent applicable:
(1i) the amount of the distribution allocable to principal of the Class A Certificates and the Class B Certificates; the amount of the distribution allocable to interest distributed on each the Class A Certificates and the Class B Certificates;
(ii) the Pool Balance as of P&I Certificates the close of business on the last day of such Collection Period;
(iii) the amount of the Servicing Fee paid to the Servicer with respect to such Collection Period and the Class A Percentage and Class B Percentage of the Servicing Fee paid to the Servicer with respect to such Collection Period;
(iv) the amount of any Class A Interest Carryover Shortfall, Class A Principal Carryover Shortfall, Class B Interest Carryover Shortfall and Class B Principal Carryover Shortfall on the Distribution Date immediately following such Collection Period and the change in such amounts from those with respect to the immediately preceding Distribution Date;
(v) the Class A Pool Factor and the Class B Pool Factor as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(vi) the amount of the aggregate Realized Losses, if any, for such Collection Period;
(vii) the aggregate Principal Balance of all Receivables which were more than 30, 60 and 90 days delinquent as of the close of business on the last day of such Collection Period;
(viii) the amount on deposit in the Reserve Fund on such Distribution Date, after giving effect to distributions made on such Distribution Date;
(2ix) the Class A Principal Balance and the Class B Principal Balance as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(x) the amount of principal otherwise distributable to the Class B Certificateholders that is being distributed to the Class A Certificateholders on each Class of P&I Certificates for such Distribution Date;
(3xi) the Group 1 Interest Distribution Amount, aggregate Purchase Amount of Receivables repurchased by the Group 2 Interest Distribution Amount and Seller or purchased by the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) Servicer with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution DateCollection Period; and
(10xii) whether any exchanges the aggregate Principal Balance of Exchangeable or Exchangeable REMIC Certificates all Receivables (excluding the Principal Balance of Receivables which have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received become Defaulted Receivables) which have been repossessed by the Certificateholder as a result of such exchangeServicer. The Each amount set forth pursuant to subclauses clauses (1i), (ii),(iii) and (2iv) will above shall be expressed in the aggregate and as a dollar amount per Certificate will a $1,000 Denominationof original denomination of a Certificate. The Trustee shall make available, upon request, copies Copies of such statements may be obtained by Certificate Owners by a request in writing addressed to the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Trustee.
(b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Trustee shall furnish mail, to each Person who at any time during the such calendar year was the Holder of shall have been a Certificate, if requested in writing by such PersonCertificateholder, a statement provided by the Servicer containing the information set forth sum of the amounts described in subclauses clauses (1i), (ii), (iii) and (2iv) above, in each case aggregated above for such calendar year or or, in the event such Person shall have been a Certificateholder during a portion of such calendar year, for the applicable portion thereof during which of such year, for the purposes of such Certificateholder’s preparation of Federal income tax returns. In addition, the Servicer shall furnish to the Trustee for distribution to such Person was at such time any other information necessary under applicable law for the preparation of such income tax returns.
(c) The Servicer, at its own expense, shall cause a Certificateholder. Such obligation firm of the Trustee shall nationally recognized accountants to prepare any state or local tax returns required to be deemed to have been satisfied to the extent that substantially comparable information shall be provided filed by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above partiesTrust, and the Trustee shall provide timely execute and adequate notification file such returns if requested to do so by the Servicer. The Trustee, upon written request, will promptly furnish the Servicer with all above parties regarding any such changes. As a condition to access information known to the Trustee’s internet website, Trustee as may be reasonably required in connection with the Trustee may require registration and preparation of all tax returns of the acceptance of a disclaimerTrust.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank One Auto Securitization LLC)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any Class PO Deferred Amounts for such Distribution Date;
(xiv) the Class 1-A-13 Notional Amount, the Class 1-A-20 Notional Amount and the Class 30-IO Notional Amount for such Distribution Date;
(xv) for each Loan Group, the amount of Reimbursement Amounts; and
(10xvi) whether any exchanges for each Loan Group, the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsPO Recovery and the Non-PO Recovery.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paidthe Master Servicer, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each Trust REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-2 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates and the Component Balance of each Component after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any Class PO Deferred Amounts for such Distribution Date;
(xiv) the Extraordinary Trust Expenses Notional Amount for each Class of Interest-Only Certificates and the notional amount for each Interest Only Component for such Distribution Date;
(xv) for each Loan Group, the Reimbursement Amount;
(xvi) for each Loan Group, the amount of Recoveries, the Class PO Recovery and the Non-PO Recovery;
(a) the Deficiency Amount, if any, for such Distribution Date and (b) amounts, if any, in respect of the Deficiency Amount paid under the Policy;
(xviii) the amount remaining in the Reserve Fund after taking into account the Reserve Withdrawal, if any, for such Distribution Date; and
(10xix) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Rounding Amounts for such Distribution Date and, if applicableand the amount applied to repay such Rounding Amounts withdrawn on the prior Distribution Date.
(b) No later than each Distribution Date, the Class designationsSecurities Administrator, Class Balancesbased upon information supplied to it on the Master Servicer's Certificate, Maximum Class Balances shall make available to Assured Guaranty, each Holder of a Certificate, each Rating Agency and any interest and principal paidthe Master Servicer, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Assured Guaranty, Certificateholders, and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC created hereunder, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-4 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based solely upon the information provided to the Trustee on the Master Servicer's Certificate delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (containing the “following information with respect to such Distribution Statement”) statingDate:
(1i) the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates for such Distribution Dateany Payoffs, Curtailments and Liquidation Proceeds included therein;
(2ii) the amount of principal distributed on each allocable to interest (including the Accrual Distribution Amount), any Class of P&I Certificates for Unpaid Interest Shortfall included in such Distribution Datedistribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(3iii) if the Group 1 Interest Distribution Amountdistribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the Group 2 Interest Distribution Amount amount of the shortfall and the Group 3 Interest Distribution Amountallocation thereof as between principal and interest;
(4iv) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for each Loan Group for such Distribution Date, and the Total Senior Percentage and the Aggregate Subordinate Percentage for such Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(viii) the amount of the Master Servicing Fee paid to or retained by the Master Servicer with respect to each Loan Group and such Distribution Date;
(ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9xi) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any Class A-PO Deferred Amounts for such Distribution Date; and
(10xv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations1-A-44, Class Balances, Maximum 1-A-WIO and Class Balances and any interest and principal paid, including any shortfalls allocated, 2-A-WIO Notional Amount for such Distribution Date.
(b) In the case of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth information furnished pursuant to subclauses clauses (1i), (ii) and (2x) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. The Trustee shall make available, upon request, copies of the Underlying On each Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearDate, the Trustee shall furnish make available to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) aboveFinancial Market Service, in each case aggregated electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the statement described in Section 5.04(a) for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerDistribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding MTG Pass Thru Certs Ser 2003-3)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xxi) and (xxii) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the amount of Servicing Advances made since the previous Distribution Date, the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date and the amount of Servicing Advances reimbursed since the previous Distribution Date;
(xiii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xvi) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xviii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xix) the Class 1-CB-IO Notional Amount, Class 2-CB-IO Notional Amount, Class 3-CB-IO Notional Amount and Class 4-CB-IO Notional Amount and Class CB-IO Notional Amount for such Distribution Date;
(xx) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xxi) for each Loan Group the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxii) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxiii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxiv) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date.
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
. The Trustee will make the monthly statement to Certificateholders (2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableat its option, any additional files containing the Class designationssame information in an alternative format) available each month to Certificateholders, Class Balancesand other parties to this Agreement via the Trustee's Internet website, Maximum Class Balances initially located at "www.ctslink.com". The Trustee will also make available copies of the xxxxxxxx xxxxxxs the Trustee files with the Securities and any interest and principal paidExchange Commission, including any shortfalls allocateddistribution reports on Form 10-D, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as annual reports on Form 10-K, current reports on Form 8-K (each, a result of such exchange. The amount set forth pursuant to subclauses (1"Form 8-K") and amendments to these reports available through this website promptly (2but no later than one Business Day) will after they are filed with the Securities and Exchange Commission. Assistance in using this website can be expressed as a dollar amount per Certificate will a $1,000 Denominationobtained by calling the Trustee's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitlxx xx xxxx x xaper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1iii), (iv) and (2ix) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-1)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, the Class 5-CE Distributable Amount, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(iii) with respect to the Shifting Interest Certificates, if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal on such Distribution Date;
(v) for Loan Group 5, the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(vi) for each Shifting Interest Loan Group, the Pool Stated Principal Balance for the following Distribution Date and for Loan Group 5, Loan Subgroup 5A and Loan Subgroup 5B, the aggregate Stated Principal Balance of the Group 5 Mortgage Loans, the Subgroup 5A Mortgage Loans and Subgroup 5B Mortgage Loans, as applicable, as of the Due Date in the month of such Distribution Date;
(vii) with respect to each Shifting Interest Loan Group, the Senior Percentage for each Loan Group, and the Subordinate Percentage for the following Distribution Date, the CB Crossed Loan Group Senior Percentage and the CB Crossed Loan Group Subordinate Percentage for the following Distribution Date;
(viii) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(ix) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(x) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(xi) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xii) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xiii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiv) for each Shifting Interest Loan Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xv) the Notional Amount for each Class of Interest-Only Certificate for such Distribution Date;
(xvi) the Accrued Certificate Interest in respect of each Class of Group 5 Certificates for such Distribution Date and any allocation related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) with respect to Loan Group 5, the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date, the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original aggregate Stated Principal Balance of Loan Group 5;
(xix) the Available Funds;
(xx) for each Loan Group, the aggregate amount of Realized Losses or Applied Realized Loss Shortfalls Amounts, as applicable, incurred during the preceding calendar month and for each Group for such Distribution Date separately identifying any reduction thereof due to the allocations of Realized Losses or Applied Realized Loss Amounts;
(xxi) for each Loan Group, the amount of Buy-Down Funds, Recoveries and Reimbursement Amounts; and
(xxii) the amount of the distribution made on such Distribution Date to the Holders of the Class 5-P Certificates.
(assuming b) No later than each Distribution Date, the Securities Administrator, based upon information supplied to it on the Master Servicer's Certificates, shall make available to each Holder of a Certificate, each Rating Agency and the Master Servicer a statement setting forth the information set forth in Section 5.06(a). In the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.06(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and make available to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.06(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to the NIMS Insurer and each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.06(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holder of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1i) for each Loan Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Loan Group, the amount allocable to interest, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates and the Component Balance of each Component after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, (A) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(viii) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date (assuming in and the case aggregate amount of a Class Periodic Advances outstanding as of Exchangeable REMIC Certificates no exchanges have occurred and in the case close of a Class of Exchangeable Certificates that all exchanges have occurred)business on such Distribution Date;
(9x) for each Loan Group, the Extraordinary Trust Expenses number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group or any Class PO Deferred Amounts for such Distribution Date;
(xiv) the Notional Amount for each Class of Interest Only Certificates and the notional amount for each interest only Component for such Distribution Date;
(xv) for each Loan Group, the Reimbursement Amount;
(xvi) the Yield Maintenance Agreement Payments received from the Counterparty and Yield Maintenance Amounts and Yield Maintenance Amount Shortfalls paid to the Class 2-A-1, Class 3-A-12 and Class 4-A-1 Certificates; and
(10xvii) whether any exchanges for each Loan Group, the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicableRecoveries, the Class designationsPO Recovery and the Non-PO Recovery.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paidthe Master Servicer, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by a statement setting forth the Certificateholder as a result of such exchange. The amount information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i) and (2ii) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee Securities Administrator will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and other parties to this Agreement via the Securities Administrator's Internet website. The Securities Administrator's Internet website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by caxxxxx xxx Xxxxxities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the website are entitled xx xxxx x xxxer copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC created hereunder, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-7 Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and based on information in the Mortgage Certificate Distribution Date Statements, the Securities Administrator shall determine the following information with respect to such Distribution Date, the Trustee shall prepare and make available to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(i) for Group 1) , the amount allocable to principal, separately identifying the aggregate amount of interest distributed on each Class of P&I Certificates any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for Group 2, the Group 2 Principal Distribution Amount for such Distribution Date, separately identifying the amounts of principal received with respect to each Mortgage Certificate;
(2iii) for Group 1, the amount of principal distributed on each allocable to interest, any Class of P&I Certificates for Unpaid Interest Shortfall included in such Distribution Datedistribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(3iv) the for Group 1 Interest Distribution Amount2, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group Reductions for such Distribution Date, separately identifying the amounts of interest received with respect to each Mortgage Certificate;
(5v) if the Interest Accrual Amount for each distribution to the Holders of such Class of Certificates (other is less than the Class 1-A-R Certificate) full amount that would be distributable on to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Holders if there were sufficient funds available therefor, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Distribution Amount shortfall and the Class 3-A-3 Accrual Distribution Amountallocation thereof as between principal and interest;
(6vi) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(7vii) with respect to each Mortgage Certificate, the Pool Stated Principal Balance for the following Distribution Date;
(viii) the aggregate Mortgage Certificate Principal Balance as of such the Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) A) the Group 1 Senior Percentage, the Group 1 Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date and (B) the Group 1 Senior Percentage, the Group 1 Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(x) for Group 1, the amount of the Servicing Fee paid to or retained by each Servicer with and such Distribution Date;
(xi) the Pass-Through Rate for each such Class of Certificates with respect to such Distribution Date;
(xii) for Group 1, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(xiii) the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for Group 1, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for Group 1, the aggregate amount of Realized Losses incurred during the Prior Period or any Class PO Deferred Amount for such Distribution Date;
(xvii) for Group 2, the amount of any Group 2 Realized Loss Shortfalls Shortfall Amount allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Date;
(9xviii) the Extraordinary Trust Expenses Class 1-A-11 Notional Amount, the Class 1-A-12 Notional Amount, the Class 30-IO Notional Amount and the Class 2-A-8 Notional Amount for such Distribution Date;
(xix) for Group 1, the amount of Reimbursement Amounts; and
(10xx) whether any exchanges for Group 1 the amount of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicabletotal Recoveries, the Class designationsPO Recovery and the Non-PO Recovery.
(b) No later than each Distribution Date, Class Balancesthe Securities Administrator, Maximum Class Balances based upon information supplied to it on the Master Servicer's Certificate and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar yearStatements, the Trustee shall furnish make available to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Personeach Rating Agency and the Master Servicer, (i) a statement containing setting forth the information set forth in subclauses (1Section 5.06(a) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.ii)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2005-3 Trust)
Statements to Certificateholders. (a) On each Distribution Determination Date, the Servicer shall provide to the Trustee shall prepare and make available (with a copy to the Rating Agencies) for the Trustee to forward to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, of record a statement (each a "Distribution Date Statement") setting forth with respect to the “Distribution Statement”) statingrelated Collection Period at least the following information as to the Certificates to the extent applicable:
(1i) the amount of the distribution allocable to principal of the Class A Certificates and the Class B Certificates; the amount of the distribution allocable to interest distributed on each the Class A Certificates and the Class B Certificates;
(ii) the Pool Balance as of P&I Certificates the close of business on the last day of such Collection Period;
(iii) the amount of the Servicing Fee paid to the Servicer with respect to such Collection Period and the Class A Percentage and Class B Percentage of the Servicing Fee paid to the Servicer with respect to such Collection Period;
(iv) the amount of any Class A Interest Carryover Shortfall, Class A Principal Carryover Shortfall, Class B Interest Carryover Shortfall and Class B Principal Carryover Shortfall on the Distribution Date immediately following such Collection Period and the change in such amounts from those with respect to the immediately preceding Distribution Date;
(v) the Class A Pool Factor and the Class B Pool Factor as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(vi) the amount of the aggregate Realized Losses, if any, for such Collection Period;
(vii) the aggregate Principal Balance of all Receivables which were more than 30, 60 and 90 days delinquent as of the close of business on the last day of such Collection Period;
(viii) the amount on deposit in the Reserve Fund on such Distribution Date, after giving effect to distributions made on such Distribution Date;
(2ix) the Class A Principal Balance and the Class B Principal Balance as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above;
(x) the amount of principal otherwise distributable to the Class B Certificateholders that is being distributed to the Class A Certificateholders on each Class of P&I Certificates for such Distribution Date;
(3xi) the Group 1 Interest Distribution Amount, aggregate Purchase Amount of Receivables repurchased by the Group 2 Interest Distribution Amount and Seller or purchased by the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) Servicer with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution DateCollection Period; and
(10xii) whether any exchanges the aggregate Principal Balance of Exchangeable or Exchangeable REMIC Certificates all Receivables (excluding the Principal Balance of Receivables which have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received become Liquidated Receivables) which have been repossessed by the Certificateholder as a result of such exchangeServicer. The Each amount set forth pursuant to subclauses clauses (1i), (ii),(iii) and (2iv) will above shall be expressed in the aggregate and as a dollar amount per Certificate will a $1,000 Denominationof original denomination of a Certificate. The Trustee shall make available, upon request, copies Copies of such statements may be obtained by Certificate Owners by a request in writing addressed to the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Trustee.
(b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Trustee shall furnish mail, to each Person who at any time during the such calendar year was the Holder of shall have been a Certificate, if requested in writing by such PersonCertificateholder, a statement provided by the Servicer containing the information set forth sum of the amounts described in subclauses clauses (1i), (ii), (iii) and (2iv) above, in each case aggregated above for such calendar year or or, in the event such Person shall have been a Certificateholder during a portion of such calendar year, for the applicable portion thereof during which of such year, for the purposes of such Certificateholder's preparation of Federal income tax returns. In addition, the Servicer shall furnish to the Trustee for distribution to such Person was at such time any other information necessary under applicable law for the preparation of such income tax returns.
(c) The Servicer, at its own expense, shall cause a Certificateholder. Such obligation firm of the Trustee shall nationally recognized accountants to prepare any state or local tax returns required to be deemed to have been satisfied to the extent that substantially comparable information shall be provided filed by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above partiesTrust, and the Trustee shall provide timely execute and adequate notification file such returns if requested to do so by the Servicer. The Trustee, upon written request, will promptly furnish the Servicer with all above parties regarding any such changes. As a condition to access information known to the Trustee’s internet website, Trustee as may be reasonably required in connection with the Trustee may require registration and preparation of all Texas tax returns of the acceptance of a disclaimerTrust.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bank One Texas National Association)
Statements to Certificateholders. (a) Prior to the Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and with respect to subsections (xx) and (xxi) below, after consultation with the Depositor, the Trustee shall determine the following information with respect to such Distribution Date:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(iv) for each Group, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for such Distribution Date;
(viii) for each Loan Group, the Senior Percentage and the Subordinate Percentage for such Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(xi) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiv) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xv) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month and for each Group, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class 1-A-1 Notional Amount, Class 1-A-5 Notional Amount, Class X-IO Notional Amount, Class 1-X-IO Notional Amount, Class 2-X-IO Notional Amount and Class XB-IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) for each Loan Group, the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(xxii) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder;
(xxiii) the number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Trust since the previous Distribution Date; and
(b) No later than each Distribution Date, the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate with a $1,000 Denomination. On each Distribution Date, the Trustee shall prepare and make available furnish to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” Financial Market Service, in electronic or such other site as may be designated format and media mutually agreed upon by the Trustee, a the Financial Market Service and the Depositor, the information contained in the statement (the “Distribution Statement”described in Section 5.04(a) stating:
(1) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) the amount of any Realized Loss Shortfalls allocated as of such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(9) the Extraordinary Trust Expenses for such Distribution Date; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall will make availablethe monthly statement to Certificateholders (and, upon requestat its option, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement additional files containing the same information set forth in subclauses (1an alternative format) available each month to Certificateholders, and (2) aboveother parties to this Agreement via the Trustee's Internet website, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in forceinitially located at "www.ctslink.com". The Trustee will also make available copies of the periodic reports xxxxxxxx xxxxxxs the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced this website can be obtained by calling the Trustee’s 's customer service relations desk at (000301) 000815-00006600. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties, parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As Within a condition to access to reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (iii), (iv) and (ix) of Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the acceptance Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a disclaimerconvention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the REMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-8)
Statements to Certificateholders. (a) On each Distribution Date, the Trustee shall prepare and make available include with each distribution to each Certificateholder of record, a statement, prepared by the Servicer, based on information in the Servicer's Certificate furnished pursuant to Section 10.01(b) of the 1996-B Servicing Supplement, setting forth for the related Collection Period and distribution the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” following information as of the related Record Date or Deposit Date or such other site Distribution Date, as the case may be designated by the Trustee, a statement (the “Distribution Statement”) statingbe:
(1i) the Investor Percentage for such Collection Period, stated separately for Interest Collections and Loss Amounts, and for Principal Collections;
(ii) the total amount being distributed to Investor Certificateholders in such distribution;
(iii) the total amount being distributed to each Class of Investor Certificateholders in such distribution;
(iv) the total amount of interest being distributed on to each Class of P&I Certificates for Investor Certificateholders in such Distribution Datedistribution;
(2v) the amount amount, if any, of principal distributed on each Class of P&I Certificates for A-1 Interest Carryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall and Class B Interest Carryover Shortfall included in such Distribution Datedistribution;
(3vi) the Group 1 amount, if any, of the remaining unpaid Class A-1 Interest Distribution AmountCarryover Shortfall, the Group 2 Class A-2 Interest Distribution Amount Carryover Shortfall, Class A-3 Interest Carryover Shortfall and the Group 3 Class B Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance of each Class of Certificates Carryover Shortfall after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)distribution;
(7vii) with respect the total amount of principal being distributed to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as Class of Investor Certificateholders in such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Datedistribution;
(8) viii) the amount Class A-1 Allocation Percentage, the Class A-2 Allocation Percentage, the Class A-3 Allocation Percentage, the Class B Allocation Percentage and the amount, if any, of any Realized the reimbursement of Class A-1 Charged-off Amounts, Class A-1 Residual Value Loss Shortfalls allocated as of Amounts and Class A-1 Additional Loss Amounts, Class A-2 Charged-off Amounts, Class A-2 Residual Value Loss Amounts and Class A-2 Additional Loss Amounts, Class A-3 Charged-off Amounts, Class A-3 Residual Value Loss Amounts and Class A-3 Additional Loss Amounts and Class B Charged-off Amounts, Class B Residual Value Loss Amounts and Class B Additional Loss Amounts being included in such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)distribution;
(9ix) the Extraordinary Trust Expenses for amount, if any, of the reimbursement of Class A-1 Certificate Principal Loss Amounts, Class A-2 Certificate Principal Loss Amounts, Class A-3 Certificate Principal Loss Amounts and Class B Certificate Principal Loss Amounts included in such Distribution Date; anddistribution;
(10x) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date andamount, if applicableany, of the aggregate of unreimbursed Class designationsA-1 Certificate Principal Loss Amounts, Class BalancesA-2 Certificate Principal Loss Amounts, Maximum Class Balances A-3 Certificate Principal Loss Amounts and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Class B Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Securitization Trust Agreement (World Omni 1996-B Automobile Lease Securitization Trust)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each Distribution Datemonth, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01, the Trustee shall prepare and make available determine the following information with respect to each Certificateholder and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) statingDate:
(1i) for each Group, the amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(ii) for each Group and the Class SES and Class IO Certificates, the amount allocable to interest, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(iii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest distributed on each Class of P&I Certificates for such Distribution Datethe shortfall and the allocation thereof as between principal and interest;
(2iv) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Certificate Balance of each Class of Certificates after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) v) for each Loan Group, the Pool Stated Principal Balance for the following Distribution Date;
(vi) for each Loan Group, the Senior Percentage and the Subordinate Percentage for the following Distribution Date and the Total Senior Percentage and Aggregate Subordinate Percentage for the following Distribution Date;
(vii) the amount of any Realized Loss Shortfalls allocated as of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group and such Distribution Date (assuming in and, if applicable, the case amount of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Supplemental Servicing Fee payable to the Servicer with respect to such Distribution Date;
(9viii) the Extraordinary Trust Expenses Pass-Through Rate for each such Class of Certificates (or Component) with respect to such Distribution Date;
(ix) for each Loan Group, the amount of Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date;
(x) for each Loan Group, the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (1) 1 to 30 days (2) 31 to 60 days (3) 61 to 90 days and (4) 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xi) for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition thereof;
(xii) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) for each Group, the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the preceding calendar month;
(xv) the Class 1-A-SES Notional Amount, the Class 1-A-IO Notional Amount, the Class 2-SES Notional Amount, the Class 2-IO Notional Amount and the Class 3-SES Notional Amount for such Distribution Date;
(xvi) the Ancillary Income for such Distribution Date; and
(10xvii) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Class SES Compensating Interest for such Distribution Date and, if applicableDate.
(b) No later than each Distribution Date, the Class designationsTrustee, Class Balancesbased upon information supplied to it on the Servicer's Certificates, Maximum Class Balances shall make available to each Holder of a Certificate, each Rating Agency and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as Servicer a result of such exchange. The amount statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to subclauses clauses (1i), (ii) and (2ix) will of Section 5.04(a), the amounts shall be expressed as a dollar amount per Certificate will with a $1,000 Denominationdenomination. On each Distribution Date, the Trustee shall prepare and furnish to each Financial Market Service, in electronic or such other format and media mutually agreed upon by the Trustee, the Financial Market Service and the Depositor, the information contained in the statement described in Section 5.04(a) for such Distribution Date. The Trustee will make the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Trustee's Internet website. The Trustee's Internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1i) and (2ii) aboveof Section 5.04(a), in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies shall deliver to the Holders of the periodic Certificates any reports or information the Trustee prepares and files with is required by this Agreement or the Securities and Exchange CommissionCode, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holders of the Residual Certificates for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holders of the Residual Certificates by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Pass THR Certs Ser 2003-H)
Statements to Certificateholders. On each Distribution Date(a) Based on the information set forth in the Electronic File, the Trustee shall will prepare and make available the Monthly Report substantially in the form of Exhibit N for each Distribution Date to each Certificateholder Certificateholder, the Underwriter and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by parties hereto.
(b) Each Monthly Report shall set forth the Trustee, a statement (the “Distribution Statement”) statingfollowing:
(1i) the amount of interest distributed on each Class of P&I Certificates for such Distribution Date;
(2) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Distribution Amount for each Group for such Distribution Date;
(5) the Interest Accrual Amount for each Class of Certificates (other than the Class 1-A-R Certificate) distributable on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), the Class 1-A-3 Accrual Distribution Amount, the Class 2-A-3 Accrual Distribution Amount and the Class 3-A-3 Accrual Distribution Amount;
(6) the outstanding Class Balance distribution to Holders of each Class of Certificates allocable to interest, separately identifying any related Unpaid Class Interest Shortfall included in such distribution and any remaining Unpaid Class Interest Shortfall after giving effect to such distribution;
(ii) the amount of such distribution to Holders of each Class of Certificates allocable to principal, separately identifying the aggregate amount of any Principal Prepayments included therein, and any remaining related Unpaid Class Principal Shortfall after giving effect to such distribution;
(iii) the Class Principal Balance for each Class of Certificates, after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date Date; the Class M-1 Principal Balance and the Class M-1 Adjusted Principal Balance (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7if different) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon on such Distribution Date; the Class M-2 Principal Balance and any allocation the Class M-2 Adjusted Principal Balance (if different) after giving effect to the distribution of any principal losses thereto in respect on such Distribution Date; the Class B-1 Principal Balance and the Class B-1 Adjusted Principal Balance (if different) after giving effect to the distribution of principal on such Mortgage Certificate Distribution Date;
(8) iv) the amount of any Realized Loss Shortfalls allocated as of Class A Percentage, Class M-1 Percentage, Class M-2 Percentage and Class B Percentage for such Distribution Date and the following Distribution Date;
(assuming v) the Pool Principal Balance of the Contracts for such Distribution Date;
(vi) the Pool Factor;
(vii) the number and aggregate principal balances of Contracts delinquent (a) 30-59 days and (b) 60 or more days;
(viii) the number of Manufactured Homes that were repossessed during the month ending immediately prior to such Distribution Date, the number of repossessed Manufactured Homes that remain in inventory as of the case last day of the related Due Period and repossessed Manufactured Homes purchased by the Seller or a subsidiary of the Seller from the Trust (during the related Due Period and cumulatively) by number of Contracts, aggregate Principal Balance of such Contracts and aggregate purchase price;
(ix) number of Contracts and aggregate Principal Balance of Contracts extended or otherwise amended during the Due Period preceding current Distribution Date.
(x) the Class M-1 Distribution Test;
(xi) the Class M-2 Distribution Test;
(xii) the Class B Distribution Test;
(xiii) the Weighted Average Net Contract Rate of Exchangeable REMIC Certificates no exchanges have occurred all outstanding Contracts;
(xiv) the Class M-1 Interest Deficiency Amount, if any, for such Distribution Date;
(xv) the Class M-2 Interest Deficiency Amount, if any, for such Distribution Date;
(xvi) the Class B-1 Interest Deficiency Amount, if any, for such Distribution Date;
(xvii) the Targeted Overcollateralization Amount, Overcollateralization Amount, Overcollateralization Deficiency Amount and in Overcollateralization Release Amount, if any, for such Distribution Date;
(xviii) the case of a Class of Exchangeable Certificates that all exchanges have occurredAdditional Principal Distribution Amount, if any, to be distributed on such Distribution Date pursuant to Section 8.03(a)(11) or Section 8.03(a)(12);
(9xix) the Extraordinary Trust Expenses for such Distribution DateCumulative Realized Losses; and
(10) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the preceding Distribution Date and, if applicable, the Class designations, Class Balances, Maximum Class Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or Exchangeable Certificates that were received by the Certificateholder as a result of such exchange. The amount set forth pursuant to subclauses (1) and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denomination. The Trustee shall make available, upon request, copies of the Underlying Distribution Date Statements for any Mortgage Certificate Distribution Date to Holders of the Certificates. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses (1) and (2) above, in each case aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Origen Manufactured Housng CNT Sen/Sub as-BCK CRT Sr 2002-A)
Statements to Certificateholders. On (a) Prior to the Distribution Date in each month, based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with respect to subsections (W) and (X) below, after consultation with the Depositor, the Securities Administrator shall determine the following information with respect to the Certificates and such Distribution Date:
(A) the actual Distribution Date, the Trustee shall prepare and make available to each Certificateholder Record Date and the Rating Agency on its website at “xxxx://xxx.xxxxxxx.xxx” or such other site as may be designated by the Trustee, a statement (the “Distribution Statement”) stating:
(1) the amount of interest distributed on Interest Accrual Period for each Class of P&I Certificates for such Distribution Date;
(2B) the Pool Distribution Amount for each Loan Group;
(C) the amount of principal distributed on each Class of P&I Certificates for such Distribution Date;
(3) the Group 1 Interest Distribution Amount, the Group 2 Interest Distribution Amount and the Group 3 Interest Distribution Amount;
(4) the Principal Pool Distribution Amount for each Loan Group for such Distribution Dateallocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(5D) the Interest Accrual amount of the Pool Distribution Amount for each Loan Group allocable to interest and for each Related Group, any Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall or Component Unpaid Interest Shortfall after giving effect to such distribution;
(E) if the distribution to the Holders of such Class of Certificates (other is less than the Class 1-A-R Certificate) full amount that would be distributable on to such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)Holders if there were sufficient funds available therefor, the Class 1-A-3 Accrual Distribution Amount, amount of the Class 2-A-3 Accrual Distribution Amount shortfall and the Class 3-A-3 Accrual Distribution Amountallocation thereof as between principal and interest;
(6F) the outstanding Class Certificate Balance of each Class of Certificates and the Component Balance of each Component before and after giving effect to the distribution of principal and any allocation of Realized Loss Shortfalls made on such Distribution Date (assuming in the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred);
(7) with respect to each Mortgage Certificate, the aggregate Mortgage Certificate Balance as of such Mortgage Certificate Distribution Date after giving effect to the distribution of principal made thereon and any allocation of any principal losses thereto in respect of such Mortgage Certificate Distribution Date;
(8) G) for each Loan Group, the amount of any Realized Loss Shortfalls allocated as of such Pool Principal Balance for the preceding Distribution Date (assuming in and the case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred)related Distribution Date;
(9H) the Extraordinary Trust Expenses Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for each Loan Group and each Distribution Date and the Aggregate Crossed Senior Percentage and the Aggregate Crossed Subordinate Percentage for such Distribution Date; and;
(10I) whether the amount of the Administrative Fees paid to or retained by the Servicers with respect to each Loan Group and such Distribution Date;
(J) the Pass-Through Rate for each such Class of Certificates and each Component with respect to such Distribution Date;
(K) the amount of Periodic Advances with respect to the Mortgage Loans included in the distribution on such Distribution Date and the aggregate amount of Periodic Advances outstanding with respect to the Mortgage Loans as of the close of business on the Determination Date immediately preceding such Distribution Date;
(L) the number and aggregate principal amounts of the Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and 91 or more days, (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(M) with respect to any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date andand the date of acquisition of the REO Properties;
(N) for each Loan Group, the total number and principal balance of any REO Properties (and market value, if applicableavailable) as of the close of business on the Determination Date preceding such Distribution Date;
(O) the aggregate amount of Realized Losses with respect to the Loan Group incurred during the preceding calendar month and any PO Deferred Amounts for the Class 4-PO Certificates and each X-PO Component for such Distribution Date;
(P) the Class 2-X-IO Notional Amount, the Class designations3-X-IO Notional Amount, the Class BalancesX-IO Notional Amount and the Class 4-IO Notional Amount for such Distribution Date;
(Q) for each Loan Group, Maximum Class Balances the Reimbursement Amounts;
(R) for each Loan Group, the amount of Recoveries, the PO Recovery and the Non-PO Recovery;
(S) any interest expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and principal paidthe parties to whom such payments were made;
(T) any material modifications, including any shortfalls allocatedextensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(U) for the Mortgage Loans contributing to or in each Loan Group, the number and aggregate Stated Principal Balance, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(W) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any Classes covenants under this Agreement of Exchangeable REMIC Certificates which the Securities Administrator has knowledge or Exchangeable Certificates that were has received written notice; and For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the so-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the Certificateholder as close of business on the Mortgage Loan's next succeeding Due Date, and a result Mortgage Loan would be more than 30-days delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan's second succeeding Due Date.
(b) No later than each Distribution Date, the Securities Administrator, based upon information supplied to it on the Master Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Master Servicer, a single statement setting forth the information set forth in Sections 5.05(a). On each Distribution Date, the Securities Administrator shall prepare and furnish to each Financial Market Service, in electronic or such exchangeother format and media mutually agreed upon by the Securities Administrator, the Financial Market Service and the Depositor, the information contained in the Master Servicer's Certificate described in Section 4.01 for such Distribution Date. The amount set forth pursuant Securities Administrator will make the Monthly Statement to subclauses Certificateholders (1and, at its option, any additional files containing the same or additional information in an alternative format) available each month to Certificateholders and (2) will be expressed as a dollar amount per Certificate will a $1,000 Denominationother parties to this Agreement via the Securities Administrator's Internet website. The Trustee Securities Administrator's Internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the Monthly Statements to Certificateholders are distributed in order to make available, upon request, copies of such distribution more convenient and/or more accessible to the Underlying Distribution Date Statements for above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any Mortgage Certificate Distribution Date to Holders of the Certificatessuch changes. Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was the Holder of a Certificate, if requested in writing by such Person, a statement containing the information set forth in subclauses clauses (1C) and (2D) above, in each case of Section 5.05(a) aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force. The Trustee will also make available copies Securities Administrator shall deliver to the Holders of the periodic Certificates any reports the Trustee prepares and files with or information the Securities and Exchange CommissionAdministrator is required by this Agreement or the Code, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments Treasury Regulations or REMIC Provisions to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the above-referenced website can be obtained by calling the Trustee’s customer service relations desk at (000) 000-0000. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible deliver to the above partiesHolders of Certificates, and the Trustee Securities Administrator shall prepare and provide timely to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Securities Administrator deems necessary or appropriate or is required by the Code, Treasury Regulations, and adequate notification the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Securities Administrator), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all above parties regarding Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Securities Administrator in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC created hereunder, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Securities Administrator periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such changes. As a condition to access fair market values (if subsequent determinations are required pursuant to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerREMIC Provisions) made from time to time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-8 Trust)