Exhibit 99.14
EXECUTION COPY
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GSAA HOME EQUITY TRUST 2007-6
ASSET-BACKED CERTIFICATES
SERIES 2007-6
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
among
GS MORTGAGE SECURITIES CORP.,
as Assignor
DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE
FOR GSAA HOME EQUITY TRUST 2007-6
as Assignee
and
NATIONAL CITY MORTGAGE CO.,
as Servicer
and as acknowledged by
XXXXX FARGO BANK, NATIONAL ASSOCIATION,
as Master Servicer
Dated as of
May 30, 2007
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT made this 30th day
of May, 2007 (this "Assignment Agreement"), among National City Mortgage Co.,
an Ohio corporation (the "Servicer"), Deutsche Bank National Trust Company
("Deutsche Bank"), not in its individual capacity but solely as trustee (in
such capacity, the "Trustee") on behalf of GSAA Home Equity Trust 2007-6 (the
"Assignee") and GS Mortgage Securities Corp., a Delaware corporation (the
"Assignor" or "Depositor"), and as acknowledged by Xxxxx Fargo Bank, National
Association ("Xxxxx Fargo"), as master servicer (in such capacity, the "Master
Servicer").
WHEREAS, Xxxxxxx Sachs Mortgage Company ("GSMC") and the Servicer
have entered into the Second Amended and Restated Flow Seller's Warranties and
Servicing Agreement, dated as of January 1, 2006 (as amended, the "Servicing
Agreement"), pursuant to which the Servicer sold certain mortgage loans listed
on the mortgage loan schedule attached as an exhibit to the Servicing
Agreement;
WHEREAS, GSMC has assigned and conveyed certain mortgage loans (the
"Mortgage Loans"), which Mortgage Loans are subject to the provisions of the
Servicing Agreement, to the Assignor pursuant to an Assignment, Assumption and
Recognition Agreement, dated as of May 30, 2007 (the "GSMC Assignment
Agreement");
WHEREAS, the Assignee has agreed on certain terms and conditions to
purchase from the Assignor the Mortgage Loans acquired by the Assignor pursuant
to the GSMC Assignment Agreement, which Mortgage Loans are listed on the
mortgage loan schedule attached as Exhibit 1 hereto (the "Mortgage Loan
Schedule"); and
WHEREAS, pursuant to a Master Servicing and Trust Agreement, dated
as of April 1, 2007 (the "Trust Agreement"), among the Depositor, Deutsche
Bank, as Trustee and as a custodian, U.S. Bank National Association, as a
custodian, The Bank of New York Trust Company, National Association, as a
custodian and Xxxxx Fargo Bank, National Association, as Master Servicer,
securities administrator and as a custodian, the Assignor will transfer the
Mortgage Loans to the Assignee, together with the Assignor's rights under the
Servicing Agreement, to the extent relating to the Mortgage Loans (other than
the rights of the Assignor to indemnification thereunder).
NOW THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:
1. Assignment and Assumption.
(a) The Assignor hereby assigns to the Assignee, as of the date
hereof, all of its right, title and interest in and to the Mortgage Loans and
the GSMC Assignment Agreement (including without limitation the rights of GSMC
under the Servicing Agreement to the extent assigned to the Assignor under the
GSMC Assignment Agreement) from and after the date hereof, and the Assignee
hereby assumes all of the Assignor's obligations under the Servicing Agreement,
to the extent relating to the Mortgage Loans from and after the date hereof.
The
Servicer hereby acknowledges such assignment and assumption and hereby agrees
to the release of the Assignor from any obligations under the Servicing
Agreement from and after the date hereof, to the extent relating to the
Mortgage Loans.
(b) The Assignor represents and warrants to the Assignee that the
Assignor has not taken any action which would serve to impair or encumber the
Assignor's ownership interest in the Mortgage Loans since the date of the
Servicing Agreement.
(c) The Servicer and the Assignor shall have the right to amend,
modify or terminate the Servicing Agreement without the joinder of the Assignee
with respect to mortgage loans not conveyed to the Assignee hereunder,
provided, however, that such amendment, modification or termination shall not
affect or be binding on the Assignee.
2. Accuracy of Servicing Agreement. The Servicer and the Assignor
represent and warrant to the Assignee that (i) attached hereto as Exhibit 2 is
a true, accurate and complete copy of the Servicing Agreement, (ii) the
Servicing Agreement is in full force and effect as of the date hereof, (iii)
except as provided under the GSMC Assignment Agreement, the Servicing Agreement
has not been amended or modified in any respect and (iv) no notice of
termination has been given to the Servicer under the Servicing Agreement. The
Servicer, in its capacity as seller and/or servicer under the Servicing
Agreement further represents and warrants that the representations and
warranties contained in Section 3.1 of the Servicing Agreement are true and
correct as of the date hereof, and the representations and warranties regarding
the Mortgage Loans contained in Section 3.2 of the Servicing Agreement were
true and correct as of the Closing Date (as such term is defined in the
Servicing Agreement).
3. Recognition of Assignee.
(a) From and after the date hereof, the Servicer shall note the
transfer of the Mortgage Loans to the Assignee in its books and records, shall
recognize the Assignee as the owner of the Mortgage Loans and, notwithstanding
anything herein to the contrary, shall service all of the Mortgage Loans for
the benefit of the Assignee pursuant to the Servicing Agreement the terms of
which are incorporated herein by reference. It is the intention of the
Assignor, Servicer and Assignee that the Servicing Agreement shall be binding
upon and inure to the benefit of the Servicer and the Assignee and their
successors and assigns.
(b) The Servicer further acknowledges that, from and after the date
hereof, it (and any of its successors under the Servicing Agreement) will be
subject to the supervision of the Master Servicer and that the Master Servicer,
acting on behalf of the Trustee as the owner of the Mortgage Loans, shall have
the same rights as were assigned by GSMC, in its capacity as the original
"Purchaser" under the Servicing Agreement, to the Assignor under the GSMC
Assignment Agreement, and further assigned hereunder by the Assignor to the
Trustee, on behalf of the trust formed pursuant to the Trust Agreement. Such
rights that Master Servicer may enforce on behalf of the Trustee will include,
without limitation, the right to terminate the Servicer under the Servicing
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by the Servicer under the Servicing
Agreement, the right to receive all monthly reports and other data required to
be delivered by the
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Servicer under the Servicing Agreement and the right to exercise certain rights
of consent and approval relating to actions taken by the Servicer.
(c) All reports and other data required to be delivered by the
Servicer to the "Purchaser" under the Servicing Agreement shall be delivered to
the Master Servicer or the Trustee, as designated by the Trustee, at the
address set forth in Section 10 hereof. All remittances required to be made to
the Trustee, as the successor in interest to the Assignor under the Servicing
Agreement, shall be made instead to the Master Servicer by wire transfer to the
following account:
Xxxxx Fargo Bank, National Association
ABA #: 000000000
For credit to: SAS Clearing
Acct #: 0000000000
FFC to: GSAA 2007-6 Acct # 53154300
(d) Monthly Reporting
Notwithstanding anything to the contrary in the Servicing
Agreement, with respect to the Mortgage Loans, not later than the tenth (10th)
calendar day of each month (or if such tenth calendar day is not a Business
Day, the immediately succeeding Business Day), the Servicer shall furnish to
the Master Servicer (i) (a) monthly loan data in the format set forth in
Exhibit 3 hereto (or in such other format mutually agreed-upon between the
Servicer and the Master Servicer), (b) default loan data in the format set
forth in Exhibit 4 hereto (or in such other format mutually agreed-upon between
the Servicer and the Master Servicer) and (c) information regarding realized
losses and gains in the format set forth in Exhibit 5 hereto (or in such other
format mutually agreed-upon between the Servicer and the Master Servicer), in
each case relating to the period ending on the last day of the preceding
calendar month, (ii) all such information required pursuant to clause (i)(a)
above on a magnetic tape, electronic mail, or other similar media reasonably
acceptable to the Master Servicer and (iii) all supporting documentation with
respect to the information required under the preceding paragraph.
4. Representations and Warranties of the Assignee. The Assignee
hereby represents and warrants to the Assignor as follows:
(a) Decision to Purchase. 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
Servicer other than those contained in the Servicing Agreement or this
Assignment Agreement.
(b) Authority. The Assignee hereto represents and warrants that it
is duly and legally authorized to enter into this Assignment Agreement and to
perform its obligations hereunder and under the Servicing Agreement.
(c) Enforceability. The Assignee hereto represents and warrants
that this Assignment 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
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its legal, valid and binding obligation, enforceable 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 by general equitable principles (regardless of whether
such enforcement is considered in a proceeding in equity or at law).
5. Representations and Warranties of the Assignor. The Assignor
hereby represents and warrants to the Assignee as follows:
(a) Organization. The Assignor has been duly organized and is
validly existing as a corporation in good standing under the laws of the State
of Delaware with full power and authority (corporate and other) to enter into
and perform its obligations under the Servicing Agreement and this Assignment
Agreement.
(b) Enforceability. This Assignment Agreement has been duly
executed and delivered by the Assignor, and, assuming due authorization,
execution and delivery by each of the other parties hereto, constitutes a
legal, valid, and binding agreement of the Assignor, enforceable against it in
accordance with its terms, subject to bankruptcy, insolvency, reorganization,
moratorium, or other similar laws affecting creditors' rights generally and to
general principles of equity regardless of whether enforcement is sought in a
proceeding in equity or at law.
(c) No Consent. The execution, delivery and performance by the
Assignor of this Assignment Agreement and the consummation of the transactions
contemplated hereby do not require the consent or approval of, the giving of
notice to, the registration with, or the taking of any other action in respect
of, any state, federal or other governmental authority or agency, except such
as has been obtained, given, effected or taken prior to the date hereof.
(d) Authorization; No Breach. The execution and delivery of this
Assignment Agreement have been duly authorized by all necessary corporate
action on the part of the Assignor; neither the execution and delivery by the
Assignor of this Assignment Agreement, nor the consummation by the Assignor of
the transactions herein contemplated, nor compliance by the Assignor with the
provisions hereof, will conflict with or result in a breach of, or constitute a
default under, any of the provisions of the governing documents of the Assignor
or any law, governmental rule or regulation or any material judgment, decree or
order binding on the Assignor or any of its properties, or any of the
provisions of any material indenture, mortgage, deed of trust, contract or
other instrument to which the Assignor is a party or by which it is bound.
(e) Actions; Proceedings. There are no actions, suits or
proceedings pending or, to the knowledge of the Assignor, threatened, before or
by any court, administrative agency, arbitrator or governmental body (A) with
respect to any of the transactions contemplated by this Assignment Agreement or
(B) with respect to any other matter that in the judgment of the Assignor will
be determined adversely to the Assignor and will, if determined adversely to
the Assignor, materially adversely affect its ability to perform its
obligations under this Assignment Agreement.
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It is understood and agreed that the representations and warranties
set forth in this Section 5 shall survive delivery of the respective mortgage
loan documents to the Assignee or its designee and shall inure to the benefit
of the Assignee and its assigns notwithstanding any restrictive or qualified
endorsement or assignment. Upon the discovery by the Assignor or the Assignee
and its assigns of a breach of the foregoing representations and warranties,
the party discovering such breach shall give prompt written notice to the other
parties to this Assignment Agreement, and in no event later than two (2)
Business Days from the date of such discovery. It is understood and agreed that
the obligations of the Assignor set forth in Section 6 to repurchase a Mortgage
Loan constitute the sole remedies available to the Assignee and its assigns on
their behalf respecting a breach of the representations and warranties
contained in this Section 5.
It is understood and agreed that, with respect to the Mortgage
Loans, the Assignor has made no representations or warranties to the Assignee
other than those contained in this Section 5, and no other affiliate of the
Assignor has made any representations or warranties of any kind to the
Assignee.
6. Repurchase of Mortgage Loans. (a) To the extent that NatCity is
required under the Sale Agreement or any related agreement to which NatCity and
Assignor are parties to repurchase any Mortgage Loan on account of an Early
Payment Default, the Assignee shall be entitled as a result of the assignments
hereunder to enforce such obligation directly against NatCity as required by
and in accordance with the Sale Agreement or such related agreement, as
applicable. For purposes of this Section, "Early Payment Default" shall mean
any provision of the Sale Agreement or any related agreement to which NatCity
and Assignor are parties that is designated as an "early payment default"
provision of otherwise provides for the repurchase of any Mortgage Loan in the
event of a default in the first (of such other number as may be specified in
such provision) scheduled payment due under such Mortgage Loan after the
closing or other date specified in such agreement.
(b) Upon discovery or notice of any breach by the Assignor of any
representation, warranty or covenant under this Assignment Agreement that
materially and adversely affects the value of any Mortgage Loan or the interest
of the Assignee therein (it being understood that any such defect or breach
shall be deemed to have materially and adversely affected the value of the
related Mortgage Loan or the interest of the Assignee therein if the Assignee
incurs a loss as a result of such defect or breach), the Assignee promptly
shall request that the Assignor cure such breach and, if the Assignor does not
cure such breach in all material respects within sixty (60) days from the date
on which it is notified of the breach, the Assignee may enforce the Assignor's
obligation hereunder to purchase such Mortgage Loan from the Assignee at the
Repurchase Price as defined in the Servicing Agreement. Notwithstanding the
foregoing, however, if such breach is a Qualification Defect as defined in the
Servicing Agreement, such cure or repurchase must take place within
seventy-five (75) days of discovery of such Qualification Defect.
In the event the Servicer has breached a representation or warranty
under the Servicing Agreement that is substantially identical to, or covers the
same matters as, a representation or warranty breached by the Assignor
hereunder, the Assignee shall first proceed against the Servicer. If the
Servicer does not within ninety (90) days after notification of the breach,
take steps to cure such breach (which may include certifying to progress made
and
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requesting an extension of the time to cure such breach, as permitted under the
Servicing Agreement) or purchase the Mortgage Loan, the Assignee shall be
entitled to enforce the obligations of the Assignor hereunder to cure such
breach or to purchase the Mortgage Loan from the Trust. In such event, the
Assignor shall succeed to the rights of the Assignee to enforce the obligations
of the Servicer to cure such breach or repurchase such Mortgage Loan under the
terms of the Servicing Agreement with respect to such Mortgage Loan. In the
event of a repurchase of any Mortgage Loan by the Assignor, the Trustee shall
promptly deliver to the Assignor or its designee the related Mortgage File and
shall assign to the Assignor all of the Assignee's rights under the Servicing
Agreement, but only insofar as the Servicing Agreement relates to such Mortgage
Loan.
Except as specifically set forth herein, the Assignee shall have no
responsibility to enforce any provision of this Assignment Agreement, to
oversee compliance hereof, or to take notice of any breach or default thereof.
7. Termination; Optional Clean-Up Call.
In connection with the Trust Agreement, the Master Servicer hereby
agrees to the following obligations described below. For purposes of this
Section 7 only, any capitalized term used but not defined in this Assignment
Agreement has the same meaning assigned thereto in the Trust Agreement.
In the event that a Person or Persons specified in Section 11.01 of
the Trust Agreement chooses to exercise its option set forth therein to
purchase the Mortgage Loans and REO Properties or to conduct an Auction Call
for such property of the Trust Fund, as the case may be, by no later than the
10th day of the month of the final distribution, such Person shall notify the
Depositor, the Trustee and the Securities Administrator of the final
Distribution Date and of the applicable purchase or sale price of the Mortgage
Loans and REO Properties determined and in the manner as provided in the Trust
Agreement.
In the event the Mortgage Loans and REO Properties are purchased or
sold pursuant to Section 11.01 of the Trust Agreement, the Master Servicer
shall remit to the Securities Administrator the applicable Termination Price on
the Remittance Date immediately preceding the applicable final Distribution
Date. Upon such final deposit with respect to the Trust Fund and the receipt by
the Securities Administrator and the Custodians of a Request for Release
therefor, the Master Servicer shall direct the Custodians to release to the
Master Servicer or its designee the Custodial Files for the Mortgage Loans.
8. Continuing Effect. Except as contemplated hereby, the Servicing
Agreement shall remain in full force and effect in accordance with their
respective terms.
9. Governing Law.
THIS ASSIGNMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS HEREUNDER
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF).
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EACH PARTY HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS
ASSIGNMENT AGREEMENT, OR ANY OTHER DOCUMENTS AND INSTRUMENTS EXECUTED IN
CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER ORAL OR WRITTEN), OR ACTIONS OF SUCH PARTY. THIS PROVISION IS A
MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS ASSIGNMENT AGREEMENT.
10. Notices. Any notices or other communications permitted or
required hereunder or under the Servicing Agreement shall be in writing and
shall be deemed conclusively to have been given if personally delivered at or
mailed by registered mail, postage prepaid, and return receipt requested or
transmitted by telex, telegraph or telecopier and confirmed by a similar mailed
writing, to:
(a) in the case of the Servicer,
National City Mortgage Co.
0000 Xxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Attn: Xxxx Xxxx Xxxxxxxx
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
or such other address as may hereafter be furnished by the Servicer;
(b) in the case of the Master Servicer,
Xxxxx Fargo Bank, National Association
X.X. Xxx 00
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - GSAA 2007-6
or in the case of overnight deliveries:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - GSAA 2007-6
or such other address as may hereafter be furnished by the Master Servicer;
(c) in the case of the Assignee,
Deutsche Bank National Trust Company
0000 Xxxx Xx. Xxxxxx Xxxxx
Xxxxx Xxx, Xxxxxxxxxx 00000-0000
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Attention: Trust Administration - GS0706
Tel.: (000) 000-0000
or such other address as may hereafter be furnished by the Assignee, and
(d) in the case of the Assignor,
GS Mortgage Securities Corp.
00 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx Xxxxxxx
Tel.: (000) 000-0000
Fax: (000) 000-0000
or such other address as may hereafter be furnished by the Assignor.
11. Counterparts. This Assignment Agreement may be executed in
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
instrument.
12. Definitions. Any capitalized term used but not defined in this
Assignment Agreement has the meaning assigned thereto in the Servicing
Agreement.
13. Trustee Capacity. It is expressly understood and agreed by the
parties hereto that (i) this Assignment Agreement is executed and delivered by
Deutsche Bank, not individually or personally but solely on behalf of GSAA Home
Equity Trust 2007-6, as the Assignee, in the exercise of the powers and
authority conferred and vested in it, (ii) each of the representations,
undertakings and agreements by Deutsche Bank is made and intended for the
purpose of binding only the GSAA Home Equity Trust 2007-6, (iii) nothing herein
contained shall be construed as creating any liability for Deutsche Bank,
individually or personally, to perform any covenant (either express or implied)
contained herein, and all such liability, if any, is hereby expressly waived by
the parties hereto, and such waiver shall bind any third party making a claim
by or through one of the parties hereto, and (iv) under no circumstances shall
Deutsche Bank be personally liable for the payment of any indebtedness or
expenses of the GSAA Home Equity Trust 2007-6, or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or
undertaken by the GSAA Home Equity Trust 2007-6 under this Assignment
Agreement, the Trust Agreement or any related document.
14. Third Party Beneficiary. The parties agree that the Master
Servicer is intended to be, and shall have the rights of, a third party
beneficiary of this Assignment Agreement.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have executed this
Assignment Agreement the day and year first above written.
GS MORTGAGE SECURITIES CORP.
By: /s/ Xxxxxxxx Xxxx
--------------------------------
Name: Xxxxxxxx Xxxx
Title: Vice President
DEUTSCHE BANK NATIONAL TRUST COMPANY,
not in its individual capacity but
solely as Trustee
By: /s/ Xxx Xxxxx
--------------------------------
Name: Xxx Xxxxx
Title: Authorized Signer
NATIONAL CITY MORTGAGE CO.
By: /s/ Xxxxxx X. Xxxxxx
--------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Senior Vice President
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL ASSOCIATION,
as Master Servicer
By: /s/ Xxxxxx Xxxx
----------------------------
Name: Xxxxxx Xxxx
Title: Vice President
NatCity Step 2 AAR
EXHIBIT 1
Mortgage Loan Schedule
[On File with the Securities Administrator as provided by the Depositor]
1-1
EXHIBIT 2
Servicing Agreement
[On File with the Depositor]
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EXHIBIT 3
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Standard Loan Level File Layout - Master Servicing
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Max
Column Name Description Decimal Format Comment Size
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Each file requires the following fields:
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SER_INVESTOR_NBR A value assigned by the Servicer to define Text up to 20 digits
a group of loans. 20
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LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits
by the investor. 10
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SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits
Servicer. This may be different than the 10
LOAN_NBR.
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SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or
interest payment that a borrower is dollar signs ($) 11
expected to pay, P&I constant.
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NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6
Servicer. 6
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NET_INT_RATE The loan gross interest rate less the 4 Max length of 6
service fee rate as reported by the 6
Servicer.
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SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6
reported by the Servicer. 6
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SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or
reported by the Servicer. dollar signs ($) 11
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NEW_PAY_AMT The new loan payment amount as reported by 2 No commas(,) or
the Servicer. dollar signs ($) 11
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NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6
Servicer. 6
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ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6
calculate a forecasted rate. 6
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ACTL_BEG_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or
the beginning of the processing cycle. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or
the end of the processing cycle. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY
that the borrower's next payment is due to 10
the Servicer, as reported by Servicer.
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SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or
dollar signs ($) 11
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SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY
first curtailment amount. 10
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CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or
curtailment amount, if applicable. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or
dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY
second curtailment amount. 10
------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or
curtailment amount, if applicable. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
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Exhibit 1: Continued Standard Loan Level File Layout
------------------------------------------------------------------------------------------------------------------
Max
Column Name Description Decimal Format Comment Size
------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or
dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY
third curtailment amount. 10
------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or
curtailment amount, if applicable. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as reported 2 No commas(,) or
by the Servicer. dollar signs ($) 11
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PIF_DATE The paid in full date as reported by the MM/DD/YYYY
Servicer. 10
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Action Code Key:
ACTION_CODE The standard FNMA numeric code used to 15=Bankruptcy, 2
indicate the default/delinquent status of a 30=Foreclosure, ,
particular loan. 60=PIF,
63=Substitution,
65=Repurchase,70=REO
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INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or
reported by the Servicer. dollar signs ($) 11
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SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or
if applicable. dollar signs ($) 11
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NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or
applicable. dollar signs ($) 11
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LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or
loss, if applicable. dollar signs ($) 11
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Plus the following applicable fields:
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SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount 2 No commas(,) or
due at the beginning of the cycle date to dollar signs ($) 11
be passed through to investors.
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SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or
investors at the end of a processing cycle. dollar signs ($) 11
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SCHED_PRIN_AMT The scheduled principal amount as reported 2 No commas(,) or
by the Servicer for the current cycle -- dollar signs ($) 11
only applicable for Scheduled/Scheduled
Loans.
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SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or
the service fee amount for the current dollar signs ($) 11
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
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ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or
the Servicer for the current reporting dollar signs ($) 11
cycle -- only applicable for Actual/Actual
Loans.
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ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or
service fee amount for the current dollar signs ($) 11
reporting cycle as reported by the Servicer
-- only applicable for Actual/Actual Loans.
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PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or
prepays on his loan as reported by the dollar signs ($) 11
Servicer.
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PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or
waived by the servicer. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY
Modification for the loan. 10
------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can
be alpha or numeric 30
------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or
interest advances made by Servicer. dollar signs ($) 11
------------------------------------------------------------------------------------------------------------------
Flag to indicate if the repurchase of a Y=Breach
BREACH_FLAG loan is due to a breach of Representations N=NO Breach 1
and Warranties Let blank if N/A
------------------------------------------------------------------------------------------------------------------
-3-
EXHIBIT 4
Standard File Layout - Delinquency Reporting
*The column/header names in bold are the minimum fields Xxxxx Fargo must
receive from every Servicer
-------------------------------------------------------------------------------------------------------------------------------
Column/Header Name Description Decimal Format 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.
-------------------------------------------------------------------------------------------------------------------------------
PROP_ADDRESS Street 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 MM/DD/YYYY the
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 MM/DD/YYYY
approved by the courts
-------------------------------------------------------------------------------------------------------------------------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either MM/DD/YYYY
by Dismissal, Discharged and/or a Motion For Relief
Was Granted.
-------------------------------------------------------------------------------------------------------------------------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The MM/DD/YYYY
Servicer
-------------------------------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
End/Close
-------------------------------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Foreclosure
-------------------------------------------------------------------------------------------------------------------------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a MM/DD/YYYY
Foreclosure Action
-------------------------------------------------------------------------------------------------------------------------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to MM/DD/YYYY
occur.
-------------------------------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
borrower.
-------------------------------------------------------------------------------------------------------------------------------
EVICTION_COMPLETED_DATE The date the court revokes legal
possession of the MM/DD/YYYY property
from the borrower.
-------------------------------------------------------------------------------------------------------------------------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
LIST_DATE The date an REO property is listed at a particular MM/DD/YYYY
price.
-------------------------------------------------------------------------------------------------------------------------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the MM/DD/YYYY
Servicer.
-------------------------------------------------------------------------------------------------------------------------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to MM/DD/YYYY
close.
-------------------------------------------------------------------------------------------------------------------------------
-1-
-------------------------------------------------------------------------------------------------------------------------------
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 2
brokers 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 ($)
-------------------------------------------------------------------------------------------------------------------------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The MM/DD/YYYY
Pool Insurer
-------------------------------------------------------------------------------------------------------------------------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
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 ($)
-------------------------------------------------------------------------------------------------------------------------------
MOTION_FOR_RELIEF_DATE The date the Motion for Relief was filed 10 MM/DD/YYYY
-------------------------------------------------------------------------------------------------------------------------------
FRCLSR_BID_AMT The foreclosure sale bid amount 11 No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
FRCLSR_SALE_TYPE The foreclosure sales results: REO, Third Party,
Conveyance to HUD/VA
-------------------------------------------------------------------------------------------------------------------------------
REO_PROCEEDS The net proceeds from the sale of the REO property. No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
-2-
-------------------------------------------------------------------------------------------------------------------------------
BPO_DATE The date the BPO was done.
-------------------------------------------------------------------------------------------------------------------------------
CURRENT_FICO The current FICO score
-------------------------------------------------------------------------------------------------------------------------------
HAZARD_CLAIM_FILED_DATE The date the Hazard Claim was filed with the Hazard 10 MM/DD/YYYY
Insurance Company.
-------------------------------------------------------------------------------------------------------------------------------
HAZARD_CLAIM_AMT The amount of the Hazard Insurance Claim filed. 11 No commas(,)
or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
HAZARD_CLAIM_PAID_DATE The date the Hazard Insurance Company disbursed the 10 MM/DD/YYYY
claim payment.
-------------------------------------------------------------------------------------------------------------------------------
HAZARD_CLAIM_PAID_AMT The amount the Hazard Insurance Company paid on the 11 No commas(,)
claim. or dollar
signs ($)
-------------------------------------------------------------------------------------------------------------------------------
ACTION_CODE Indicates loan status Number
-------------------------------------------------------------------------------------------------------------------------------
NOD_DATE MM/DD/YYYY
-------------------------------------------------------------------------------------------------------------------------------
NOI_DATE MM/DD/YYYY
-------------------------------------------------------------------------------------------------------------------------------
ACTUAL_PAYMENT_PLAN_START_DATE MM/DD/YYYY
-------------------------------------------------------------------------------------------------------------------------------
ACTUAL_PAYMENT_ PLAN_END_DATE
-------------------------------------------------------------------------------------------------------------------------------
ACTUAL_REO_START_DATE MM/DD/YYYY
--------------------------------------------------------------------------------------------------------------------------------
REO_SALES_PRICE Number
--------------------------------------------------------------------------------------------------------------------------------
REALIZED_LOSS/GAIN As defined in the Servicing Agreement Number
----------------------------------------------------------------------------------------------------------------------------
Exhibit 2: 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:
-3-
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
-4-
Standard File Codes - Delinquency Reporting, Continued
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
-----------------------------------------------------------------
-5-
Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
-----------------------------------------------------------------
Status Status Description
Code
-----------------------------------------------------------------
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
-----------------------------------------------------------------
-6-
EXHIBIT 5
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.
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 Officer Certificate
* Unusual or extraordinary items may require further
documentation.
13. The total of lines 1 through 12.
Credits:
--------
14-21. Complete as applicable. Required documentation:
2-1
--------------------------------------------------------------------------------
Corporate Trust Services Xxxxx Fargo Bank, XX
XXXXX FARGO & CO Delinquency 0000 Xxx Xxxxxxxxx Xx.
Servicer Reporting Welcome Package Xxxxxxxx, Xxxxxxxx 00000
(000) 000-0000 (phone)
(000)000-0000 (fax)
--------------------------------------------------------------------------------
* 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 ( ).
--------------------------------------------------------------------------------
Corporate Trust Services Xxxxx Fargo Bank, XX
XXXXX FARGO & CO Delinquency 0000 Xxx Xxxxxxxxx Xx.
Servicer Reporting Welcome Package Xxxxxxxx, Xxxxxxxx 00000
(000) 000-0000 (phone)
(000)000-0000 (fax)
--------------------------------------------------------------------------------
Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
------------------------------- ----------------------------------- -----------------------------------------
Servicer Loan No. Servicer Name Servicer Address
------------------------------- ----------------------------------- -----------------------------------------
XXXXX FARGO BANK, NATIONAL ASSOCIATION 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)
--------------------------------------------------------------------------------
Corporate Trust Services Xxxxx Fargo Bank, XX
XXXXX FARGO & CO Delinquency 0000 Xxx Xxxxxxxxx Xx.
Servicer Reporting Welcome Package Xxxxxxxx, Xxxxxxxx 00000
(000) 000-0000 (phone)
(000)000-0000 (fax)
--------------------------------------------------------------------------------
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)
--------------------------------------------------------------------------------
Corporate Trust Services Xxxxx Fargo Bank, XX
XXXXX FARGO & CO Delinquency 0000 Xxx Xxxxxxxxx Xx.
Servicer Reporting Welcome Package Xxxxxxxx, Xxxxxxxx 00000
(000) 000-0000 (phone)
(000)000-0000 (fax)
--------------------------------------------------------------------------------
Escrow Disbursement Detail
------------------------------------------------------------------------------------------------------------
Type Period of
(Tax /Ins.) Date Paid Coverage Total Paid Base Amount Penalties Interest
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------
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