Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”): (i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts; (ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified; (iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date; (iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid; (v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances); (vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period; (vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period; (viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date; (ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties; (x) the Delinquency Percentage; (xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero; (xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period; (xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period; (xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses; (xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date; (xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date; (xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date; (xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26; (xix) the Senior Credit Enhancement Percentage for such Distribution Date; (xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date; (xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider; (xxii) whether the Stepdown Date or a Trigger Event is in effect; (xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement); (xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date; (xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and (xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Senior Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxxxx://xxx.xxx.xx.xxx/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)received;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. For all purposes Such obligation of this Agreement, with respect to any Mortgage Loan, delinquencies the Trustee shall be determined deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2006, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2006, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2006, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the OTS methodology statement to Certificateholders 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 related Distribution 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderServicer, the Servicer Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular the Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular the Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Datereserved;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Remittance Period (separately identifying Servicing Fees and expenses of other servicing compensation) and such other customary information as the Trust accrued and paid on such Distribution Date and Trustee reasonably deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Remittance Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Remittance Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each preceding case as of the Close of Business on the last day of the calendar month preceding such Distribution Date Date, and (Db) the related Mortgaged Properties of which are REO Properties;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from Subsequent Recoveries received during the Collection Account for such Distribution related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvixiii) the aggregate Certificate Principal Balance of each Class of Class A CertificatesRegular Certificates after giving effect to the distributions, each class and allocations of Mezzanine Realized Losses, made on such Distribution Date separately identifying any reduction thereof due to allocations of Realized Losses (in the case of the Subordinated Certificates and the Class C Certificates, before and after giving effect );
(xiv) the Certificate Factor for each Class of the Regular Certificates applicable to the distributions made on such Distribution Date;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of for the Class A Certificates, each class of Mezzanine the Subordinated Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Subordinated Certificates for such Distribution Date;
(xvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date;
(xvii) the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls Overcollateralized Amount and the Excess Overcollateralization Amount for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of Mezzanine the Subordinated Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Datepayments from the Excess Reserve Fund Account are made pursuant to Section 4.01(e);
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or has occurred and when a Trigger Event is in effect;
(xxii) the deposits to and withdrawals from the Excess Reserve Fund Account on such Distribution Date;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine the Subordinated Certificates and the Class C Certificates for such Distribution Date and the respective Pass-Through Rate Rates applicable to each Class of the Class A Certificates and each class of Mezzanine the Subordinated Certificates for the immediately succeeding Distribution Date;
(xxv) the amount aggregate Notional Amount of the Class C Certificates, in each case after giving effect the reductions thereof to occur on deposit Net WAC Rate Carryover Reserve Accountsuch Distribution Date; and
(xxvi) the applicable Record Date, Accrual Period amount of the Reimbursement Amount for such Distribution Date and Determination Date for calculating distributions for the amount received by the Certificate Insurer in respect thereof on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerServicer, the Swap Provider Trustee, the Certificate Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”hxxxx://xxx.xxx.xx.xxx/xxxx. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (1-000) -000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as hypothetical Certificate having an initial Certificate Principal Balance or Notional Amount (in the case of the Cut-off Date. In additionClass C Certificates) equal to $1,000.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time. On each Distribution Date, the Trustee shall make available to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall maintain at its Corporate Trust Office and shall make available free of charge during normal business hours for review by any Certificateholder, Certificate Owner or any Person identified to the Trustee as a prospective transferee of a Certificate, originals or copies of the following items: (i) the private placement memorandum or other disclosure document relating to such Certificates, if any, in the form most recently provided to the Trustee; and if applicable(ii) in all cases, material modifications(A) this Agreement and any amendments hereof entered into pursuant to Section 11.01, extensions or waivers (B) all monthly statements required to Mortgage Loan termsbe delivered to Certificateholders of the relevant Class pursuant to this Section 4.02 since the Closing Date, feesand all other notices, penalties or payments during reports, statements and written communications delivered to the preceding calendar month or that have become material over time. For Certificateholders of the relevant Class pursuant to this Agreement since the Closing Date, (C) all purposes certifications delivered by a Responsible Officer of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided since the Closing Date pursuant to Section 9.01(h) and (D) any and all Officers’ Certificates delivered to the Trustee by the Servicer since the Closing Date to evidence the Servicer’s determination that any Advance or Servicing Advance was, or if made, would be a Nonrecoverable Advance or Nonrecoverable Servicing Advance, respectively. Copies and reported by mailing of any and all of the foregoing items will be available from the Trustee based on upon request at the OTS methodology for determining delinquencies on mortgage loans similar to expense of 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 person requesting 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorssame.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount Amount, the Class M-1 Credit Enhancement Percentage and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close aggregate Principal Balance of Business at the end of the related Due Periodany 2nd lien Mortgage Loans;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ix) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the Delinquency Percentage;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixix) whether the Stepdown Date or a Trigger Event is in effecthas occurred and the Realized Loss Percentage for such Distribution Date;
(xxiiixx) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxxi) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxii) payments, if any, made under the Interest Rate Cap Contract and the amount distributed to each Class of Certificates from payments made under the Interest Rate Cap Contract;
(xxiii) the amount of any Net Swap Payments or Swap Termination Payments;
(xxiv) the applicable Record Dates, Accrual Periods and Determination Dates for calculating distributions for such Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent delinquent with respect to a Monthly Scheduled Payment due on a Due Date if such Monthly Scheduled Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Scheduled Payment if such Monthly Scheduled Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators. In the case of information furnished pursuant to subclauses (i) and (ii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of and Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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 DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-4), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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) 0001-0000866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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 ’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 DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt3)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall (i) prepare and make available forward by mail to each Holder of the Regular Certificates and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Prepayment Charges collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Offered Certificates, each class of Mezzanine the Class B-3 Certificates and the Class C B-4 Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Dateamount of any LIBOR Carryover Amounts;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Liquidation Report for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Mortgage Loan; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (xxvior an affiliate) during the applicable Record Date, Accrual related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. 95 The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xviii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4), Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the ServicerMaster Servicer (which in turn shall be based, as applicable, on information provided to the Trustee Master Servicer by the Servicers) the Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Providereach Servicer, the Servicer Credit Risk Manager and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the related Servicer pursuant to Section 3.263.24 or pursuant to the related Servicing Agreement;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicers, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee Trust Administrator from information provided by the Servicer and reported by the Trustee Trust Administrator based on the OTS “OTS” 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 ’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. The Servicer Ocwen hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of Ocwen.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) in the applicable Record Dividend Account immediately prior to the related Master Servicer Remittance Date, Accrual Period the amount deposited into the Dividend Account on the related Master Servicer Remittance Date (separately identifying the amount received from Mortgagors and Determination the amount advanced) and the amount withdrawn from the Dividend Account on the related Master Servicer Remittance Date for calculating distributions for (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but and shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party theretohereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Ff2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C CertificatesInterest, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates Interest for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) in the applicable Record Dividend Account immediately prior to the related Master Servicer Remittance Date, Accrual Period the amount deposited into the Dividend Account on the related Master Servicer Remittance Date (separately identifying the amount received from Mortgagors and Determination the amount advanced) and the amount withdrawn from the Dividend Account on the related Master Servicer Remittance Date for calculating distributions for (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable 100 information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Assets Sec Corp First Frank Mort Ln Tr 2002-Ff1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate 115 amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract; and
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be 117 deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to from Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount Pass-Through Rate for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Depositor during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Penalty that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Penalty listed on each related Mortgage Note and Determination Date for calculating distributions the Prepayment Penalty collected, and the Servicer Prepayment Penalty Payment Amount and the Originator Prepayment Penalty Payment Amount paid with respect to each such Mortgage Loan;
(xxvii) the amount of any Yield Maintenance Agreement Payments for such Distribution Date. The Trustee will make such statement ; and
(and, at its option, any additional files containing xxviii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”related Prepayment Period. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (000301) 000815-00006600. Parties The Securities Administrator shall provide such informaxxxx xx xxxxxxs that are unable to use the above distribution option are entitled to have a paper copy mailed by mailing to them via first class mail a paper copy of the Distribution Date Statement, upon request of any such party made by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Residual Certificateholders a copy of the reports forwarded to the holder of any Regular Certificate in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Residual Certificateholders by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-2 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular CertificatesCertificateholder, the Swap ProviderSeller, the Servicer Master Servicer, the Trustee, the Yield Maintenance Provider and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer and the Servicers, (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. Information in the Distribution Date (Statement relating to or based on amounts available in the “Monthly Statement”):Yield Maintenance Account shall be based on information provided by the Yield Maintenance Provider regarding any Yield Maintenance Amounts required to be paid by the Yield Maintenance Provider for the related Distribution Date pursuant to the Yield Maintenance Agreements. The Distribution Date Statement shall include the following:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of Servicing Fees and expenses of Master Servicing Fees for the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidrelated Due Period;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period[reserved];
(vii) with respect to the Loan Group Balance and related Net WAC and applicable Net WAC Cap for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate Balance of the Six-Month LIBOR Indexed, One-Year LIBOR Indexed and One-Year CMT Indexed Mortgage Loans as at the Close of Business at the end of the related Determination DateDue Period;
(ix) [reserved];
(x) [reserved];
(xi) the number and aggregate unpaid principal balance of Mortgage Loans for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month, in each case, using the MBA method;
(xii) the book value (if available) of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds with respect to each Loan Group made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period for each Loan Group and the cumulative amount of Realized Losses and the amount of Realized Losses, if any, allocated to each Class of Certificates;
(xv) the aggregate amount Class Principal Balance or Class Notional Balance, as applicable, of extraordinary Trust Fund expenses withdrawn from each Class of Certificates and the Collection Account for Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, on such Distribution Date;
(xvi) the Certificate Principal Balance Monthly Interest Distributable Amount and the Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates for such Distribution Date and the Class C Certificatesrespective portions thereof, before and after giving effect to if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly aggregate amount of any Net Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date Shortfalls and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates Amount for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, Available Funds with respect to the extent not covered by payments by the Servicer pursuant to Section 3.26each Loan Group;
(xix) the Senior Credit Enhancement Percentage Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for aggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the Servicing Agreement, or the Section of this Agreement, as applicable, requiring or allowing the purchase of each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution DateMortgage Loan;
(xxi) the amount of any Net Swap Payments Principal Deficiency Amounts or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxii) whether the Stepdown Date or a Trigger Event is in effectamount of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)[reserved];
(xxiv) payments made under the respective Pass-Through Rates applicable to each Class of Class A CertificatesYield Maintenance Agreements, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;if any; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Dateof any Class P Distributable Amount. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans addition to the extent known to information listed above, such Distribution Date Statement shall also include the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes information required by Item 1121 (§ 229.1121) of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsRegulation AB.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Harborview 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the each Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances and/or Monthly Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(viivi) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer GMACM pursuant to Section 3.263.24 or by Countrywide Servicing pursuant to Section 2.04 of Exhibit B;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract and the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) distributed to each Class of Certificates from payments made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"hxxxx://xxx.xxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-A)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.jpmorgan.com/sfr, a statement as to (the distributions "Distribution Date Statement") xx xx xxx xxxxxxxxxxons made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Class A Reserve Account, the Class M-1, Class M-2 and Class M-3 Reserve Account and the Class M-4, Class M-5, Class M-6 and Class M-7A Reserve Account on such Distribution Date;
(xvii) any Overcollateralization Deficiency after giving effect to the distribution of principal 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 Balance;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateAvailable Funds;
(xx) the Net WAC Rate Carryover Amount rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from information contained in the Trust and (b) due from the Swap ProviderLiquidation Report for such Distribution Date;
(xxii) whether the Stepdown Date aggregate Principal Balance of Mortgage Loans purchased by the Servicer, the Originator or a Trigger Event is in effectthe Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of the Supplemental Interest Trust Trustee under Mortgage Loans repurchased by the Interest Rate Swap Agreement)Servicer during the related Prepayment Period in connection with Section 3.16;
(xxiv) the respective Pass-Through Rates applicable to each Class amount of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DatePMI Insurer Fee paid;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the aggregate amount of DA Dividends attributable DAD Mortgage Loans deposited into the DA Reserve Account for the related Collection Period, and the amount of DA Dividends remitted to the Trustee for deposit in the Distribution Account as a result of or relating to a DA Forfeiture Event by the related Mortgagor;
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and Determination the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date for calculating distributions for (and the number of Mortgage Loans to which such Distribution Datepayments related); and
(A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholder a copy of the reports made available to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the Master Servicer's Certificate, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement as to (the distributions "Distribution Date Statement") ax xx xxx xxxxxxbutions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the prior calendar month and expenses the amount of the Trust accrued and Compensating Interest paid on such Distribution Date and to whom such fees and expenses were paidby each Servicer;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date and the number and aggregate Principal Balance of all Additional Mortgage Loans added since the Closing Date or preceding Distribution Date, as applicable;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment PeriodCollection Period or, in the case of JPM Chase Bank, as of the close of business on the last Business Day of the calendar month preceding the Distribution Date;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period or, in the case of JPM Chase Bank, as of the close of business on the last Business Day of the calendar month preceding the Distribution Date, and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Applied Realized Loss Amounts, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the a Servicer pursuant to Section 3.263.25;
(xixxvi) the Senior Credit Enhancement Percentage Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Swap Account or the Cap Carryover Reserve Account on such Distribution Date;
(xvii) the Pre-Funding Release for each Loan Group for such Distribution Date;
(xxxviii) any Overcollateralization Deficiency after giving effect to the Net WAC Rate Carryover Amount for each class distribution of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount rate at which interest accrues for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased or substituted by a Servicer, an Originator, the Supplemental Interest Trust Trustee under Seller or a Purchasing Party during the Interest Rate Swap Agreement)related Prepayment Period;
(xxiv) the respective Pass-Through Rates applicable to each Class amount of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateCredit Risk Manager Fee paid;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Prepayment Period, the Prepayment Charge listed on deposit Net WAC Rate Carryover Reserve Account; andeach related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the related Servicer or the Originator Prepayment Charge Payment Amount paid by the related Originator with respect to each such Mortgage Loan;
(xxvi) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxvii) the amount and recipient of any Net Swap Payments and Swap Termination Payments;
(xxviii) the date of such Distribution Date and the Determination Date for such Distribution Date; 155
(xxix) any expenses or indemnification amounts paid by the Trust Fund, the specific purpose of each payment and the parties to whom these payments are made;
(xxx) for each Class, the applicable Record Date, Accrual Period and LIBOR Determination Date for calculating distributions for and Interest Accrual Period;
(xxxi) unless such information is otherwise set forth in Form 10-D relating to such Distribution Date, any material breaches of representations and warranties relating to the Mortgage Loans or material breaches of transaction covenants or representations and warranties; and
(xxxii) for each Class, the applicable Certificate Interest Rate, if applicable, and the applicable Pass-Through Rate, if different. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Securities Administrator may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and Mortgage Loans provided by the Trustee shall provide timely and adequate notification to all above parties regarding any such changesMaster Servicer. As In determining whether a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance breach of a disclaimer. The Trustee will not be liable for representation or warranty relating to the dissemination Mortgage Loans is material or whether a breach of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content a transaction covenant or accuracy of any information provided by third parties representation or warranty is material for purposes of preparing subclause (xxxi) above, the distribution date statement Securities Administrator may consult with the Depositor and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability rely on the part Depositor's determination of any other party thereto)materiality. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In additionThe Securities Administrator will also make available copies of the periodic reports the Securities Administrator prepares and files with the Commission, the Trustee will report including distribution reports on Form 10-D D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through www.ctslink.com promptly (but no later than one Business Day) after xxx Xxxxxxxxxx Administrator has filed such reports with the Commission.
(b) Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to each Residual Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the 156 extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during each Residual Certificateholder by the preceding calendar month or that have become material over time. Securities Administrator pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this AgreementAgreement including, but not limited to, providing the information set forth in clause (viii) of Section 4.06(a), with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS so-called "OTS" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent one payment 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 two payments delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s 's second succeeding Due Date. The Each Servicer hereby represents and warrants to the Depositor and the Master Servicer that it this delinquency recognition policy is its current policy and is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of such Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2006-He1 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class 103 of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s 's internet website shall initially to be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall 104 be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Frank Mort Loan Tr 2004-Ffh1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage and the Class A-6 Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Cap Contract;
(xxiv) [Reserved];
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and[Reserved];
(xxvi) (A) the applicable Record Dateamount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvii) (A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxviii) the aggregate amount of Custodian Fee received by the Custodian, Accrual Period the aggregate PMI Premium and Determination Date for calculating distributions for such Distribution Datethe aggregate Credit Risk Manager Fee with respect to the related Due Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxxxx://xxx.xxx.xx.xxx/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date;
(xxvi) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxviii) the aggregate amount of Custodian Fee received by the Custodian, the aggregate PMI Premium and the aggregate Credit Risk Manager Fee with respect to the related Due Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"hxxxx://xxx.xxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of Servicing Fees and expenses of Master Servicing Fees received by the Servicer and the Master Servicer with respect to the related Due Period and such other customary information as the Trust accrued and paid on such Distribution Date and Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;[reserved]
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.27 or the Master Servicer pursuant to Section 4.19;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred and when the Servicer Termination Test or the Fitch Servicer Termination Test has been failed;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds for such Distribution Date;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s Trust Administrator's internet website. The Trustee’s Trust Administrator's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s Trust Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s Trust Administrator's internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. 105 The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Trust Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Trustee and if applicableResidual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, material modifications, extensions or waivers the Trust Administrator shall deliver to Mortgage Loan terms, fees, penalties or payments each Person who at any time during the preceding calendar month year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that have become material over time. For all purposes of this Agreement, with respect substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to on its website at xxx.xxxxxxxx.xxx/xxx for access by each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Prepayment Charges collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C B Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Dateamount of any Net WAC Rate Carryover Amounts;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the Net WAC Rate Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Liquidation Report for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Mortgage Loan; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (xxvior an affiliate) during the applicable Record Date, Accrual related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period and Determination Date for calculating distributions for such Distribution Datethe amount of any claims previously paid that are reimbursed to the Insurer (net of the aggregate amount of Premium paid to the Insurer hereunder) pursuant to Section 3.01; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, and forward by mail to the Certificate Insurer, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Class A Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsPremiums;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Class A Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date for each Class of Class A Certificates and the Excess Overcollateralized Amount Spread for the Mortgage Pool each related Loan Group for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest Pool Principal Balance and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to Loan Group Balance for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) separately stated for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding Prepayment Period, the loan number of such Mortgage Loan, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close of Business on the last Business Day of the last day of Prepayment Period preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Dateaggregate Premium Amount to be paid to the Certificate Insurer;
(xxxviii) the Group III Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmount, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether the Step Up Cumulative Loss Test and/or Step Up Spread Squeeze Test have been met and the cumulative realized losses with respect to each Loan Group, as a percentage of the original Loan Group Balance;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderAvailable Funds with respect to each Loan Group;
(xxii) whether the Stepdown Date or a Trigger Event is in effectPass-Through Rate for the Class A-8 Certificates for such Distribution Date;
(xxiii) the total cashflows received Liquidation Report (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)see Exhibit M) for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Master Servicer or Seller during the related Prepayment Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateMortgage Loan;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andnumber of delinquent Mortgage Loans sold during the preceding Prepayment Period, the aggregate outstanding principal balance of such Mortgage Loans and the aggregate sale price;
(xxvi) the applicable Record Dateamount on deposit in the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvii) for the distribution occurring on the Distribution Date immediately following the end of the related Funding Period, Accrual Period the balance on deposit in the related Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the related Classes of Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will shall make available such report concurrently with each distribution to the Certificateholders and the Rating Agencies, and forward it to the Certificate Insurer on the related Distribution Date. The Trustee may also make such statement (and, at its option, any additional files containing the same information in an alternative format) reports available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies each party referred to in this paragraph via the Trustee’s internet 's website, electronic bulletin board and its fax-on- demand service. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the 's website can be obtained accessed at "http://www.ctslink.com". The Trustee'x xxxxxxxxxx xxxxxxxx board may be accessed by calling the Trustee’s customer service desk at (000301) 000815-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail 6620, and its fax-on-demanx xxxxxxx xxx be accessed by calling the customer service desk and indicating such(301) 815-6610. The Trustee may fullx xxxx xxxx xxd shall have the right no liability with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Opt One Mort Accept Corp Loan Tr Asset Bk Cert Ser 1999-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderProvider and the NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effect;
(xxiiixxii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxiii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiv) [reserved];
(xxv) [reserved];
(xxvi) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date[reserved]. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer), the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A the Fixed Rate Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Fixed Rate Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A the Fixed Rate Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, on each Distribution Date, based, as applicable, on information provided to the Trustee will report Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on Form 10-D any material breaches of representations information provided to the Master Servicer by the Servicer), the Trust Administrator shall prepare and warranties make available information, separated for each Originator, regarding the performance of the Mortgage Loans Loans, including, but not limited to, information regarding delinquency, loss and prepayment experience of the Mortgage Loans.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Trustee and if applicableResidual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, material modifications, extensions or waivers the Trust Administrator shall deliver to Mortgage Loan terms, fees, penalties or payments each Person who at any time during the preceding calendar month year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that have become material over time. For all purposes of this Agreement, with respect substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) in the applicable Record Dividend Account immediately prior to the related Master Servicer Remittance Date, Accrual Period the amount deposited into the Dividend Account on the related Master Servicer Remittance Date (separately identifying the amount received from Mortgagors and Determination the amount advanced) and the amount withdrawn from the Dividend Account on the related Master Servicer Remittance Date for calculating distributions for (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"www.ctslink.com". Assistance in using the website can usinx xxx xxxxxxx xan be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option unaxxx xx xxx xxxsite are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 2000 Ff1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) payments, if any, made under the Delinquency PercentageCap Contract;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class P Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, any Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Ast Back Certs Ser 2003-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the each Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount 104 as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) payments, if any, made under the Delinquency PercentageCap Contract;
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Regular Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Regular Certificates and (other than the Class C Certificates P Certificates) for such Distribution Date and the Unpaid 105 Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C B Certificates for such Distribution Date;
(xvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date;
(xvii) the Credit Enhancement Percentage for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, any Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition106
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at wxx.xxxxxxx.xxx, a statement (the “Distribution Date Statement”) as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses the amount of Compensating Interest paid by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Applied Realized Loss Amounts, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Swap Account or the Cap Carryover Reserve Account on such Distribution Date;
(xvii) any Overcollateralization Deficiency after giving effect to the distribution of principal 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 Balance;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateAvailable Funds;
(xx) the Net WAC Rate Carryover Amount rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from information contained in the Trust and (b) due from the Swap ProviderLiquidation Report for such Distribution Date;
(xxii) whether the Stepdown Date aggregate Principal Balance of Mortgage Loans purchased by the Servicer, the Originator, the Seller or a Trigger Event is in effectPurchasing Party during the related Prepayment Period and indicating the section of this Agreement, the Mortgage Loan Purchase Agreement or the Mortgage Loan Sale Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxiii) the total cashflows received (including amounts received from amount of the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Credit Risk Manager Fee paid;
(xxiv) the respective Pass-Through Rates applicable Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Prepayment Period, the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateMortgage Loan;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof Subsequent Recoveries received during the related Prepayment Period;
(xxvi) only for so long as the Trust is subject to the Exchange Act reporting requirements, the Interest Rate Swap Agreement’s “significance percentage” of the Pool Balance;
(xxvii) the amount and recipient of any Net Swap Payments and Swap Termination Payments;
(xxviii) the date of such Distribution Date and the Determination Date for such Distribution Date;
(xxix) any expenses or indemnification amounts paid by the Trust Fund, the specific purpose of each payment and the parties to whom these payments are made;
(xxx) for each Class, the applicable Record Date, Accrual Period and LIBOR Determination Date for calculating distributions for and Interest Accrual Period;
(xxxi) unless such information is otherwise set forth in Form 10-D relating to such Distribution Date, any material breaches of representations and warranties relating to the Mortgage Loans or material breaches of transaction covenants or representations and warranties; and
(xxxii) for each Class, the applicable Certificate Interest Rate, if applicable, and the applicable Pass-Through Rate, if different. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and Mortgage Loans provided by the Trustee shall provide timely and adequate notification Servicer. In determining whether a breach of a representation or warranty relating to all above parties regarding any such changes. As the Mortgage Loans is material or whether a condition to access the Trustee’s internet websitebreach of a transaction covenant or representation or warranty is material for purposes of subclause (xxxi) above, the Trustee may require registration consult with the Depositor and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy Depositor’s determination of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)materiality. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, The Trustee will also make available copies of the periodic reports the Trustee will report prepares and files with the Commission, including distribution reports on Form 10-D D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through wxx.xxxxxxx.xxx promptly (but no later than one Business Day) after the Trustee has filed such reports with the Commission.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to each Residual Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during each Residual Certificateholder by the preceding calendar month or that have become material over time. Trustee pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this AgreementAgreement including, but not limited to, providing the information set forth in clause (viii) of Section 4.06(a), with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS so-called “OTS” methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent one payment 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 ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent two payments 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. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is its current policy and is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2006-Opt2 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.chase.com/sfa, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Xxxxxxxxxxxx Xxxe:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders or reduction of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsN Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and the Loan Group Balance for each Loan Group at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to separately stated for each Loan GroupGroup and each Sub-group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) separately stated for each Loan Group and each Sub-group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) separately stated for each Loan Group and (D) each Sub-group, with respect to any Mortgage Loan that became an REO PropertiesProperty during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) separately stated for each Loan Group and each Sub-group, the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group and each Sub-group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected or deposits by the Seller in lieu thereof pursuant to Section 3.01 during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) separately stated for each Loan Group and each Sub-group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount beginning balance of extraordinary Trust amounts on deposit in the Excess Reserve Fund expenses withdrawn as of the preceding Distribution Date, any withdrawals from and deposits into the Collection Account for Excess Reserve Fund as of the Distribution Date, and the ending balance of amounts on deposit in the Excess Reserve Fund on such Distribution Date;
(xvi) the Certificate Principal Balance beginning balance of each amounts on deposit in the Class N Reserve Fund as of the preceding Distribution Date, any withdrawals from and deposits into the Class A CertificatesN Reserve Fund as of the Distribution Date, each class of Mezzanine Certificates and the ending balance of amounts on deposit in the Class C Certificates, before and after giving effect to the distributions made N Reserve Fund on such Distribution Date;
(xvii) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Offered Certificates for such Distribution Date Date, separately identifying the portions thereof attributable to Rate Payments, and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date[Reserved];
(xx) the Net WAC Rate Carryover Amount for each class Principal Balance of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution DateRe-performing 60+ Day Delinquent Loans;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee paid;
(xxii) whether Class A-1A LIBOR Carryover Amounts for the Stepdown Class A-1A Certificates distributed on such Distribution Date or a Trigger Event is in effectand the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xxiii) any Overcollateralization Deficiency after giving effect to the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)distribution of principal on such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificateswhether a Trigger Event has occurred and is continuing, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and cumulative Realized Losses, as a percentage of the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Dateoriginal Pool Balance;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andAvailable Funds;
(xxvi) the applicable Record Date, Accrual Period and Determination Date rate at which interest accrues for calculating distributions each Class of Certificates for such Distribution Date;
(xxvii) the Liquidation Report for such Distribution Date;
(xxviii) [Reserved]
(xxix) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxx) the aggregate Principal Balance of the Mortgage Loans repurchased by the Seller during the related Collection Period in connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section Section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall provide to the Class R Certificateholders a copy of the reports provided to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to from Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the applicable Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount Pass-Through Rate for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Depositor during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Penalty that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Penalty listed on each related Mortgage Note and Determination Date for calculating distributions the Prepayment Penalty collected, and the Servicer Prepayment Penalty Payment Amount and the Originator Prepayment Penalty Payment Amount paid with respect to each such Mortgage Loan;
(xxvii) the amount of any Yield Maintenance Agreement Payments for such Distribution Date. The Trustee will make such statement ; and
(and, at its option, any additional files containing xxviii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”related Prepayment Period. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (000301) 000815-00006600. Parties The Securities Administrator shall provide such informaxxxx xx xxxxxxs that are unable to use the above distribution option are entitled to have a paper copy mailed by mailing to them via first class mail a paper copy of the Distribution Date Statement, upon request of any such party made by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Class R Certificateholder a copy of the reports forwarded to the holder of any Regular Certificate in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Class R Certificateholder by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-1 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder Holders of the Regular Certificates, the Swap Provider, the Servicer Certificates and the Rating AgenciesNIMS Insurer on its internet website, initially located at "xxx.xxxxxxx.xxx," a statement (a "Distribution Date Statement") as to the distributions to be made on such Distribution Date (the “Monthly Statement”):Date:
(i) the Principal Distribution Amount and the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the Interest Remittance Amount and the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close close of Business business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Periodcumulatively, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period Collection Period, and the cumulative amount of Realized LossesLosses and the Cumulative Realized Loss Percentage;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) 3.23, and the Senior Credit Enhancement Percentage amount of Relief Act Shortfalls applied to reduce the Interest Remittance Amount for each Class for such Distribution Date;
(xxxvi) the Net WAC Rate Carryover amount of the Securities Administration Fee paid;
(xvii) the aggregate amount of the Credit Risk Manager Fee paid;
(xviii) any Overcollateralization Deficiency Amount for each class after giving effect to the distributions of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing;
(xx) the Available Funds;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to Rate at which interest accrues for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Formula Rate at which interest will accrue for such Class (other than the Class A-1 and, for the first 24 Distribution Dates, the Class A-2 Certificates) for the next Distribution Date, and the Pass-Through Rate applicable to each for the Class of A-1 and Class A Certificates and each class of Mezzanine A-2 Certificates for the immediately succeeding next Distribution Date;
(xxii) the Liquidation Report for such Distribution Date;
(xxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Depositor during the related Collection Period in connection with Section 3.16;
(xxv) the amount on deposit of Unpaid Interest Shortfall Amount and Net WAC Rate Carryover Reserve AccountAmount payable on each Class for such Distribution Date, separately identifying the portion of each that consists of interest accrued on previous such amounts, the amounts paid on each Class on such Distribution Date in respect of such items, and the amount of Unpaid Interest Shortfall Amount and Net WAC Rate Carryover Amount that will be payable on each Class on the next Distribution Date; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for amount of all reimbursements of Realized Losses previously allocated to reduce the Certificate Principal Balance of any Class of Certificates that were reimbursed on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”remaining amount of any Realized Losses that have been so allocated and not yet reimbursed, for each Class. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator's obligations pursuant to this Section 4.06 are limited to the dissemination extent of its receipt of all necessary information in accordance with this Agreementfrom the Servicer. The Trustee Securities Administrator may fully rely upon and shall also be entitled have no liability with respect to rely on but shall not be responsible for information with respect to the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section Section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, and warranties regarding to the Mortgage Loans NIMS Insurer, a statement containing the information set forth in subclauses (i), (ii), (xi), (xii), (xxiii) and (xxiv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder, plus other information as the Securities Administrator may determine and advise the Trustee to be necessary and/or to be required by the Internal Revenue Service or by federal or state laws, rules or regulations to enable such Certificateholders to prepare their tax returns for such calendar year. Such obligations of the Trustee and the Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee or the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall make available on its website the same information to the Class R Certificateholders and the NIMS Insurer as that provided to the Regular Certificateholders in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Class R Certificateholders by the Securities Administrator pursuant to any requirements of the Code as from time to time in force. Within a reasonable period of time after the end of each calendar year, the Trustee and if applicable, material modifications, extensions or waivers shall furnish to Mortgage Loan terms, fees, penalties or payments each Person who at any time during the preceding calendar month year was a Holder of a Residual Certificate and the NIMS Insurer a statement setting forth the amount, if any, actually distributed with respect to the Residual Certificates, as appropriate, aggregated for such calendar year or that have become material over time. For all applicable portion thereof during which such Person was a Certificateholder.
(d) The Securities Administrator shall, upon request, furnish to each Certificateholder and the NIMS Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be reasonable with respect to the Certificateholder or the NIMS Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided at the expense of the Certificateholder or the NIMS Insurer, as the case may be, in accordance with respect to any Mortgage Loansuch reasonable and explicit instructions and directions as the Certificateholder or the NIMS Insurer, delinquencies shall be determined by as the Trustee from information provided by case may be, may provide. For purposes of this Section 4.06, the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar Securities Administrator's duties are effective only 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 extent that the close of business on Securities Administrator receives timely reports as required from 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsServicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderServicer, the Servicer Trustee, the NIMS Insurer, if any, the indenture trustee under the Indenture, the Swap Counterparty and the Rating Agencies, Agencies a statement by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a))(the “Monthly Statement”), based on information provided to the Securities Administrator by the Servicer or the Swap Counterparty, as to the distributions made on such Distribution Date (the “Monthly Statement”):or Swap Payment Date, as applicable:
(i) the Record Dates, the Accrual Period, the Determination Date and the Distribution Date;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(iiiii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interestinterest and the Pass-Through Rates, separately identified;
(iiiiv) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(ivv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidreserved;
(vvi) the Interest Remittance Amount and the Principal Remittance Amount for such Distribution Date;
(vii) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of Nonrecoverable Advances for such Advances)Distribution Date;
(viviii) the number and aggregate amount Stated Principal Balance of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Mortgage Loans at the Close of Business at the end of the related Due Period and at the beginning of the related Due Period;
(viiiix) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixx) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and (3) 90 or more days, (Bc) delinquent 90-119 days, (d) 120 or more days in each case, as of the last day of the preceding calendar month; provided, however, that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (e) as to which foreclosure proceedings have been commenced and Delinquent (1f) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentageforce;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Junior Subordinate Certificates for such Distribution Date;
(xviii) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer or Master Servicer pursuant to Section 3.26the Servicing Agreement, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the related Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Junior Subordinate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from Master Servicer Fee, the Trust Servicer Fee and (b) due from the Swap ProviderProgram Administrator Fee on such Distribution Date;
(xxii) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Junior Subordinate Certificates for the immediately succeeding Distribution Date;
(xxv) Reserved;
(xxvi) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvii) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(xxviii) Reserved;
(xxix) Reserved;
(xxx) the amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate; and
(xxvixxxi) the applicable Record Swap Payment, the Counterparty Payment, the Net Swap Payment and the Net Counterparty Payment for the related Swap Payment Date; the Swap Termination Payment and the Swap Termination Payment remaining unpaid from prior Swap Payment Dates, and in each case whether payable by the Trust Fund or by the Swap Counterparty; and any Counterparty Payments unpaid from prior Swap Payment Dates. For purposes of preparing the Monthly Statement, delinquencies shall be determined and reported by the Securities Administrator based on the so-called “OTS” 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 or Swap Termination Payment due on a Due Date if such payment is not made by the close of business on the Mortgage Loan’s next succeeding Due Date, Accrual Period and Determination Date for calculating distributions for a Mortgage Loan would be more than 30-days delinquent with respect to such Distribution Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Trustee will Securities Administrator shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Trustee, the Servicer, the NIMS Insurer, if any, the Swap Provider Counterparty and the Rating Agencies via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (000) -000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements state ments are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;[reserved]
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. [reserved] The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2003-3 Asset Backed Certs)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems 105 necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) payments, if any, made under the Delinquency PercentageCap Contract;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class P Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;3.24; 106
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, any Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"hxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 107 Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Finance Amer Mo Ln Tr 2003-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)amount of Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, received under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chec Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment PeriodPeriod and the number;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 95 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction loan number of each such Mortgage Loan, the unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class C Certificates and the Class C S Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account and the Reserve AccountFund; and
(xxvixxiv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the related Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet websitewebsite and its fax-on-demand service. The Trustee’s 's fax-on- demand service may be accessed by calling (000) 000-0000. The Trustee's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2000-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderProvider and the NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and principal, the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment AmountsAmounts and the Certificate Principal Balances of the Regular Certificates before and after any distributions of principal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as in respect of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) which (1) 30 to 59 daysone Monthly Payment is Delinquent, (2) 60 to 89 days and two Monthly Payments are Delinquent, (3) 90 or more days, three Monthly Payments are Delinquent and (B4) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesbegun;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixxi) whether if the Stepdown Date or a Trigger Event is in effecteffect (and if not, the months remaining until the Stepdown Date);
(a) the Delinquency Percentage, the numerator and the denominator used to calculate the Delinquency Percentage and whether the Delinquency Percentage exceeds the level set forth in clause (a) of the definition of Trigger Event, (b) the Cumulative Realized Loss Percentage, the numerator and the denominator used to calculate the Cumulative Realized Loss Percentage and whether the Cumultaive Realized Loss Percentage exceeds the level set forth in clause (b) of the definition of Trigger Event;
(xxiii) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date (and whether such Pass-Through Rate was limited by the Net WAC Rate) and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvi) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xxvii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date;
(xxviii) the fees and expenses accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(xxix) material breaches of representations and warranties regarding the Mortgage Loans. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"www.ctslink.com". Assistance in using the website can be obtained by calling the Trustee’s xxxxxxx xxx Xxxstee's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each [$1,000 ________________] original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Senior Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS “OTS” 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 ’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. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMs Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) 91
(1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account, the Interest Coverage Account and the Reserve AccountFund; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider NIMs Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"www.ctslink.com". Assistance in using the website usixx xxx xxxxxxx can be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMs Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMs Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMs Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mort Ln Trust Asset Back Certs Ser 2001-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which 107 foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003-4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date related Due Period and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment related Due Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A the Senior Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Senior Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Senior Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A the Senior Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Senior Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Senior Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Asset Back Cert Ser 2003-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B-1 Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset-Backed Certs Series 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderServicer, the Servicer Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class Class of Mezzanine Certificates Certificates, and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider[reserved];
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)received;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) [reserved];
(xxvi) [reserved];
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxix) the amount of any payments/draws under the Policy; and
(xxx) the amount of any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Certificate Insurer, the Swap Provider NIMS Insurer and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loansmethodology. 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 Close of business 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 Close of business Business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the Certificate Insurer, the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Certificate Insurer, the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the Certificate Insurer, the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) [Reserved].
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Credit Risk Manager, the Servicer, the Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the Pool Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the Pool Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) (A) the dollar amount of claims made under the Pool Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the Pool Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxix) the amount of any payments/draws under the Policy; and
(xxx) the amount of any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Certificate Insurer, the NIMS Insurer, the Swap Provider Provider, the Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loansmethodology. 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 Close of business 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 Close of business Business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount of any Net Swap Payments or Swap Termination Payments;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhtxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000800) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date; and
(xxiii) payments, if any, made under the Cap Contract;
(xxvxxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s 's internet website shall initially to be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium 110 to each Holder of the Regular Certificates, the Swap ProviderMaster Servicer, the Servicer Guarantor, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the Deficiency Amount, the Guarantor Payments and the Guarantor Reimbursement Amount for such Distribution Date;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class S Certificates and the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Class S Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of the Class A A-1V Certificates, Class A-2 Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider[reserved];
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each the Class of S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;; and
(xxiv) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date.
(xxv) such other information as the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) Guarantor may reasonably request in such format as reasonably requested by the applicable Record Date, Accrual Period Guarantor and Determination Date for calculating distributions for such Distribution Dateany other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Guarantor, the NIMS Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"http:\\xxx-xxxx.xxx.xxxxxxxx-xxxx.xxx/xxxx. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (0-000) -000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section Section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Back Cert Ser 2001-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Dividend Account immediately prior to the related Servicer Remittance Date, the amount deposited into the Dividend Account on the related Servicer Remittance Date (separately identifying the amount received from Mortgagors and the amount advanced) and the amount withdrawn from the Dividend Account on the related Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date);
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date; and
(xxviii) payments, if any, made under the Cap Contracts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Secs Corp First Franklin Mort Ln Tr 2002-Ff4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicers, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount Stated Principal Balance of interest and scheduled principal received or advanced by the Servicer with respect to Mortgage Loans at the close of business at the end of the last Business Day of the calendar month preceding the related Due PeriodDistribution Date;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer Servicers pursuant to Section 3.263.23, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixviii) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxx) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Servicers and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"http:\\www-apps.gis.deutsche- bxxx.xxx/xxxx. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 0001-0000800- 735-7777. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Finan as Sec Cp SDVW Hm Eq Ln Tr 2001-2 as Bk Cer Ser 2001-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account, the Interest Coverage Account and the Reserve AccountFund; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"www.ctslink.com". Assistance in using the website can usinx xxx xxxxxxx xan be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable to use the unaxxx xx xxx xxx above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp Ass Back Cert Ser 2000 4)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountof the Credit Risk Manager Fee paid; and
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Charge listed on each related Mortgage Note and Determination Date for calculating distributions for the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Distribution DateMortgage Loan. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Class A-2 Reserve Account and Class M Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period and Determination Date for calculating distributions for such Distribution Datethe amount of any claims previously paid that are reimbursed to the Insurer (net of the aggregate amount of Premium paid to the Insurer hereunder) pursuant to Section 3.01; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;; 121
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 123 The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulators.requirements of the Code as from time to time in force. 124
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-4)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available post on its website at xxx.xxxxxx.xxx/xxx and forward by mail to each Holder of the Regular Certificates, the Swap Provider, the Servicer Certificates and the Rating AgenciesGuarantor, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified, including the amount of any distribution from the LIBOR Carryover Reserve Account or the Class AF-1 Interest Rate Cap Account, as applicable;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns by the Servicer during the related Collection Period and accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and the Collection Account Class B-3 Certificates for such Distribution Date, separately identifying the portions thereof attributable to LIBOR Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of Extra Principal Distribution Amount on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds for such Distribution Date;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each class such Mortgage Loan;
(xxv) the aggregate Principal Balance of Mezzanine Certificatesthe Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16;
(xxvi) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date;
(xxvii) the Maximum Cap Rate for such Distribution Date;
(xxviii) the LIBOR Carryover Amount, if any, for the Class AV-1 Certificates for such Distribution Date Date, and the amount of such Interest Carryover Amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxiA) the amount of any Net Swap Payments or Swap Termination Payments payments received relating to claims under the PMI Policy during the related Prepayment Period (aand the number of Mortgage Loans to which such payments related) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiiiB) the total cashflows cumulative amount of payments received (including amounts received from the Supplemental Interest Trust Trustee relating to claims under the Interest Rate Swap AgreementPMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxivA) the respective Pass-Through Rates applicable to each Class dollar amount of Class A Certificates, each Class of Mezzanine Certificates claims made under the PMI Policy that were denied during the Prepayment Period (and the Class C Certificates for number of Mortgage Loans to which such Distribution denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the Pass-Through Rate applicable number of Mortgage Loans to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountwhich such denials related); and
(xxvixxxi) such other information as the applicable Record Date, Accrual Period Guarantor may reasonable request in such format as reasonably requested by the Guarantor and Determination Date for calculating distributions for such Distribution Dateany other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the Guarantor and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at xxxx://xxx.xxxxxxxx.xxx, a statement as to the distributions made on such Distribution Date (the a “Monthly Statement”):
(i) the date of such Distribution Date and the Determination Date and LIBOR Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(iiiv) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iiiv) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(ivvi) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(vvii) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Collection Period;
(viii) the Pool Balance at the close of business at the end of the related Collection Period;
(ix) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixx) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency PercentageDate;
(xi) with respect to any Mortgage Loan that became an REO Property during the total preceding calendar month, the loan number and cumulative of such Mortgage Loan, the unpaid principal balance and the Principal Balance of all Liquidated such Mortgage Loans Loan as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zerodate it became an REO Property;
(xii) the book value of any REO Property as of the close of business on the last Business Day of the calendar month preceding the Distribution Date, and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Prepayment Penalties collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class P Certificates;
(xv) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvii) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates Fixed-Rate and the Class C Floating Rate Certificates for such Distribution Date Date, separately identifying the portions thereof attributable to Cap Carryover Amounts, and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Datenumber, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the last day of the related Collection Period;
(xx) the amount of any Cap Payment, Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesSwap Payments, if anyNet Swap Receipts, Swap Termination Payments or Defaulted Swap Termination Payments, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee paid;
(xxii) whether the Stepdown Cap Carryover Amounts distributed on such Distribution Date or a Trigger Event is in effectand the portion thereof constituting Cap Carryover Amounts, the amount of all Cap Carryover Amounts covered by withdrawals from the Cap Carryover Reserve Account and the Swap Account and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xxiii) any Overcollateralization Deficiency after giving effect to the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)distribution of principal on such Distribution Date;
(xxiv) whether a Trigger Event has occurred and is continuing (including the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates calculation thereof and the Class C Certificates for such Distribution Date aggregate outstanding balance of all 60+ Day Delinquent Mortgage Loans) and the Pass-Through Rate applicable to each Class cumulative Realized Losses, as a percentage of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Dateoriginal Pool Balance;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andInterest Remittance Amount and the Principal Remittance Amount;
(xxvi) the applicable Record Date, Accrual Period and Determination Date rate at which interest accrues for calculating distributions each Class of Certificates for such Distribution Date. The ;
(xxvii) [Reserved];
(xxviii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxix) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16;
(xxx) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxxi) whether a 40-Year Trigger Event has occurred and is continuing;
(xxxii) material breaches of Mortgage Loan representations and warranties of which the Trustee will make such statement or Servicer has knowledge or has received written notice; and
(and, at its option, xxxiii) material breaches of any additional files containing covenants under this Agreement of which the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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) 000-0000Trustee or Servicer has knowledge or has received written notice. Parties that are unable to use the above distribution option xxxx://xxx.xxxxxxxx.xxx are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk Trustee’s transaction manager at (000) 000-0000 and indicating such. 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 the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (iiii) through (iiiv) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder (other than the Residual Certificateholders), if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii), (iv), (xvii) and (xxii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports made available to the Certificateholders pursuant to Section 4.06(b) in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C-Bass 2007-Cb5 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Section 4.04(a), the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paid;enable Certificateholders to prepare their tax returns; 103
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;; 104
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contracts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s 's internet website shall initially to be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year 105 was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)received;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. ; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. For all purposes Such obligation of this Agreement, with respect to any Mortgage Loan, delinquencies the Trustee shall be determined deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2006, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2006, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2006, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the OTS methodology statement to Certificateholders 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 related Distribution 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trustee by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Offered Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Offered Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Offered Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Offered Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Offered Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Offered Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Offered Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date; and
(xxiv) the amount of income and gain realized from the investment of funds deposited in the Distribution Account during the Float Period for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the 103 Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. Cap Contract; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-Wmc1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Dateamount of any Net Swap Payments or Swap Termination Payments. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt3)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, post on its website at www.jpmorgan.com/absmbs a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):xxxx Xxxxxxxxxxxx Xxxx:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances in respect of the Trust Fund and each Loan Group for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and each Group Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans in the Trust Fund and in each Loan Group as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans in the Trust Fund and in each Loan Group (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and (D) Loan Group of such Mortgage Loan, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties in the Trust Fund and each Loan Group as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, both for the Trust Fund as a whole as well as for each Loan Group;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses, in each case for the Trust Fund as a whole as well as for each Loan Group;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and the Collection Account Class M-6 Certificates for such Distribution Date, separately identifying the portions thereof attributable to Net Rate Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.22;
(xvii) the amount of the Trustee Fee paid;
(xviii) the beginning and ending balances of the Basis Risk Reserve Fund on such Distribution Date, the Basis Risk Reserve Fund Deposit for such Distribution Date, and the Required Basis Risk Reserve Fund Amount for such Distribution Date;
(xix) the Senior Credit Enhancement Percentage for Net Rate Carryover Amounts distributed on such Distribution Date, separately identifying any Net Rate Carryover Amounts paid from amounts received in respect of the Interest Rate Cap Agreements, and any Net Rate Carryover Amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xx) any Overcollateralization Deficiency after giving effect to the Net WAC Rate Carryover Amount for each class distribution of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor principal on such Distribution Date;
(xxi) whether a Trigger Event has occurred and is continuing, and the amount cumulative Realized Losses, as a percentage of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provideroriginal Pool Balance;
(xxii) whether the Stepdown Date or a Trigger Event is in effectAvailable Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates Liquidation Report for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountaggregate Principal Balance of Mortgage Loans in each Loan Group and in the Trust Fund purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxvi) the applicable Record Date, Accrual aggregate Principal Balance of the Mortgage Loans in each Loan Group and in the Trust Fund repurchased by the Servicer (or an affiliate) during the related Collection Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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) 000-0000connection with Section 3.16. Parties that are unable to use the above distribution option http://www.jpmorgan.com/sfr are entitled to have a paper copy mailed to them via first class mail mailex xx xxxx xxx xxxxx xxxxx xail by calling the customer service desk Trustee at (212) 623-5600 and indicating such. The Trustee shall have the right to change the righx xx xxxxxx xxe 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 the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall provide to the Residual Certificateholders a copy of the reports provided to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp C Bass Mort Ln as Bk Cert Se 03 Cb6)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to on its website at xxx.xxxxxxxx.xxx/xxx for access by each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period and the number and aggregate Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Prepayment Charges collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C B Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Dateamount of any Net WAC Rate Carryover Amounts;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the Net WAC Rate Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Liquidation Report for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateMortgage Loan;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve in the Pre-Funding Account and the Interest Coverage Account;
(xxvi) for the distributions occurring on the Distribution Dates in the month following the end of the Funding Period, the balance on deposit in the Pre-Funding Account (exclusive of any investment income therein) not used to purchase Subsequent Mortgage Loans and that is being distributed to the Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date; and
(xxvixxvii) the applicable Record Date, Accrual aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Certificate Insurer, the Yield Maintenance provider, the Seller, any NIMS Insurer, the Master Servicer and each Rating Agency, a statement based, as applicable, on loan-level information provided to it by obtained from the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement Servicer (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. Information in the Distribution Date (Statement relating to or based on amounts available in the “Monthly Statement”):Yield Maintenance Account shall be based on information provided by the Yield Maintenance Provider regarding any Yield Maintenance Distributable Amounts required to be paid by the Yield Maintenance Provider for the related Distribution Date pursuant to the Yield Maintenance Agreement. The Distribution Date Statement shall include the following information, in each case, with respect to such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date[Reserved];
(iv) any fees the aggregate amount of Servicing Fees, Master Servicing Fees and expenses of Credit Risk Manager Fees for the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidrelated Due Period;
(v) the amount of Advances for each Loan Group and the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to Loan Group Balance for each Loan Group, Group and the related group balance Net WAC for each Loan Group at the Close of Business at the end of the related Due Period;
(vii) the Pool Balance, the Pool Collateral Balance and the Loan Group Balance for such Distribution Date;
(viii) for each Loan Group, the aggregate Principal Balance of the MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the amount of fees, expenses or indemnification amounts paid by the Trust Fund with an identification of the general purpose of such amounts and the party receiving such amounts;
(x) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxi) for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were Mortgage Loans, (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month, using the OTS method;
(xii) for each Loan Group, the book value (if available) of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiii) the aggregate amount of Principal Prepayments in fullfor each Loan Group, the aggregate amount of any Principal Prepayments, net Principal Prepayments in part and Net Liquidation Proceeds or other unscheduled recoveries of principal with respect to each Loan Group made during the related Prepayment Period;
(xiv) for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Due Period for each Loan Group and the cumulative amount of Realized Losses and the amount of Realized Losses, if any, allocated to each Class of Certificates after giving effect to any distributions made thereon, on such Distribution Date;
(xv) the aggregate amount Class Principal Balance of extraordinary Trust Fund expenses withdrawn from each Class of Certificates and the Collection Account for Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, on such Distribution Date;
(xvi) for each Loan Group, the Certificate Principal Balance Monthly Interest Distributable Amount and the Interest Distributable Amount in respect of each related Class of Class A Certificates, each class of Mezzanine Certificates for such Distribution Date and the Class C Certificatesrespective portions thereof, before and after giving effect to if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) for each Loan Group, the Monthly aggregate amount of any Net Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date Shortfalls and the Unpaid Interest Shortfall AmountAmount for such Distribution Date after giving effect to any distributions made thereon, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for on such Distribution Date;
(xviii) for each Loan Group, the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26related Available Funds;
(xix) for each Loan Group, the Senior Credit Enhancement Percentage Pass-Through Rate and related Adjusted Cap Rate for each Class of Certificates for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class Loan Group, the aggregate Principal Balance of Class A Certificates Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the Mortgage Loan Purchase Agreement, or the Section of this Agreement, as applicable, requiring or allowing the purchase of each class such Mortgage Loan;
(xxi) for each Loan Group, the amount of Mezzanine Certificatesany Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxii) current Recoveries allocable to each Loan Group;
(xxiii) cumulative Recoveries allocable to each Loan Group;
(xxiv) the amount of any Basis Risk Shortfall, if any, for such Distribution Date and the amount remaining unpaid each Class after reimbursements therefor giving effect to any distributions made thereon, on such Distribution Date;
(xxixxv) for each Loan Group, the amount of Deferred Interest and Net Deferred Interest, if any, for such Loan Group;
(xxvi) the amount of the Certificate Insurer Reimbursement Amount, if any;
(xxvii) the Deficiency Amount, if any, to be paid by the Certificate Insurer;
(xxviii) the amount of Net Deferred Interest, if any, added to the Class Principal Balance of the Certificates
(xxix) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderUnpaid Interest Shortfall Amount;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiiixxx) the total cashflows received (including amounts received amount of the Group 1 Final Maturity Reserve Amount, the Group 2 Final Maturity Reserve Amount and the Aggregate Final Maturity Reserve Amount deposited in the Final Maturity Reserve Account, and, on the Final Maturity Reserve Termination Date, the amount distributed from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable Final Maturity Reserve Account to each Class of Class A Certificates, each Class of Mezzanine Certificates and ;
(xxxi) the Class C Certificates Overcollateralized Amount for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding that Distribution Date;
(xxvxxxii) the Overcollateralization Target Amount for that Distribution Date;
(xxxiii) the amount remitted by the Administrator to the Securities Administrator pursuant to the Yield Maintenance Allocation Agreement;
(xxxiv) the payments, if any, made from the Yield Maintenance Account and the amount distributed to the LIBOR Certificates from such payments;
(xxxv) the amount of any Class P Distributable Amount and the amount of any Class ES Distributable Amount;
(xxxvi) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Prefunding Account in the aggregate and for each Loan Group (including a breakdown of amounts released during the prior calendar month in respect of Aggregate Subsequent Transfer Amounts or amounts included in Available Funds on the Distribution Date in the month following the end of the Prefunding Period) and the amount of funds remaining in the Capitalized Interest Account (after giving effect to distributions on such Distribution Date); and
(xxvixxxvii) the applicable Record Date, Accrual Period aggregate Principal Balance and Determination Date for calculating distributions for such Distribution Datenumber of Subsequent Mortgage Loans purchased in the Prefunding Period. The Trustee will Securities Administrator shall make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificate Insurer and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Initial Cut-off Date. In additionaddition to the information listed above, such Distribution Date Statement or the Trustee will report on Form 10-D for such Distribution Date shall also include any material breaches other information required by Item 1121 (§ 229.1121) of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsRegulation AB.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-14)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer in the Remittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at xxx.xxxxx.xxx/xxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Pro Rata Senior Percentage, the Overcollateralized AmountSenior Percentage, the Overcollateralization Release AmountSenior Prepayment Percentage, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to each Loan Group, the related group balance Pool Balance and Net WAC at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the Mortgage Loans as of the related Determination Due Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the Determination Date preceding such Distribution Date;
(x) with respect to any Mortgage Loan that became a REO Property during the preceding calendar month, the loan number of such Mortgage Loan and the Principal Balance of such Mortgage Loan as of the date it became a REO Property;
(xi) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment PeriodDate, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Due Period;
(xii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Class Certificate Principal Balance of each Class of Certificates (other than the Class A X Certificates, each class of Mezzanine Certificates ) and the Class C Certificate Notional Balance of the Class X Certificates, before and after giving effect to any distributions made thereon, on such Distribution Date;
(xvi) the Interest Distributable Amount in respect of each Class of the Certificates, for such Distribution Date and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24 hereof;
(xviii) if applicable, whether the Step Down Conditions have been met;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateAvailable Funds;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;; and
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased by the Servicer or Swap Termination Payments (a) due from the Trust Seller during the related Due Period, and (b) due from indicating the Swap Provider;
(xxii) whether Section of this Agreement requiring or allowing the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateMortgage Loan. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 Holders that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling notifying the customer service desk Trustee in writing and indicating suchrequesting same. The Trustee shall have the right to change the way such statements Distribution Date Statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties Holders and the Trustee shall provide timely and adequate notification to all above parties the Holders regarding any such changes. As a condition The Trustee's obligations pursuant to access this Section 4.04 are limited to the Trustee’s internet website, extent of its receipt of all necessary information from the Trustee may require registration and the acceptance of a disclaimerServicer. The Trustee will not be liable for the dissemination of information in accordance may fully rely upon and shall have no liability with this Agreement. The Trustee shall also be entitled respect to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from information provided by the Servicer and reported by time to time.
(c) On each Distribution Date, the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar shall supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable 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 DateBloomberg Financial Markets, 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.Inc.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);Period; 108
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiv) [reserved];
(xxv) [reserved];
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “"wxx.xxxxxxx.xxx”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 110 notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates, the Swap ProviderTrustee, the Servicer Master Servicer, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool Pool, for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) by Loan Group and in the aggregate, the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C B Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;; 112
(xxxix) the related Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee on such Distribution Date;
(xxiixxi) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each the Mezzanine Certificates, the Class of Mezzanine B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxiv) reserved;
(xxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related);
(xxix) for such Distribution Date, the amount of any payment made by the Cap Provider under each of the Cap Agreements; and
(xxvixxx) the applicable Record Date, Accrual amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and Determination Date the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate and for calculating distributions for such Distribution Dateeach of Loan Group I and Loan Group II. The Trustee will shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider NIMS Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (0-000) -000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Holders of the Residual Certificates and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Holder of a Residual Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-Hy1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage and the Class A-6 Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) amounts due, and the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provideramounts received under each Cap Contract;
(xxiixxi) whether when the Stepdown Date Date, a Trigger Event or a Sequential Trigger Event is in effect;
(xxiiixxii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxiii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiv) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxv) (A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Section 4.04(a), the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentageaggregate of any draws under the Mortgage Pool Insurance Policy during the related Prepayment Period, and the remaining coverage under the Mortgage Pool Insurance Policy following such draws;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, the Class S Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Class S Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;; 102
(xxxviii) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the Net WAC Rate Carryover Amount for each class distribution of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor principal on such Distribution Date;
(xxixix) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixx) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxi) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxii) the amount on deposit Net WAC Rate Carryover Reserve AccountAmount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"www.ctslink.com". Assistance in using the Assistxxxx xx xxxxx xhe website can be obtained by calling the Trustee’s 's customer service desk at (000301) 000815-00006600. Parties that are unable xxxx xxx xxxxxe to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or 103 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-FFC)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;; 115
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date; and
(xxiii) payments, if any, made under the Cap Contract;
(xxvxxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s 's internet website shall initially to be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates, the Swap ProviderTrustee, the Servicer Master Servicer, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool Pool, for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each the Class of Class A AV Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date; 105
(xviixvi) the Monthly Interest Distributable Amount in respect of each the Class of Class A AV Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine AV Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of the Class A AV Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee on such Distribution Date;
(xxiixxi) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each the Class of Class A AV Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each the Class of Class A AV Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiv) reserved;
(xxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related); and
(xxvixxix) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date, the amount of any payment made by the Cap Provider under the Cap Agreement. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider NIMS Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”https://www.corporatetrust.db.com/ixxx. Assistance in using the website can Xxxxxxxxxx xx xxxxx xxx xxxxxxx xan be obtained by calling the Trustee’s 's customer service desk at (000) 0001-0000800-735-7777. Parties that are unable to use the unxxxx xx xxx xxe above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Holders of the Residual Certificates and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Holder of a Residual Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent 107 that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Certs Series 2003-4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies 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) 000-0000desk. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Certificates and the Rating AgenciesNIM Insurer, a statement (the "Distribution Date Statement") on its Internet website as to the distributions made on such Distribution Date (the “Monthly Statement”):setting forth:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of Servicing Fees received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, in each case as of the last day of the preceding calendar month (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, with respect to whom bankruptcy proceedings are pending or with respect to whom bankruptcy protection is in force;
(2ix) 60 with respect to 89 days and (3) 90 or more daysany Mortgage Loan that became an REO Property during the preceding calendar month, (C) in bankruptcy and Delinquent (1) 30 to 59 daysthe loan number of such Mortgage Loan, (2) 60 to 89 days and (3) 90 or more days, in each case the unpaid Principal Balance of the REO Property as of the Close close of Business business on the last day Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the calendar month preceding such Distribution Date and (D) date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amount, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amount;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts in the case of the Class A-1A Certificates, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts on the Class A-1A Certificates distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts on the Class A-1A Certificates covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Charge listed on deposit Net WAC Rate Carryover Reserve Account; andeach related Mortgage Note and the Prepayment Charge collected or the Servicer Prepayment Charge Payment Amount paid by the Servicer with respect to each such Mortgage Loan;
(xxvi) the applicable Record Dateamount of Subsequent Recoveries received during the related Prepayment Period;
(xxvii) the amount of Prepayment Interest Excess retained by the Servicer for the related Prepayment Period; and
(xxviii) the aggregate amount of Relief Act Interest Shortfalls. The Trustee may fully rely upon and shall have no liability with respect to information with respect to the Mortgage Loans provided by the Servicer. In the case of information furnished pursuant to subclauses (i), Accrual Period (ii) and Determination Date (xiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for calculating distributions each Class for such Distribution each $1,000 original dollar amount as of the Cut-off Date. The Trustee will shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Certificateholders, the NIMS Insurer, the Swap Provider Servicer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”https://www.tss.db.com/invr. Assistance in using the website can be obtained by calling the Trustee’s customer service obxxxxxx xx xxxxxxx xxx Xxxxxee's investor relations desk at (000800) 000735-00007777. Parties that are unable to use the above distribution option are entitled xxxxxxx xxx xxtitled to have a paper copy mailed to them via first class mail by calling the customer service investor relations desk and indicating such. 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 .
(b) Within a condition to access reasonable period of time after the Trustee’s internet websiteend of each calendar year, the Trustee may require registration shall furnish to the NIMS Insurer and each Person who at any time during the acceptance calendar year was a Certificateholder of a disclaimer. The Trustee will not be liable for Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the dissemination of information set forth in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i), (ii) through and (iiivi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the amounts Trustee shall be expressed in a separate section deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the report Code as a dollar amount for are in force from time to time.
(c) On each Class for each $1,000 original dollar amount as of the Cut-off Distribution Date. In addition, the Trustee will report on Form 10-D any material breaches shall make available to the Class R Certificateholder a copy of representations and warranties regarding the Mortgage Loans reports made available to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished to Class R Certificateholder by the Trustee pursuant to any requirements of the Code as from time to time in force.
(d) The Trustee shall, upon request, furnish to each Certificateholder or Certificate Owner and the NIMS Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be reasonable with respect to the Trustee and if applicableCertificateholder or Certificate Owner, material modifications, extensions or waivers otherwise with respect to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, all such reports or information to be provided at the expense of the Certificateholder or Certificate Owner in accordance with respect to any Mortgage Loan, delinquencies shall be determined by such reasonable and explicit instructions and directions as the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsCertificateholder or Certificate Owner may provide.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2005-Aq1 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xA) the Delinquency Percentagedollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related); (B) the cumulative dollar amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); (C) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related); and (D) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A A-1 Certificates, the Class A-2 Certificates, the Class M-1 Certificates, the Class M-2A Certificates and each class of Mezzanine the Class M-3 Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;; and
(xxvxxiii) the amount on deposit of payments, if any, made under the Cap Contracts, received by the Trustee and deposited into the Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions Account for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxxxxxxxxx.xx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Ser 2002-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;; 101
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date 102 and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. Cap Contract; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (ii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trustee by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiv) the amount of income and gain realized from the investment of funds deposited in the Distribution Account during the Float Period for such Distribution Date;
(xxv) to the extent provided by the Servicer (A) the amount of payments received from the Servicer related to claims under each PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under each PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); and
(xxvi) to the extent provided by the Servicer (A) the dollar amount of claims made under each PMI Policy that were denied (as identified by the Servicer) during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under each PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates, the Swap ProviderTrustee, the Servicer Master Servicer, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool Pool, for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated a) delinquent 30‑59 days, (b) delinquent 60‑89 days, (c) delinquent 90 or more days in each case, as of the end last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Prepayment Due Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) by Loan Group and in the aggregate, the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of Mezzanine the Class M Certificates, the Class B Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of Mezzanine the Class M Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Class M Certificates and the Class C B Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the related Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Class M Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee on such Distribution Date;
(xxiixxi) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Pass‑Through Rates applicable to each Class of the Class A Certificates, each the Class of Mezzanine M Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Pass‑Through Rate applicable to each Class of the Class A Certificates, the Class M Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxiv) reserved;
(xxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date (and the number of Mortgage Loans to which such payments related);
(xxviii) (A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related);
(xxix) for such Distribution Date, the amount of any payment made by the Cap Provider under the Cap Agreement; and
(xxvixxx) the applicable Record Date, Accrual amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and Determination Date the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate and for calculating distributions for such Distribution Dateeach of Loan Group I and Loan Group II. The Trustee will shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider NIMS Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”xxxxx://xxx.xxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-00001‑800‑735‑7777. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Holders of the Residual Certificates and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Holder of a Residual Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Dateamount of any Net Swap Payments or Swap Termination Payments. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhtxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000800) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trustee by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(ib) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(iii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iiiii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iviii) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(viv) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(viv) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivi) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixvii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiviii) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivx) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxi) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixiv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.25;
(xixxv) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvi) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixvii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixviii) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap AgreementAgreement and under the Basis Risk Cap Agreements);
(xxivxix) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A the Fixed Rate Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxx) payments, if any, made under the Basis Risk Cap Agreements and the amount distributed to the related Certificates from such payments;
(xxi) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiii) the amount of income and gain realized from the investment of funds deposited in the Distribution Account during the Float Period for such Distribution Date;
(xxiv) to the extent provided by the Servicer (A) the amount of payments received from the Servicer related to claims under each PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under each PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); and
(xxv) to the extent provided by the Servicer (A) the dollar amount of claims made under each PMI Policy that were denied (as identified by the Servicer) during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under each PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxxhxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(d) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer), the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A the Fixed Rate Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Fixed Rate Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage and the Class M-1 Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A the Fixed Rate Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxxxxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, on each Distribution Date, based, as applicable, on information provided to the Trustee will report Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on Form 10-D any material breaches of representations information provided to the Master Servicer by the Servicer), the Trust Administrator shall prepare and warranties make available information, separated for the Originator, regarding the performance of the Mortgage Loans to Loans, including, but not limited to, information regarding delinquency, loss and prepayment experience of the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over timeLoans. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS “OTS” 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 ’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. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer. Once each calendar month, the Trust Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall (i) prepare and make available forward by mail to each Holder of the Regular Certificates and (ii) make available on its website at wxx.xxxxxx.xxx/xxx for access by each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Prepayment Charges collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Dateamount of any Net WAC Rate Carryover Amounts;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the Net WAC Rate Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Liquidation Report for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Mortgage Loan; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (xxvior an affiliate) during the applicable Record Date, Accrual related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available post on its website at www.usbank.com/abs and forward by mail to each Holder of the Regular CertificatesCexxxxxxxxxx, the Swap Provider, the Servicer and the Rating Agencies, a statement x xxxxement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and the Loan Group Balance for each Loan Group at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to separately stated for each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) separately stated for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) separately stated for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) separately stated for each Loan Group, the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates and each Component, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and each Component for such Distribution Date, separately identifying the Collection Account for portions thereof attributable to LIBOR Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) [Reserved];
(xviii) [Reserved];
(xix) the Senior Credit Enhancement Percentage for such Distribution Dateamount of the Trustee Fee paid;
(xx) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for Amounts distributed on such Distribution Date and the amount portion thereof constituting LIBOR Carryover Amounts and the amounts remaining unpaid after reimbursements therefor giving effect to distributions thereof on such Distribution Date;
(xxi) any Overcollateralization Deficiency after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event has occurred and is in effectcontinuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to rate at which interest accrues for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andLiquidation Report for such Distribution Date;
(xxvi) the applicable Record Date, Accrual aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and Determination Date for calculating distributions for indicating the Section of this Agreement requiring or allowing the purchase of each such Distribution DateMortgage Loan; and
(xxvii) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (C Bass Mortgage Loan Asset Backed Cert Series 2002-Cb5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Dividend Account immediately prior to the related Servicer Remittance Date, the amount deposited into the Dividend Account on the related Servicer Remittance Date (separately identifying the amount received from Mortgagors and the amount advanced) and the amount withdrawn from the Dividend Account on the related Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date); and
(xxvi) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, 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 known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Frank Mort Ln Tr 2002-Ff2)
Statements. (a) On Concurrently with each Distribution Date, based, as applicable, on information provided payment to it by the ServicerNoteholders, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular CertificatesNoteholder, the Swap ProviderSeller, the Servicer Master Servicer, the Indenture Trustee, the Depositor and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer and the Servicer (the "Payment Date Statement") as to the distributions payments to be made or made, as applicable, on such Distribution Payment Date. The Payment Date (Statement shall include the “Monthly Statement”):
(i) following: the applicable Accrual Periods and general Payment Dates; the total cash flows received and the general sources thereof for any Loan Group; the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees; the amount of the distribution made on such Distribution Date related payment to the Holders of each Class of Regular Certificates allocable to principal and the amount holders of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
Notes (ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificatesby Class) allocable to interestprincipal, separately identified;
identifying (iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(vA) the aggregate amount of Advances any Principal Prepayments included therein and (B) the aggregate of all Monthly Payments of principal included therein; the amount of such distribution to holders of the Notes (by Class) allocable to interest; the Class Principal Balance of the Notes before and after giving effect to the distribution of principal and allocation of Realized Losses on such Payment Date; the number and Scheduled Principal Balance of all the Mortgage Loans for the related Due Period following Payment Date; the Note Interest Rate for each class of Notes for such Payment Date; the aggregate amount of Advances included in the payments on the Payment Date (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) ; the number and aggregate unpaid principal balance Scheduled Principal Balance of any Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment PeriodA) that were (as determined using the OTS method) (A) Delinquent delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Propertiesforeclosure) using the "OTS" method (1) 30 to 59 daysone scheduled payment, (2) 60 to 89 days two scheduled payments and (3) 90 or more days, three scheduled payments and (B) as to which foreclosure proceedings have been commenced commenced, and Delinquent (1) 30 loss information for the period; with respect to 59 daysany Mortgage Loan that was liquidated during the preceding calendar month, (2) 60 to 89 days the loan number and (3) 90 or more daysScheduled Principal Balance of, (C) in bankruptcy and Delinquent (1) 30 to 59 daysRealized Loss on, (2) 60 to 89 days and (3) 90 or more days, in each case such Mortgage Loan as of the Close of Business on the last day end of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) related Prepayment Period; the total number and cumulative principal balance Principal Balance of all Liquidated Mortgage Loans any REO Properties included in the Loan Groups as of the Close end of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) ; the aggregate amount of Realized Losses incurred during Senior Note Available Funds Shortfalls for the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall AmountOffered Notes, if any, with respect to the Class A Certificates, the Mezzanine Certificates any and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover in the Class A-X Reserve AccountFund; andthe cumulative Realized Losses for the Loan Groups through the end of the preceding month;
(xxvia) the applicable Record number of Mortgage Loans in each Loan Group that have been modified during the related Due Period and the percentage (by Scheduled Principal Balance) of Mortgage Loans modified in each Loan Group during the related Due Period, (b) the type of modification with respect to any Mortgage Loans modified during the related Due Period in each Loan Group, the number of Mortgage Loans subject to each type of modification during the related Due Period in each Loan Group and the percentage (by Scheduled Principal Balance) of Mortgage Loans in each Loan Group subject to each type of modification during the related Due Period, (c) the number of Mortgage Loans in each Loan Group that have been modified since the Cut-off Date and the percentage (by Scheduled Principal Balance) of Mortgage Loans in each Loan Group modified in each Loan Group since the Cut-off Date, Accrual (d) the type of modification with respect to any Mortgage Loans modified since the Cut-off Date, the number of Mortgage Loans in each Loan Group subject to each type of modification since the Cut-off Date and the percentage (by Scheduled Principal Balance) of Mortgage Loans in each Loan Group subject to each type of modification since the Cut-off Date, (e) the aggregate of the portion of the Scheduled Principal Balance of the Mortgage Loans in each Loan Group forgiven during the related Due Period and Determination Date for calculating distributions for aggregate of the portion of the Scheduled Principal Balance of the Mortgage Loans in each Loan Group forgiven since the Cut-off Date, (f) the delinquency status of each Mortgage Loan modified since the Cut-off Date, (g) the number of times any Mortgage Loan has been subject to a modification, (h) the date of the most recent modification of any Mortgage Loan in each Loan Group, (i) the number of modifications made on the Mortgage Loans in each Loan Group during the prior twelve months, (j) the percentage of Mortgage Loans in each Loan Group that have been modified that are Delinquent and (k) the Mortgage Rate of each Mortgage Loan that has been modified prior to and subsequent to such Distribution Datemodification; and the three-month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Scheduled Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the Scheduled Principal Balances of all of the Mortgage Loans. The Trustee Securities Administrator will make such statement the Payment Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Securityholders and the Rating Agencies other parties to this Agreement via the Trustee’s Securities Administrator's internet website. The Trustee’s Securities Administrator's internet website shall initially be located at “wxx.xxxxxxx.xxx”. "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (0-000) -000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Noteholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Noteholder and such other customary information which a Securityholder reasonably requests to prepare its tax returns. Such obligation of representations and warranties regarding the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Securityholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Payment Date, the Securities Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis. In addition to the Trustee and if applicableabove, material modificationsthe Master Servicer shall provide a monthly loan level data file, extensions or waivers to Mortgage Loan termsthe Master Servicer shall make available on the Master Servicer's internet website, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from a monthly loan level data file (based solely on information provided by the Servicer) containing data provided to the Master Servicer and reported by the Trustee based on Servicer, available to those who are permitted to access the OTS methodology for determining delinquencies on mortgage loans similar website, including the Rating Agencies. The file shall contain the fields referenced in Exhibit L. If the Servicer is no longer going to make that information available to the Mortgage Loans. By way of exampleMaster Servicer, a Mortgage Loan would Rating Agencies should be Delinquent with respect notified and be informed as to a Monthly Payment due on a Due Date if such Monthly Payment is not how this data will be 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. The Servicer hereby represents and warrants available to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsRating Agencies in the future.
Appears in 1 contract
Samples: Sale and Servicing Agreement (PHH Mortgage Trust, Series 2008-Cim2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions tx xxx xxxxxxxxxions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsCharges;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Securities Administrator Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Depositor during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountof the Credit Risk Manager Fee paid; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the same information subject of a Principal Prepayment in an alternative format) available each month to Certificateholdersfull during the related Collection Period, the NIMS InsurerPrepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Swap Provider and Servicer Prepayment Charge Payment Amount paid by the Rating Agencies via Servicer or the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (000301) 000815-00006600. Parties that are unable to use the above distribution option are entitled xxxxxx xxx xxtitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Class R Certificateholder by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the applicable Reserve Account on such Distribution Date;
(xxixviii) any Overcollateralization Deficiency after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for principal on such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance; (xx) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.Available Funds;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2004-2 Trust)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to from Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the principal balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(f) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount Pass-Through Rate for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Depositor during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Penalty that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Penalty listed on deposit Net WAC Rate Carryover Reserve Account; andeach related Mortgage Note and the Prepayment Penalty collected, and the Servicer Prepayment Penalty Payment Amount and the Originator Prepayment Penalty Payment Amount paid with respect to each such Mortgage Loan;
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions amount of any Yield Maintenance Agreement Payments for such Distribution Date. The Trustee will make such statement ; and
(and, at its option, any additional files containing xxvii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”related Prepayment Period. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (000301) 000815-00006600. Parties The Securities Administrator shall provide such informaxxxx xx xxxxxxs that are unable to use the above distribution option are entitled to have a paper copy mailed by mailing to them via first class mail a paper copy of the Distribution Date Statement, upon request of any such party made by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Residual Certificateholders a copy of the reports forwarded to the holder of any Regular Certificate in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Residual Certificateholders by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-3 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates, the Swap ProviderTrustee, the Servicer Master Servicer, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool Pool, for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated a) delinquent 30‑59 days, (b) delinquent 60‑89 days, (c) delinquent 90 or more days in each case, as of the end last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Prepayment Due Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) by Loan Group and in the aggregate, the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C B Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the related Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee on such Distribution Date;
(xxiixxi) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Pass‑Through Rates applicable to each Class of the Class A Certificates, each the Mezzanine Certificates, the Class of Mezzanine B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Pass‑Through Rate applicable to each Class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxiv) reserved;
(xxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date (and the number of Mortgage Loans to which such payments related);
(xxviii) (A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related);
(xxix) for such Distribution Date, the amount of any payment made by the Cap Provider under each of the Cap Agreements; and
(xxvixxx) the applicable Record Date, Accrual amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and Determination Date the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate and for calculating distributions for such Distribution Dateeach of Loan Group I and Loan Group II. The Trustee will shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider NIMS Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wxx.xxxxxxx.xxx”xxxxx://xxx.xxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-00001‑800‑735‑7777. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (ii) above, 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 known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Holders of the Residual Certificates and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Holder of a Residual Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based on information provided to the Master Servicer by the Servicer), the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Credit Risk Manager, the Servicer, the Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount of payments received related to claims under the Pool Policy during the related Prepayment Period (and the number of Covered Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the Pool Policy since the Closing Date (and the number of Covered Mortgage Loans to which such payments related);
(xxvi) the dollar amount of claims made under the Pool Policy that were denied during the Prepayment Period (and the number of Covered Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the Pool Policy that were denied since the Closing Date (and the number of Covered Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxix) the amount of any payments/draws under the Policy; and
(xxx) the amount of any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Certificate Insurer, the Swap Provider Provider, the Credit Risk Manager, the Master Servicer, the Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee Trust Administrator will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee Trust Administrator and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee Trust Administrator from information provided by the Servicer and reported by the Trustee Trust Administrator based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans“OTS” methodology. 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 Close of business 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 Close of business Business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to the Certificate Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Certificate Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to the Certificate Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Trust Administrator shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trust Administrator shall promptly notify the Depositor and the Depositor, on behalf of the Trust Administrator, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Trust Administrator shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trust Administrator the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Trust Administrator shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Hl1)
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to each Certificateholder, the Seller, the Master Servicer, the Trustee and each Rating Agency, a statement based, as applicable, on loan-level information provided to it by obtained from the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating AgenciesServicers, a statement (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. The Distribution Date (Statement shall include the “Monthly Statement”):following, in each case, with respect to such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of Servicing Fees, Credit Risk Management Fees and expenses of Master Servicing Fees for the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidrelated Due Period;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) weighted average remaining term to maturity, weighted average life and weighted average Loan Rate of the aggregate amount related Mortgage Loans as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDate;
(vii) with respect to each Loan Group, the related group balance Net WAC and applicable Net WAC Cap at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate Balance of the Six-Month LIBOR Indexed Mortgage Loans as at the Close of Business at the end of the related Determination DateDue Period;
(ix) the amount of fees, expenses or indemnification amounts paid by the Trust Fund with an identification of the general purpose of such amounts and the party receiving such amounts;
(x) the aggregate Prepayment Premium Amounts for the related Prepayment Period;
(xi) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month, in each case, using the MBA method;
(xii) the book value (if available) of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment PeriodDate, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses and the amount of Realized Losses, if any, allocated to each Class of Certificates;
(xv) the aggregate amount Class Principal Balance or Class Notional Balance, as applicable, of extraordinary Trust Fund expenses withdrawn from the Collection Account for each Class of Certificates after giving effect to any distributions made thereon, on such Distribution Date after giving effect to any distributions made thereon, on such Distribution Date;
(xvi) the Certificate Principal Balance Current Interest in respect of each Class of Class A Certificates, each class of Mezzanine Certificates for such Distribution Date and the Class C Certificatesportion thereof, before and after giving effect to if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly aggregate amount of any Net Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates Shortfalls for such Distribution Date and the Unpaid Interest Shortfall Amountafter giving effect to any distributions made thereon, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26Available Funds;
(xix) the Senior Credit Enhancement Percentage Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount aggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the Servicing Agreement, or the Section of this Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxi) current and cumulative Recoveries for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixxii) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;Basis Risk Shortfall, if any, for each Class after giving effect to any distributions made thereon, on such Distribution Date
(xxiii) the total cashflows received (including amounts received Final Maturity Reserve Amount deposited in the Final Maturity Reserve Account, and, on the Final Maturity Reserve Termination Date, the amount distributed from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Final Maturity Reserve Account to each Class of Certificates;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificatespayments, each Class of Mezzanine Certificates if any, made from the Yield Maintenance Account and the Class C amount distributed to the LIBOR Certificates for from such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;payments; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions of any Class P Distributable Amount for such Distribution Date. The Trustee will Securities Administrator shall make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports 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 a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In additionaddition to the information listed above, such Distribution Date Statement or the Trustee will report on Form 10-D for such Distribution Date shall also include any material breaches other information required by Item 1121 (§ 229.1121) of representations Regulation AB.
(b) Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder and such other customary information which a Certificateholder reasonably requests to prepare its tax returns. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(c) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to 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 Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-13)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available post on its website at www.usbank.com/abs and forward by mail to each Holder of the Regular CertificatesCexxxxxxxxxx, the Swap Provider, the Servicer and the Rating Agencies, a statement x xxxxement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal or reduction of Notional Amount, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date, separately identifying the portions thereof attributable to 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or Seller during the Interest Rate Swap Agreement)related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Servicer during the immediately succeeding Distribution Daterelated Collection Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountof the Credit Risk Manager Fee paid; and
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Charge listed on each related Mortgage Note and Determination Date for calculating distributions for the Prepayment Charge collected or the Servicer Prepayment Charge Payment Amount paid by the Servicer with respect to each such Distribution DateMortgage Loan. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2002-Nc1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and 112 Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and 113 the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “wxx.xxxxxxx.xxx”"xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Credit Risk Manager, the Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage, the Cumulative Loss Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Floating Rate Certificates, each class of Mezzanine the Class X Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A of Floating Rate Certificates, the Mezzanine Class X Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Floating Rate Certificates, each the Class of Mezzanine X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Floating Rate Certificates and each class of Mezzanine Class X Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount of any Net Swap Payments or Swap Termination Payments paid to the Swap Provider;
(xxiii) the amount on deposit Net WAC Rate Carryover Reserve in the Interest Coverage Account; and
(xxvixxiv) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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) 0001-0000866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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 ’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 DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, 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 prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt4)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at xxx.xxxxxxxx.xxx/xxxxxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal or reduction of Principal Balance, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P N Certificates allocable to Prepayment Charges Charges, Servicer Prepayment Charge Payment Amounts and Servicer Transferor Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance Balance, or Principal Balance, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of 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) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixvi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies 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 above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The 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 the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS 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. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.Fee paid;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2003-Ahl1)
