Exhibit 99.14a
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated
January 1, 2007, ("Agreement") among Xxxxxx Xxxxxxx Mortgage Capital Inc.
("Assignor"), Xxxxxx Xxxxxxx Capital I Inc. ("Assignee") and Xxxxx Fargo Bank,
National Association (in such capacity, the "Company") and acknowledged by
LaSalle Bank National Association ("LaSalle"), as trustee ("Trustee") of
Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-1XS (the "Trust"), and Xxxxx Fargo
Bank, National Association, as master servicer (or any successor master
servicer, the "Master Servicer"):
For and in consideration of the sum of TEN DOLLARS ($10.00) and
other valuable consideration the receipt and sufficiency of which hereby are
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. Assignment and Conveyance
The Assignor hereby conveys, sells, grants, transfers and assigns to the
Assignee all of the right, title and interest of the Assignor, as purchaser,
in, to and under (a) those certain mortgage loans listed on the schedule (the
"Mortgage Loan Schedule") attached hereto as Schedule I (the "Mortgage Loans")
and (b) except as described below, that certain Master Seller's Warranties and
Servicing Agreement dated as of April 1, 2006 (the "SWSA"), between the
Assignor, as purchaser (the "Purchaser"), and the Company, as servicer, solely
insofar as the SWSA relates to the Mortgage Loans. In connection with the
transfer of the Mortgage Loans hereunder, the Company agrees that, from and
after the date hereof, each Mortgage Loan transferred hereunder will be
subject to, and serviced under, the SWSA.
The Assignor specifically reserves and does not assign to the Assignee
hereunder any and all right, title and interest in, to and under and any
obligations of the Assignor with respect to any mortgage loans subject to the
SWSA which are not the Mortgage Loans set forth on the Mortgage Loan Schedule
and are not the subject of this Agreement.
2. Recognition of the Company
From and after the date hereof (the "Closing Date"), the Company shall
and does hereby recognize that the Assignor will transfer the Mortgage Loans
and assign its rights under the SWSA to the Assignee and that the Assignee
will thereafter transfer the Mortgage Loans and assign its rights under the
SWSA and this Agreement to the Trust created pursuant to a pooling and
servicing agreement, dated as of January 1, 2007 (the "Pooling Agreement"),
among the Assignee, Xxxxx Fargo Bank, National Association, as securities
administrator, the Master Servicer and the Trustee. The Company hereby
acknowledges and agrees that from and after the date hereof (i) the Trust will
be the owner of the Mortgage Loans, (ii) the Company shall look solely to the
Trust for performance of any obligations of the Assignor insofar as they
relate to the enforcement of the representations, warranties and covenants
with respect to the Mortgage Loans, (iii) the Trust (including the Trustee
and, with respect to the servicing of the Mortgage Loans, the Master Servicer
acting on the Trust's behalf) shall have all the rights and remedies available
to the Assignor, insofar as they relate to the Mortgage Loans, under the SWSA,
including, without limitation, the enforcement of the document delivery
requirements set forth in Section 2.01 of the SWSA, and shall be entitled to
enforce all of the obligations of the Company thereunder insofar as they
relate to the Mortgage Loans, and (iv) all references to the Owner (insofar as
they relate to the rights, title and interest and, with respect to obligations
of the Owner, only insofar as they relate to the enforcement of the
representations, warranties and covenants of the Company) under the SWSA
insofar as they relate to the Mortgage Loans, shall be deemed to refer to the
Trust. Neither the Company nor the Assignor shall amend or agree to amend,
modify, waive, or otherwise alter any of the terms or provisions of the SWSA
which amendment, modification, waiver or other alteration would in any way
affect the
Mortgage Loans or the Company's performance under the SWSA with respect to the
Mortgage Loans without the prior written consent of the Trustee and the Master
Servicer.
3. Notwithstanding any statement to the contrary in Section 2 above, the
Company shall and does hereby acknowledge that the indemnification
provisions set forth in Section 3.03, Section 8.01 and the first
instance of Section 9.01(f) of the SWSA shall be available to and for
the benefit of the Assignor, the Assignee and the Trust (including the
Trustee and the Master Servicer acting on the Trust's behalf), as
provided in the SWSA.
4. Representations and Warranties
a. The Assignee represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith
upon any statements or representations of the Assignor or the Company
other than those contained in the SWSA or this Agreement.
b. Each of the parties hereto represents and warrants that it is
duly and legally authorized to enter into this Agreement.
c. Each of the Assignor, Assignee and Company hereto represents
and warrants that this Agreement has been duly authorized, executed and
delivered by it and (assuming due authorization, execution and delivery
thereof by each of the other parties hereto) constitutes its legal,
valid and binding obligation, enforceable against it in accordance with
its terms, except as such enforcement may be limited by bankruptcy,
insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and with respect to the
Company, similar laws administered by the FDIC affecting the contract
obligations of insured banks and by general equitable principles
(regardless of whether such enforcement is considered in a proceeding in
equity or at law).
d. The Company hereby restates, as of the Closing Date (as defined
in the Pooling Agreement, the representations and warranties set forth
in Section 3.01 of the SWSA to and for the benefit of the Assignee and
the Trust, and by this reference incorporates such representations and
warranties herein, as of such Closing Date.
5. The Company hereby acknowledges that Xxxxx Fargo Bank, National
Association has been appointed as the Master Servicer of the Mortgage
Loans pursuant to the Pooling Agreement and, therefore, has the right to
enforce all obligations of the Company under the SWSA. Such rights will
include, without limitation, the right to terminate the Company under
the SWSA upon the occurrence of an event of default thereunder, the
right to receive all remittances required to be made by the Company
under the SWSA, the right to receive all monthly reports and other data
required to be delivered by the Company under the SWSA, the right to
examine the books and records of the Company, indemnification rights and
the right to exercise certain rights of consent and approval relating to
actions taken by the Assignor. The Company shall make all distributions
under the SWSA to the Master Servicer by wire transfer of immediately
available funds to:
Xxxxx Fargo Bank, National Association
ABA Number: 000-000-000
Account Name: Corporate Trust Clearing
Account number: 0000000000
For further credit to: 50981200, MSM 2007-1XS
The Company shall deliver all reports required to be delivered
under this Agreement to the Master Servicer at the following address:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager, MSM 2007-1XS
Telecopier: (000) 000-0000
6. Certain Matters Regarding the Trustee
Each party hereto hereby agrees as follows:
It is expressly understood and agreed by the parties hereto that (i)
this Assignment is executed and delivered by LaSalle Bank National
Association, not individually or personally but solely on behalf of the Trust,
as the assignee, in the exercise of the powers and authority conferred and
vested in it, as Trustee, pursuant to the Pooling Agreement, (ii) each of the
representations, undertakings and agreements herein made on the part of
assignee is made and intended not as personal representations, undertakings
and agreements by LaSalle Bank National Association but is made and intended
for the purpose of binding only the Trust, (iii) nothing herein contained
shall be construed as creating any liability for LaSalle Bank National
Association, individually or personally, to perform any covenant (either
express or implied) contained herein, (iv) under no circumstances shall
LaSalle Bank National Association be personally liable for the payment of any
indebtedness or expenses of the Trust, or be liable for the breach or failure
of any obligation, representation, warranty or covenant made or undertaken by
the Trust under this Assignment and (v) all recourse for any payment liability
or other obligation of the assignee shall be had solely to the assets of the
Trust.
7. Amendments to the SWSA
The parties to this Agreement hereby agree to amend the SWSA as follows:
a. With respect to Article I, "Permitted Investments" shall have
the meaning of such term as defined in the Pooling and Servicing
Agreement.
b. With respect to Article I, the definition of "Static Pool
Information" shall be inapplicable.
c. With respect to Article I, the definition of "Third-Party
Originator" shall be inapplicable.
d. Section 3.01(i) (Selection Process), Section 3.01(k) (Sale
Treatment) and Section 3.01(m) (No Broker's Fees) of the SWSA shall be
inapplicable.
e. Section 3.02 shall be inapplicable.
f. Section 4.05(vii) is hereby amended to add the term "Monthly
Advances," prior to the term "Servicing Advances."
g. The following is added as the second paragraph of Section 4.09:
"Amounts on deposit in the Custodial Account may at the option of
the Servicer be invested in Permitted Investments. Any such
Permitted Investment shall be made in the name of the Servicer in
trust for the benefit of the Owner. All income on or gain realized
from any such Permitted Investment shall be for the benefit of the
Servicer and may be withdrawn from the Custodial Account at any
time by the Servicer. Any losses incurred in respect of any such
investment shall be deposited in the Custodial Account, by the
Servicer out of its own funds immediately as realized."
h. The words "on or before the Remittance Date" are hereby deleted
from the first sentence of Section 4.17.
i. The second sentence of the second paragraph of Section 5.01 is
hereby amended and restated in its entirety as follows:
"Such interest shall be deposited in the Custodial Account by the
Company on the date such late payment is made and shall cover the
period commencing with the day following the Business Day on which
such payment was due and ending with the Business Day on which
such payment is made, both inclusive."
j. The first paragraph of Section 5.02 is hereby amended and
restated in its entirety as follows:
"Not later than the Remittance Report Date, the Company shall
furnish to the Purchaser in an electronic form the information
required by the reports attached hereto as Exhibit II, or a form
otherwise mutually agreed to by the Company and Purchaser, with a
trial balance report attached thereto, as to the remittance period
ending on the last day of the preceding month."
k. Section 6.05 is hereby deleted in its entirety.
l. The third clause of the first sentence of Section 6.07(ii) is
hereby amended and restated as follows:
"which continues unremedied for fourteen (14) calendar days after
the date on which such information,"
m. Section 9.01(e)(i) is hereby deleted in its entirety.
n. Section 9.01(e)(ii) is hereby deleted in its entirety.
o. Section 9.01(e)(iii) is amended to require the Company to
comply with the obligations thereof in connection with the purchase of
servicing rights for the Specified Mortgage Loans.
p. The following is added as the second paragraph of Section
9.01(e)(vii):
"The Company shall provide to the Purchaser, any Master Servicer
and any Depositor, evidence of the authorization of the person
signing any certification or statement, copies or other evidence
of Fidelity Bond Insurance and Errors and Omission Insurance
policy, financial information and reports, and such other
information related to the Company or any Subservicer or the
Company or such Subservicer's performance hereunder."
q. Section 9.01(f)(i)(A) is amended to change the cross-reference
regarding material provided in written or electronic form from "Section
9.01(f)" to "Section 9.01(e)".
r. Section 10.01(ii) is hereby amended and restated in its
entirety as follows:
"failure by the Company duly to observe or perform in any material
respect any other of the covenants or agreements on the part of
the Company set forth in this Agreement (other than as set forth
in Section 6.07) which continues unremedied for a period of 90
days after the date on which written notice of such failure,
requiring the same to be remedied, shall have been given to the
Company by the Purchaser or by the Custodian; or"
s. Written notice provided in compliance with Sections 9.01
(e)(iv), (v) and (vi) of the SWSA shall be substantially in the form of
Exhibit III to this Agreement.
8. Miscellaneous
A copy of all assessments, attestations, reports and certifications
required to be delivered by the Servicer under this Agreement and the SWSA
shall be delivered to the Master Servicer by the date(s) specified herein or
therein, and where such documents are required to be addressed to any party,
such addressees shall include the Master Servicer and the Master Servicer
shall be entitled to rely on such documents.
Any notices or other communications permitted or required under the
Agreement to be made to the Assignor, Assignee, the Master Servicer, the
Company, and the Trustee shall be made in accordance with the terms of the
Agreement and shall be sent to the Depositor and Trustee as follows:
In the case of the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-1XS
In the case of the Trustee:
LaSalle Bank National Association
000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attention: Global Securities and Trust Services MSM 2007-1XS
In the case of the Company:
Xxxxx Fargo Bank, N.A.
1 Home Xxxxxx
Xxx Xxxxxx, Xxxx 00000-0000
Attention: Xxxx X. Xxxxx, MAC#X2302-033
With a copy to
Xxxxx Fargo Bank, N.A.
0000 Xxx Xxxxxxx Xxx
Xxxxxxxxx, Xxxxxxxx 00000
Attention: Xxxxxx XxXxxxxx, MAC#X3901-01C
With a copy to:
Xxxxx Fargo Bank, N.A.
1 Home Campus
Xxx Xxxxxx, Xxxx 00000-0000
Attention: General Counsel, MAC#X2401-06T
9. This Agreement shall be construed in accordance with the laws of the
State of New York, without regard to conflicts of law principles, and
the obligations, rights and remedies of the parties hereunder shall be
determined in accordance with such laws.
10. No term or provision of this Agreement may be waived or modified unless
such waiver or modification is in writing and signed by the party
against whom such waiver or modification is sought to be enforced.
11. This Agreement shall inure to the benefit of (i) the successors and
assigns of the parties hereto and (ii) the Trust (including the Trustee
and the Master Servicer acting on the Trust's behalf). Any entity into
which Assignor, Assignee or Company may be merged or consolidated shall,
without the requirement for any further writing, be deemed Assignor,
Assignee or Company, respectively, hereunder.
12. Each of this Agreement and the SWSA shall survive the conveyance of the
Mortgage Loans and the assignment of the SWSA (solely with respect to
the Mortgage Loans) by Assignor to Assignee and nothing contained herein
shall supersede or amend the terms of the SWSA.
13. This Agreement may be executed simultaneously in any number of
counterparts. Each counterpart shall be deemed to be an original and all
such counterparts shall constitute one and the same instrument.
14. In the event that any provision of this Agreement conflicts with any
provision of the SWSA with respect to the Mortgage Loans, the terms of
this Agreement shall control.
15. Capitalized terms used in this Agreement (including the exhibits hereto)
but not defined in this Agreement shall have the meanings given to such
terms in the SWSA.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized officers as of the date first above written.
XXXXXX XXXXXXX MORTGAGE
CAPITAL INC.
By: /s/ Xxxxxxx Xxx
----------------------------
Name: Xxxxxxx Xxx
Title: Vice President
XXXXXX XXXXXXX CAPITAL I INC.
By: /s/ Xxxxxxx Xxx
----------------------------
Name: Xxxxxxx Xxx
Title: Vice President
XXXXX FARGO BANK, N.A.
By: /s/ Xxxxxx XxXxxxxx
----------------------------
Name: Xxxxxx XxXxxxxx
Title: Vice President
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Xxxxxx Xxxx
-----------------------------------
Name: Xxxxxx Xxxx
Title: Vice President
LASALLE BANK NATIONAL ASSOCIATION,
as Trustee of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2007-1XS
By: /s/ Xxxxx X. Xxxx
-----------------------------------
Name: Xxxxx X. Xxxx
Title: Assistant Vice President
Schedule I
Specified Mortgage Loan Schedule
[see Schedule A to the Pooling and Servicing Agreement
on file with the Servicer, the Master Servicer and the Depositor]
Exhibit IIA: Standard File Layout - Delinquency Reporting
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
Format
Column/Header Name Description Decimal Comment
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This
may be different than the LOAN_NBR
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOAN_NBR A unique identifier assigned to each loan by the originator.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
CLIENT_NBR Servicer Client Number
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
SERV_INVESTOR_NBR Contains a unique number as assigned by an external servicer
to identify a group of loans in their system.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BORROWER_FIRST_NAME First Name of the Borrower.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BORROWER_LAST_NAME Last name of the borrower.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
XXXX_XXXXXXX Xxxxxx Name and Number of Property
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
PROP_STATE The state where the property located.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
PROP_ZIP Zip code where the property is located.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment is due to the MM/DD/YYYY
servicer at the end of processing cycle, as reported
by Servicer.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy
filing.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY
by the courts
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either by MM/DD/YYYY
Dismissal, Discharged and/or a Motion For Relief Was
Granted.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the servicer with MM/DD/YYYY
instructions to begin foreclosure proceedings.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY
Action
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the property MM/DD/YYYY
from the borrower.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
OCCUPANT_CODE Classification of how the property is occupied.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
PROP_CONDITION_CODE A code that indicates the condition of the property.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
CURR_PROP_VAL The current "as is" value of the property based on brokers 2
price opinion or appraisal.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2
completed pursuant to a broker's price opinion or appraisal.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
If applicable:
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
DELINQ_REASON_CODE The circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in default for
this cycle.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage MM/DD/YYYY
Insurance Company.
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY
Insurer
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_A_CLAIM_FILED_DATE Date FHA Part A Claim Was Filed With HUD MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,)
or
dollar signs
($)
---------------------------------------- -------------------------------------------------------------- ----------- ----------------
Exhibit IIB: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
Xxxxx Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
The FNMA Delinquent Reason Code field should show the Reason for Delinquency
as follows:
------------------- --------------------------------------------
Delinquency Code Delinquency Description
------------------- --------------------------------------------
001 FNMA-Death of principal mortgagor
------------------- --------------------------------------------
002 FNMA-Illness of principal mortgagor
------------------- --------------------------------------------
003 FNMA-Illness of mortgagor's family member
------------------- --------------------------------------------
004 FNMA-Death of mortgagor's family member
------------------- --------------------------------------------
005 FNMA-Marital difficulties
------------------- --------------------------------------------
006 FNMA-Curtailment of income
------------------- --------------------------------------------
007 FNMA-Excessive Obligation
------------------- --------------------------------------------
008 FNMA-Abandonment of property
------------------- --------------------------------------------
009 FNMA-Distant employee transfer
------------------- --------------------------------------------
------------------- --------------------------------------------
011 FNMA-Property problem
------------------- --------------------------------------------
012 FNMA-Inability to sell property
------------------- --------------------------------------------
013 FNMA-Inability to rent property
------------------- --------------------------------------------
014 FNMA-Military Service
------------------- --------------------------------------------
015 FNMA-Other
------------------- --------------------------------------------
016 FNMA-Unemployment
------------------- --------------------------------------------
017 FNMA-Business failure
------------------- --------------------------------------------
019 FNMA-Casualty loss
------------------- --------------------------------------------
022 FNMA-Energy environment costs
------------------- --------------------------------------------
023 FNMA-Servicing problems
------------------- --------------------------------------------
026 FNMA-Payment adjustment
------------------- --------------------------------------------
027 FNMA-Payment dispute
------------------- --------------------------------------------
029 FNMA-Transfer of ownership pending
------------------- --------------------------------------------
030 FNMA-Fraud
------------------- --------------------------------------------
031 FNMA-Unable to contact borrower
------------------- --------------------------------------------
INC FNMA-Incarceration
------------------- --------------------------------------------
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
------------------- --------------------------------------------
Status Code Status Description
------------------- --------------------------------------------
09 Forbearance
------------------- --------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------- --------------------------------------------
24 Government Seizure
------------------- --------------------------------------------
26 Refinance
------------------- --------------------------------------------
27 Assumption
------------------- --------------------------------------------
28 Modification
------------------- --------------------------------------------
29 Charge-Off
------------------- --------------------------------------------
30 Third Party Sale
------------------- --------------------------------------------
31 Probate
------------------- --------------------------------------------
32 Military Indulgence
------------------- --------------------------------------------
43 Foreclosure Started
------------------- --------------------------------------------
44 Deed-in-Lieu Started
------------------- --------------------------------------------
49 Assignment Completed
------------------- --------------------------------------------
61 Second Lien Considerations
------------------- --------------------------------------------
62 Veteran's Affairs-No Bid
------------------- --------------------------------------------
63 Veteran's Affairs-Refund
------------------- --------------------------------------------
64 Veteran's Affairs-Buydown
------------------- --------------------------------------------
65 Chapter 7 Bankruptcy
------------------- --------------------------------------------
66 Chapter 11 Bankruptcy
------------------- --------------------------------------------
67 Chapter 13 Bankruptcy
------------------- --------------------------------------------
Exhibit IIC: Standard File Layout - Master Servicing
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
Column Name Description Decimal Format Comment Max Size
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SER_INVESTOR_NBR A value assigned by the Servicer to define a group Text up to 10 digits 20
of loans.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
LOAN_NBR A unique identifier assigned to each loan by the Text up to 10 digits 10
investor.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the
LOAN_NBR.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
BORROWER_NAME The borrower name as received in the file. It is Maximum length of 30 30
not separated by first and last name. (Last, First)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) 11
payment that a borrower is expected to pay, P&I or dollar signs ($)
constant.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by 4 Max length of 6 6
the Servicer.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_FEE_AMT The servicer's fee amount for a loan as reported 2 No commas(,) 11
by the Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
NEW_PAY_AMT The new loan payment amount as reported by the 2 No commas(,) 11
Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the 2 No commas(,) 11
beginning or dollar signs ($)
of the processing cycle.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end 2 No commas(,) 11
of the processing cycle. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
borrower's next payment is due to the Servicer, as
reported by Servicer.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) 11
or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_DATE_1 The curtailment date associated with the first MM/DD/YYYY 10
curtailment amount.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment 2 No commas(,) 11
amount, if applicable. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) 11
or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment 2 No commas(,) 11
amount, if applicable. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) 11
or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment 2 No commas(,) 11
amount, if applicable. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
PIF_AMT The loan "paid in full" amount as reported by the 2 No commas(,) 11
Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ACTION_CODE The standard FNMA numeric code used to indicate Action Code Key: 2
the default/delinquent status of a particular loan. 15=Bankruptcy,
30=Foreclosure,, 60=PIF,
63=Substitution,
65=Repurchase, 70=REO
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
INT_ADJ_AMT The amount of the interest adjustment as reported 2 No commas(,) 11
by the Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) 11
applicable. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) 11
or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) 11
applicable. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal aount due at 2 No commas(,) 11
the beginning of the cycle date to be passed through or dollar signs ($)
to investors.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors 2 No commas(,) 11
at the end of a processing cycle. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) 11
Servicer for the current cycle -- only applicable or dollar signs ($)
for Scheduled/Scheduled Loans.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) 11
service fee amount for the current cycle as reported or dollar signs ($)
by the Servicer - only applicable for Scheduled/
Scheduled Loans.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) 11
Servicer for the current reporting cycle -- only or dollar signs ($)
applicable for Actual/Actual Loans.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
ACTL_NET_INT The actual gross interest amount less the service 2 No commas(,) 11
fee amount for the current reporting cycle as or dollar signs ($)
reported by the Servicer -- only applicable for
Actual/Actual Loans.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) 11
prepays on his loan as reported by the Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived 2 No commas(,) 11
by the servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
MOD_DATE The Effective Payment Date of the Modification for MM/DD/YYYY 10
the loan.
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
MOD_TYPE The Modification Type. Varchar - value can be 30
alpha or numeric
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) 11
advances made by Servicer. or dollar signs ($)
----------------------------- ---------------------------------------------------- --------- --------------------------- ---------
Exhibit IID : Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and
all credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not being
passed until the following month. The Servicer is responsible to remit
all funds pending loss approval and /or resolution of any disputed
items.
(a)
(b) The numbers on the 332 form correspond with the numbers listed
below.
Liquidation and Acquisition Expenses:
1. The Actual Unpaid Principal Balance of the Mortgage Loan.
For documentation, an Amortization Schedule from date of
default through liquidation breaking out the net interest
and servicing fees advanced is required.
2. The Total Interest Due less the aggregate amount of
servicing fee that would have been earned if all delinquent
payments had been made as agreed. For documentation, an
Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees
advanced is required.
3. Accrued Servicing Fees based upon the Scheduled Principal
Balance of the Mortgage Loan as calculated on a monthly
basis. For documentation, an Amortization Schedule from date
of default through liquidation breaking out the net interest
and servicing fees advanced is required.
4-12. Complete as applicable. Required documentation:
* For taxes and insurance advances - see page 2 of 332 form
- breakdown required showing period of coverage, base tax,
interest, penalty. Advances prior to default require
evidence of servicer efforts to recover advances.
* For escrow advances - complete payment history (to
calculate advances from last positive escrow balance
forward)
* Other expenses - copies of corporate advance history
showing all payments * REO repairs > $1500 require
explanation * REO repairs >$3000 require evidence of at
least 2 bids.
* Short Sale or Charge Off require P&L supporting the
decision and WFB's approved Servicing Officer certification
* Unusual or extraordinary items may require further
documentation.
13. The total of lines 1 through 12. (c) Credits:
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale,
bid instructions and Escrow Agent / Attorney Letter of
Proceeds Breakdown. * Copy of EOB for any MI or gov't
guarantee * All other credits need to be clearly defined on
the 332 form
22. The total of lines 14 through 21.
Please Note: For HUD/VA loans, use line (18a) for Part
A/Initial proceeds and line (18b) for Part
B/Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
23. The total derived from subtracting line 22 from 13. If the
amount represents a realized gain, show the amount in
parenthesis ( ).
Exhibit IIE: Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
---------------------------------- -------------------------------------- --------------------------------------------
Servicer Loan No. Servicer Name Servicer Address
---------------------------------- -------------------------------------- --------------------------------------------
XXXXX FARGO BANK, N.A. Loan No._____________________________
Borrower's Name: _________________________________________________________
Property Address: _________________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount _______________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $ ______________
(1)
(2) Interest accrued at Net Rate ________________
(2)
(3) Accrued Servicing Fees ________________
(3)
(4) Attorney's Fees ________________
(4)
(5) Taxes (see page 2) ________________
(5)
(6) Property Maintenance _______________
(6)
(7) MI/Hazard Insurance Premiums (see page 2) ________________
(7)
(8) Utility Expenses ________________
(8)
(9) Appraisal/BPO ________________
(9)
(10) Property Inspections ________________
(10)
(11) FC Costs/Other Legal Expenses ________________
(11)
(12) Other (itemize) ________________
(12)
Cash for Keys__________________________ ________________
(12)
HOA/Condo Fees_______________________ ________________
(12)
______________________________________ ________________
(12)
Total Expenses $ ______________
(13)
Credits:
(14) Escrow Balance $ ______________
(14)
(15) HIP Refund ________________
(15)
(16) Rental Receipts ________________
(16)
(17) Hazard Loss Proceeds ________________
(17)
(18) Primary Mortgage Insurance / Gov't Insurance ________________
(18a) HUD Part A
________________
(18b) HUD Part B
(19) Pool Insurance Proceeds ________________
(19)
(20) Proceeds from Sale of Acquired Property ________________
(20)
(21) Other (itemize) ________________
(21)
_________________________________________ ________________
(21)
Total Credits $________________
(22)
Total Realized Loss (or Amount of Gain) $________________
(23)
Escrow Disbursement Detail
---------------- -------------- --------------- -------------- --------------- --------------- --------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
---------------- -------------- --------------- -------------- --------------- --------------- --------------
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---------------- -------------- --------------- -------------- --------------- --------------- --------------
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EXHIBIT III
Additional Disclosure Notification
Xxxxx Fargo Bank, N.A. as [Securities Administrator and Master Servicer]
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Fax: (000) 000-0000
E-mail: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
Attn: Corporate Trust Services - MSM 2007-1XS - SEC REPORT PROCESSING
RE: **Additional Form [ ] Disclosure**Required
Ladies and Gentlemen:
In accordance with Section 9.01(e) [iv][v][vi] of the Master Seller's
Warranties and Servicing Agreement, dated as of April 1, 2006, as amended by
the Assignment, Assumption and Recognition Agreement dated as of January 1,
2007 among Xxxxxx Xxxxxxx Capital I Inc., as Depositor, Xxxxx Fargo Bank,
National Association, as Servicer, Xxxxx Fargo Bank, National Association, as
Master Servicer, and LaSalle Bank National Association as Trustee. The
Undersigned hereby notifies you that certain events have come to our attention
that [will][may] need to be disclosed on Form [ ].
Description of Additional Form [ ] Disclosure:
List of Any Attachments hereto to be included in the Additional Form [ ]
Disclosure:
Any inquiries related to this notification should be directed to [ ],
phone number: [ ]; email address [ ] [NAME OF PARTY] as [role]
By: ____________________
Name:
Title: