Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and 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, a statement as to the distributions made on such Distribution Date: (i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identified; (ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified; (iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date; (iv) [reserved]; (v) the aggregate amount of Advances for the related Collection Period; (vi) the Pool Balance at the close of business at the end of the related Collection Period; (vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date; (viii) the number and aggregate unpaid Principal Balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property; (x) 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 of business of the last day of the preceding Collection Period; (xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (xii) 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 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class 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 amount of any LIBOR Carryover Amounts; (xvi) 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 3.23; (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 distribution of principal on such Distribution Date; (xx) whether a Trigger Event has occurred and is continuing, and the 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 of 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 such Mortgage Loan; and (xxv) 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. 95 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) 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. (b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Overcollateralized Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Adjustable-Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Adjustable-Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Adjustable-Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Adjustable-Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Accounts and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanInterest Coverage Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (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 by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) 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, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred the Net WAC Rate Carryover Amount for each class of Class A Certificates and is continuingeach class of Mezzanine Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for each Class of Certificates for such Distribution DateStepdown Date or a Trigger Event is in effect;
(xxiii) the Liquidation Report for such Distribution Datetotal cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the aggregate Principal Balance respective Pass-Through Rates applicable to each Class of Mortgage Loans purchased by Class A Certificates, each Class of Mezzanine Certificates and the Servicer or Seller during Class C Certificates for such Distribution Date and the related Collection Period Pass-Through Rate applicable to each Class of Class A Certificates and indicating each class of Mezzanine Certificates for the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; andimmediately succeeding Distribution Date;
(xxv) the aggregate Principal Balance of amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection applicable Record Date, Accrual Period in connection with Section 3.16and Determination Date for calculating distributions for such Distribution Date. 95 The Trustee may fully rely upon 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year. In addition, the Trustee shall furnish to each Person who at will report on Form 10-D any time during material breaches of representations and warranties regarding 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), (ii), (xv) and (xviii) 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 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 substantially comparable information have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be prepared and furnished determined by the Trustee to Certificateholders pursuant to any requirements of from information provided by 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 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 Servicer and furnished to Residual Certificateholders reported by the Trustee pursuant 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 requirements of the Code as from time to time in forcedelinquency 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 the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail make available 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 Servicer, the NIMS Insurer, the indenture trustee under the Indenture and the Rating Agencies a statement by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)), based on information provided to the Trustee by the Servicer or the Swap Counterparty, as to the distributions made on such Distribution Date:
(i) the amount of record dates, the accrual period, the determination date and the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifieddate;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular 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 or Class X Distributable Amountand the Pass-Through Rates, separately identified;
(iiiiv) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(v) by Loan Group and in the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(vi) the Group I Interest Remittance Amount and Monthly Excess Cashflow the Group II Interest Remittance Amount and the Group I Principal Remittance Amount and the Group II Principal Remittance Amount for such Distribution Date;
(iv) [reserved];
(vvii) the aggregate amount of Advances and Servicing Advances for the related Collection Due Period, the amount of unrecovered Advances and Xxxxxxxxx Advances (after giving effect to Advances and Xxxxxxxxx Advances made on the Distribution Date) outstanding and the amount of Nonrecoverable Advances and Servicing Advances for such Distribution Date;
(viviii) the Pool number and aggregate Stated Principal Balance of the Group I Mortgage Loans, the Group II Mortgage Loans and all Mortgage Loans at the close Close of business Business at the end of the related Collection Due Period and at the beginning of the related Due Period;
(viiix) 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 Due Determination Date;
(viiix) by Loan Group and in the aggregate, the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basisdelinquent 30‑59 days, (b) 60 to 89 days past due on a contractual basisdelinquent 60‑89 days, (c) 90 delinquent 90-119 days and (d) 120 or more days past due on a contractual basisin 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, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixxi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxii) 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 Collection Prepayment Period;
(xixiii) by Loan Group and in the aggregate, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xiixiv) by Loan Group and in the aggregate, 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 principal and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of interest Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of principal and interest Realized Losses;
(xivxv) the aggregate amount of Extraordinary Trust Fund Expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvi) the Certificate Principal Balance or of the Class A Certificates, 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, as applicable, Amount of each the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates and the 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 amount of any LIBOR Carryover Amounts;
(xvixviii) by Loan Group and in the aggregate, 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 3.23;
(xvii) 3.24, and the aggregate 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 any Relief Act Interest Shortfalls for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Credit Enhancement Percentage for such Distribution Date;
(xx) the related Net WAC Rate Carryover Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Trustee Fee, the Servicer Fee and the PMI Insurer Fee on such Distribution Date;
(xxii) whether a Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues for each respective Pass‑Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass‑Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiiixxv) by Loan Group and in the Liquidation Report for such Distribution Date;
(xxiv) aggregate, the aggregate Principal Balance of Mortgage Loans purchased repurchased by the Servicer or Seller Seller;
(xxvi) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvii) the amount on deposit in the Reserve Fund;
(A) the dollar amount of payments received related to claims under the PMI Policy during the related Collection Prepayment Period (and the number of Mortgage Loans to which such payments related), (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); and (C) the amount of coverage remaining under the PMI Policy;
(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);
(xxx) the amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and indicating the Section cumulative amount of this Agreement requiring Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate and for each of Loan Group I and Loan Group II;
(xxxi) the Group I Swap Payment, the Group II Swap Payment, the Swap Payment, the Counterparty Payment, the Group I Net Swap Payment, the Group II Net Swap Payment, the Net Swap Payment and the Net Counterparty Payment for such Distribution Date; the Group I Swap Termination Payment paid on such Distribution Date, the Group II Swap Termination Payment paid on such Distribution Date, the Swap Termination Payment and the Swap Termination Payment remaining unpaid from prior Distribution Dates, and in each case whether payable by the Supplemental Interest Trust Trustee or allowing by the purchase of each such Mortgage LoanSwap Counterparty; and any Counterparty Payments unpaid from prior Distribution Dates; and
(xxvxxxii) the Group I Final Maturity Reserve Amount, the Group II Final Maturity Reserve Amount, the Supplemental Final Maturity Reserve Amount, the Aggregate Final Maturity Reserve Amount and the aggregate Principal Balance of amount on deposit in the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Final Maturity Reserve Account for such Distribution Date. 95 The Trustee may fully rely upon 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 Servicer, the NIMS Insurer, the Swap Counterparty and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at xxxxx://xxx.xxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at 1‑800‑735‑7777. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviii) 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 forward to the Holders of the Residual Certificateholders 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 Residual 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 Bloomberg.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-8), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-6)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) 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, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred the Net WAC Rate Carryover Amount for each class of Class A Certificates and is continuingeach class of Mezzanine Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for each Class of Certificates for such Distribution DateStepdown Date or a Trigger Event is in effect;
(xxiii) the Liquidation Report for such Distribution Datetotal cashflows received;
(xxiv) the aggregate Principal Balance 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 purchased by to which such payments related) and (B) the Servicer or Seller 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 related Collection Prepayment Period (and indicating the Section number of this Agreement requiring or allowing Mortgage Loans to which such denials related) and (B) the purchase dollar amount of each the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such Mortgage Loandenials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvxxviii) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection applicable Record Date, Accrual Period in connection with Section 3.16and Determination Date for calculating distributions for such Distribution Date. 95 The Trustee may fully rely upon 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 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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 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 (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 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 statement to Certificateholders for the related Distribution Date.
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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the distribution Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of principal on such Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website located at wxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee’s customer service desk at 1-866-846-4526. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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 “OTS Method”). The Servicer hereby represents and warrants to the Depositor that this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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-Opt3), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection relted Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Class A Certificates, Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Class A and Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Datetotal cashflows received and the general sources thereof;
(xx) whether a Trigger Event has occurred and is continuingthe respective Pass-Through Rates applicable to each Class of Class A Certificates, Mezzanine Certificates and the cumulative Realized Losses, as a percentage Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A and Mezzanine Certificates for the original Pool Balanceimmediately succeeding Distribution Date;
(xxi) the Available Funds;amount of any Net Swap Payments or Swap Termination Payments; and
(xxii) the rate at which interest accrues applicable Record Dates, Accrual Periods and Determination Dates for each Class of Certificates calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Liquidation Report for such Distribution Date;
NIMS Insurer, the Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxxxx://xxx.xxx.xx.xxx/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (xxiv000) 000-0000. Parties that are unable to use the aggregate Principal Balance of Mortgage Loans purchased above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Servicer or Seller during the related Collection Period customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (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 the Mortgage Loan Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information contained in provided to the Remittance Report, Master Servicer by the Trustee Servicers) the Trust Administrator shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, each Servicer, the Credit Risk Manager and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24 or pursuant to the related Servicing Agreement;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to the distribution of principal on Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trust Administrator will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased Master Servicer, the Servicers, the Depositor and the Rating Agencies via the Trust Administrator’s internet website. The Trust Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Servicer or Seller during Trust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and Trust Administrator shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trust Administrator’s internet website, the Trust Administrator may require registration and the acceptance of a disclaimer. The Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Servicerdistribution 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. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trust Administrator from information provided by the Servicer and reported by the Trust Administrator 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. Ocwen hereby represents and warrants to the Depositor that this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of Ocwen.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Trust Administrator shall forward 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 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 Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee 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, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Fee paid;
(xviiixvii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Master Servicer, the Originator or the Seller during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Master Servicer (or an affiliate) during the related Collection Prepayment Period in connection with Section 3.16;
(xxv) the amount of the Credit Risk Manager Fee paid;
(xxvi) the 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 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 the 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. 95 The Trustee may fully rely upon and shall have no liability with respect to information with respect to the Mortgage Loans provided by the 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxiv) and (xviiixvii) 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 forward to the Residual Certificateholders 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 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 furnished to Residual Certificateholders Class R Certificateholder 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 (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection relted Due Period;
(vii) the aggregate Principal Balance of any 2nd lien Mortgage Loans;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viiiix) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) with respect to any Mortgage Loan that became an REO Property during Properties, as well as the preceding calendar month, the loan number of such Mortgage Loan, the unpaid aggregate principal balance of Mortgage Loans that were liquidated and the Principal Balance of such Mortgage Loan as of the date it became an REO Propertynet proceeds resulting therefrom;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 CertificatesDelinquency Percentage;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Class A Certificates, Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.24;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to whether the distribution of principal on Stepdown Date or a Trigger Event has occurred and the Realized Loss Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, the total cashflows received and the cumulative Realized Lossesgeneral sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, as a percentage of from the original Pool BalanceCap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxi) the Available Fundsrespective Pass-Through Rates applicable to each Class of Class A Certificates, 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 Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxii) payments, if any, made under the rate at which interest accrues for 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;
(xxiiixxv) the Liquidation Report for such Distribution Date;
(xxiv) amount on deposit in the aggregate Principal Balance of Mortgage Loans purchased by Pre-Funding Accounts and 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 LoanInterest Coverage Accounts; and
(xxvxxvi) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased and/or Subsequent Group II Mortgage Loans, as applicable, and 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 Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://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 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). 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 (or an affiliate) during and reported by the related Collection Period in connection with Section 3.16Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. 95 The Trustee may fully rely upon and shall have no liability By way of example, a Mortgage Loan would be delinquent with respect to information a Scheduled Payment due on a Due Date if such Scheduled Payment is not made by the close of business on the Mortgage Loan’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loans provided 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 the Servicerits safety and soundness regulators. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 30 to 59 days, (2) 60 to 91 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 DateDate and (D) REO Properties;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar monthPrepayment 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 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates and the Notional Amount, as applicable, Amount of each the Class of S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Mezzanine Certificates, the Class B-3 C Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;amount on deposit in the Pre-Funding Account, the Interest Coverage Account and the Reserve Fund; and
(xxiv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the related Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans purchased and 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 and the Rating Agencies via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on- demand service may be accessed by calling (301) 815-6610. The Trustee's internxx xxxxxxx xxxll initially be located at "www.ctslink.com". Assistance in usinx xxx xxxxxxx xr the Servicer or Seller during fax-on-demand service can be obtained by calling the related Collection Period Trustee's customer service desk at (301) 815-6600. Parties that are unaxxx xx xxx xxx above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 Residual 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 (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) 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, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred the Net WAC Rate Carryover Amount for each class of Class A Certificates and is continuingeach class of Mezzanine Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for each Class of Certificates for such Distribution DateStepdown Date or a Trigger Event is in effect;
(xxiii) the Liquidation Report for such Distribution Datetotal cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the aggregate Principal Balance respective Pass-Through Rates applicable to each Class of Mortgage Loans purchased by Class A and Mezzanine Certificates for such Distribution Date and the Servicer or Seller during Pass-Through Rate applicable to each Class of Class A Certificates and Mezzanine Certificates for the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; andimmediately succeeding Distribution Date;
(xxv) the aggregate Principal Balance of amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection applicable Record Date, Accrual Period in connection with Section 3.16and Determination Date for calculating distributions for such Distribution Date. 95 The Trustee may fully rely upon 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 “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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 “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 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 (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions tx xxx xxxxxxxxxions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and the amount of Compensating Interest paid by the Servicer;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and maturity, the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDate and number and aggregate Principal Balance of all Additional Group 3 Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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 Subordinated Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Subordinated Applied Realized Loss Amounts;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Fee paid;
(xviii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxvii) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Group 3 Pre-Funding Account that has not been used to purchase Additional Group 3 Mortgage Loans and that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Servicer, an Originator or the Seller during the related Collection Prepayment Period and indicating the Section section of this Agreement or the applicable Originator Mortgage Loan Purchase Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan; and;
(xxiv) the amount of the Credit Risk Manager Fee paid;
(xxv) the aggregate Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) Prepayment in full during the related Collection Period 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 related Originator with respect to each such Mortgage Loan;
(xxvi) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxvii) 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;
(xxviii) the amount and recipient of any Net Swap Payments and Swap Termination Payments;
(xxix) the date of such Distribution Date and the Determination Date for such Distribution Date;
(xxx) 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;
(xxxi) for each Class, the applicable Record Date and Interest Accrual Period; and
(xxxii) unless such information is otherwise set forth in connection with Section 3.16From 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. 95 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 determining whether a breach of a representation or warranty relating to the Mortgage Loans is material or whether a breach of a transaction covenant or representation or warranty is material for purposes of subclause (xxxii) above, the Trustee may consult with the Depositor and rely on the Depositor's determination of 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. The Trustee will also make available copies of the periodic reports the Trustee prepares and files with the Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through www.ctslink.com promptly (but no later than one Business Day) after txx Xxxxxxx xxx 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 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), (ii), (xvxiv) and (xviiixvi) 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 forward to the each Residual Certificateholders 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 furnished to each Residual Certificateholders Certificateholder by the Trustee pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this Agreement 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 and reported 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 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 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 this delinquency recognition policy is its current policy and is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ABFC 2006-Opt1 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Floating Rate Certificates, the Class B-3 X Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates, the Class X Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Datetotal 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 Basis Risk Cap Agreement);
(xx) whether a Trigger Event has occurred and is continuingthe respective Pass-Through Rates applicable to each Class of Floting Rate Certificates, the Class X Certificates and the cumulative Realized Losses, as a percentage Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Floating Rate Certificates for the original Pool Balanceimmediately succeeding Distribution Date;
(xxi) the Available Funds;amount of any Net Swap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxii) the rate at which interest accrues applicable Record Date, Accrual Period and any other applicable determination dates for each Class of Certificates calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Liquidation Report for such Distribution Date;
(xxiv) NIMS Insurer, the aggregate Principal Balance of Mortgage Loans purchased Swap Provider and the Rating Agencies via the Trustee’s internet website located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Servicer or Seller during Trust Administrator’s customer service desk at 1-866-846-4526. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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 “OTS Method”). The Servicer hereby represents and warrants to the Depositor that this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Offered Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Offered Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loandenials related); and
(xxv) the aggregate Principal Balance of amount on deposit in the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Reserve Fund. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 Within a reasonable period of time after the end of each Distribution Datecalendar year, the Trustee shall forward deliver to the Residual Certificateholders NIMS Insurer and each Person who at any time during the calendar year was a copy of 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 reports forwarded information provided pursuant to the Regular Certificateholders in respect of previous paragraph aggregated for such Distribution Date with calendar year or applicable portion thereof during which such other information as the Trustee deems necessary or appropriatePerson 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 Residual 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 (Option One Mortgage Loan Tr 2002-1 as-BCKD Cert Ser 2002-1)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance ReportReport and, with respect to subsections (xxxiv) and (xxxv) below, after consultation with the Depositor, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions tx xxx xxxxxxxxxions made on such Distribution Date:
(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 Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(iiiv) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iiiv) the Group 1 Interest Remittance Amount, the Group 2 Interest Remittance Amount, the Principal Remittance Amount, the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date and the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(ivvi) [reserved]the amount of the Servicing Fee paid to or retained by the Servicer with respect to each Loan Group during the related Collection Period;
(vvii) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and cumulative Nonrecoverable Advances;
(viviii) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(viiix) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viiix) for each Loan Group, the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) (a) 30 to 59 days past due on a contractual basisone payment, (b) 60 to 89 days past due on a contractual basistwo payments, (c) 90 three payments or more days past due on a contractual basismore, (dB) as to which foreclosure proceedings have been commenced in foreclosure, and (eC) in bankruptcy bankruptcy, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(ixxi) 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxii) 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 of business of the last day of the preceding Collection Period;
(xixiii) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xiixiv) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of 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;
(xvxvi) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate and any related Interest Carry Forward Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover AmountsDate;
(xvixvii) 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 3.23;
(xviixviii) the amount of the Trustee Fee paidpaid to the Trustee with respect to each Loan Group for such Distribution Date;
(xviiixix) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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-1 Reserve Account, the Group 2-A Reserve Account and Class M Reserve Account on such Distribution Date;
(xixxx) The balance of the Class A-1 Reserve Account, the Group 2-A Reserve Account and Class M Reserve Account on such Distribution Date, before and after giving effect to the distributions;
(xxi) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxxii) whether a Trigger Event has occurred and is continuingcontinuing (including the calculation demonstrating the existence of the Trigger Event), and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues Certificate Interest Rate for each Class of Certificates for such Distribution Date;
(xxiiixxv) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxvi) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Servicer, the Originator or the Seller during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxvii) the amount of the Credit Risk Manager Fee paid to the Credit Risk Manager with respect to each Loan Group for such Distribution Date;
(xxviii) the 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 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;
(xxix) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxx) for each Loan Group, the number and aggregate Principal Balance of Mortgage Loans, the Weighted Average Net Mortgage Rate, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25% and the weighted average remaining term to maturity of the Mortgage Loans, each as of the close of business on the last day of the related Collection Period (after giving effect to Principal Prepayments in the related Prepayment Period);
(xxxi) any expenses or indemnification amounts paid by the Trust (other than the Servicing Fee, the Trustee Fee or the Credit Risk Manager Fee), the specific purpose of each payment and the parties to whom such payments were made;
(xxxii) the Class A-1 Yield Maintenance Agreement Payment, Group 2-A Yield Maintenance Agreement Payment and the Class M Yield Maintenance Agreement Payment, if any, for such Distribution Date;
(xxxiii) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xxxiv) unless such information is set forth in the Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans and any material breach of covenants hereunder; and
(xxvxxxv) the number and aggregate Principal Balance of the any Mortgage Loans repurchased by the Servicer (Originator, the Seller or an affiliate) during the related Collection Period in connection with Section 3.16Depositor from the Trust since the previous Distribution Date. 95 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 (iiii), (iv) 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.
(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 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), (ii), (xvxvi) and (xviiixix) 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 forward to each holder of the Residual Certificateholders Class R and Class R-X Certificates 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 furnished to Residual Certificateholders each holder of the Class R and Class R-X Certificates by the Trustee pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported 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 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 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 this delinquency recognition policy is its current policy and is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Credit Risk Manager, the Servicer, the Certificate Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A 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, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 A Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuingthe Net WAC Rate Carryover Amount for each Class of Class A Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for 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 and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A 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;
(xxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxiiixxix) the Liquidation Report for such Distribution Date;
(xxiv) amount of any payments/draws under 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 LoanPolicy; and
(xxvxxx) the aggregate Principal Balance amount of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. 95 The Trustee may fully rely upon 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, the Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year. In addition, the Trustee shall furnish to each Person who at will report on Form 10-D any time during material breaches of representations and warranties regarding 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), (ii), (xv) and (xviii) 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 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 substantially comparable information have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be prepared and furnished determined by the Trustee to Certificateholders pursuant to any requirements of from information provided by 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 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 Servicer and furnished to Residual Certificateholders reported by the Trustee pursuant based on the 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 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 requirements of the Code as from time to time in forcedelinquency 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Overcollateralized Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Adjustable-Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Adjustable-Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Adjustable-Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Adjustable-Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance amount of Mortgage Loans purchased by the Servicer any Net Swap Payments or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; andSwap Termination Payments;
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “htxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (800) 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (First Franklin Mortgage Loan Trust 2005-Ffh4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee Trust Administrator shall (i) prepare and forward by mail make available 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 108 Regular Certificates, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer and the Master Servicer with respect to the related Due Period and such other customary information as the Trust Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;[reserved]
(x) 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 Collection Prepayment Period;; 109
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, 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 respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.27 or the Master Servicer pursuant to Section 4.19;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each Class of Certificates Funds for such Distribution Date;
(xxiiixxii) the Liquidation Report 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) 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
(xxvxxiii) payments, if any, made under the aggregate Principal Balance of Cap Contract. The Trust Administrator will make such statement (and, at its option, any additional files containing the Mortgage Loans repurchased same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trust Administrator's internet website. The Trust Administrator's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Servicer Trust Administrator's customer service desk at (or an affiliate301) during 815- 6600. Parties that are unable to use the related Collection Period in connection with Section 3.16above 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. 95 The Trustee may fully rely upon and Trust Administrator shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trust Administrator's internet website, the Trust Administrator may require registration and the acceptance of a disclaimer. The Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Trust Administrator shall forward 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 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 111 such Person was a Residual Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee 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 2004-B)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Credit Risk Manager, the Servicer, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage, the Cumulative Loss Percentage and the Realized Loss Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Floating Rate Certificates, the Class B-3 X Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates, the Class X Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to each Class of Floating Rate Certificates, the distribution Class X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of principal on such Floating Rate Certificates and Class X Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website located at www.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee’s customer service desk at 1-866-846-4526. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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 “OTS Method”). The Servicer hereby represents and warrants to the Depositor that this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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-Opt5)
Statements. (a) On each Distribution Two Business Days prior to the applicable Auction Payment Date, the Securities Administrator shall make available to the Auction Administrator, and concurrently with each payment to Noteholders, the Securities Administrator shall make available to each Noteholder, the Seller, the Initial Seller, the Master Servicer, the Indenture Trustee, the Yield Maintenance Counterparty and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Mortgage Loan information contained in Master Servicer and the Remittance Report, Servicers (the Trustee shall (i"Payment Date Statement") prepare and 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, a statement as to the distributions payments to be made or made, as applicable, on such Distribution Payment Date. Information in the Payment Date Statement relating to or based on amounts to be received under the Yield Maintenance Agreements shall be based on information provided by the Yield Maintenance Counterparty regarding any Yield Maintenance Amounts required to be paid by the Yield Maintenance Counterparty for the related Payment Date pursuant to the Yield Maintenance Agreements. The Payment Date Statement shall include the following:
(i) the amount of the distribution payment made on such Distribution Payment Date to the Holders of each Class of Certificates Notes allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution payment made on such Distribution Payment Date to the Holders of each Class of Certificates Notes allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Mortgage Loan Group for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution following Payment Date;
(iv) [reserved];
(v) the aggregate amount of Advances for the related Collection Due Period and the amount of unreimbursed Advances;
(v) each Mortgage Loan Group Balance and related Available Funds Cap for each Mortgage Loan Group at the Close of Business at the end of the related Due Period;
(vi) the Pool aggregate Principal Balance of the 1-Year CMT Indexed Mortgage Loans and 3-Year CMT Indexed Mortgage Loans at the close Close of business Business at the end of the related Collection Due Period;
(vii) the aggregate Principal Balance of the 6-Month LIBOR Indexed Mortgage Loans, 1-Month LIBOR Indexed Mortgage Loans and 1-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the aggregate Principal Balance of the 1-Year MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the amount of the Master Servicing Fees paid to or retained by the Master Servicer;
(x) the aggregate amount of Servicer Fees paid to or retained by the Servicers;
(xi) to the extent such amounts are paid out of any Trust Account, the amount of fees, expenses or indemnification amounts paid by the Issuer with an identification of the general purpose of such amounts and the party receiving such amounts;
(xii) for each Mortgage Loan Group, the number, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Interest Rate of the related Mortgage Loans as of the related Due Date;
(viiixiii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans Loans, in the aggregate and for each Mortgage Loan Group, using the "MBA" method (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiv) the rolling six-month preceding such Distribution delinquency rate for that Payment Date;
(ixxv) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 in each Mortgage Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixvi) the aggregate amount of Principal Prepayments and Prepayment Penalty Amounts with respect to each Mortgage Loan Group made during the related Prepayment Period;
(xii) 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;
(xiiixvii) the aggregate amount of Realized Losses for each Mortgage Loan Group and Subsequent Recoveries incurred during the related Collection Due Period and the cumulative amount of Realized LossesLosses and Subsequent Recoveries as of such Payment Date;
(xivxviii) the Certificate cumulative amount of Realized Losses for each Mortgage Loan Group;
(xix) the Realized Losses and Subsequent Recoveries, if any, allocated to each Class of Notes on the related Payment Date;
(xx) the Class Principal Balance or Notional Amount, as applicable, Amount of each Class of Certificates, Notes after giving effect to the distributionsany distributions made thereon, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Payment Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxxi) the Accrued Certificate Current Interest in respect of each Class of Offered CertificatesNotes, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, Payment Date and the respective portions thereof, if any, remaining unpaid following the distributions payments made in respect of such Certificates Notes on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Payment Date, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(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 distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the 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 amount of Certificates for such Distribution DateDeferred Interest and Net Deferred Interest with respect to the Group 1 Notes;
(xxiii) the Liquidation Report for such Distribution DateAvailable Funds with respect to each Mortgage Loan Group;
(xxiv) the Note Interest Rate for each Class of Notes for such Payment Date and the level of One-Month LIBOR or One-Year LIBOR, as applicable, used to determine the applicable Note Interest Rate;
(xxv) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer Initial Seller, the Seller or Seller TMI during the related Collection Period Due Period, and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxvi) the amount of any Principal Deficiency Amounts or accrued interest amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(A) the amounts paid to each Class of Offered Notes from Yield Maintenance Amounts received from the Yield Maintenance Counterparty for such period, expressed as a dollar amount and (B) the Yield Maintenance Amount and applicable Strike Rate for each Yield Maintenance Agreement for such Payment Date;
(xxviii) on the applicable Auction Payment Date, the Par Price (as defined in the Auction Administration Agreement) for each Class of Auction Notes as reported to the Master Servicer by the Securities Administrator;
(xxix) the total number of Mortgage Loans in the aggregate and the aggregate Scheduled Principal Balance in the aggregate and separately for the Group 1 Mortgage Loans, the Group 2 Mortgage Loans, the Group 3 Mortgage Loans and the Group 4 Mortgage Loans, in each case at the close of business at the end of the related Due Period;
(xxx) the amount, if any, remaining on deposit in the Reserve Fund; and
(xxvxxxi) the aggregate Principal Balance of amount, if any, remaining on deposit in the Mortgage Loans repurchased Group 3 Final Maturity Reserve Account. The Securities Administrator will make the Payment Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders and the other parties to this Agreement via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the Servicer (or an affiliate) during Securities Administrator's customer service desk at 1-866-846-4526. Parties that are unable to use the related Collection Period in connection with Section 3.16above 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. 95 The Trustee may fully rely upon and Securities Administrator shall have no liability with respect the right to information with respect change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by parties, and the ServicerSecurities Administrator shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular CertificateNoteholder, 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 (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a CertificateholderNoteholder and such other customary information which a Securityholder reasonably requests to prepare its tax returns. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee Securities Administrator to Certificateholders Securityholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Payment Date, the Trustee Securities Administrator shall forward supply an electronic tape to the Residual Certificateholders Bloomberg Financial Markets, Inc. in a copy of the reports forwarded format acceptable to the Regular Certificateholders Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions 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 a format acceptable to have been satisfied to the extent that substantially comparable information shall be prepared Loan Performance and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceIntex Solutions on a monthly basis.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available on its website at www.usbank.com/abs xxx.xxxxxx.xxx/xxx for access by exxx Xxxxxx xx xxx each Holder of the Regular Certificates, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved];
(v) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(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 distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the 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 of 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 such Mortgage Loan; and
(xxv) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviiixx) 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 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 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 furnished to Residual 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 (Citigroup Mortgage Loan Trust Series 2004-Cb3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;; 111
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B-1 Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B-1 Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B-1 Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;; 112
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Group I Pre-Funding Account and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanGroup II Pre-Funding Account; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in each of the Pre-Funding Accounts that have not been used to purchase Subsequent Mortgage Loans repurchased by the Servicer (or an affiliate) during and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (800) 735-7777. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.. 113
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (Financial Asset Sec Corp Meritage Mortgage Loan Trust 2004 1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Section 4.04(a), the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution DateDate which shall include the following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B-1 Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B-1 Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class B-1 Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 of Mezzanine Certificates for the immediately succeeding Distribution Date;; 101
(xxiii) the Liquidation Report for 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;); and
(xxiv) payments, if any, made under the aggregate Principal Balance of Mortgage Loans purchased 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 and the Rating Agencies via the Trustee's internet website initially to be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Financial Asset Sec Corp Asset Backed Cert Ser 2003 Ffh1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) 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, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred the Net WAC Rate Carryover Amount for each class of Class A Certificates and is continuingeach class of Mezzanine Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for each Class of Certificates for such Distribution DateStepdown Date or a Trigger Event is in effect;
(xxiii) the Liquidation Report for such Distribution Datetotal cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the aggregate Principal Balance respective Pass-Through Rates applicable to each Class of Mortgage Loans purchased by Class A Certificates, each Class of Mezzanine Certificates and the Servicer or Seller during Class C Certificates for such Distribution Date and the related Collection Period Pass-Through Rate applicable to each Class of Class A Certificates and indicating each class of Mezzanine Certificates for the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; andimmediately succeeding Distribution Date;
(xxv) the aggregate Principal Balance of amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection applicable Record Date, Accrual Period in connection with Section 3.16and Determination Date for calculating distributions for such Distribution Date. 95 The Trustee may fully rely upon 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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 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 (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward make available by mail electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates Certificates, the Trustee, the Master Servicer, the NIMS Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool, for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the 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 balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) delinquent 90 or more days past due on a contractual basisin 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, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixx) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxi) 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 Collection Prepayment Period;
(xixii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due and the Notional Amount of the Class C Certificates, after giving effect to allocations of Realized Losses or Applied Realized Loss Amounts;
the distributions made on such Distribution Date; (xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C 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 amount of any LIBOR Carryover Amounts;
(xvi) the aggregate amount of any Prepayment Unpaid Interest Shortfalls for such Distribution DateShortfall Amount, if any, with respect to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date Class A Certificates and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the 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 of Mezzanine 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 such Mortgage Loan; and
(xxv) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Long Beach Securities Corp Asset Back Certs Ser 2003-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution DateDate which shall include the following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period and the amounts thereof allocable to cumulative amount of Realized Losses since the Class N Certificates Closing Date and the Class X Certificatesaggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 the Class B Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in 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 LoanPre-Funding Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website initially to be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 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 Residual Certificateholders by the Trustee pursuant to any requirements 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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward make available by mail electronic medium 110 to each Holder of the Regular Certificates Certificates, the Master Servicer, the Guarantor, the NIMS Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable 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 Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the 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 balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) delinquent 90 or more days past due on a contractual basisin 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, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixx) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxi) 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 Collection Prepayment Period;
(xixii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due and the Notional Amount of the Class S Certificates and the Class C Certificates, after giving effect to allocations of Realized Losses or Applied Realized Loss Amountsthe distributions made on such Distribution Date;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 S Certificates, the Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates and the 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 amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) 3.24, and the aggregate amount of the Trustee Fee paidany Relief Act Interest Shortfalls for such Distribution Date;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency the Net WAC Rate Carryover Amount for the Class A-1V Certificates, Class A-2 Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after giving effect to the distribution of principal reimbursements therefor on such Distribution Date;
(xx) whether [reserved];
(xxi) when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues respective Pass-Through Rates applicable to the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for each such Distribution Date and the Pass-Through Rate applicable to the Class of A Certificates and 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;
(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 such Mortgage Loan; and.
(xxv) such other information as the aggregate Principal Balance of the Mortgage Loans repurchased Guarantor may reasonably request in such format as reasonably requested by the Servicer (or an affiliate) during Guarantor and any other information that is required by the related Collection Period in connection with Section 3.16Code and regulations thereunder to be made available to Certificateholders. 95 The Trustee may fully rely upon 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 Master Servicer, the Guarantor, the NIMS Insurer and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "http:\\xxx-xxxx.xxx.xxxxxxxx-xxxx.xxx/xxxx. Assistance in using the website can be obtained by calling the Trustee's customer service desk at 0-000-000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 Residual 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 Bloomberg.
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, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Seller, the Master Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information obtained from the Mortgage Loan information contained in Servicer pursuant to the provision by the Servicer of its Remittance Report, Report (the Trustee shall (i“Distribution Date Statement”) prepare and 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, a statement as to the distributions to be made or made, as applicable, on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Group for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Due Period (without taking into account any reduction thereof in respect of Compensating Interest) and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of the related Determination Date;
(vii) the Loan Group Balance and related Net WAC for each Loan Group at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) the aggregate Principal Balance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [RESERVED];
(xi) for each Loan Group the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans in the aggregate and for each Loan Group (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month preceding such Distribution Datemonth;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxiii) the book value of any REO Property as of the close Close of business 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixiv) the aggregate amount of Principal Prepayments and the Net Realized Losses for each Class of Certificates on such Distribution Date, with respect to each Loan Group made during the related Prepayment Period;
(xii) 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;
(xiiixv) the aggregate amount of Realized Losses incurred during the related Collection Due Period and the cumulative amount of Realized Losses;
(xivxvi) the Class Certificate Principal Balance or Class Certificate Notional AmountAmount of each Class of Certificates and the Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, as applicable, on such Distribution Date;
(xvii) the Interest Distributable Amount in respect 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution DateShortfalls, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date Unpaid Interest Shortfall Amount, and the amounts remaining after giving effect to distributions thereof on Interest Shortfall for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the Available Funds with respect to the distribution of principal on such Distribution Dateeach Loan Group;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or Seller during the related Collection Period Due Period, and indicating the relevant Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxii) the amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) the amount of any Basis Risk Shortfall, if any, and the related accrued interest thereon, with respect to the LIBOR Certificates;
(xxiv) current Recoveries allocable to each Loan Group; and
(xxv) cumulative Recoveries allocable to each Loan Group. The Securities Administrator will make the aggregate Principal Balance Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. The Securities Administrator’s obligations pursuant to this Section 5.04 are limited to the extent of its receipt of all necessary information from the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Servicer. 95 The Trustee and the Securities Administrator 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward 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.
(d) On or before January 31st of each year, the Servicer, on behalf of the Trust, shall provide the Securities Administrator with written notice listing all Distribution Date statements with respect to Distribution Dates occurring in the prior calendar year that were included in a Form 8-K filing pursuant to Section 3.28, provided however, that if no Form 10-K is required to be filed for such prior calendar year, no written notice shall be required. No later than March 15th of each year in which such written notice is provided by the Servicer to the Residual Certificateholders Securities Administrator, the Securities Administrator shall sign a copy certification (in the form attached hereto as Exhibit P), for the benefit of the reports forwarded to Person(s) signing the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation Form 10-K Certification, regarding certain aspects of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceForm 10-K Certification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Provident Funding Mortgage Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;
(xxiiiA) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance 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
(xxvii) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date; and
(xxviii) payments, if any, made under the Cap Contracts. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (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 Mortgage Loan information contained in the Remittance ReportServicers, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicers and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool aggregate Stated Principal Balance of the Mortgage Loans at the close of business at the end of the last Business Day of the calendar month preceding the related Collection PeriodDistribution Date;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) delinquent 90 or more days past due on a contractual basisin each case, as of the last day of the preceding calendar month, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxiii) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due and the Notional Amount of the Class C Certificates, after giving effect to allocations of Realized Losses or Applied Realized Loss Amountsthe distributions made on such Distribution Date;
(xvxiv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates and the 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.23, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the amount of Net WAC Rate Carryover Amount for the Trustee Fee paid;
(xviii) Class A Certificates and the LIBOR Carryover Amounts distributed on Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) when the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;Available Funds; and
(xx) whether a Trigger Event has occurred and is continuingthe respective Pass-Through Rates applicable to the Class A Certificates, the Mezzanine Certificates and the 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 of C Certificates for such Distribution Date;
(xxiii) Date and the Liquidation Report Pass-Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for such the immediately succeeding Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased Servicers and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "http:\\www-apps.gis.deutsche- bxxx.xxx/xxxx. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at 1-800- 735-7777. Parties that are unable to use the related Collection Period above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 Residual 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 Bloomberg.
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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar monthPrepayment 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 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates and the Notional Amount, as applicable, Amount of each the Class of S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Mezzanine Certificates, the Class B-3 C Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date[reserved];
(xxiv) [reserved];
(xxv) [reserved];
(xxvi) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Account, the related Collection Period Interest Coverage Account and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanReserve Fund; and
(xxvxxvii) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the related Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans repurchased by and that is being distributed to the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. 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 and the Rating Agencies via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on- demand service may fully rely upon be accessed by calling (000) 000-0000. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 Residual 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 (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Reportprovided to it by each Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicers and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances and/or Monthly Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24 or by Countrywide Servicing pursuant to Section 2.04 of Exhibit B;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues respective Pass-Through Rates applicable to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date; and
(xxiii) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates for from payments made under the Cap Contract. The Trustee will make such Distribution Date;
statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Liquidation Report for such Distribution Date;
Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (xxiv000) 000-0000. Parties that are unable to use the aggregate Principal Balance of Mortgage Loans purchased above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Servicer or Seller during the related Collection Period customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 2005-B)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesxxx.xxxxxxx.xxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of Servicing Fees received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (db) as to which foreclosure proceedings have been commenced and (ec) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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 AmountsAmount, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss AmountsAmount;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.233.21;
(xvi) 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;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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 Cap Carryover Reserve Account on such Distribution Date;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Originator or Seller the Sponsor during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxiv) [Reserved];
(xxv) the aggregate Principal Balance amount of the Credit Risk Manager Fee paid;
(xxvi) the Mortgage Loans repurchased by Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the Servicer (or an affiliate) subject of a Principal Prepayment in full during the related Collection Period in connection 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 Section 3.16respect to each such Mortgage Loan;
(xxvii) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxviii) the amount of any Net Swap Payments or Swap Termination Payments; and
(xxix) the amount of Prepayment Interest Excess retained by the Servicer for the related Prepayment Period. 95 For purposes of preparing the Distribution Date Statements, the Trustee shall determine and report delinquencies based on the so-called "OTS" methodology irrespective of the method of determining delinquencies utilized by the Servicer. 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 this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer. 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), (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.
(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 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), (ii), (xv) and (xviiixiv) 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 forward make available to the Residual Certificateholders Class R Certificateholder a copy of the reports forwarded 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 that substantially comparable information shall be prepared and furnished to Residual Certificateholders Class R Certificateholder 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 (Asset Backed Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection relted Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Class A Certificates, Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Class A and Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Datetotal cashflows received and the general sources thereof;
(xx) whether a Trigger Event has occurred and is continuingthe respective Pass-Through Rates applicable to each Class of Class A Certificates, Mezzanine Certificates and the cumulative Realized Losses, as a percentage Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A and Mezzanine Certificates for the original Pool Balanceimmediately succeeding Distribution Date;
(xxi) the Available Funds;amount of any Net Swap Payments or Swap Termination Payments; and
(xxii) the rate at which interest accrues applicable Record Dates, Accrual Periods and Determination Dates for each Class of Certificates calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Liquidation Report for such Distribution Date;
NIMS Insurer, the Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxxxx://xxx.xxx.xx.xxx/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (xxiv000) 000-0000. Parties that are unable to use the aggregate Principal Balance of Mortgage Loans purchased above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Servicer or Seller during the related Collection Period customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined and reported 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 this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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-Opt4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, reduction of each principal balance to zero;
(xi) 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 Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Prepayment Charges collected (including amounts deposited Principal Prepayments in connection with full, the full or partial waiver aggregate amount of such Prepayment Charges pursuant to Section 3.01) Principal Prepayments in part and Net Liquidation Proceeds made during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X CertificatesPrepayment Period;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.26;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency 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 giving effect to the distribution of principal reimbursements therefor on such Distribution Date;
(xx) whether a Trigger Event has occurred the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and is continuing, and (b) due from the cumulative Realized Losses, as a percentage of the original Pool BalanceSwap Provider;
(xxi) when the Stepdown Date or a Trigger Event is in effect;
(xxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for 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;
(xxiii) Date and the Liquidation Report Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Interest Coverage Account;
(xxv) [reserved];
(xxvi) the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loanamount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvxxvii) 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[reserved]. 95 The Trustee may fully rely upon 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 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 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 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 Residual Certificateholders by the Trustee pursuant to any requirements 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;[reserved]
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;; and
(xxiii) the Liquidation Report amount of payments, if any, made under the Cap Contract, received by the Trustee and deposited into the Net WAC Rate Carryover Reserve Account for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (800) 735-7777. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Financial Asset Securities Corp Fremont Loan Tr 2003-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicers pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicers, the Credit Risk Manager and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution DateDate which shall include the following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period and the amounts thereof allocable to cumulative amount of Realized Losses since the Class N Certificates Closing Date and the Class X Certificatesaggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of the Certificates (other than the Residual Certificates), after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Fixed Rate Certificates and Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Fixed Rate Certificates, the Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Fixed Rate Certificates and Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the amount of Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Fixed Rate Certificates and Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Fixed Rate Certificates and Floating Rate Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, received under the Liquidation Report 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 Credit Risk Manager and the Rating Agencies via the Trustee’s internet website located at “hxxx://xxx.xxxxxxxx.xxx/xxx.” Assistance in using the website can be obtained by calling the Trustee’s customer service desk at 800-000-0000. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by written notice to the Trustee at its Corporate Trust Office. The Trustee’s responsibility for such Distribution Date;
(xxiv) disbursing the aggregate Principal Balance above information to the Certificateholders is limited to the availability, timeliness and accuracy of Mortgage Loans purchased by the information derived from the Servicers. The foregoing information shall be reported to the Trustee each month on or before 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
(xxv) 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. 95 The Trustee may fully rely upon and shall have no liability with respect to information with respect to the Mortgage Loans provided by the ServicerRemittance Date. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 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 Residual 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 2005-Ctx1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Section 4.04(a), the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution DateDate which shall include the following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Group II Mortgage Loans added during the related Prepayment Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and 105 REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;occurred; 106
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) the Liquidation Report for 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);
(xxiv) payments, if any, made under 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; andCap Contract;
(xxv) the aggregate Principal Balance of amount on deposit in the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16. 95 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) 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 CutGroup II Pre-off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.Funding Account; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Secs Corp Asset Backed Cert Sers 2003 Ff5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to the Mortgage Loan Trust Administrator by the Master Servicer (which in turn shall be based on information contained in provided to the Remittance ReportMaster Servicer by the Servicer), the Trustee Trust Administrator shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Swap Provider, the Credit Risk Manager, the Servicer, the Certificate Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A 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, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 A Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuingthe Net WAC Rate Carryover Amount for each Class of Class A Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Fundsamount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the rate at which interest accrues for 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 and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A 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;
(xxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxiiixxix) the Liquidation Report for such Distribution Date;
(xxiv) amount of any payments/draws under 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 LoanPolicy; and
(xxvxxx) the aggregate Principal Balance amount of any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. The Trust Administrator will make such statement (and, at its option, any additional files containing the Mortgage Loans repurchased same information in an alternative format) available each month to Certificateholders, the Certificate Insurer, the Swap Provider, the Credit Risk Manager, the Master Servicer, the Servicer, the Depositor and the Rating Agencies via the Trust Administrator’s internet website. The Trust Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Servicer Trust Administrator’s customer service desk at (or an affiliate000) during 000-0000. Parties that are unable to use the related Collection Period in connection with Section 3.16above 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. 95 The Trustee may fully rely upon and Trust Administrator shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trust Administrator’s internet website, the Trust Administrator may require registration and the acceptance of a disclaimer. The Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Servicerdistribution 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 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 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 Trust Administrator from information provided by the Servicer and reported by the Trust Administrator based on the “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 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 “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 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 (ii), (xv) and (xviiiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Trust Administrator shall forward 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 Trustee 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 Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee 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, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Master Servicer, the Rating Agencies and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Certificate Insurer, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment Charges;
(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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance and the Pool Balance of MI Loans and Non-MI Loans, each at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage MI Loans and Non-MI Loans, respectively, as of the related Due Determination Date;
(viii) the total number and aggregate unpaid Principal Balance principal balance of the Mortgage Loans and the MI Loans and Non-MI Loans, respectively, that were (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (a1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Collection PeriodPrepayment Period and the total number and cumulative principal balance of REO Properties that were MI Loans and Non-MI Loans respectively;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Period Prepayment Period, the cumulative amount of Realized Losses and the amounts thereof allocable to the Class N Certificates aggregate amount of Realized Losses incurred on MI Loans and the Class X CertificatesNon-MI Loans respectively;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection Period and twelve months preceding such Distribution Date (or such fewer number of calendar months which have occurred since the cumulative amount of Realized LossesCut-off Date);
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or of the Class A Certificates and the Notional Amount, as applicable, Amount of each the Class of S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, Distributable Amount and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such the Class A Certificates and the Class S Certificates on such Distribution Date and the amount of any LIBOR Carryover AmountsDate;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.26;
(xviii) the LIBOR aggregate Premium Amount to be paid to the Certificate Insurer;
(xix) the Net WAC Rate;
(xx) the Net WAC Rate Carryover Amounts distributed on Amount, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xixxxi) any Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xxxxii) whether a Trigger Event has occurred and is continuing, the Step Up Cumulative Loss Test and/or Step Up Rolling Loss Test have been met and the cumulative Realized Lossesrealized losses, as a percentage of the original Pool Balance;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues Pass-Through Rate for each the Class of A Certificates for such Distribution Date;
(xxiiixxv) the Liquidation Report for such Distribution Date[reserved];
(xxivxxvi) the aggregate Principal Balance of the Mortgage Loans, and the MI Loans and Non-MI Loans, respectively, purchased by the Servicer Master Servicer, Originator or Seller Sponsor during the related Collection Prepayment Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxvii) the number of delinquent Mortgage Loans, and MI Loans and Non-MI Loans, respectively, sold during the preceding Prepayment Period, the aggregate outstanding principal balance of such MI Loans and Non-MI Loans and the aggregate sale price;
(xxviii) the amount on deposit in the Reserve Account;
(xxix) the amount of the Reserve Account Addition;
(xxx) amounts received under the Cap Agreements; and
(xxvxxxi) claims filed, claims made, claims rejected or reduced under the aggregate Principal Balance MI Policy in the six month periods ending at the end of the preceding month, the second preceding month and the third preceding month, by dollar amount, as a percentage of the Original Pool Balance, and as a percentage of the total number of Mortgage Loans repurchased Loans.
(xxxii) dollar amount of claims paid under the MI Policy and dollar amount of claims rejected or reduced under the MI Policy in the prior twelve months divided by the Servicer (or an affiliate) during balance of the related Collection Period in connection with Section 3.16. 95 MI Loans at the beginning of such twelve month period; and The Trustee may fully rely upon 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 Rating Agencies and the Certificate Insurer via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usinx xxx xxxxxxx xan be obtained by calling the Trustee's customer service desk at (301) 815-6600. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Trustee hereby agrees to disclose the Premium Amount to any Person upon request.
(f) If and when the aggregate principal amount of Realized Losses on the MI Loans is equal to or greater than $5,289,733.14, the Trustee shall give notice in writing of such fact to the Sponsor, the Master Servicer, the MI Insurer and the Certificate Insurer no later than 5 days after the occurrence after such event.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Section 4.04(a), the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;; and
(xxiii) the Liquidation Report for 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;
). The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (First Franklin Mortgage Loan Trust 2003-Ff2)
Statements. (a) On each Distribution Date, the Trustee shall make available to each Certificateholder, the Certificate Insurer, the Seller, and the Rating Agency, a statement based, as applicable, on loan-level information obtained from and the Mortgage Loan information contained in Servicer (the Remittance Report, the Trustee shall (i“Distribution Date Statement”) prepare and 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, a statement as to the distributions to be made or made, as applicable, on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Group for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Due Period, the Custodial Fee paid to the Custodian during the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Collateral Balance and the Loan Group Collateral Balance for such Distribution Date;
(vii) the Loan Group Balance and related Net WAC and applicable Net WAC Cap for each Loan Group at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the amount on deposit in 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);
(x) [reserved];
(xi) for each Loan Group, the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month preceding such Distribution Datemonth;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxiii) the book value of any REO Property as of the close Close of business 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixiv) the aggregate amount of Principal Prepayments with respect to each Loan Group made during the related Prepayment Period;
(xii) 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;
(xiiixv) the aggregate amount of Realized Losses incurred during the related Collection Due Period and the cumulative amount of Realized Losses and the amount of Realized Losses, if any, allocated to each Class of Certificates or Principal-Only Components;
(xivxvi) the Class Certificate Principal Balance or Class Certificate Notional AmountBalance, as applicable, of each Class of Certificates, Certificates and the Apportioned Principal Balances of the Subordinate Certificates after giving effect to the distributionsany distributions made thereon, 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;
(xvxvii) the Accrued Certificate Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(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 Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the Available Funds with respect to the distribution of principal on such Distribution Dateeach Loan Group;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or Seller during the related Collection Period Due Period, and indicating the relevant section of the Servicing Agreement, or the Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan; and;
(xxii) the amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(e)(i);
(xxiii) current Recoveries allocable to each Loan Group;
(xxiv) cumulative Recoveries allocable to each Loan Group;
(xxv) the aggregate amount of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(xxvi) for each Loan Group, the amount of Deferred Interest and Net Deferred Interest, if any, for such Loan Group;
(xxvii) payments made under the Yield Maintenance Agreements, if any;
(xxviii) the amount of Net Deferred Interest, if any, added to the Class Certificate Principal Balance or Component Principal Balance of the Mortgage Loans repurchased related Certificates and Principal-Only Components;
(xxix) the amount of the Certificate Insurer Reimbursement Amount, if any;
(xxx) the Deficiency Amount, if any, to be paid by the Servicer Certificate Insurer; and
(or an affiliatexxxi) during the related Collection Period number of mortgage loans and the aggregate principal balance of the mortgage loans that have negatively amortized in connection with Section 3.16each Loan Group. 95 The Trustee may fully rely upon will make the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the other parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “xxxxx://xxxxxxxxxxxxxxxxxxxxxx.xxxxxx.xxx.” Assistance in using the website can be obtained by calling the Trustee 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 no liability with respect the right to information with respect change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by parties, and the ServicerTrustee shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward supply an electronic tape to the Residual Certificateholders Bloomberg Financial Markets, Inc. in a copy of the reports forwarded format acceptable to the Regular Certificateholders Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions 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 a format acceptable to have been satisfied to the extent that substantially comparable information shall be prepared Loan Performance and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceIntex Solutions on a monthly basis.
Appears in 1 contract
Samples: Pooling Agreement (Greenwich Capital Acceptance Inc)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to the Mortgage Loan information contained in Trustee by the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Credit Risk Manager, the Servicer, the NIMS Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close of business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to the distribution of principal on Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased NIMS Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 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-Wmc1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, each Class of 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-3 B Certificates and the Class B-4 C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, each Class of 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 of Mezzanine Certificates and the Class B Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Accounts and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanInterest Coverage Accounts; and
(xxv) for the aggregate Principal Balance distributions occurring on the Distribution Dates in the month following the end of the Funding Period, the balance on deposit in each of the Pre-Funding Accounts (exclusive of any investment income therein) not used to purchase Subsequent Mortgage Loans repurchased by the Servicer (or an affiliate) during and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (Meritage Mortgage Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward make available by mail electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates Certificates, the Trustee, the Master Servicer, the NIMS Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool, for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the 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 balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) delinquent 90 or more days past due on a contractual basisin 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, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixx) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;; 112
(xxi) 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 Collection Prepayment Period;
(xixii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due and the Notional Amount of the Class S Certificates and the Class C Certificates, after giving effect to allocations of Realized Losses or Applied Realized Loss Amountsthe distributions made on such Distribution Date;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 S Certificates, the Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates and the 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 amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) 3.24, and the aggregate amount of the Trustee Fee paidany Relief Act Interest Shortfalls for such Distribution Date;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency the Net WAC Rate Carryover Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after giving effect to the distribution of principal reimbursements therefor on such Distribution Date;
(xx) the Trustee Fee on such Distribution Date;
(xxi) whether a Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date; 113
(xxiv) reserved;
(xxiiixxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the Liquidation Report amount on deposit in the Reserve Fund;
(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
(xxix) for such Distribution Date;
(xxiv) , the aggregate Principal Balance amount of Mortgage Loans purchased any payment made by the Servicer or Seller during Cap Provider under the related Collection Period 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 Master Servicer, the NIMS Insurer and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee's customer service desk at 0-000-000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward to the Holders of the Residual Certificateholders 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 Residual 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 Bloomberg.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Loan 2003-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance ReportMaster Servicer's Certificate, the Trustee Securities Administrator shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.ctslink.com, a statement as to (the distributions "Distribution Date Statement") ax xx xxx xxxxxxbutions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer during the prior calendar month and the amount of Compensating Interest paid by each Servicer;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related 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;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection PeriodPeriod 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;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related 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;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.233.25;
(xviixvi) the amount of the Trustee Fee paid;
(xviii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxvii) the Pre-Funding Release for each Loan Group for such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased or substituted by a Servicer, an Originator, the Servicer Seller or Seller a Purchasing Party during the related Collection Period and indicating Prepayment Period;
(xxiv) the Section amount of this Agreement requiring or allowing the purchase of each such Mortgage Loan; andCredit Risk Manager Fee paid;
(xxv) the aggregate Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Balance 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 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, LIBOR Determination Date 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 repurchased by or material breaches of transaction covenants or representations and warranties; and
(xxxii) for each Class, the Servicer (or an affiliate) during applicable Certificate Interest Rate, if applicable, and the related Collection Period in connection with Section 3.16applicable Pass-Through Rate, if different. 95 The Trustee Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the Mortgage Loans provided by the Master Servicer. In determining whether a breach of a representation or warranty relating to the Mortgage Loans is material or whether a breach of a transaction covenant or representation or warranty is material for purposes of subclause (xxxi) above, the Securities Administrator may consult with the Depositor and rely on the Depositor's determination of 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. The Securities Administrator will also make available copies of the periodic reports the Securities Administrator prepares and files with the Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through 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 Trustee Securities Administrator shall 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), (ii), (xvxiv) and (xviiixvi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward to the each Residual Certificateholders 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 Securities Administrator shall be deemed to have been satisfied to the 156 extent that substantially comparable information shall be prepared and furnished to each Residual Certificateholders Certificateholder by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this Agreement 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 and reported 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 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 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. Each Servicer hereby represents and warrants to the Depositor and the Master Servicer that this delinquency recognition policy is its current policy and is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, 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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) with respect to each Loan Group, the Pool Balance related group balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which 107 foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates and the Notional Amount, as applicable, Amount of each the Class of S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 S Certificates, the Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Class S Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;; 97
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Account, the Interest Coverage Account and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans repurchased by and that is being distributed to the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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. 98 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-2)
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Seller, the Master Servicer and the Rating Agency, a statement based, as applicable, on loan-level information obtained from the Mortgage Loan information contained in Master Servicer and the Remittance Report, Servicers (the Trustee shall (i“Distribution Date Statement”) prepare and 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, a statement as to the distributions to be made or made, as applicable, on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer during the related Due Period and such other customary information as the Securities Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Balance amount of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(vii) the aggregate Stated Principal Balance, Net WAC and LIBOR Net WAC Cap for the Mortgage Loans at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) payments made under the Yield Maintenance Agreement, if any;
(ix) the aggregate Principal Balance of the Six-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [reserved];
(xi) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans Loans, in the aggregate, (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month preceding such Distribution Datemonth;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxiii) the book value of any REO Property as of the close Close of business 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 Collection Due Period;
(xixiv) the aggregate amount of Principal Prepayments and Prepayment Penalty Amounts made during the related Prepayment Period;
(xii) 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;
(xiiixv) the aggregate amount of Realized Losses incurred during the related Collection Due Period and the cumulative amount of Realized Losses;
(xivxvi) the Class Certificate Principal Balance or Notional Amountof each Class of Certificates and the Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, as applicable, on such Distribution Date;
(xvii) the Interest Distributable Amount in respect 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(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 Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxiixx) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or Seller during the related Collection Period Due Period, and indicating the relevant section of the related Servicing Agreement, or the Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxii) [reserved];
(xxiii) current Recoveries; and
(xxv) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (HarborView Mortgage Loan Trust 2005-6)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer, the Certificate Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates and the Notional Amount, as applicable, Amount of each the Class of S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations the receipt of Realized Losses or Applied Realized Loss Amountsan Insured Principal Payment (in the case of the Class A Certificates);
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the Class B-3 S Certificates, each Class of Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(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 Credit Enhancement Percentage for such Distribution Date;
(xixxviii) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for 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;
(xxiiixxii) the Liquidation Report amount of any Insured Amount for such Distribution Date;
(xxiv) the aggregate , separately identifying any Insured Interest Payment and any Insured 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 LoanPayment; and
(xxv) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Financial Assets Sec Corp First Franklin Mort Ln Tr 2002 Ffa)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMs Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;; 91
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;; 92
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Account, the Interest Coverage Account and the Reserve Fund; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans repurchased by and that is being distributed to the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 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 (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Asset Backed Certificates Series 2001-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, each Class of 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-3 B Certificates and the Class B-4 C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, each Class of 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 of Mezzanine Certificates and the Class B Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in 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 LoanPre-Funding Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in each of the Pre-Funding Accounts that have not been used to purchase Subsequent Mortgage Loans repurchased by the Servicer (or an affiliate) during and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "hxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (800) 735-7777. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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.. 124
(c) On each Distribution Date, the Trustee shall forward 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. 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 Residual 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 (Meritage Mortgage Loan Trust 2004-2)
Statements. (a) On Concurrently with each Distribution Datepayment to Noteholders, the Securities Administrator shall make available to each Noteholder, the Seller, the 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 Mortgage Loan information contained in Master Servicer and the Remittance Report, Servicer (the Trustee shall (i"Payment Date Statement") prepare and 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, a statement as to the distributions payments to be made or made, as applicable, on such Distribution Payment Date:
(i) . The Payment Date Statement shall include the 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 holders of the Holders of each Class of Certificates Notes (by Class) allocable to principal or reduction of Notional Amountprincipal, separately identified;
identifying (ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved];
(vA) the aggregate amount of Advances for the related Collection Period;
any Principal Prepayments included therein and (viB) the Pool Balance at aggregate of all Monthly Payments of principal included therein; the close amount of business at the end such distribution to holders of the related Collection Period;
Notes (viiby Class) allocable to interest; the number, weighted average remaining term Class Principal Balance of the Notes before and after giving effect to maturity the distribution of principal and weighted average Mortgage Interest Rate allocation of Realized Losses on such Payment Date; the number and Scheduled Principal Balance of all the Mortgage Loans as for the following Payment Date; the Note Interest Rate for each class of Notes for such Payment Date; the related Due Date;
aggregate amount of Advances included in the payments on the Payment Date (viii) including the general purpose of such Advances); the number and aggregate unpaid Scheduled Principal Balance of any Mortgage Loans (aA) 30 to 59 days past due on a contractual basisthat were delinquent (exclusive of Mortgage Loans in foreclosure) using the "OTS" method (1) one scheduled payment, (b2) 60 to 89 days past due on a contractual basis, two scheduled payments and (c3) 90 or more days past due on a contractual basis, three scheduled payments and (dB) as to which foreclosure proceedings have been commenced commenced, and (e) in bankruptcy as of loss information for the close of business on the last day of the calendar month preceding such Distribution Date;
(ix) period; with respect to any Mortgage Loan that became an REO Property was liquidated during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and the Scheduled Principal Balance of of, and Realized Loss on, such Mortgage Loan as of the date it became an REO Property;
(x) the book value of any REO Property as end of the close of business on the last Business Day of the calendar month preceding the Distribution Date, and, cumulatively, related Prepayment Period; the total number and cumulative principal balance Principal Balance of all any REO Properties included in the Loan Groups as of the close end of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period; the Senior Note Available Funds Shortfalls for the Offered Notes, if any and the amount on deposit in the Class A-X Reserve Fund; the cumulative Realized Losses for the Loan Groups through the end of the preceding month;
(xiia) the 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, (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 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 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.23;
(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 distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage portion of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each Class of 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 such Mortgage Loan; and
(xxv) the aggregate Scheduled Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) in each Loan Group forgiven during the related Collection Due Period in connection with Section 3.16. 95 The Trustee may fully rely upon and shall have no liability with respect to information with respect to aggregate of the portion of the Scheduled Principal Balance of the Mortgage Loans provided 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 modification; 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 Securities Administrator will make the Payment Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders and the other parties to this Agreement via the Securities Administrator's internet website. The Securities Administrator's internet website shall initially be located at "xxx.xxxxxxx.xxx." Assistance in using the website can be obtained by calling the ServicerSecurities 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 Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular CertificateNoteholder, 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 (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a CertificateholderNoteholder and such other customary information which a Securityholder reasonably requests to prepare its tax returns. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee Securities Administrator to Certificateholders Securityholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Payment Date, the Trustee Securities Administrator shall forward 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 Residual Certificateholders above, the Master Servicer shall provide a copy of monthly loan level data file, or the reports forwarded Master Servicer shall make available on the Master Servicer's internet website, a monthly loan level data file (based solely on information provided by the Servicer) containing data provided to the Regular Certificateholders Master Servicer by the Servicer, available to those who are permitted to access the website, including the Rating Agencies. The file shall contain the fields referenced in respect of such Distribution Date with such other Exhibit L. If the Servicer is no longer going to make that information as the Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied available to the extent that substantially comparable information shall Master Servicer, Rating Agencies should be prepared notified and furnished be informed as to Residual Certificateholders by how this data will be made available to the Trustee pursuant to any requirements of Rating Agencies in the Code as from time to time in forcefuture.
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 contained in the Remittance Report, the Trustee Securities Administrator shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions tx xxx xxxxxxxxxions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Securities Administrator Fee paid;
(xviiixvii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller the Depositor during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) Depositor during the related Collection Prepayment Period in connection with Section 3.16;
(xxv) the amount of the Credit Risk Manager Fee paid; and
(xxvi) the 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 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. 95 Assistance in using the Securities Administrator's website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the above distribution 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 Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. 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), (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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxiv) and (xviiixvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward to the Residual Certificateholders 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 Trustee Securities Administrator deems necessary or appropriate. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders Class R Certificateholder by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time 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, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;; 108
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, reduction of each principal balance to zero;
(xi) 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 Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Prepayment Charges collected (including amounts deposited Principal Prepayments in connection with full, the full or partial waiver aggregate amount of such Prepayment Charges pursuant to Section 3.01) Principal Prepayments in part and Net Liquidation Proceeds made during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X CertificatesPrepayment Period;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.26;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) 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;
(xx) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xxxxi) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for 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;
(xxiii) Date and the Liquidation Report Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
(xxiv) [reserved];
(xxv) [reserved];
(xxvi) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Accounts and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanNet WAC Rate Carryover Reserve Account; and
(xxvxxvii) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 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 (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Option One Mortgage Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and post on its website at www.usbank.com/abs and 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 CertificatesCexxxxxxxxxx, a statement x xxxxement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and accrued and unpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance and the Loan Group Balance for each Loan Group at the close of business at the end of the related Collection Period;
(vii) separately stated for each Loan Group, the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) separately stated for each Loan Group, the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) separately stated for each Loan Group, 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Prepayment Charges prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges 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 Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of CertificatesCertificates 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates each Component 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 and the amount of any LIBOR Carryover AmountsDate;
(xvi) 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 3.23;
(xvii) [Reserved];
(xviii) [Reserved];
(xix) the amount of the Trustee Fee paid;
(xviiixx) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and the portion thereof constituting LIBOR Carryover Amounts and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xixxxi) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxxii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxv) the Liquidation Report for such Distribution Date;
(xxivxxvi) 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
(xxvxxvii) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviiixx) 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 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 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 furnished to Residual 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 (C Bass Mortgage Loan Asset Backed Cert Series 2002-Cb5)
Statements. (a) On Two Business Days prior to each Distribution Date, the Securities Administrator shall make available to the Trustee, and concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to each Holder of the Regular Certificates, the Seller, the Master Servicer, the Trustee and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Mortgage Loan information contained in Master Servicer, (the Remittance Report, the Trustee shall (i“Distribution Date Statement”) prepare and 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, a statement as to the distributions to be made or made, as applicable, on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountPro Rata Senior Percentage, Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Group for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer during the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of the related Determination Date;
(vii) the Loan Group Balance and related Net WAC for each Loan Group at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) for each Loan Group, the aggregate Principal Balance of the Six-Month CMT Indexed and One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the Six-Month LIBOR Indexed, One-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [reserved]
(xi) for each Loan Group, the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month preceding such Distribution Datemonth;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxiii) the book value of any REO Property as of the close Close of business 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixiv) the aggregate amount of Principal Prepayments and Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xii) 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;
(xiiixv) the aggregate amount of Realized Losses incurred during the related Collection Due Period and the cumulative amount of Realized Losses;
(xivxvi) the Class Certificate Principal Balance or Notional Amountof each Class of Certificates and the Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, as applicable, on such Distribution Date;
(xvii) the Interest Distributable Amount in respect 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(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 Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the Available Funds with respect to the distribution of principal on such Distribution Dateeach Loan Group;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;; and
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or Seller during the related Collection Period Due Period, and indicating the relevant section of the related Servicing Agreement, or the Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan; . The Securities Administrator will make the Distribution Date Statement (and
, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (xxv000) 000-0000. Parties that are unable to use the aggregate Principal Balance of above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16customer service desk and indicating such. 95 The Trustee may fully rely upon and Securities Administrator shall have no liability with respect the right to information with respect change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by parties, and the ServicerSecurities Administrator shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xviii) and (xviiixxi) 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 Securities Administrator shall forward 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.
(d) No later than the second Business Day following each Determination Date, the Master Servicer shall provide the Securities Administrator the following information with respect to each Mortgage Loan (the “Remittance Report”):
(i) the Mortgage Loan identifying number;
(ii) [reserved];
(iii) the current Loan Rate as of the end of the related Due Period;
(iv) the related Servicing Fee Rate;
(v) the current Monthly Payment due as of the end of the related Due Period;
(vi) the next scheduled Due Date as of the end of the related Due Period;
(vii) the next Adjustment Date of the Mortgage Loan as of the end of the related Due Period, if applicable;
(viii) the Stated Principal Balance of the Mortgage Loan immediately prior to the Residual Certificateholders a copy related Due Period;
(ix) the Stated Principal Balance of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information Mortgage Loan as the Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed end of the related Due Period;
(x) [reserved];
(xi) the aggregate of all interest received on the Mortgage Loan, including Advances;
(xii) [reserved];
(xiii) the aggregate of all scheduled principal payments received on the Mortgage Loans, including Advances;
(xiv) Principal Prepayments in part;
(xv) Principal Prepayments in full;
(xvi) the delinquency status of the Mortgage Loan (i.e., 0, 30, 60, 90+ days Delinquent);
(xvii) Prepayment Penalty Amounts;
(xviii) an indication as to have whether the Mortgage Loan is in foreclosure;
(xix) an indication as to whether the related Mortgaged Property has become an REO Property;
(xx) the date of bankruptcy of the Mortgagor, if any;
(xxi) the date of foreclosure, if any;
(xxii) the date on which the related Mortgaged Property became an REO Property;
(xxiii) for each Mortgage Loan for which a Liquidation Event has occurred, whether such Mortgage Loan (i) has been satisfied to paid in full, (ii) is a Liquidated Mortgage Loan or (iii) has been repurchased or replaced;
(xxiv) [reserved];
(xxv) the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders Stated Principal Balance of the Mortgage Loan on the date on which a Liquidation Event occurs;
(xxvi) Liquidation Proceeds;
(xxvii) Net Liquidation Proceeds;
(xxviii) Realized Losses;
(xxix) Net Interest Shortfalls;
(xxx) Relief Act Reductions;
(xxxi) the aggregate of all scheduled interest received on the Mortgage Loans, excluding Advances;
(xxxii) the aggregate of all scheduled principal received on the Mortgage Loans, excluding Advances;
(xxxiii) the current amount of Advances outstanding;
(xxxiv) the amount advanced by the Trustee pursuant to any requirements related Servicer.
(xxxv) the amount of principal advanced by the Code as from time to time in forcerelated Servicer; and
(xxxvi) the amount of interest advanced by the related Servicer.
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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and 112 REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, reduction of each principal balance to zero;
(xi) 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 Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Prepayment Charges collected (including amounts deposited Principal Prepayments in connection with full, the full or partial waiver aggregate amount of such Prepayment Charges pursuant to Section 3.01) Principal Prepayments in part and Net Liquidation Proceeds made during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X CertificatesPrepayment Period;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.26;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency 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 giving effect to the distribution of principal reimbursements therefor on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuingamounts due, and the cumulative Realized Losses, as a percentage of the original Pool Balanceamounts received under each Cap Contract;
(xxi) when the Stepdown Date or a Trigger Event is in effect;
(xxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for 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;
(xxiii) Date and the Liquidation Report Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Accounts and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanNet WAC Rate Carryover Reserve Account; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 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 (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 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 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 Residual 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 (Option One Mortgage Loan Trust 2004-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Datetotal cashflows received and the general sources thereof;
(xx) whether a Trigger Event has occurred and is continuing, the respective Pass-Through Rates applicable to the Floating Rate Certificates and the cumulative Realized Losses, as a percentage of Class C Certificates for such Distribution Date and the original Pool BalancePass-Through Rate applicable to the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxi) the Available Funds;amount of any Net Swap Payments or Swap Termination Payments; and
(xxii) the rate at which interest accrues applicable Record Date, Accrual Period and any other applicable determination dates for each Class of Certificates calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxiiiand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Liquidation Report for such Distribution Date;
Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (xxiv000) 000-0000. Parties that are unable to use the aggregate Principal Balance of Mortgage Loans purchased above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Servicer or Seller during the related Collection Period customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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-A)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificates, www.jpmorgan.com/absmbs a statement as to the distributions made on such Distribution Datexxxx Xxxxxxxxxxxx Xxxx:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances in respect of the Trust Fund and each Loan Group for the related Collection Period;
(vi) the Pool Balance and each Group Balance at the close of business at the end of the related Collection Period;
(vii) the number, 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 Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans in the Trust Fund and in each Loan Group (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and 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 Property;
(x) 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 in the Trust Fund and each Loan Group as of the close of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, both for the Trust Fund as a whole as well as for each Loan Group;
(xii) the aggregate amount of Prepayment Charges prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges 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 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 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, Certificates (other than the Class B-3 Certificates A-IO Certificates) and the Class B-4 B-2 and Class B-3 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 and the amount of any LIBOR Carryover AmountsDate;
(xvi) the Group 1 Class A-IO Component Notional Amount, the Group 2 Class A-IO Component Notional Amount and the Group 3 Class A-IO Component Notional Amount;
(xvii) 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 3.23;
(xviixviii) the amount of the Trustee Fee paid;
(xviiixix) the LIBOR 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;
(xx) the Net Rate Carryover Amounts distributed on such Distribution Date Date, separately identifying any Net Rate Carryover Amounts paid from amounts received in respect of the Interest Rate Cap Agreements, and the amounts any Net Rate Carryover Amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xixxxi) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxxii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxv) the Liquidation Report for such Distribution Date;
(xxivxxvi) the aggregate 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
(xxvxxvii) the 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 in connection with Section 3.16. 95 Parties that are unable to use http://www.jpmorgan.com/absmbs are entitled to have a paper copy maixxx xx xxxx xxx xxxxx xxxxx xxil by calling the Trustee at (212) 623-5600 and indicating such. The Trustee shall have the right xx xxxxxx xxx 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. 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviiixx) 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 forward provide to the Residual Certificateholders a copy of the reports forwarded provided 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 furnished to Residual 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 (Financial Asset Sec Corp C Bass Mort Ln as Bk Ce Se 02-Cb6)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Reportprovided to it by each Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicers and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances and/or Monthly Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24 or by Countrywide Servicing pursuant to Section 2.04 of Exhibit B;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract. The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "hxxxx://xxx.xxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 2005-A)
Statements. (a) On each Distribution Each month, not later than 12:00 noon New York time on the Determination Date, basedthe Servicer shall deliver to the Trustee, by telecopy, for distribution to the Certificateholders, the receipt and legibility of which shall be confirmed telephonically, with hard copy thereof and the Servicer's Monthly Computer Tape in the form attached hereto as applicable, Exhibit L (both in hard copy and in computer tape form) to be delivered on the Mortgage Loan information contained in Business Day following the Remittance ReportDetermination Date, a certificate signed by a Servicing Officer (a "Servicer's Certificate") stating the date (day, month and year), the Trustee shall (i) prepare and forward by mail to each Holder Series number 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, a statement as to the distributions made on such Distribution Date:
(i) the amount date of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountthis Agreement, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amountand, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved];
(v) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day Record Date for such month:
(i) Available Funds for the related Remittance Date;
(ii) The Aggregate Class A Certificate Principal Balance, the Aggregate Class M Certificate Principal Balance, the Aggregate Class B Certificate Principal Balance and the Pool Principal Balance as reported in the prior Servicer's Certificate pursuant to subclause (xii) below, or, in the case of the calendar month preceding such Distribution first Determination Date, the Original Class A, Class M and Class B Certificate Principal Balance and the Original Pool Principal Balance;
(iii) The number and Principal Balances of all Business Loans which were the subject of Principal Prepayments during the Due Period;
(iv) The amount of by all Curtailments which were received during the Due Period;
(v) The amount of all Excess Payments and the amount of all Monthly Payments in respect of principal received during the Due Period;
(vi) The aggregate amount of interest received on each Business Loan;
(vii) The amount of the Monthly Advances to be made on the Determination Date and the Compensating Interest payment to be made on the Determination Date;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit K;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) the book value The amount 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Due Period and the cumulative Actual Loss Amount for such Remittance Date;
(x) The Class A, Class M and Class B Interest Distribution Amounts and Principal Distribution Amounts for the Remittance Date with the components thereof stated separately;
(xi) The amount available in the Spread Account as of the related Record Date in cash and from liquidation of Permitted Instruments and the amount, if any, to be transferred from the Spread Account to the Certificate Account pursuant to Section 6.02(b)(i) and the total amount of Realized LossesGuaranty Payments and payments with respect to Alternate Credit Enhancement for such Remittance Date;
(xii) The Aggregate Class A Certificate Principal Balance, Aggregate Class M Certificate Principal Balance, Aggregate Class B Certificate Principal Balance and the Pool Principal Balance after giving effect to the distribution to be made on the Remittance Date;
(xiii) The Extra Interest received with respect to such Remittance Date and, for each Remittance Date after the Spread Account Trigger Date, the Spread Balance and the Specified Spread Account Requirement with respect to such Remittance Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, The weighted average maturity 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 Amountsweighted average Business Loan Interest Rate;
(xv) The Servicing Fees and amounts to be deposited to the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class 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 amount of any LIBOR Carryover AmountsExpense Account;
(xvi) the aggregate The amount of any Prepayment Interest Shortfalls for such Distribution Date, all payments and reimbursements to the extent not covered by payments by the Servicer pursuant to Section 3.235.04 (b), (c), (d)(ii), (e) and (f);
(xvii) the amount of the Trustee Fee paidThe Class A, Class M and Class B Remittance Rates with respect to such Remittance Date;
(xviii) the LIBOR Carryover Amounts distributed on Cumulative Actual Loss Amount and Cumulative Realized Losses for such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Remittance Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Class B Shortfall Amount, if any, for such Distribution Remittance Date;
(xx) whether a Trigger Event has occurred and is continuingDuring the Funding Period, and the 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 of 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 such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Subsequent Mortgage Loans repurchased purchased during the prior Due Period and the amount on deposit in the Pre-Funding Account as of the end of such Due Period; and
(xxi) Such other information as the Certificateholders or the Rating Agencies may reasonably require. The Trustee shall forward such report to the Certificateholders and the Rating Agencies on the Remittance Date, together with a separate report indicating the amount of funds deposited in the Certificate Account pursuant to Section 6.01(a)(iv); and the amounts which are reimbursable to the Servicer or the Seller pursuant to Sections 6.03(c)(i), 6.03(c)(ii) and 6.07(b)(vi) (all reports prepared by the Servicer (Trustee of such withdrawals and deposits will be based in whole or an affiliate) during in part upon the related Collection Period in connection with Section 3.16. 95 The Trustee may fully rely upon and shall have no liability with respect to information with respect provided to the Mortgage Loans provided Trustee by the Servicer). To the extent that there are inconsistencies between the telecopy of the Servicer's Certificate and the hard copy thereof, the Trustee shall be entitled to rely upon the telecopy. In the case of information furnished pursuant to subclauses (i) through ii), (iii), (iv), (v), (x) and (xii), above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each per $1,000 original dollar amount as of the Cut-off Cut- Off Date. Additionally, on the Special Remittance Date the Trustee shall, based upon information received from the Servicer, forward to the Certificateholders and the Rating Agencies a report setting forth the amount of principal and interest, if any, being paid to each Class of Certificates on the Special Remittance Date.
(ba) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall furnish to the Trustee for distribution 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 (ivi), (iix), and (xv) and (xviii) ), above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished provided 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 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 furnished to Residual Certificateholders by the Trustee Servicer pursuant to any requirements of the Code as from time to time are in force.
(b) Upon reasonable advance notice in writing, the Servicer will provide to each Certificateholder which is a savings and loan association, bank or insurance company certain reports and access to information and documentation regarding the Business Loans sufficient to permit such Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Certificates.
(c) The Servicer shall furnish to each Certificateholder, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by such Certificateholder for the Servicer's actual expenses incurred in providing such reports if such reports are not producible in the ordinary course of the Servicer's business. The Rating Agencies shall receive copies of any such reports or information furnished to the Certificateholders.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Money Store Commercial Mortgage Inc)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificateswww.jpmorgan.com/sfr, a statement as to (the distributions "Distribution Date Statement") xx xx xxx xxxxxxxxxxons made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Fee paid;
(xviii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxvii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxviii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixix) the Available Funds;
(xxiixx) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxi) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Servicer, the Originator or the Seller during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiii) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Prepayment Period in connection with Section 3.16;
(xxiv) the amount of the PMI Insurer Fee paid;
(xxv) the amount of the Credit Risk Manager Fee paid;
(xxvi) the 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 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 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); 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). 95 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), (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.
(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 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), (ii), (xvxiv) and (xviiixvii) 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 forward make available to the Residual Certificateholders Class R Certificateholder a copy of the reports forwarded 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 that substantially comparable information shall be prepared and furnished to Residual Certificateholders Class R Certificateholder by the Trustee pursuant to any requirements 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 Mortgage Loan information contained Servicer in the Remittance Report, the Trustee shall (i) prepare and 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 Certificatesxxx.xxxxx.xxx/xxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountPro Rata Senior Percentage, Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of the related Determination Date;
(vii) the Pool Balance and Net WAC at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the Mortgage Loans as of the related Due Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the calendar month Determination Date preceding such Distribution Date;
(ixx) with respect to any Mortgage Loan that became an a REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance Loan and the Principal Balance of such Mortgage Loan as of the date it became an a REO Property;
(xxi) the book value of any REO Property as of the close Close of business 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 Collection Due Period;
(xixii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Due Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xv) the Class Certificate Principal Balance or Notional Amount, as applicable, of each Class of Certificates (other than the Class X Certificates) and the Class Certificate Notional Balance of the Class X Certificates, after giving effect to the distributionsany distributions made thereon, 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;
(xvxvi) the Accrued Certificate Interest Distributable Amount in respect of each Class of Offered the Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.24 hereof;
(xviii) if applicable, whether the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution DateStep Down Conditions have been met;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxiixx) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;; and
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or the Seller during the related Collection Period Due Period, and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) . Holders that are unable to use the aggregate Principal Balance above distribution options are entitled to have a paper copy mailed to them via first class mail by notifying the Trustee in writing and requesting same. The Trustee shall have the right to change the way Distribution Date Statements are distributed in order to make such distribution more convenient and/or more accessible to the Holders and the Trustee shall provide timely and adequate notification to the Holders regarding any such changes. The Trustee's obligations pursuant to this Section 4.04 are limited to the extent of its receipt of all necessary information from the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Servicer. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward supply an electronic tape to the Residual Certificateholders Bloomberg Financial Markets, Inc. in a copy of the reports forwarded format acceptable 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 furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.Bloomberg Financial Markets, 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 Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B-1 Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B-1 Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B-1 Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 of Mezzanine Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract. The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (800) 735-7777. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer, the Certificate Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date: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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (aexcept 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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value Delinquency Percentage;
(xi) the total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, 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 Collection Prepayment Period;
(xixiii) 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;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xivxv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) 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, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvii) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixviii) 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 3.23;
(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 Date3.26;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Senior Credit Enhancement Percentage for such Distribution Date;
(xx) whether a Trigger Event has occurred the Net WAC Rate Carryover Amount for each Class of Class A Certificates and is continuingeach Class of Mezzanine Certificates, if any, for such Distribution Date and the cumulative Realized Losses, as a percentage of the original Pool Balanceamount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Available Funds[reserved];
(xxii) whether the rate at which interest accrues for Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows 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) [reserved];
(xxvi) [reserved];
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account;
(xxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxiiixxix) the Liquidation Report for such Distribution Date;
(xxiv) amount of any payments/draws under 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 LoanPolicy; and
(xxvxxx) the aggregate Principal Balance amount of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. 95 The Trustee may fully rely upon 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 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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. 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 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 (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of CertificatesC Interest, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Interest for such Distribution Date and the Pass- Through Rate applicable to each Class of Class A Certificates and each Class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
(xxiii) (A) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loandenials related); and
(xxv) the aggregate Principal Balance amount on deposit in the Dividend Account immediately prior to the related Master Servicer Remittance Date, the amount deposited into the Dividend Account on the related Master 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 Master Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Dividend Account Certificate on such Distribution Date). 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 100 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 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 Residual 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 (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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution Date;Cap Contract; and
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in the Servicer or Seller during Pre-Funding Accounts and the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage LoanInterest Coverage Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 117 deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual 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 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 of Mezzanine Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract. The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (800) 735-7777. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (Finance America Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee Securities Administrator shall (i) prepare and 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 Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates from Prepayment Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the Trustee Fee paiddistribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xviiixvii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller the Depositor during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) Depositor during the related Collection Prepayment Period in connection with Section 3.16;
(xxv) the amount of the Credit Risk Manager Fee paid;
(xxvi) the 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 each 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;
(xxvii) the amount of any Yield Maintenance Agreement Payments for such Distribution Date; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. 95 Assistance in using the Securities Administrator's website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. The Trustee Securities Administrator shall provide such informaxxxx xx xxxxxxs that are unable to use the above distribution option 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 Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. The Securities Administrator 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), (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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxiv) and (xviiixvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward to the Residual Certificateholders a copy of the reports forwarded to the holder of any Regular Certificateholders Certificate in respect of such Distribution Date with such other information as the Trustee Securities Administrator deems necessary or appropriate. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Overcollateralized Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Floating Rate Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract. The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased NIMS Insurer and the Rating Agencies via the Trustee’s internet website. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee’s customer service desk. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (Fremont Home Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail make available 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 Certificatesthe NIM Insurer, a statement (the "Distribution Date Statement") on its Internet website as to the distributions made on such Distribution DateDate setting forth:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of Servicing Fees received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, in each case as of the last day of the preceding calendar month (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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 AmountsAmount, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss AmountsAmount;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Fee paid;
(xviiixvii) the LIBOR Cap Carryover Amounts on the Class A-1A Certificates distributed on such Distribution Date and 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;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer Servicer, the Originator or the Seller during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Prepayment Period in connection with Section 3.16;
(xxv) the 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 each 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 amount 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. 95 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), (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. The Trustee 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 Servicer and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at https://www.tss.db.com/invr. Assistance in using the website can be obxxxxxx xx xxxxxxx xxx Xxxxxee's investor relations desk at (800) 735-7777. Parties that are unable to use the above distribution xxxxxxx xxx xxtitled to have a paper copy mailed to them via first class mail by calling the 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.
(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 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), (ii), (xv) and (xviiivi) 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 forward make available to the Residual Certificateholders Class R Certificateholder a copy of the reports forwarded 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 that substantially comparable information shall be prepared and furnished to Residual Certificateholders 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 Certificateholder or Certificate Owner, 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 Certificate Owner in accordance with such reasonable and explicit instructions and directions as the Certificateholder 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(ixA) with respect the dollar amount of payments received related to any Mortgage Loan that became an REO Property claims under the PMI Policy during the preceding calendar month, related Prepayment Period (and the loan number of Mortgage Loans to which such Mortgage Loan, payments related); (B) the unpaid principal balance cumulative dollar amount of payments received related to claims under the PMI Policy since the Closing Date (and the Principal Balance 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 Loan as Loans to which such denials related); and (D) the dollar amount of the date it became an REO Propertycumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A-1 Certificates, the Class A-2 Certificates, the Class M-1 Certificates, the Class M-2A Certificates and the Class M-3 Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;; and
(xxiii) the Liquidation Report amount of payments, if any, made under the Cap Contracts, received by the Trustee and deposited into the Net WAC Rate Carryover Reserve Account for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxxxxxxxxx.xx.xxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (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 Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;; 101
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date 102 and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 the Class B Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract; The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviii) 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 forward 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 Residual Certificateholders by the Trustee pursuant to any requirements 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 the Mortgage Loan information contained in Trustee by the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Credit Risk Manager, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to the distribution of principal on Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Dateany Net Swap Payments or Swap Termination Payments paid to the Swap Provider;
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiv) the aggregate Principal Balance 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 purchased by to which such payments related) and (B) the Servicer or Seller during cumulative amount of payments received related to claims under each PMI Policy since the related Collection Period Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loanpayments related); and
(xxvxxvi) to the aggregate Principal Balance of the Mortgage Loans repurchased extent provided by the Servicer (or an affiliateA) the dollar amount of claims made under each PMI Policy that were denied (as identified by the Servicer) during the related Collection Prepayment Period in connection with Section 3.16(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). 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMs Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO
(1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass- Through Rate applicable to the Class A Certificates and the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Account, the Interest Coverage Account and the Reserve Fund; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans repurchased by and that is being distributed to the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usinx xxx xxxxxxx xan be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by above parties and the ServicerTrustee shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 91 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 forward to the Residual 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 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 Residual 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 (Option One Mort Accep Corp Asset Backed Cert Ser 2001-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24;
(xvi) the Credit Enhancement Percentage and the Senior Mezzanine Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the total cashflows received and the general sources thereof;
(xx) the respective Pass-Through Rates applicable to the distribution of principal on Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Cap Contract and the cumulative Realized Losses, as a percentage amount distributed to each Class of Certificates from payments made under the original Pool Balance;
(xxi) the Available FundsCap Contract;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “hxxxx://xxx.xxx.xx.xxx/xxxx”. Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee’s customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 2006-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer pursuant to Sections 3.19 and 4.04, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[Reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the amounts thereof allocable to cumulative amount of Subsequent Recoveries received since the Class N Certificates and the Class X CertificatesClosing Date;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, each Class of Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 the Class B Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in 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 LoanPre-Funding Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (800) 735-7777. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (Equifirst Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee Securities Administrator shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available on its website internet website, initially located at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificates, "xxx.xxxxxxx.xxx," a statement (a "Distribution Date Statement") as to the distributions to be made on such Distribution Date:
(i) the Principal Distribution Amount and the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified 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 Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Period Period, and the cumulative amount of Realized LossesLosses and the Cumulative Realized Loss Percentage;
(xivxiii) 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, and the Notional Amount of the Class AIO Certificates for that Distribution Date;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class 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 amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23, and the amount of Relief Act Shortfalls applied to reduce the Interest Remittance Amount for each Class for such Distribution Date;
(xvi) the amount of the Securities Administration Fee paid;
(xvii) the aggregate amount of the Trustee Credit Risk Manager 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 Amount after giving effect to the distribution distributions of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate Pass-Through Rate at which interest accrues for each Class of Certificates for such Distribution Date and the Formula Rate at which interest will accrue for such Class (other than the Class A-1, and AIO Certificates and, for the first 24 Distribution Dates, the Class A-2 Certificates) for the next Distribution Date, and the Pass-Through Rate for the Class A-1, Class A-2 and Class AIO Certificates for the next Distribution Date;
(xxiiixxii) the Liquidation Report for such Distribution Date;
(xxivxxiii) 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;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) Depositor during the related Collection Period in connection with Section 3.16;
(xxv) the amount of Unpaid Interest Shortfall Amount and Net WAC Rate Carryover Amount 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 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, and the remaining amount of any Realized Losses that have been so allocated and not yet reimbursed, for each Class. 95 Assistance in using the Securities Administrator's website can be obtained by calling the Securities Administrator's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. The Securities Administrator's obligations pursuant to this Section 4.06 are limited to the extent of its receipt of all necessary information from the Servicer. The Securities Administrator 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxi), (xii), (xxiii) and (xviiixxiv) 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 obligation obligations of the Trustee and the Securities Administrator shall be deemed to have been satisfied to the extent 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 Trustee Securities Administrator shall forward make available on its website the same information to the Residual Class R Certificateholders a copy of the reports forwarded as that provided to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee Securities Administrator deems necessary or appropriate. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Class R Certificateholders by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in force.
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 Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) with respect to each Loan Group, the Pool Balance related group balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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) 60 113 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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 Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Accounts, the Interest Coverage Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Option One Mortgage Accep Corp Ast Back Certs Ser 2003-3)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesxxx.xxxxxxxx.xxx/xxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional AmountPrincipal Balance, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges, Servicer Prepayment Charge Payment Amounts and Transferor Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) Realized Losses incurred during the related Collection Period Period, the cumulative amount of Realized Losses and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred Subsequent Recoveries received during the related Collection Period and the cumulative amount of Realized LossesSubsequent Recoveries;
(xivxiii) the Certificate Principal Balance Balance, or Notional AmountPrincipal Balance, 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate and any related Net WAC 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the amount of the Trustee Fee paid;
(xviiixvii) the LIBOR Net WAC Rate Carryover Amounts Amount for each Class distributed on such Distribution Date and Date, the amounts amount of Net WAC Rate Carryover Amount remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Net WAC Rate Carryover Amounts on the Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates covered by withdrawals from the Reserve Account on such Distribution Date;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxA) whether a Trigger Event has occurred and is continuing, (B) the Credit Enhancement Percentage, (C) the three-month rolling average percentage of the Pool Balance, as of the end of each of the preceding three Collection Periods, represented by the aggregate Principal Balance of all 60+ Day Delinquent Loans, (D) the percentage obtained by dividing such percentage reported pursuant to (C) by the Credit Enhancement Percentage, and (E) the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the amount of Available FundsFunds for such Distribution Date;
(xxiixxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Prepayment Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and100
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Prepayment Period in connection with Section 3.16; and
(xxv) the 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, or calculated pursuant to, each related Mortgage Note and the Prepayment Charge collected and/or the Servicer Prepayment Charge Payment Amount paid by the Servicer or Transferor Prepayment Charge Payment Amount paid by the Transferor with respect to each such Mortgage Loan. 95 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), (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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxiv) and (xviiixvii) 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 forward make available to the Residual Certificateholders Class R Certificateholder a copy of the reports forwarded 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 that substantially comparable information shall be prepared and furnished to Residual Certificateholders Class R Certificateholder 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 (Asset Backed Funding Corp Abfc Asset Backed Ser 2004-Ahl1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Guarantor, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution 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 principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identifiedidentified and the calculation thereof;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and Amount, the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for each Loan Group for the related Collection Due Period;
(vi) the Pool Principal Balance at the close of business at the end of the Mortgage Loans in each Loan Group (after giving effect to the principal portion of Monthly Payments due during the related Collection Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period);
(vii) as of the numberrelated Determination Date and with respect to each Loan Group, (A) the number of Mortgage Loans, (B) the aggregate principal balance of the Mortgage Loans, (C) the weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans and (D) the weighted average Mortgage Rate as of the related first day of the most recently ended Due DatePeriod of the Mortgage Loans and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans in each Loan Group that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 130 on the last day of the calendar month preceding such Distribution DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments for each Loan Group made during the related Prepayment Period;
(xii) 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) Realized Losses for each Loan Group incurred during the related Collection Period Prepayment Period, the cumulative amount of Realized Losses for each Loan Group and the amounts thereof allocable to the Class N Certificates and the Class X CertificatesThree-Month Rolling Delinquency Percentage;
(xiii) the aggregate amount of Realized Losses incurred during extraordinary Trust Fund expenses withdrawn from the related Collection Period and the cumulative amount of Realized LossesAccount for such Distribution Date;
(xiv) the Certificate Principal Balance or of the Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates and the Notional Amount, as applicable, Amount of each Class of Class S Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 S Certificates, each Class of Mezzanine Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, each Class of Mezzanine Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) the aggregate amount of any Prepayment Interest Shortfalls for each Loan Group for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each class of Class A Certificates, the Class S Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) the Overcollateralization Target Amount, Overcollateralized Amount and any Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Class S 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) the amount on deposit in the Pre-Funding Accounts immediately prior to the related Prepayment Period, the amount withdrawn therefrom during the related Prepayment Period and the amount remaining on deposit therein as of the end of the related Prepayment Period and as of such Distribution Date, the amount on deposit in, and the amounts withdrawn from and included in Available Funds, each Interest Coverage Account and the Net WAC Rate Carryover Reserve Account;
(xxiv) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date;
(xxv) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date;
(xxiiixxvi) such other information as the Guarantor may reasonably request in such format as reasonably requested by the Guarantor and any other information that is required by the Code and regulations thereunder to be made available to Certificateholders; and
(xxvii) the Liquidation Report Maximum Cap Rate for such Distribution Date;
; The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased Guarantor, the NIMS Insurer and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (301) 815-6600. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 132 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall shall, upon written request, furnish to the Guarantor, 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 (ii), (xv) and (xviiiiii) 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 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 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 Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) By not later than September 15, 2002, the Trustee is required to (i) confirm, to the extent such data is available in the Information Circular or from Banc of America Securities LLC, that the cash flows, weighted average lives, yields and credit enhancement default analysis for the Class A-1 Certificates and Class S-1 Certificates as presented in the Information Circular are correct therein based on the assumptions and principal and interest methodology described in the Information Circular and are consistent with the model developed by the Trustee for the calculations that the Trustee is required to make hereunder and (ii) notify the Guarantor that the information referred to in clause (i) above is consistent with the model developed by the Trustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-5)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available on its website at www.usbank.com/abs xxx.xxxxxxxx.xxx/xxx for access by exxx Xxxxxx xx xxx each Holder of the Regular Certificates, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved];
(v) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Period and the number and aggregate Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 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 Accrued Certificate Interest in respect of each Class of Offered Class A Certificates, the Class B-3 Mezzanine Certificates and the Class B-4 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 amount of any LIBOR Net WAC Rate Carryover Amounts;
(xvi) 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 3.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR 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 distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the 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 of 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 such Mortgage Loan;
(xxv) the amount on deposit 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
(xxvxxvii) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviiixx) 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 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 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 furnished to Residual Certificateholders by the Trustee pursuant to any requirements 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 obtained from the Mortgage Loan information contained in Master Servicer and the Remittance Report, Servicer (the Trustee shall (i“Distribution Date Statement”) prepare and 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, a 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 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 Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date[Reserved];
(iv) [reserved]the aggregate amount of Servicing Fees, Master Servicing Fees and Credit Risk Manager Fees for the related Due Period;
(v) the amount of Advances for each Loan Group and the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Loan Group Balance for each Loan Group and the Net WAC for each Loan Group at the close Close of business Business at the end of the related Collection 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, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixi) for each Loan Group, the number and aggregate unpaid Principal Balance principal balance of the related Mortgage Loans Loans, (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, using 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 PropertyOTS method;
(xxii) for each Loan Group, the book value (if available) of any REO Property as of the close Close of business 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixiii) for each Loan Group, the aggregate amount of any Principal Prepayments, net Principal Prepayments or other unscheduled recoveries of principal with respect to each Loan Group made during the related Prepayment Period;
(xiixiv) 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) for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Due Period for each Loan Group and the cumulative amount of Realized Losses and the amount of Realized Losses;
(xiv) the Certificate Principal Balance or Notional Amount, as applicableif any, of allocated to each Class of Certificates, Certificates after giving effect to the distributionsany distributions made thereon, 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 Accrued Certificate Class Principal Balance of each Class of Certificates and the 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 Monthly Interest Distributable Amount and the Interest Distributable Amount in respect of each related Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixvii) for each Loan Group, the aggregate amount of any Prepayment Net 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 3.23;
(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 any distributions thereof made thereon, on such Distribution Date;
(xixxviii) any Overcollateralization Deficiency after giving effect to for each Loan Group, the distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the related Available Funds;
(xxiixix) for each Loan Group, the rate at which interest accrues Pass-Through Rate and related Adjusted Cap Rate for each Class of Certificates for such Distribution Date;
(xxiiixx) the Liquidation Report for such Distribution Date;
(xxiv) each Loan Group, the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or Seller during the related Collection Period Due Period, and indicating the relevant section of the Mortgage Loan Purchase Agreement, or the Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxi) for each Loan Group, the amount of any 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 each Class after giving effect to any distributions made thereon, on such Distribution Date;
(xxv) 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 Unpaid Interest Shortfall Amount;
(xxx) the 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 Final Maturity Reserve Account to each Class of Certificates;
(xxxi) the Overcollateralized Amount for that Distribution Date;
(xxxii) 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 in 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
(xxvxxxvii) the aggregate Principal Balance and number of the Subsequent Mortgage Loans repurchased purchased in the Prefunding Period. The Securities Administrator shall make 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 Certificate Insurer and the other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “wxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Servicer Securities Administrator’s customer service desk at (or an affiliate000) during 000-0000. Parties that are unable to use the related Collection Period in connection with Section 3.16above 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. 95 The Trustee may fully rely upon and Securities Administrator shall have no liability with respect the right to information with respect change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by parties, and the ServicerSecurities Administrator shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish . In addition 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), (ii), (xv) and (xviii) listed 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 forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with Statement or the report on Form 10-D for such Distribution Date shall also include any other information as the Trustee deems necessary or appropriate. Such obligation required by Item 1121 (§ 229.1121) of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceRegulation AB.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-14)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information contained in the Remittance Report, the Trustee Securities Administrator shall (i) prepare and 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 Certificateswww.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions xxx xxxxxxxxxxxns made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amountprincipal, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates from Prepayment Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X CE Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) the Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the Trustee Fee paiddistribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xviiixvii) the LIBOR Cap Carryover Amounts distributed on such Distribution Date and 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 applicable Reserve Account on such Distribution Date;
(xixxviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xxxix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixx) the Available Funds;
(xxiixxi) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiiixxii) the information contained in the Liquidation Report for such Distribution Date;
(xxivxxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller the Depositor during the related Collection Prepayment Period and indicating the Section section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and;
(xxvxxiv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) Depositor during the related Collection Prepayment Period in connection with Section 3.16;
(xxv) the amount of the Credit Risk Manager Fee paid;
(xxvi) the 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 each 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;
(xxvii) the amount of any Yield Maintenance Agreement Payments for such Distribution Date; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. 95 Assistance in using the Securities Administrator's website can be obtained by calling the Securities Administrator's customer service desk at (301) 815-6600. The Trustee Securities Administrator shall provide such informaxxxx xx xxxxxxs that are unable to use the above distribution option 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 Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. The Securities Administrator 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), (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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall furnish to each Person who at any time during the calendar year was 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), (ii), (xvxiv) and (xviiixvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward to the Residual Certificateholders Class R Certificateholder a copy of the reports forwarded to the holder of any Regular Certificateholders Certificate in respect of such Distribution Date with such other information as the Trustee Securities Administrator deems necessary or appropriate. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders Class R Certificateholder by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time 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 contained in the Remittance Report, the Trustee Securities Administrator shall (i) prepare and forward by mail make available 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 Servicer, the Trustee, the NIMS Insurer, if any, the indenture trustee under the Indenture, the Swap Counterparty and the Rating 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 or Swap Payment Date, as applicable:
(i) the amount of Record Dates, the distribution made on such Accrual Period, the Determination Date and the Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedDate;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular 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 or Class X Distributable Amountand the Pass-Through Rates, separately identified;
(iiiiv) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(v) reserved;
(vi) the Interest Remittance Amount and Monthly Excess Cashflow the Principal Remittance Amount for such Distribution Date;
(iv) [reserved];
(vvii) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of Nonrecoverable Advances for such Distribution Date;
(viviii) the Pool number and aggregate Stated Principal Balance of the Mortgage Loans at the close Close of business Business at the end of the related Collection Due Period and at the beginning of the related Due Period;
(viiix) 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 Due Determination Date;
(viiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) 90 delinquent 90-119 days, (d) 120 or more days past due on a contractual basisin 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, (de) as to which foreclosure proceedings have been commenced and (ef) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixxi) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxii) 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 Collection Prepayment Period;
(xixiii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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;
(xiiixiv) the aggregate amount of Realized Losses incurred during the related Collection Prepayment 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 Accrued Certificate Interest in respect aggregate amount of each Class of Offered Certificates, Extraordinary Trust Fund expenses withdrawn from the Class B-3 Certificates and Collection Account or the Class B-4 Certificates Distribution Account 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 amount of any LIBOR Carryover Amounts;
(xvi) the Certificate Principal Balance of the Class A Certificates, 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 the Class A Certificates, 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 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 3.23;
(xvii) the Servicing Agreement, and the aggregate 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 any Relief Act Interest Shortfalls for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on Credit Enhancement Percentage for such Distribution Date;
(xx) the related Net WAC Rate Carryover Amount for the Class A Certificates, the Mezzanine Certificates and the Junior Subordinate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the Master Servicer Fee, the Servicer Fee and the Program Administrator Fee on such Distribution Date;
(xxii) whether a Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxiii) the Available Funds;
(xxiixxiv) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Class A Certificates, the Mezzanine Certificates and the Junior Subordinate Certificates for the immediately succeeding Distribution Date;
(xxiiixxv) the Liquidation Report for such Distribution DateReserved;
(xxivxxvi) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvii) the aggregate Principal Balance amount on deposit in the Reserve Fund;
(xxviii) Reserved;
(xxix) Reserved;
(xxx) the amount of Mortgage Loans purchased by the Servicer or Seller during Subsequent Recoveries and Gross Subsequent Recoveries for the related Collection Prepayment Period and indicating the Section cumulative amount of this Agreement requiring or allowing Subsequent Recoveries and Gross Subsequent Recoveries in the purchase of each such Mortgage Loanaggregate; and
(xxvxxxi) the aggregate Principal Balance 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 repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Loans. 95 The Trustee may fully rely upon and shall have no liability By way of example, a Mortgage Loan would be delinquent with respect to information 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, and a Mortgage Loan would be more than 30-days delinquent with respect to such Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loans provided by Loan’s second succeeding Due Date. The 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 Counterparty and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at xxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at 000-000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way such state ments are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual Certificateholders by the Trustee pursuant to any requirements 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 Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;[reserved]
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;; and
(xxiii) [reserved] The Trustee will make such statement (and, at its option, any additional files containing the Liquidation Report for such Distribution Date;
same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (xxiv800) 735-7777. Parties that are unable to use the aggregate Principal Balance of Mortgage Loans purchased above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Servicer or Seller during the related Collection Period customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Fremont Home Loan Trust 2003-3 Asset Backed Certs)
Statements. (a) On each Two Business Days prior to the Auction Distribution Date, the Securities Administrator shall make available to the Auction Administrator, and concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to each Certificateholder, the Seller, the Master Servicer, the Trustee, the Yield Maintenance Counterparty and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Mortgage Loan information contained in Master Servicer and the Remittance Report, Servicers (the Trustee shall (i“Distribution Date Statement”) prepare and 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, a 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 Yield Maintenance Account shall be based on information provided by the Yield Maintenance Counterparty regarding any Yield Maintenance Amount required to be paid by the Yield Maintenance Counterparty for the related Distribution Date pursuant to the Yield Maintenance Agreement. 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 Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by each Servicer during the related Due Period;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the number of Mortgage Loans, the Pool Balance and the Net WAC at the close Close of business Business at the end of the related Collection Due Period;
(vii) the aggregate Principal Balance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the aggregate Principal Balance of the Six-Month LIBOR Indexed, One-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the amount of the Master Servicer Fees paid to or retained by the Master Servicer;
(x) the aggregate amount of Servicer Fees paid to or retained by the Servicers;
(xi) the amount of fees, expenses or indemnification amounts paid by the Trust with an identification of the general purpose of such amounts and the party receiving such amounts;
(xii) the number, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Interest Loan Rate of the Mortgage Loans as of the related Due Date;
(viiixiii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans Loans, in the aggregate using the “MBA” method, (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiv) the rolling six-month preceding such delinquency rate for that Distribution Date;
(ixxv) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Collection Due Period;
(xixvi) the aggregate amount of Principal Prepayments and Prepayment Penalty Amounts made during the related Prepayment Period;
(xii) 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;
(xiiixvii) the aggregate amount of Realized Losses and Recoveries incurred during the related Collection Due Period and the cumulative amount of Realized LossesLosses and Recoveries as of such Distribution Date;
(xivxviii) the Realized Losses and Recoveries, if any, allocated to each Class of Certificates on the related Distribution Date;
(xix) the Class Certificate Principal Balance or Class Certificate Notional AmountBalance, as applicable, of each Class of Certificates, Certificates after giving effect to the distributionsany distributions made thereon, 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;
(xvxx) the Accrued Certificate Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixxi) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(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 Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiii) Date and, through the Liquidation Report for such Auction Distribution Date, the level of LIBOR used to determine the applicable Pass-Through Rate;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer Seller or Seller TMI during the related Collection Period Due Period, and indicating the relevant section of the related Servicing Agreement, or the Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxv) (A) the amount paid to the Class A-1 and Class A-2 Certificates from the Yield Maintenance Amount received from the Yield Maintenance Counterparty for such period, expressed as a per annum rate and as a dollar amount and (B) the Yield Maintenance Amount and applicable strike rate under the Yield Maintenance Agreement for such Distribution Date; and
(xxvxxvi) on the aggregate Principal Balance Auction Distribution Date, the Par Price (as defined in the Auction Administration Agreement) for each Class of Auction Certificates as reported to the Mortgage Loans repurchased Master Servicer by the Servicer Securities Administrator. The Securities Administrator will make the Distribution Date Statement (or and, at its option, any additional files containing the same information in an affiliatealternative format) during available each month to Certificateholders and the related Collection Period other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx.” Assistance in connection with Section 3.16using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. 95 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 may fully rely upon and Securities Administrator shall have no liability with respect the right to information with respect change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans provided by parties, and the ServicerSecurities Administrator shall provide timely and adequate notification to all parties regarding any such 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiiv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a CertificateholderCertificateholder and such other customary information which a Certificateholder reasonably requests to prepare its tax returns. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward supply an electronic tape to the Residual Certificateholders Bloomberg Financial Markets, Inc. in a copy of the reports forwarded format acceptable to the Regular Certificateholders Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions 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 a format acceptable to have been satisfied to the extent that substantially comparable information shall be prepared Loan Performance and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceIntex Solutions on a monthly basis.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-6)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee Trust Administrator shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of Servicing Fees and 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 Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;[reserved]
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.27 or the Master Servicer pursuant to Section 4.19;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and when the cumulative Realized Losses, as a percentage of Servicer Termination Test or the original Pool BalanceFitch Servicer Termination Test has been failed;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each Class of Certificates Funds for such Distribution Date;
(xxiiixxii) the Liquidation Report 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) 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
(xxvxxiii) payments, if any, made under the aggregate Principal Balance of Cap Contract. The Trust Administrator will make such statement (and, at its option, any additional files containing the Mortgage Loans repurchased same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trust Administrator's internet website. The Trust Administrator's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website can be obtained by calling the Servicer Trust Administrator's customer service desk at (or an affiliate000) during 000-0000. Parties that are unable to use the related Collection Period in connection with Section 3.16above 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. 95 The Trustee may fully rely upon and Trust Administrator shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trust Administrator's internet website, the Trust Administrator may require registration and the acceptance of a disclaimer. 105 The Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Trust Administrator shall forward 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 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 Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee 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 (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward make available by mail electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a)) to each Holder of the Regular Certificates Certificates, the Trustee, the Master Servicer, the Certificate Insurer, the NIMS Insurer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identified;Prepayment Charges and Master 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool, for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) reserved;
(vi) the aggregate amount of Advances for the related Collection Period;
(vi) the Pool Balance at the close of business at the end of the related Collection Due Period;
(vii) the 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 balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to delinquent 30-59 days past due on a contractual basisdays, (b) 60 to delinquent 60-89 days past due on a contractual basisdays, (c) delinquent 90 or more days past due on a contractual basisin 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, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which 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 bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Dateforce;
(ixx) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage LoanPrepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxi) 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 Collection Prepayment Period;
(xixii) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) by Loan Group and in the aggregate, the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicablethe Mezzanine Certificates, of each the Class of B Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, Date (separately identifying any reduction thereof due to allocations the receipt of Realized Losses or Applied Realized Loss Amountsa Guaranteed Distributions Shortfall in respect of principal in the case of the Class I-A1 Certificates), and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each the Class of Offered A Certificates, the Mezzanine Certificates, the Class B-3 B Certificates and the Class B-4 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 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 amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) 3.24, and the aggregate amount of the Trustee Fee paidany Relief Act Interest Shortfalls for such Distribution Date;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency the related Net WAC Rate Carryover Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after giving effect to the distribution of principal reimbursements therefor on such Distribution Date;
(xx) the Trustee Fee on such Distribution Date;
(xxi) whether a Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for each respective Pass-Through Rates applicable to the Class of A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates for the immediately succeeding Distribution Date; 123
(xxiv) reserved;
(xxiiixxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the Liquidation Report amount on deposit in the Reserve Fund;
(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;
(xxivxxx) the aggregate Principal Balance amount of Mortgage Loans purchased by the Servicer or Seller during Subsequent Recoveries and Gross Subsequent Recoveries for the related Collection Prepayment Period and indicating the Section cumulative amount of this Agreement requiring or allowing Subsequent Recoveries and Gross Subsequent Recoveries in the purchase aggregate and for each of each Loan Group I and Loan Group II;
(xxxi) the amount of any Guaranteed Distributions Shortfall for such Mortgage LoanDistribution Date, separately identifying the portion of such payment allocable to interest and principal; and
(xxvxxxii) the aggregate Principal Balance amount of the Mortgage Loans repurchased Reimbursement Amount for such Distribution Date and the amount received by the Servicer (or an affiliate) during the related Collection Period Certificate Insurer in connection with Section 3.16respect thereof on such Distribution Date. 95 The Trustee may fully rely upon 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 Master Servicer, the Certificate Insurer, the NIMS Insurer and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at xxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/invr. Assistance in using the website can be obtained by calling the Trustee's customer service desk at 0-000-000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. Notwithstanding the way such statements are distributed as provided above, the Trustee shall transmit by electronic mail to the ServicerCertificate Insurer at xxxxxxxxxx@xxx.xxx, no later than each Distribution Date, such statements for such Distribution Date. 124 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 the Certificate Insurer or such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), ) through (ii), (xv) and (xviiiiii) 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 forward to the Holders of the Residual Certificateholders 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 Residual 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 Bloomberg.
Appears in 1 contract
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, each Seller, the Master Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information obtained from the Mortgage Loan information contained in Servicer pursuant to the provision by the Servicer of its Remittance Report, Report (the Trustee shall (i“Distribution Date Statement”) prepare and 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, a statement as to the distributions to be made or made, as applicable, on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional Amount, separately identifiedprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identifiedinterest;
(iii) the Overcollateralization AmountSenior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Group for the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such following Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Due Period (without taking into account any reduction thereof in respect of Compensating Interest) and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection PeriodDue Period and the amount of unreimbursed Advances;
(vi) the Pool Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of the related Determination Date;
(vii) the Loan Group Balance and related Net WAC for each Loan Group at the close Close of business Business at the end of the related Collection Due Period;
(viiviii) the aggregate Principal Balance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [RESERVED];
(xi) for each Loan Group the number, weighted average remaining term to maturity and weighted average Mortgage Interest Loan Rate of the related Mortgage Loans as of the related Due Date;
(viiixii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans in the aggregate and for each Loan Group (a) 30 to 59 days past due on a contractual basisDelinquent, (b) 60 to 89 days past due on a contractual basisDelinquent, (c) 90 or more days past due on a contractual basisDelinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy bankruptcy, in each case as of the close of business on the last day of the preceding calendar month preceding such Distribution Datemonth;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xxiii) the book value of any REO Property as of the close Close of business 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 in each Loan Group as of the close Close of business Business of the last day of the preceding Collection Due Period;
(xixiv) the aggregate amount of Principal Prepayments and the Net Realized Losses for each Class of Certificates on such Distribution Date, with respect to each Loan Group made during the related Prepayment Period;
(xii) 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;
(xiiixv) the aggregate amount of Realized Losses incurred during the related Collection Due Period and the cumulative amount of Realized Losses;
(xivxvi) the Class Certificate Principal Balance or Notional Amountof each Class of Certificates and the Apportioned Principal Balances of the Subordinate Certificates after giving effect to any distributions made thereon, as applicable, on such Distribution Date;
(xvii) the Interest Distributable Amount in respect 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 Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution Date, 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 amount of any LIBOR Carryover AmountsDate;
(xvixviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution DateShortfalls, to the extent not covered by payments by the Servicer pursuant to Section 3.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date Unpaid Interest Shortfall Amount, and the amounts remaining after giving effect to distributions thereof on Interest Shortfall for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the Available Funds with respect to the distribution of principal on such Distribution Dateeach Loan Group;
(xx) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues Pass-Through Rate for each Class of Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxivxxi) the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Servicer or each Seller during the related Collection Period Due Period, and indicating the relevant Section of this Agreement Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxii) the amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) current Recoveries allocable to each Loan Group; and
(xxvxxiv) cumulative Recoveries allocable to each Loan Group. The Securities Administrator will make the aggregate Principal Balance Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. The Securities Administrator’s obligations pursuant to this Section 5.04 are limited to the extent of its receipt of all necessary information from the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Servicer. 95 The Trustee and the Securities Administrator 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Securities Administrator shall forward 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.
(d) On or before January 31st of each year, the Servicer, on behalf of the Trust, shall provide the Securities Administrator with written notice listing all Distribution Date statements with respect to Distribution Dates occurring in the prior calendar year that were included in a Form 8-K filing pursuant to Section 3.28, provided however, that if no Form 10-K is required to be filed for such prior calendar year, no written notice shall be required. No later than March 15th of each year in which such written notice is provided by the Servicer to the Residual Certificateholders Securities Administrator, the Securities Administrator shall sign a copy certification (in the form attached hereto as Exhibit P), for the benefit of the reports forwarded to Person(s) signing the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation Form 10-K Certification, regarding certain aspects of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in forceForm 10-K Certification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Provident Fund Mort Loan Tr 2004 1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amountof the Class A Certificates, as applicable, of each the Mezzanine Certificates and the Class of C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Class A Certificates, the each Class B-3 of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Class A Certificates and each Class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;; and
(xxii) the rate at which interest accrues for 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;
(xxiii) Date and the Liquidation Report Pass- Through Rate applicable to each Class of Class A Certificates and each Class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
. The Trustee will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxx.xxxxxxxxxxxxxx.xx.xxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (Financial Asset Sec Corp Asset Backed Certs Series 2002-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the 109 Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance 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 Close of business Business at the end of the related Collection Due Period;
(viiviii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viiiix) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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;
Date and (ixD) 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 the Principal Balance of such Mortgage Loan as of the date it became an REO PropertyProperties;
(x) the book value total number and cumulative principal balance of any REO Property all Liquidated Mortgage Loans as of the close Close of business on Business of the last Business Day day of the calendar month preceding Prepayment Period, prior to the Distribution Date, and, cumulatively, reduction of each principal balance to zero;
(xi) 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 Collection Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Prepayment Charges collected (including amounts deposited Principal Prepayments in connection with full, the full or partial waiver aggregate amount of such Prepayment Charges pursuant to Section 3.01) Principal Prepayments in part and Net Liquidation Proceeds made during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X CertificatesPrepayment Period;
(xiii) the aggregate amount of Realized Losses incurred during the related Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvxvi) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvixvii) 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 3.23;
(xvii) the amount of the Trustee Fee paid3.26;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on Credit Enhancement Percentage for such Distribution Date;
(xix) 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;
(xx) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xxxxi) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balancein effect;
(xxixxii) the Available Funds;
(xxiixxiii) the rate at which interest accrues for 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;
(xxiii) Date and the Liquidation Report Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for such the immediately succeeding Distribution Date;
(xxiv) (A) the aggregate Principal Balance amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans purchased by to which such payments related) and (B) the Servicer or Seller 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 related Collection Prepayment Period (and indicating the Section number of this Agreement requiring or allowing Mortgage Loans to which such denials related) and (B) the purchase dollar amount of each the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such Mortgage Loandenials related);
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvxxvii) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usxxx xxx xxxxxxx can be obtained by calling the Trustee's customer service desk at (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Option One Mortgage Acceptance Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass- 121 Through Rate applicable to each Class of Floating Rate Certificates for the immediately succeeding Distribution Date;; and
(xxiii) payments, if any, made under the Liquidation Report for Cap Contract. The Trustee will make such Distribution Date;
statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the aggregate Principal Balance of Mortgage Loans purchased Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "hxxxx://xxx.xxxxxxxxxxxxxx.xx.xxx/xxxx". Assistance in using the website can be obtained by calling the Servicer or Seller during Trustee's customer service desk at (800) 735-7777. Parties that are unable to use the related Collection Period 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 the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), ) through (ii), (xv) and (xviiiiii) 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 forward 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 Residual 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 (Fremont Home Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to the Mortgage Loan Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information contained in provided to the Remittance ReportMaster Servicer by the Servicer), the Trustee Trust Administrator shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Credit Risk Manager, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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;
(xiiixi) the aggregate amount of Realized Losses incurred during the related Collection 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;
(xii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiii) the Certificate Principal Balance of each Class of Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(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 Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered the Fixed Rate Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Fixed Rate Certificates and the Floating Rate 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 amount of any LIBOR Carryover Amounts;
(xvixv) 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 3.233.24;
(xvi) the Credit Enhancement Percentage for such Distribution Date;
(xvii) the Net WAC Rate Carryover Amount for the Fixed Rate Certificates and the Floating Rate Certificates, if any, for such Distribution Date and the amount of the Trustee Fee paidremaining unpaid after reimbursements therefor on such Distribution Date;
(xviii) whether the LIBOR Carryover Amounts distributed on Stepdown Date or a Trigger Event has occurred, the Delinquency Percentage for such Distribution Date and the amounts remaining after giving effect to distributions thereof on Realized Loss Percentage for such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect the total cashflows received and the general sources thereof;
(xx) the respective Pass-Through Rates applicable to the distribution of principal on Fixed Rate Certificates, the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Fixed Rate Certificates and the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Cap Contract and the cumulative Realized Losses, as a percentage amount distributed to each Class of Certificates from payments made under the original Pool Balance;
(xxi) the Available FundsCap Contract;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Date;any Net Swap Payments or Swap Termination Payments; and
(xxiii) the Liquidation Report applicable Record Date, Accrual Period and any other applicable determination dates for calculating distributions for such Distribution Date;
. The Trust Administrator will make such statement (xxivand, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the aggregate Principal Balance of Mortgage Loans purchased Master Servicer, the Servicer, the Depositor and the Rating Agencies via the Trust Administrator’s internet website. The Trust Administrator’s internet website shall initially be located at “xxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Servicer or Seller during Trust Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the related Collection Period above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16such. 95 The Trustee may fully rely upon and Trust Administrator shall have no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans above parties and the Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trust Administrator’s internet website, the Trust Administrator may require registration and the acceptance of a disclaimer. The Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Servicerdistribution 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 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 Trust Administrator shall prepare and make available information, separated for each Originator, regarding the performance of the Mortgage 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 Trustee shall 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), (ii), (xv) and (xviiiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee 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 Trustee Trust Administrator shall forward 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 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 Trustee Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Residual Certificateholders by the Trustee 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 (Soundview Home Loan Trust 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportMaster Servicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Master Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on 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 or reduction and the amount of Notional Amount, separately identifiedthe 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) with respect to each Loan Group, the Pool Balance related group balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) 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 Due DateDetermination Date and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 30 to 59 days, (2) 60 to 107 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 DateDate and (D) REO Properties;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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 Collection Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) 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, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each class of Class of Offered A Certificates, the Class B-3 each class of Mezzanine Certificates and the Class B-4 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, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for 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;
(xxiiiA) the Liquidation Report for 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 Distribution Datepayments 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);
(xxivA) the aggregate Principal Balance dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans purchased by to which such denials related) and (B) the Servicer or Seller during dollar amount of the related Collection Period cumulative claims made under the PMI Policy that were denied since the Closing Date (and indicating the Section number of this Agreement requiring or allowing the purchase of each Mortgage Loans to which such Mortgage Loan; anddenials related);
(xxv) the aggregate Principal Balance amount on deposit in the Pre-Funding Accounts, the Interest Coverage Accounts, the Excess Net WAC Rate Reserve Account and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon 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 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 (301) 815-6600. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 Servicerdistribution 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). 109 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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 (ii), (xv) and (xviiiiii) 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 forward to the Residual 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 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 Residual 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 (Option One Mort Accept Corp Asset Backed Certs Ser 2003 1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the Servicer and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Collection Due Period;
(vi) the Pool Balance at the close Close of business Business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due DateDetermination Date and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans that were (aA) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property[reserved];
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the preceding Collection Prepayment Period;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate Certificates and the Class C Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, distributions made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Certificates, the Class B-3 Floating Rate Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.26;
(xvii) the amount of the Trustee Fee paidCredit Enhancement Percentage for such Distribution Date;
(xviii) the LIBOR Net WAC Rate Carryover Amounts distributed on Amount for each Class of Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) whether when the Stepdown Date or a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balanceoccurred;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for respective Pass-Through Rates applicable to each Class of Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Liquidation Report for such Distribution DateCap Contract;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by amount on deposit in 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 LoanPre-Funding Accounts; and
(xxv) for the aggregate Principal Balance distribution occurring on the Distribution Date immediately following the end of the Funding 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 repurchased by the Servicer (or an affiliate) during and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Collection Period in connection with Section 3.16Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 95 The Trustee may fully rely upon will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the Rating Agencies via the Trustee's internet website. The Trustee's internet website shall initially be located at "xxxxx://xxx.xxx.xx.xxx/invr". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (000) 000-0000. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 (Fremont Home Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Mortgage Loan information contained in the Remittance ReportServicer, the Trustee shall (i) prepare and forward by mail make available to each Holder of the Regular Certificates Certificates, the NIMS Insurer, the Credit Risk Manager, the Servicer, the Swap Provider and (ii) make available on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesthe Rating Agencies, a statement as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to principal or reduction of Notional Amount, separately identifiedPrepayment 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 or Class X Distributable Amountinterest, separately identified;
(iii) the Overcollateralization 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 Monthly Excess Interest Overcollateralized Amount and Monthly Excess Cashflow Amount for the Mortgage Pool for such Distribution Date;
(iv) [reserved]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 Collection PeriodDue Period (including the general purpose of such Advances);
(vi) the Pool aggregate Principal Balance at of the close Mortgage Loans and any REO Properties as of business at the end of the related Collection Due Period;
(vii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Determination Date;
(viii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (anot including a Liquidated Mortgage Loan as of the end of the Prepayment Period) that were (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 past due on a contractual basisdays, (b2) 60 to 89 days past due on a contractual basis, and (c3) 90 or more days past due on a contractual basisdays, (dB) as to which foreclosure proceedings have been commenced and Delinquent (e1) 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 DateDate and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 Stated Principal Balance of all REO Properties as of the close Close of business Business of the last day of the calendar month preceding Collection Periodthe related Distribution Date;
(xix) the aggregate amount of Principal Prepayments made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xi) the Delinquency Percentage, the Cumulative Loss Percentage and the Realized Loss Percentage;
(xii) 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 Collection 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;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Floating Rate 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 applicableLosses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the Accrued Certificate Monthly Interest Distributable Amount in respect of each Class of Offered Floating Rate Certificates, the Class B-3 X Certificates and the Class B-4 C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Floating Rate Certificates, the Class X Certificates and the Class C 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 amount of any LIBOR Carryover Amounts;
(xvi) 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 3.233.24;
(xvii) the amount Net WAC Rate Carryover Amount for each Class of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on Floating Rate Certificates, if any, for such Distribution Date and the amounts amount remaining unpaid after giving effect to distributions thereof reimbursements therefor on such Distribution Date;
(xviii) whether the Stepdown Date or a Trigger Event has occurred;
(xix) any Overcollateralization Deficiency after giving effect 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);
(xx) the respective Pass-Through Rates applicable to each Class of Floating Rate Certificates, the distribution Class X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of principal on such Floating Rate Certificates and Class X Certificates for the immediately succeeding Distribution Date;
(xxxxi) whether a Trigger Event has occurred and is continuingpayments, if any, made under the Basis Risk Cap Agreement and the cumulative Realized Losses, as a percentage of Interest Rate Cap Agreement and the original Pool Balance;
(xxi) amount distributed to the Available FundsFloating Rate Certificates from such payments;
(xxii) the rate at which interest accrues for each Class amount of Certificates for such Distribution Dateany Net Swap Payments or Swap Termination Payments paid to the Swap Provider;
(xxiii) the Liquidation Report for such Distribution Date;amount on deposit in the Interest Coverage Account; and
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection applicable Record Date, Accrual Period and indicating the Section of this Agreement requiring or allowing the purchase of each any other applicable determination dates for calculating distributions for such Mortgage Loan; and
(xxv) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16Distribution Date. 95 The Trustee may fully rely upon 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 located at wxx.xxxxxxx.xxx. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at 1-866-846-4526. 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 no liability with respect the right to information with respect change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the Mortgage Loans 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 ServicerDistribution 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. 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 “OTS Method”). The Servicer hereby represents and warrants to the Depositor that this delinquency recognition policy is not less restrictive than any delinquency recognition policy established by the primary safety and soundness regulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall 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), (ii), (xv) and (xviiiii) 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 forward 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 Residual 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 contained in the Remittance Report, the Trustee shall (i) prepare and forward by mail to each Holder of the Regular Certificates and (ii) make available post on its website at www.usbank.com/abs for access by exxx Xxxxxx xx xxx Regular Certificatesxxx.xxxxxxxx.xxx/xxxxxx, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal or reduction of Notional AmountPrincipal Balance, separately identifiedidentified and the amount of the distribution made on such Distribution Date to the Holders of the Class N Certificates allocable to Prepayment Charges, Servicer Prepayment Charge Payment Amounts and Transferor Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest or Class X Distributable Amount, separately identified;
(iii) the Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Interest Amount and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) [reserved]the aggregate amount of servicing compensation received by the Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances;
(vi) the Pool Balance Balance, at the close of business at the end of the related Collection Period;
(vii) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid Principal Balance principal balance of Mortgage Loans (a) 30 to 59 days past due on a contractual basis, (b) 60 to 89 days past due on a contractual basis, (c) 90 or more days past due on a contractual basis, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution 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 the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(x) 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 of business of the last day of the preceding Collection Period;
(xi) separately stated for each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) 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) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Collection Period and the cumulative amount of Realized Losses;
(xivxiii) the Certificate Principal Balance Balance, or Notional AmountPrincipal Balance, 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;
(xvxiv) the Accrued Certificate Interest in respect of each Class of Offered Certificates, the Class B-3 Certificates and the Class B-4 Certificates for such Distribution DateDate 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 and the amount of any LIBOR Carryover AmountsDate;
(xvixv) 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 3.23;
(xviixvi) 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 distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the 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 of 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 such Mortgage Loan; and
(xxv) 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. 95 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) 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.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was 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), (ii), (xv) and (xviii) 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 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 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 furnished to Residual 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 (Abfc Asset Backed Certificates Series 2003-Ahl1)