Exhibit 99.9(a)
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this "Assignment"),
dated of February 1, 2007, is entered into among Xxxxxx Xxxxxxx Capital I Inc.,
a Delaware corporation (the "Depositor"), Xxxxxx Xxxxxxx Mortgage Capital Inc.
("MSMCI"), IndyMac Bank, F.S.B., as seller (in such capacity, the "Seller") and
as servicer (in such capacity, the "Servicer"), LaSalle Bank National
Association ("LaSalle"), as trustee ("Trustee"), of Xxxxxx Xxxxxxx Mortgage Loan
Trust 2007-3XS (the "Trust"), and acknowledged by Xxxxx Fargo Bank, National
Association, as master servicer (in such capacity, the "Master Servicer") and as
securities administrator (in such capacity, the "Securities Administrator").
RECITALS
WHEREAS MSMCI, the Seller and the Servicer have entered into (a) a certain
Mortgage Loan Purchase and Warranties Agreement, dated as of September 1, 2006
(as amended or modified to the date hereof, the "Sale Agreement") and (b) a
certain Servicing Agreement, dated as of September 1, 2006 (as amended or
modified to the date hereof, the "Servicing Agreement" and, together with the
Sale Agreement, the "Agreements"), pursuant to which MSMCI has acquired certain
Mortgage Loans pursuant to the terms of the Sale Agreement and the Servicer has
agreed to service such Mortgage Loans pursuant to the terms of the Servicing
Agreement;
WHEREAS the Depositor has agreed, on the terms and conditions contained
herein, to purchase from MSMCI certain of the Mortgage Loans (the "Specified
Mortgage Loans") which are subject to the provisions of the Agreements and are
listed on the mortgage loan schedule attached as Exhibit I hereto (the
"Specified Mortgage Loan Schedule"); and
WHEREAS the Trustee, on behalf of the Trust, has agreed, on the terms and
conditions contained herein, to purchase from the Depositor the Specified
Mortgage Loans;
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) On and as of the date hereof, MSMCI hereby sells, assigns and
transfers to the Depositor all of its right, title and interest in the Specified
Mortgage Loans and all rights and obligations related thereto as provided under
the Agreement to the extent relating to the Specified Mortgage Loans, the
Depositor hereby accepts such assignment from MSMCI (the "First Assignment and
Assumption"), and the Seller hereby acknowledges the First Assignment and
Assumption.
MSMCI specifically reserves and does not assign to the Depositor hereunder
any and all right, title and interest in, to and under and all obligations of
MSMCI with respect to any Mortgage Loans subject to the Agreement which are not
the Specified Mortgage Loans.
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(b) On and as of the date hereof, immediately after giving effect to the
First Assignment and Assumption, the Depositor hereby sells, assigns and
transfers to the Trustee, on behalf of the Trust, all of its right, title and
interest in the Specified Mortgage Loans and all rights and obligations related
thereto as provided under the Agreements to the extent relating to the Specified
Mortgage Loans, and the Trustee, on behalf of the Trust, hereby accepts such
assignment from the Depositor (the "Second Assignment and Assumption"), and the
Seller hereby acknowledges the Second Assignment and Assumption.
(c) On and as of the date hereof, MSMCI represents and warrants to the
Depositor and the Trustee that MSMCI has not taken any action that would serve
to impair or encumber the respective ownership interests of the Depositor and
the Trustee in the Specified Mortgage Loans since the date of MSMCI's
acquisition of the Specified Mortgage Loans.
2. Recognition of Trustee
(a) From and after the date hereof, both MSMCI and the Seller shall note
the transfer of the Specified Mortgage Loans to the Trustee, in their respective
books and records and shall recognize the Trustee, on behalf of the Trust, as of
the date hereof, as the owner of the Specified Mortgage Loans, and Servicer
shall service the Specified Mortgage Loans for the benefit of the Trust pursuant
to the Servicing Agreement, the terms of which are incorporated herein by
reference. It is the intention of the Seller, the Servicer, the Depositor, the
Trustee and MSMCI that this Assignment shall be binding upon and inure to the
benefit of the Depositor, the Trustee and MSMCI and their respective successors
and assigns.
(b) Without in any way limiting the foregoing, the parties confirm that
this Assignment includes the rights relating to amendments or waivers under the
Agreements. Accordingly, the right of MSMCI to consent to any amendment of the
Agreement and its rights concerning waivers as set forth in Section 23 of the
Sale Agreement and Section 11.02 of the Servicing Agreement shall be
exercisable, to the extent any such amendment or waiver affects the Specified
Mortgage Loans or any of the rights under the Agreement with respect thereto
(other than the servicing of the Specified Mortgage Loans, which shall be
enforced by the Master Servicer) by the Trustee as assignee of MSMCI.
(c) 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 and Servicing Agreement dated as of the
date hereof among the Depositor, the Master Servicer, Xxxxx Fargo Bank, National
Association, as securities administrator (the "Securities Administrator") and
the Trustee (the "Pooling and Servicing 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 and (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
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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.
3. Representations and Warranties
(a) The Depositor 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 Seller or MSMCI other than those contained in the
Agreements or this Assignment.
(b) Each of the parties hereto represents and warrants that it is duly and
legally authorized to enter into this Assignment.
(c) Each of the parties hereto represents and warrants that this
Assignment 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 by general equitable principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law).
(d) The Seller hereby restates, as of February 28, 2007 (the "Closing
Date"), the representations and warranties set forth in Sections 9.01 and 9.02
of the Sale Agreement, with respect to each of the Specified Mortgage Loans that
were sold by it under the Sale Agreement, to and for the benefit of the
Depositor, the Trustee and the Trust, and by this reference incorporates such
representations and warranties herein, as of such date.
(e) The Servicer hereby restates, as of the Closing Date, the
representations and warranties set forth in Articles X and XIII of the Servicing
Agreement, with respect to each of the Specified Mortgage Loans it agreed to
service under the Servicing Agreement, to and for the benefit of the Depositor,
the Trustee and the Trust, and by this reference incorporates such
representations and warranties herein, as of such Closing Date.
(f) The Servicer hereby represents and warrants to the Trustee that, to
the extent the Mortgage Loans will be part of a REMIC, the Servicer shall
service the Mortgage Loans and any real property acquired upon default thereof
(including, without limitation, making or permitting any modification, waiver or
amendment of any term of any Mortgage Loan) in accordance with the Servicing
Agreement, but in no event in a manner that would (a) cause the REMIC to fail or
qualify as a REMIC or (b) result in the imposition of a tax upon the REMIC
(including, but not limited to, the tax on prohibited transactions as defined in
Section 860F(a)(2) of the Code, the tax on contributions to a REMIC set forth in
Section 860G(d) of the Code and the tax on "net income from foreclosure
property" as set forth in Section 860G(c) of the Code).
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4. The Servicer hereby acknowledges that Xxxxx Fargo Bank, National
Association has been appointed as the Master Servicer of the Specified Mortgage
Loans pursuant to the Pooling and Servicing Agreement and, therefore, has the
right to enforce all obligations of the Servicer under the Servicing Agreement.
Such rights 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 Servicer under the
Servicing Agreement, the right to examine the books and records of the Servicer,
indemnification rights and the right to exercise certain rights of consent and
approval of MSMCI. The Servicer shall make all distributions under the Servicing
Agreement 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: 50989600, MSM 2007-3XS
The Servicer shall deliver all reports required to be delivered under the
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 2007-3XS
Telecopier: (000) 000-0000
5. Amendments to the Servicing Agreement
The parties to this Assignment hereby agree to amend the Servicing
Agreement as follows:
(a) With respect to the Specified Mortgage Loans, "Permitted
Investments" shall have the meaning of such term as defined in the
Pooling and Servicing Agreement.
(b) The definition of "Eligible Account" is hereby inserted into
Section 1.01:
"Eligible Account: Any of (i) an account or accounts maintained with a
federal or state chartered depository institution or trust company, the
short-term unsecured debt obligations of which (or, in the case of a depository
institution or trust company that is the principal subsidiary of a holding
company, the debt obligations of such holding company) have the highest
short-term ratings of Xxxxx'x or Fitch and one of the two highest short-term
ratings of S&P, if S&P is a Rating Agency, at the time any amounts are held on
deposit therein, or (ii) an account or accounts in a depository institution or
trust company in which such accounts are insured by the FDIC (to the limits
established by the FDIC) and the uninsured deposits in which accounts are
otherwise secured such that, as evidenced by an Opinion of Counsel delivered to
the Trustee and to each Rating Agency, the Certificateholders have a claim with
respect to the funds in such
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account or a perfected first priority security interest against any collateral
(which shall be limited to Permitted Investments) securing such funds that is
superior to claims of any other depositors or creditors of the depository
institution or trust company in which such account is maintained, or (iii) a
trust account or accounts maintained with (a) the trust department of a federal
or state chartered depository institution or (b) a trust company, acting in its
fiduciary capacity or (iv) any other account acceptable to each Rating Agency."
(c) The definition of "Remittance Date" in Section 1.01 is hereby
amended and restated in its entirety as follows:
"Remittance Date: No later than 1:00 p.m. New York time on the 18th day of
each month (or, if such 18th day is not a Business Day, the following Business
Day) beginning with the first Remittance Date after the Closing Date."
(d) The definition of "Servicing Fee" in Section 1.01 is hereby
amended and restated in its entirety as follows:
"Servicing Fee: With respect to each Mortgage Loan subject to this
Agreement, an amount equal to one-twelfth of the product of (a) the Servicing
Fee Rate and (b) the scheduled principal balance of such Mortgage Loan payable
monthly. Such fee shall be payable monthly. The obligation of the Purchaser to
pay the Servicing Fee is limited to, and the Servicing Fee is payable solely
from, the interest portion (including recoveries with respect to interest from
Liquidation Proceeds, to the extent permitted by Section 4.03) of such Monthly
Payment collected by the Servicer, or as otherwise provided under Section 4.03."
(e) With respect to each Specified Mortgage Loan, the definition of
"Servicing Fee Rate" in Section 1.01 is hereby amended and restated
in its entirety as follows:
"Servicing Fee Rate: 25 basis points (0.25%) per annum."
(f) The second and third sentences of the first paragraph of Section
2.04 are amended and restated in their entirety as follows:
"The Custodial Account shall be an Eligible Account established with a
Qualified Depository acceptable to the Purchaser. Any funds deposited in the
Custodial Account shall at all times be fully insured."
(g) The second sentence of the last paragraph of Section 2.04 is
amended and restated in its entirety as the following two sentences:
"The Servicer may at its option invest the amounts on deposit in the
Custodial Account in Permitted Investments. Any income from Permitted
Investments paid on funds deposited in the Custodial Account by the depository
institution shall accrue to the benefit of the Servicer and the Servicer shall
be entitled to retain and withdraw such interest from the Custodial Account
pursuant to Section 2.05."
(h) The word "and" is deleted from the end of Section 2.05(iii) of
each Agreement, the word "and" is added at the end of Section
2.05(iv) of each Agreement and the following paragraph is hereby
incorporated into each Agreement as new Section 2.05(v):
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"to reimburse itself for unreimbursed Servicing Advances and
unreimbursed advances made in accordance with Section 3.03, to the extent that
such amounts are nonrecoverable by the Servicer pursuant to subclause (ii)
above, provided that the Mortgage Loan for which such advances were made is not
required to be repurchased by the Seller pursuant to Section 9.03 of the Sale
Agreement."
(i) The second and third paragraphs of Section 2.16 of the Servicing
Agreement are hereby amended and restated in their entirety as
follows:
"With respect to any REO Property, the deed or certificate of sale shall
be taken in the name of the Purchaser, or its designee. The Trustee's name shall
be placed on the title to such REO Property solely as the Trustee hereunder and
not in its individual capacity. The Servicer shall ensure that the title to such
REO Property references the Agreement and the Purchaser's capacity thereunder.
Pursuant to its efforts to sell such REO Property, the Servicer shall either
itself or through an agent selected by the Servicer protect and conserve such
REO Property in the same manner and to such extent as is customary in the
locality where such REO Property is located and may, incident to its
conservation and protection of the interests of the Purchaser, or its designee,
rent the same, or any part thereof, as the Servicer deems to be in the best
interest of the Purchaser, or its designee, for the period prior to the sale of
such REO Property. The Servicer shall prepare for and deliver to the Purchaser,
or its designee, a statement with respect to each REO Property that has been
rented showing the aggregate rental income received and all expenses incurred in
connection with the maintenance of such REO Property at such times as is
necessary to enable the Purchaser, or its designee, to comply with the reporting
requirements of the REMIC Provisions. The net monthly rental income, if any,
from such REO Property shall be deposited in the Custodial Account no later than
the close of business on each Determination Date. The Servicer shall perform the
tax reporting and withholding required by Sections 1445 and 6050J of the Code
with respect to foreclosures and abandonments, the tax reporting required by
Section 6050H of the Code with respect to the receipt of mortgage interest from
individuals and any tax reporting required by Section 6050P of the Code with
respect to the cancellation of indebtedness by certain financial entities, by
preparing such tax and information returns as may be required, in the form
required, and delivering the same to the Purchaser, or its designee, for filing.
In the event that the Purchaser, or its designee, acquires any Mortgaged
Property as aforesaid or otherwise in connection with a default or imminent
default on a Mortgage Loan, the Servicer shall dispose of such Mortgaged
Property as soon as practicable in a manner that maximizes the Liquidation
Proceeds thereof, but in no event later than three years after its acquisition
by the Purchaser, or its designee. In that event, the Purchaser, or its
designee, shall have been supplied with an Opinion of Counsel to the effect that
the holding by the Purchaser, or its designee, of such Mortgaged Property
subsequent to a three-year period, if applicable, will not result in the
imposition of taxes on "prohibited transactions" of any REMIC as defined in
section 860F of the Code or cause any REMIC to fail to qualify as a REMIC at any
time, the Purchaser, or its designee, may continue to hold such Mortgaged
Property (subject to any conditions contained in such Opinion of Counsel) after
the expiration of such three-year period. Notwithstanding any other provision of
this Agreement, no Mortgaged Property acquired by the Purchaser, or its
designee, shall be rented (or allowed to continue to be rented) or otherwise
used for the production of income by or on behalf of the Purchaser, or its
designee, in such a manner or pursuant to any terms that would (i) cause such
Mortgaged Property to fail to qualify as
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"foreclosure property" within the meaning of section 860G(a)(8) of the Code or
(ii) subject any REMIC to the imposition of any federal, state or local income
taxes on the income earned from such Mortgaged Property under Section 860G(c) of
the Code or otherwise, unless the Servicer has agreed to indemnify and hold
harmless the Purchaser, or its designee, with respect to the imposition of any
such taxes."
(j) The first sentence of Section 2.18 of the Servicing Agreement is
hereby amended to replace the words "Business Day of each month"
with the words "calendar day of each month (or, if such 10th day is
not a Business Day, the following Business Day)"
(k) The first paragraph of Section 3.02 of the Servicing Agreement
is hereby amended and restated in its entirety as follows:
"Each month, no later than the 10th calendar day of each month, the
Servicer shall furnish to the Master Servicer a remittance report, in the form
of Exhibit II hereto (the "Remittance Report"), and such other mortgage loan
level data or information as mutually agreed upon by the Servicer and the Master
Servicer, in electronic format acceptable to the Master Servicer, in each case
with respect to funds being remitted to the Master Servicer on the related
Remittance Date."
(l) The second paragraph of Section 3.01 of the Servicing Agreement
is hereby amended and restated in its entirety as follows:
"With respect to any funds deposited in the Custodial Account after the
Business Day on which such deposit was required to be made, the Servicer shall
pay to the Purchaser interest on any such late payment at an annual rate equal
to the Prime Rate, adjusted as of the date of each change, plus two percentage
points, but in no event greater than the maximum amount permitted by applicable
law. Such interest shall be deposited in the Custodial Account by the Servicer
on the date such late payment is made and shall cover the period commencing with
such Business Day and ending with the Business Day on which such payment is
made, both inclusive. The payment by the Servicer of any such interest shall not
be deemed an extension of time for payment or a waiver of any Event of Default
by the Servicer."
(m) Section 3.03 of the Servicing Agreement is hereby amended and
restated in its entirety as follows:
"Advances by Servicer. On the Business Day immediately preceding each
Remittance Date, the Servicer shall (a) deposit in the Custodial Account from
its own funds an amount equal to all Monthly Payments which were due on the
Mortgage Loans during the applicable Due Period and which were delinquent at the
close of business on the immediately preceding Determination Date or which were
deferred pursuant to Section 2.01, (b) cause to be made an appropriate entry in
the records of the Custodial Account that amounts held for future distribution
have been, as permitted by this Section 3.03, used by the Servicer in discharge
of any such advance or (c) make advances in the form of any combination of (a)
or (b) aggregating the total amount of advances to be made. The Servicer's
obligation to make such advances as to any Mortgage Loan will continue through
the earlier to occur of (a) the last Monthly Payment due prior to the payment in
full of the Mortgage Loan or (b) the last Remittance Date prior to the
Remittance Date for the distribution of all Liquidation Proceeds and other
payments or recoveries (including Insurance Proceeds, and Condemnation Proceeds)
with respect to the
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Mortgage Loan; provided, however, that such obligation shall cease if the
Servicer, in its good faith judgment, determines that an advance would not be
recoverable pursuant to Section 2.05(ii). The determination by the Servicer that
an advance, if made, would be nonrecoverable, shall be evidenced by an Officer's
Certificate of the Servicer, delivered to the Purchaser, which details the
reasons for such determination. To the extent permitted under Section 2.05
hereof, the Servicer shall be entitled to first priority reimbursement for
principal and interest advances and for Servicing Advances from recoveries from
the related Mortgagor or from all Liquidation Proceeds and other payments or
recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect
to the related Mortgage Loan."
(n) Sections 4.04 and 4.05 of the Servicing Agreement are hereby
deleted.
(o) the following paragraph is hereby incorporated into the
Servicing Agreement as new Section 11.01(h):
"(h) failure by the Servicer to duly perform, within the required time
period, its obligations under Sections 13.04 and 13.05 which failure continues
unremedied for a period of fourteen (14) days;"
(p) The following paragraph is hereby incorporated into the
Servicing Agreement as new Section 12.16:
"Third Party Beneficiary. For purposes of this Agreement, including but
not limited to Sections 13.04 and 13.05, any Master Servicer shall be considered
a third party beneficiary to this Agreement entitled to all the rights and
benefits accruing to any Master Servicer herein as if it were a direct party to
this Agreement. In addition, a copy of all assessments, attestations, reports
and certifications required to be delivered by the Servicer under this Agreement
and the Servicing Agreement 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."
(q) Section 13.03(d) of the Servicing Agreement is hereby amended and
restated in its entirety as follows:
"(d) For the purpose of satisfying the reporting obligation under
the Exchange Act with respect to any class of asset-backed
securities, each Seller and the Servicer shall (or shall cause each
Subservicer and Third-Party Originator to) (i) provide prompt notice
to the Purchaser, any Master Servicer and any Depositor in writing
of (A) any material litigation or governmental proceedings involving
the Servicer, any Subservicer or any Third-Party Originator, (B) any
affiliations or relationships that develop following the closing
date of a Securitization Transaction between the Servicer, any
Subservicer or any Third-Party Originator and any of the parties
specified in clause (D) of paragraph (a) of this Section (and any
other parties identified in writing by the requesting party) with
respect to such Securitization Transaction, (C) any Event of Default
under the terms of this Agreement or any Reconstitution Agreement,
(D) any merger, consolidation or sale of substantially all of the
assets of the Servicer, and (E) the Servicer's entry into an
agreement with a Subservicer to perform or assist in the performance
of
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any of the Servicer's obligations under this Agreement or any
Reconstitution Agreement and (ii) provide to the Purchaser and any
Depositor a description of such proceedings, affiliations or
relationships."
(r) Section 13.03(f) of the Servicing Agreement is hereby amended and
restated in its entirety as follows:
"(f) In addition to such information as the Servicer, as servicer,
is obligated to provide pursuant to other provisions of this
Agreement, not later than ten days prior to the deadline for the
filing of any distribution report on Form 10-D in respect of any
Securitization Transaction that includes any of the Mortgage Loans
serviced by the Servicer or any Subservicer, the Servicer or such
Subservicer, as applicable, shall, to the extent the Servicer or
such Subservicer has knowledge, provide to the party responsible for
filing such report (including, if applicable, the Master Servicer)
notice of the occurrence of any of the following events along with
all information, data, and materials related thereto as may be
required to be included in the related distribution report on Form
10-D (as specified in the provisions of Regulation AB referenced
below):
(i) any material modifications, extensions or waivers of
pool asset terms, fees, penalties or payments during the
distribution period or that have cumulatively become material
over time (Item 1121(a)(11) of Regulation AB);
(ii) material breaches of pool asset representations or
warranties or transaction covenants (Item 1121(a)(12) of
Regulation AB); and
(iii) information regarding new asset-backed securities
issuances backed by the same pool assets, any pool asset
changes (such as, additions, substitutions or repurchases),
and any material changes in origination, underwriting or other
criteria for acquisition or selection of pool assets (Item
1121(a)(14) of Regulation AB).
(g) The Servicer 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 Servicer or any Subservicer or the Servicer or such
Subservicer's performance hereunder."
(s) Section 13.05(a)(iv) of the Servicing Agreement is hereby amended and
restated in its entirety as follows:
"(iv) deliver, and cause each subservicer and subcontractor
described in clause (iii) above to deliver, to the Purchaser, any
Depositor and any other Person that will be responsible for signing the
certification (a "Sarbanes Certification") required by Rules 13a-14(d) and
15d-14(d) under the Exchange Act (pursuant to Section 302 of the
Xxxxxxxx-Xxxxx Act of 2002) on behalf of an asset-backed issuer with
respect to a
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Securitization Transaction a certification, signed by an appropriate
officer of the Servicer, in the form attached hereto as Exhibit 7."
(t) Section 13.06(a) of the Servicing Agreement is hereby amended to add
Sections 13.03(f) and 13.03(g) as provisions that the Subservicers must
comply with to same extent as if such Subservicer were the Servicer.
(u) The last sentence of the last paragraph of Section 13.06 of the
Servicing Agreement is amended to require the Servicer to cause any
Subservicer or Subcontractor to provide any assessment of compliance and
attestation but also any other certifications required to delivered under
this Section 13.06.
(v) Section 13.07(a)(ii) of the Servicing Agreement is hereby amended and
restated in its entirety as follows:
"(ii) any breach by the Seller or Servicer under, or any failure by
any Seller, the Servicer, any Subservicer, any Subcontractor or any
Third-Party Originator to deliver any information, report, certification,
accountants' letter or other material when and as required, under this
Article XIII, including any failure by the Servicer to identify pursuant
to Section 13.06(b) any Subcontractor "participating in the servicing
function" within the meaning of Item 1122 of Regulation AB;"
(w) The word "or" is struck at the end of Section 13.07(a)(ii) of the
Servicing Agreement and the following is inserted to Section 13.07(a) of
the Servicing Agreement:
"(iv) negligence, bad faith or willful misconduct of the Servicer in
connection with its performance under this Article XIII.
If the indemnification provided for herein is unavailable or
insufficient to hold harmless an Indemnified Party, then the Servicer
agrees that it shall contribute to the amount paid or payable by such
Indemnified Party as a result of any claims, losses, damages or
liabilities incurred by such Indemnified Party in such proportion as is
appropriate to reflect the relative fault of such Indemnified Party on the
one hand and the Servicer on the other.
This indemnification shall survive the termination of this Agreement
or the termination of any party to this Agreement."
(x) The following parenthetical is inserted directly before the proviso in
the last sentence of the first paragraph of Section 13.07(b)(i) of the
Servicing Agreement:
(y) "(and if the Servicer is servicing any of the Mortgage Loans in
a Securitization Transaction, appoint a successor servicer
reasonably acceptable to the Master Servicer for such Securitization
Transaction)"
(z) Exhibit 1 to the Servicing Agreement is hereby deleted and
replaced with Exhibit II to this Assignment.
(aa) Exhibit 7 to the Servicing Agreement is hereby deleted and
replaced with Exhibit III to this Assignment.
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(bb) Exhibit 8 to the Servicing Agreement is hereby deleted and
replaced with Exhibit IV to this Assignment.
(cc) Written notice provided in compliance with Sections 13.03(d),
(e) or (f) of the Servicing Agreement shall be substantially in the
form of Exhibit V to this Assignment.
6. Indemnification
The Master Servicer shall indemnify and hold harmless the Servicer and its
affiliates, and in each case, its officers, directors and agents from and
against any losses, damages, penalties, fines, forfeitures, reasonable legal
fees and related costs, judgments and other costs and expenses arising out of or
based upon a breach by the Master Servicer or any of its officers, directors,
agents or affiliates of its obligations in connection with the preparation,
filing and certification of any Form 10-K pursuant to the Pooling and Servicing
Agreement or the negligence, bad faith or willful misconduct of the Master
Servicer in connection therewith. In addition, the Master Servicer shall
indemnify and hold harmless the Servicer and its affiliates, and in each case,
its officers, directors and agents from and against any losses, damages,
penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments and other costs and expenses arising out of or based upon a breach by
any Servicer (as defined in the Pooling and Servicing Agreement), other than the
Servicer (as defined herein), of its obligations in connection with any back-up
certification (or any other back-up documents) to any certification of any Form
10-K required to be provided by the Master Servicer, but solely to the extent
the Master Servicer receives amounts from such Servicer in connection with any
indemnification provided by such Servicer (in each case as defined in the
Pooling and Servicing Agreement) to the Master Servicer.
7. Continuing Effect
Except as contemplated hereby, the Agreements shall remain in full force
and effect in accordance with their terms.
8. Governing Law
This Assignment and the rights and obligations hereunder shall be governed
by and construed in accordance with the internal laws of the State of New York.
9. Notices
Any notices or other communications permitted or required under the
Agreements to be made to the Depositor, MSMCI, the Master Servicer, the Seller,
the Servicer and the Trustee shall be made in accordance with the terms of the
Agreements and shall be sent to the Depositor and Trustee as follows:
In the case of MSMCI:
Xxxxxx Xxxxxxx Mortgage Capital Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
11
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-3XS
With a copy to:
Xxxxxx Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: General Counsel's Office
In the case of the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-3XS
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 2007-3XS
In the case of the Seller and the Servicer:
IndyMac Bank, F.S.B.
0000 X. Xxxxxxxx Xxxxxxxxx
Xxxxxxxx, Xxxxxxxxxx 00000
Attention: Secondary Marketing
or to such other address as may hereafter be furnished by the Depositor and the
Trustee to the parties in accordance with the provisions of the Agreements.
10. Ratification
Except as modified and expressly amended by this Assignment, the
Agreements are in all respects ratified and confirmed, and all terms, provisions
and conditions thereof shall be and remain in full force and effect.
11. Counterparts
This Assignment 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
12
Any capitalized term used but not defined in this Assignment has the same
meaning as in the Agreements.
[SIGNATURE PAGE FOLLOWS]
13
IN WITNESS WHEREOF, the parties hereto have executed this Assignment the
day and year 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
INDYMAC BANK, F.S.B.
By: /s/ Xxxx Xxxxxxxx
--------------------------------
Name: Xxxx Xxxxxxxx
Title: Vice President
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Xxxxxxxx Xxxxx
-----------------------------------
Name: Xxxxxxxx Xxxxx
Title: Vice President
LASALLE BANK, NATIONAL
ASSOCIATION, as Trustee of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2007-3XS
By: /s/ Xxxxx X. Xxxx
-----------------------------------
Name: Xxxxx X. Xxxx
Title: Assistant Vice President
EXHIBIT I
Mortgage Loan Schedule
[see Schedule A to Pooling and Servicing Agreement]
Exhibit IIA: Standard File Layout - Delinquency Reporting
--------------------------------- -------------------------------------------------------------- ----------- ----------------
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.
--------------------------------- -------------------------------------------------------------- ----------- ----------------
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 Delinquency Description
Code
--------------- -------------------------------------------------
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 (Last, First) 30
not separated by first and last name.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) or dollar signs ($) 11
payment that a borrower is expected to pay, P&I
constant.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by 4 Max length of 6 6
the Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_FEE_AMT The servicer's fee amount for a loan as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
NEW_PAY_AMT The new loan payment amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the 2 No commas(,) or dollar signs ($) 11
beginning of the processing cycle.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end 2 No commas(,) or dollar signs ($) 11
of the processing cycle.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
borrower's next payment is due to the Servicer, as
reported by Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
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(,) or dollar signs ($) 11
amount, if applicable.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
PIF_AMT The loan "paid in full" amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
Action Code Key: 15=Bankruptcy, 2
00xXxxxxxxxxxx, , 00xXXX,
63=Substitution,
ACTION_CODE The standard FNMA numeric code used to 65=Repurchase,70=REO
indicate the default/delinquent status of
a particular loan.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
INT_ADJ_AMT The amount of the interest adjustment as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar signs ($) 11
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) or dollar signs ($) 11
applicable.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at 2 No commas(,) or dollar signs ($) 11
the beginning of the cycle date to be passed
through to investors.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors 2 No commas(,) or dollar signs ($) 11
at the end of a processing cycle.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current cycle -- only
applicable for Scheduled/Scheduled Loans.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 11
service fee amount for the current cycle
as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle
-- only applicable for Actual/Actual
Loans.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
ACTL_NET_INT The actual gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current reporting cycle
as reported by the Servicer -- only
applicable for Actual/Actual Loans.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or dollar signs ($) 11
prepays on his loan as reported by the Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived 2 No commas(,) or dollar signs ($) 11
by the servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
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 alpha or 30
numeric
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or dollar signs ($) 11
advances made by Servicer.
------------------------ ---------------------------------------------------- --------- ----------------------------------- -------
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.
(dd)
(ee) 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. (ff) 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
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
EXHIBIT III
FORM OF ANNUAL CERTIFICATION
Re: The [ ] agreement dated as of [ ], 200[ ] (the
"Agreement"), among [IDENTIFY PARTIES]
I, ________________________________, the _____________________ of Wachovia
Mortgage Corporation, certify to [the Purchaser], [the Depositor], and the
[Master Servicer] [Securities Administrator] [Trustee], and their officers, with
the knowledge and intent that they will rely upon this certification, that:
(1) I have reviewed the servicer compliance statement of the Company provided
in accordance with Item 1123 of Regulation AB (the "Compliance Statement"), the
report on assessment of the Company's compliance with the servicing criteria set
forth in Item 1122(d) of Regulation AB and identified as the responsibility of
the Company on Exhibit B to the Regulation AB Compliance Addendum to the
Agreement (the "Servicing Criteria"), provided in accordance with Rules 13a-18
and 15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange
Act") and Item 1122 of Regulation AB (the "Servicing Assessment"), the
registered public accounting firm's attestation report provided in accordance
with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of
Regulation AB (the "Attestation Report"), and all servicing reports, officer's
certificates and other information relating to the servicing of the Mortgage
Loans by the Company during 200[ ] that were delivered by the Company to the
[Depositor] [Master Servicer] [Securities Administrator] [Trustee] pursuant to
the Agreement (collectively, the "Company Servicing Information");
(2) Based on my knowledge, the Company Servicing Information, taken as a
whole, does not contain any untrue statement of a material fact or omit to state
a material fact necessary to make the statements made, in the light of the
circumstances under which such statements were made, not misleading with respect
to the period of time covered by the Company Servicing Information;
(3) Based on my knowledge, all of the Company Servicing Information required
to be provided by the Company under the Agreement has been provided to the
[Depositor] [Master Servicer] [Securities Administrator] [Trustee];
(4) I am responsible for reviewing the activities performed by the Company as
servicer under the Agreement, and based on my knowledge and the compliance
review conducted in preparing the Compliance Statement and except as disclosed
in the Compliance Statement, the Servicing Assessment or the Attestation Report,
the Company has fulfilled its obligations under the Agreement in all material
respects; and
(5) The Compliance Statement required to be delivered by the Company pursuant
to the Agreement, and the Servicing Assessment and Attestation Report required
to be provided by the Company and by any Subservicer and Subcontractor pursuant
to the Agreement, have been provided to the [Depositor] [Master Servicer]. Any
material instances of noncompliance described in such reports have been
disclosed to the [Depositor] [Master Servicer]. Any material instance of
noncompliance with the Servicing Criteria has been disclosed in such reports.
Date:
------------------------------
By:
------------------------------
Name:
Title:
EXHIBIT IV
SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the
criteria identified as below as "Applicable Servicing Criteria";
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
----------------------------------------------------------------------------------------------------------------------
Reference Criteria
----------------------------------------------------------------------------------------------------------------------
General Servicing Considerations
----------------------------------------------------------------------------------------------------------------------
Policies and procedures are instituted to monitor any
performance or other triggers and events of default in X
1122(d)(1)(i) accordance with the transaction agreements.
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If any material servicing activities are outsourced to third parties,
policies and procedures are instituted to monitor the third party's X
1122(d)(1)(ii) performance and compliance with such servicing activities.
----------------------------------------------------------------------------------------------------------------------
Any requirements in the transaction agreements to
maintain a back-up servicer for the mortgage loans are
1122(d)(1)(iii) maintained.
----------------------------------------------------------------------------------------------------------------------
A fidelity bond and errors and omissions policy is in effect on the
party participating in the servicing function throughout the reporting X
period in the amount of coverage required by and otherwise in accordance
1122(d)(1)(iv) with the terms of the transaction agreements.
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Cash Collection and Administration
----------------------------------------------------------------------------------------------------------------------
Payments on mortgage loans are deposited into the appropriate custodial
bank accounts and related bank clearing accounts no more than two X
business days following receipt, or such other number of days specified
1122(d)(2)(i) in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Disbursements made via wire transfer on behalf of an obligor or to an X
1122(d)(2)(ii) investor are made only by authorized personnel.
----------------------------------------------------------------------------------------------------------------------
Advances of funds or guarantees regarding collections, cash flows or
distributions, and any interest or other fees charged for such advances, X
are made, reviewed and approved as specified in the transaction
1122(d)(2)(iii) agreements.
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
----------------------------------------------------------------------------------------------------------------------
Reference Criteria
----------------------------------------------------------------------------------------------------------------------
The related accounts for the transaction, such as cash reserve accounts
or accounts established as a form of overcollateralization, are
separately maintained (e.g., with respect to commingling of cash) as set X
1122(d)(2)(iv) forth in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Each custodial account is maintained at a federally insured depository
institution as set forth in the transaction agreements. For purposes of
this criterion, "federally insured depository institution" with respect X
to a foreign financial institution means a foreign financial institution
that meets the requirements of Rule 13k-1 (b)(1) of the Securities
1122(d)(2)(v) Exchange Act.
----------------------------------------------------------------------------------------------------------------------
1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. X
----------------------------------------------------------------------------------------------------------------------
Reconciliations are prepared on a monthly basis for all asset-backed
securities related bank accounts, including custodial accounts and related
bank clearing accounts. These reconciliations are (A) mathematically
accurate; (B) prepared within 30 calendar days after the bank statement
cutoff date, or such other number of days specified in the transaction X
agreements; (C) reviewed and approved by someone other than the person who
prepared the reconciliation; and (D) contain explanations for reconciling
items. These reconciling items are resolved within 90 calendar days of their
original identification, or such other number of days specified in the
transaction agreements.
1122(d)(2)(vii)
----------------------------------------------------------------------------------------------------------------------
Investor Remittances and Reporting
----------------------------------------------------------------------------------------------------------------------
Reports to investors, including those to be filed with the Commission, are
maintained in accordance with the transaction agreements and applicable
Commission requirements. Specifically, such reports (A) are prepared in
accordance with timeframes and other terms set forth in the transaction
agreements; (B) provide information calculated in accordance with the terms X
specified in the transaction agreements; (C) are filed with the Commission
as required by its rules and regulations; and (D) agree with investors' or
the trustee's records as to the total unpaid principal balance and number of
mortgage loans serviced by the Servicer.
1122(d)(3)(i)
----------------------------------------------------------------------------------------------------------------------
Amounts due to investors are allocated and remitted in accordance with
timeframes, distribution priority and other terms set forth in the X
1122(d)(3)(ii) transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Disbursements made to an investor are posted within two business days to
the Servicer's investor records, or such other number of days specified X
1122(d)(3)(iii) in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
----------------------------------------------------------------------------------------------------------------------
Reference Criteria
----------------------------------------------------------------------------------------------------------------------
Amounts remitted to investors per the investor reports agree with
cancelled checks, or other form of payment, or custodial bank X
1122(d)(3)(iv) statements.
----------------------------------------------------------------------------------------------------------------------
Pool Asset Administration
----------------------------------------------------------------------------------------------------------------------
Collateral or security on mortgage loans is maintained as
required by the transaction agreements or related X
1122(d)(4)(i) mortgage loan documents.
----------------------------------------------------------------------------------------------------------------------
Mortgage loan and related documents are safeguarded as required by the X
1122(d)(4)(ii) transaction agreements
----------------------------------------------------------------------------------------------------------------------
Any additions, removals or substitutions to the asset pool are made,
reviewed and approved in accordance with any conditions or requirements X
1122(d)(4)(iii) in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Payments on mortgage loans, including any payoffs, made in accordance
with the related mortgage loan documents are posted to the Servicer's
obligor records maintained no more than two business days after receipt, X
or such other number of days specified in the transaction agreements,
and allocated to principal, interest or other items (e.g., escrow) in
1122(d)(4)(iv) accordance with the related mortgage loan documents.
----------------------------------------------------------------------------------------------------------------------
The Servicer's records regarding the mortgage loans agree with the
Servicer's records with respect to an obligor's unpaid principal X
1122(d)(4)(v) balance.
----------------------------------------------------------------------------------------------------------------------
Changes with respect to the terms or status of an obligor's mortgage
loans (e.g., loan modifications or re-agings) are made, reviewed and
approved by authorized personnel in accordance with the transaction X
1122(d)(4)(vi) agreements and related pool asset documents.
----------------------------------------------------------------------------------------------------------------------
Loss mitigation or recovery actions (e.g., forbearance plans,
modifications and deeds in lieu of foreclosure, foreclosures and
repossessions, as applicable) are initiated, conducted and X
concluded in accordance with the timeframes or other requirements
1122(d)(4)(vii) established by the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
----------------------------------------------------------------------------------------------------------------------
Reference Criteria
----------------------------------------------------------------------------------------------------------------------
Records documenting collection efforts are maintained during the period
a mortgage loan is delinquent in accordance with the transaction
agreements. Such records are maintained on at least a monthly basis, or
such other period specified in the transaction agreements, and X
describe the entity's activities in monitoring delinquent mortgage loans
including, for example, phone calls, letters and payment rescheduling
plans in cases where delinquency is deemed temporary (e.g., illness or
1122(d)(4)(viii) unemployment).
----------------------------------------------------------------------------------------------------------------------
Adjustments to interest rates or rates of return for mortgage loans with
variable rates are computed based on the related mortgage loan X
1122(d)(4)(ix) documents.
----------------------------------------------------------------------------------------------------------------------
Regarding any funds held in trust for an obligor (such as escrow
accounts): (A) such funds are analyzed, in accordance with the
obligor's mortgage loan documents, on at least an annual basis, or such
other period specified in the transaction agreements; (B) interest on X
such funds is paid, or credited, to obligors in accordance with
applicable mortgage loan documents and state laws; and (C) such funds
are returned to the obligor within 30 calendar days of full repayment of
the related mortgage loans, or such other number of days specified
1122(d)(4)(x) in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Payments made on behalf of an obligor (such as tax or insurance
payments) are made on or before the related penalty or expiration dates,
as indicated on the appropriate bills or notices for such payments, X
provided that such support has been received by the servicer at least 30
calendar days prior to these dates, or such other number of days
1122(d)(4)(xi) specified in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Any late payment penalties in connection with any payment to be made on
behalf of an obligor are paid from the servicer's funds and not charged X
to the obligor, unless the late payment was due to the obligor's error
1122(d)(4)(xii) or omission.
----------------------------------------------------------------------------------------------------------------------
Disbursements made on behalf of an obligor are posted within two
business days to the obligor's records maintained by the servicer, or X
1122(d)(4)(xiii) such other number of days specified in the transaction agreements.
----------------------------------------------------------------------------------------------------------------------
Delinquencies, charge-offs and uncollectible accounts are
recognized and recorded in accordance with the X
1122(d)(4)(xiv) transaction agreements.
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
----------------------------------------------------------------------------------------------------------------------
Reference Criteria
----------------------------------------------------------------------------------------------------------------------
Any external enhancement or other support, identified in
Item 1114(a)(1) through (3) or Item 1115 of Regulation X
AB, is maintained as set forth in the transaction
1122(d)(4)(xv) agreements.
----------------------------------------------------------------------------------------------------------------------
[INDYMAC BANK, F.S.B.]
[NAME OF SUBSERVICER]
Date:
-----------------------------------------------------
By:
-----------------------------------------------------
Name:
Title:
EXHIBIT V
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 2007-3XS - SEC REPORT PROCESSING
RE: **Additional Form [ ] Disclosure**Required
Ladies and Gentlemen:
In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and
Servicing Agreement, dated as of December 1, 2005, as amended by the Assignment,
Assumption and Recognition Agreement dated as of [date], among Xxxxxx Xxxxxxx
Capital I Inc., as Depositor, IndyMac Bank, F.S.B., 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:
