Exhibit 10.3(D)
--------------
EXECUTION COPY
--------------
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
May 31, 2007, is among Bank of America, National Association, a national banking
association (the "Assignor"), Banc of America Funding Corporation, a Delaware
corporation ("BAFC"), U.S. Bank National Association, a national banking
association, not in its individual capacity, but solely, as trustee of the Banc
of America Funding 2007-4 Trust (the "Assignee"), GMAC Mortgage, LLC, a Delaware
limited liability company ("GMACM") and acknowledged by Xxxxx Fargo Bank, N.A.,
a national banking association ("Xxxxx Fargo Bank"), as master servicer of the
Banc of America Funding Trust 2007-4;
WHEREAS, pursuant to that certain Assignment, Assumption and Recognition
Agreement, dated as of August 4, 2004, by and among UBS Real Estate Securities
Inc., the Assignor, GMACM, as servicer and ABN AMRO Mortgage Group, Inc. (the
"UBS AAR Agreement"), which is attached in Appendix I hereto, the Assignor
purchased the Mortgage Loans (as defined herein) from UBS Real Estate Securities
Inc. and GMACM currently services the Mortgage Loans;
WHEREAS, GMACM has agreed to service the Mortgage Loans pursuant to (a)
that certain Master Flow Sale and Servicing Agreement, dated as of August 1,
2003, by and between the Assignor (as successor in interest to Banc of America
Mortgage Capital Corporation ("BAMCC")), as purchaser, and GMACM, as seller, (b)
that certain Global Amendment to Sale and Servicing Agreements, dated as of
September 1, 2005, by and among GMACM, BAMCC and the Assignor and (c) that
certain Regulation AB Compliance Addendum to the Master Flow Sale and Servicing
Agreement, dated as of January 1, 2006, by and between GMACM and the Assignor
(collectively, the "Sale and Servicing Agreement"), each of which is attached in
Appendix II hereto;
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee; and
WHEREAS, on the date hereof, Xxxxx Fargo Bank, as master servicer (in such
capacity, the "Master Servicer"), is entering into a Pooling and Servicing
Agreement, dated the date hereof (the "Pooling Agreement"), among BAFC, the
Master Servicer, Xxxxx Fargo Bank, as securities administrator (the "Securities
Administrator"), and the Assignee, pursuant to which the Master Servicer will
supervise, monitor and oversee the servicing of the Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to the Assignee, all of the right, title
and interest of the Assignor in, to and under the UBS AAR Agreement, the Sale
and Servicing Agreement and the mortgage loans delivered under the UBS AAR
Agreement to the Assignor and listed on Exhibit A attached hereto (the "Mortgage
Loans").
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the UBS AAR Agreement or the Sale and Servicing Agreement other than the
Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC, GMACM
and the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the full
right to transfer the Mortgage Loans free from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of, any
offsets, counterclaims or other defenses available to GMACM with
respect to the UBS AAR Agreement, the Sale and Servicing Agreement or
the Mortgage Loans;
c. The Assignor has not waived or agreed to any waiver under, or agreed
to any amendment or other modification of, the UBS AAR Agreement, the
Sale and Servicing Agreement or the Mortgage Loans. The Assignor has
no knowledge of, and has not received notice of, any waivers under or
amendments or other modifications of, or assignments of rights or
obligations under, the UBS AAR Agreement, the Sale and Servicing
Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage
Loans, any interest in the Mortgage Loans or any other similar
security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Mortgage Loans, any interest in the
Mortgage Loans or any other similar security from, or otherwise
approached or negotiated with respect to the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security with, any
person in any manner, or made any general solicitation by means of
general advertising or in any other manner, or taken any other action
which would constitute a distribution of the Mortgage Loans under the
Securities Act of 1933, as amended (the "Securities Act"), or which
would render the disposition of the Mortgage Loans a violation of
Section 5 of the Securities Act or require registration pursuant
thereto.
3. From and after the date hereof, GMACM shall (i) note the transfer of the
Mortgage Loans to the Assignee in its books and records, (ii) recognize the
Assignee as the owner of the Mortgage Loans and (iii) notwithstanding anything
to the contrary contained in the UBS AAR Agreement or the Sale and Servicing
Agreement, GMACM shall service the Mortgage Loans pursuant to the Sale and
Servicing Agreement, as modified by Section 8 hereof, for the benefit of the
Assignee.
2
4. GMACM acknowledges that a REMIC election will be made with respect to he
Mortgage Loans and that the Master Servicer, pursuant to the Pooling Agreement,
will administer on behalf of the Assignee the terms and conditions of the Sale
and Servicing Agreement with respect to the Mortgage Loans. The Master Servicer
shall be authorized to enforce directly against GMACM any of the obligations of
GMACM to the Assignor or its assignees provided for in the Sale and Servicing
Agreement relating to the Mortgage Loans including, without limitation, the
right to exercise any and all rights of the Assignor (but not the obligations)
under the Sale and Servicing Agreement to monitor and enforce the obligations of
GMACM thereunder, the right to terminate GMACM under the Sale and Servicing
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by GMACM under the Sale and
Servicing Agreement, the right to receive all monthly reports and other data
required to be delivered by GMACM under the Sale and Servicing Agreement, the
right to examine the books and records of GMACM, indemnification rights, and the
right to exercise certain rights of consent and approval relating to actions
taken by GMACM. All remittances by GMACM shall be made to the account or
accounts designated by the Master Servicer to GMACM in writing from time to
time. Wire remittances shall be sent to: XXXXX FARGO BANK, N.A., ABA# 000000000,
FOR CREDIT TO: SAS CLEARING, ACCT: 0000000000, FFC TO: BAFC 2007-4 # 53150800.
5. GMACM hereby represents and warrants to each of the other parties hereto
(i) that the representations and warranties of GMACM in Section 3.01 of the Sale
and Servicing Agreement are true and correct in all material respects as of the
date hereof with the same force and effect as though expressly made at and/or as
of the date hereof, (ii) that it has serviced the Mortgage Loans in accordance
with the terms of the UBS AAR Agreement, (iii) that it has taken no action nor
omitted to take any required action the omission of which would have the effect
of impairing any mortgage insurance or guarantee on the Mortgage Loans and (iv)
that any information provided by it on or before the date hereof to any of the
parties hereto is true and correct.
6. GMACM hereby agrees that, in connection with each Mortgage Loan of which
the related Mortgage has been recorded in the name of MERS or its designee, it
shall take all actions as are necessary to cause the Assignee, as trustee of the
Trust pursuant to the Pooling Agreement, to be shown as the owner of such
Mortgage Loan on the records of MERS for purposes of the system of recording
transfers of beneficial ownership of mortgages maintained by MERS.
7. GMACM, BAFC and the Assignee hereby agree to the following modifications
to the Sale and Servicing Agreement solely with respect to the Mortgage Loans:
a. Article I. The definition of "Qualified Substitute Mortgage Loan" is
hereby replaced in its entirety with the following:
"A mortgage loan eligible to be substituted by the Company for a
Deleted Mortgage Loan which must, on the date of such substitution (i)
have an outstanding principal balance, after deduction of all
scheduled payments due in the month of substitution (or in the case of
a substitution of more than one mortgage loan for a Deleted Mortgage
Loan, an aggregate principal balance), not in excess of the principal
3
balance of the Deleted Mortgage Loan; (ii) have a Mortgage Interest
Rate not less than, and not more than 1% greater than the Mortgage
Interest Rate of the Deleted Mortgage Loan; (iii) have a remaining
term to maturity not greater than and not more than one year less than
that of the Deleted Mortgage Loan; (iv) comply with each
representation and warranty set forth in Section 3.02; (v) be of the
same type as the Deleted Mortgage Loan; (vi) have a FICO score not
less than that of the Deleted Mortgage Loan, (vii) have an LTV not
greater than that of the Deleted Mortgage Loan; (viii) have a credit
grade not lower in quality than that of the Deleted Mortgage Loan and
(ix) have the same lien status as the Deleted Mortgage Loan."
b. Section 3.01(i). Section 3.01(i) is hereby amended by deleting
"corporation" and "Commonwealth of Pennsylvania" and replacing them
with "limited liability company" and "State of Delaware,"
respectively.
c. Section 3.01(iii). Section 3.01(iii) is hereby amended by deleting
"articles of incorporation or by-laws" and replacing them with
"limited liability agreement."
d. Section 5.02. The second paragraph of Section 5.02 is hereby replaced
in its entirety with the following:
"Not later than the fifth (5th) business day of each month, the
Company shall deliver to the Owner a monthly remittance advice in the
form set forth in Exhibit E-1, in a mutually agreeable electronic
format, as to the remittance on such Remittance Date and as to the
period ending on the last day of the month preceding such Remittance
Date, a delinquency report in the form set forth in Exhibit E-2, and a
realized loss report in the form set forth in Exhibit E-3, each in a
mutually agreeable electronic format."
The exhibits referenced in this Section 7(d) are attached to this
Agreement as Exhibit B hereto and replace Exhibit E to the Sale and
Servicing Agreement in its entirety.
e. Section 5.03. The last sentence of the first paragraph of Section 5.03
is hereby replaced in its entirety with the following:
"The Company's obligation to make P&I Advances as to any Mortgage Loan
shall continue through the earlier to occur of (a) the repurchase of
the Mortgage Loan by the Company pursuant to Section 3.03 and (b) the
Remittance Date following acquisition or disposition of title to the
related Mortgaged Property through foreclosure or by delivery of a
deed in lieu of foreclosure; provided, however, in connection with a
securitization as contemplated under Article XII, the Company shall be
obligated to make such advances through the Remittance Date prior to
the date on which cash is received in connection with the liquidation
of REO Property."
f. Section 6.07. Section 6.07 is hereby modified by replacing subsection
(ii) with the following:
4
"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 and the tax on "contributions" to a REMIC set
forth in Section 860G(d) of the Code) unless the Company has received
an opinion of counsel (at the expense of the party seeking to take
such action) to the effect that the contemplated action will not
endanger such REMIC status or result in the imposition of any such
tax."
8. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Sale and Servicing Agreement is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance Trust Services, BAFC 2007-4
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Sale and Servicing Agreement is:
Bank of America, National Association
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
Xxxxx Fargo Bank's address for purposes of all notices and correspondence
related to its role as Master Servicer of the Mortgage Loans is:
Xxxxx Fargo Bank, N.A.
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - BAFC 2007-4
9. It is expressly understood and agreed by the parties hereto that (i)
this Agreement is executed and delivered by U.S. Bank National Association not
individually or personally but solely as trustee on behalf of the Trust, in the
exercise of the powers and authority conferred and vested in it under the terms
of the Pooling Agreement, and (ii) under no circumstances shall U.S. Bank
National Association be personally liable for the payment of any indebtedness or
expenses of the Trust (including, without limitation, any fees, expenses or
indemnities payable under the UBS AAR or the Sale and Servicing Agreement), or
be liable for the breach or failure of any obligation, representation, warranty
or covenant of the Trust under this Agreement or any other related documents, as
5
to all of which recourse shall be had solely to the assets of the Trust in
accordance with the terms of the UBS AAR or the Sale and Servicing Agreement.
[Signatures Follow]
6
IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and
Recognition Agreement to be executed by their duly authorized officers as of the
date first above written.
Bank of America, National Association, as Assignor
By: /s/ Xxxxx X. Good
----------------------------------------
Name: Xxxxx X. Good
Title: Vice President
U.S. Bank National
Association, as Assignee
By: /s/ Xxxxxxx X. Xxxxx
----------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
----------------------------------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
GMAC Mortgage, LLC,
as servicer
By: /s/ Xxxxxxxx X. Xxxxxx
----------------------------------------
Name: Xxxxxxxx X. Xxxxxx
Title: Vice President
Acknowledged and Agreed
as of the date first above written:
Xxxxx Fargo Bank, N.A., as master servicer
By: /s/ Xxxxxx Xxxxxx
---------------------------------
Name: Xxxxxx Xxxxxx
Title: Assistant Vice President
EXHIBIT A
Schedule of Mortgage Loans
[Please see the Free Writing Prospectus filed and
accepted by the Securities and Exchange
Commission on May 30, 2007, with a filing
date of May 30, 2007 and accession number
0001379434-07-000105.]
A-1
EXHIBIT B
Exhibit E-1: Standard File Layout
------------------------------------------------------------------------------------------ ------------- ----------------------- ---
Max
Column Name Description Decimal Format Comment Size
------------------------------------------------------------------------------------------------- ------ ----------------------- ---
Each file requires the following fields:
------------------------------------------------------------------------------------------------ ------ ----------------------- ----
SER_INVESTOR_NBR A value assigned by the Servicer to define a group of loans. Text up to 20 digits
20
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
LOAN_NBR A unique identifier assigned to each loan by the investor. Text up to 10 digits
10
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This may Text up to 10 digits
be different than the LOAN_NBR. 10
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest payment that 2 No commas(,) or dollar
a borrower is expected to pay, P&I constant. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
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 rate as 4 Max length of 6
reported by the Servicer. 6
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by the Servicer. 4 Max length of 6
6
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_FEE_AMT The servicer's fee amount for a loan as reported by the 2 No commas(,) or dollar
Servicer. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
NEW_PAY_AMT The new loan payment amount as reported by the Servicer. 2 No commas(,) or dollar
signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
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 forecasted rate. 4 Max length of 6
6
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the beginning of the 2 No commas(,) or dollar
processing cycle. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end of the 2 No commas(,) or dollar
processing cycle. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the borrower's MM/DD/YYYY
next payment is due to the Servicer, as reported by Servicer. 10
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the first curtailment MM/DD/YYYY
amount. 10
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the second curtailment MM/DD/YYYY
amount. 10
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
-------------------------- ----------------------------------------------------------------- ---- ----------------------------------
B-1
-------------------------- --------------------------------------------- ---- ------------------------------------------------------
Exhibit 1: Continued Standard Loan Level File Layout
-------------------------------------------------------------------------------------------- ------------- --------------------- ---
Column Name Description Decimal Format Comment Max
Size
-------------------------------------------------------------------------------------------- ----- -------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the third curtailment MM/DD/YYYY
amount. 10
-------------------------------------------------------------------------------------------- ----- -------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
PIF_AMT The loan "paid in full" amount as reported by the Servicer. 2 No commas(,) or dollar
signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY
10
-------------------------------------------------------------------------------------------- ----- -------------------------------
Action Code Key:
ACTION_CODE The standard FNMA numeric code used to indicate the 15=Bankruptcy, 2
default/delinquent status of a particular loan. 30=Foreclosure, , 60=PIF,
63=Substitution,
65=Repurchase,70=REO
-------------------------------------------------------------------------------------------- ----- -------------------------------
INT_ADJ_AMT The amount of the interest adjustment as reported by the 2 No commas(,) or dollar
Servicer. signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if applicable. 2 No commas(,) or dollar
signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar
signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if applicable. 2 No commas(,) or dollar
signs ($) 11
-------------------------------------------------------------------------------------------- ----- -------------------------------
Plus the following applicable fields:
--------------------------------------------------------------------------------------------- ----- -------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at the beginning 2 No commas(,) or dollar
of the cycle date to be passed through to investors. signs ($) 11
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors at the end of 2 No commas(,) or dollar
a processing cycle. signs ($) 11
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
SCHED_PRIN_AMT The scheduled principal amount as reported by the Servicer for 2 No commas(,) or dollar
the current cycle -- only applicable for Scheduled/Scheduled signs ($) 11
Loans.
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
SCHED_NET_INT The scheduled gross interest amount less the service fee amount 2 No commas(,) or dollar
for the current cycle as reported by the Servicer -- only signs ($) 11
applicable for Scheduled/Scheduled Loans.
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
ACTL_PRIN_AMT The actual principal amount collected by the Servicer for the 2 No commas(,) or dollar
current reporting cycle -- only applicable for Actual/Actual signs ($) 11
Loans.
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
ACTL_NET_INT The actual gross interest amount less the service fee amount 2 No commas(,) or dollar
for the current reporting cycle as reported by the Servicer -- signs ($) 11
only applicable for Actual/Actual Loans.
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower prepays on his loan 2 No commas(,) or dollar
as reported by the Servicer. signs ($) 11
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived by the 2 No commas(,) or dollar
servicer. signs ($) 11
--------------------------- ----------------------------------------------------------------- ----- -------------------------------
B-2
------------------------------------------------------------------------- ----- ----------------------------------------------------
Exhibit 1: Continued Standard Loan Level File Layout
-------------------------------------------------------------------------------------------- ------------- -------------------------
Column Name Description Decimal Format Comment Max
Size
-------------------------------------------------------------------------------------------- ------------- -------------------------
MOD_DATE The Effective Payment Date of the Modification for the loan. MM/DD/YYYY
10
-------------------------------------------------------------------------------------------- ------------- -------------------------
MOD_TYPE The Modification Type. Varchar - value
can be alpha or
numeric 30
-------------------------------------------------------------------------------------------- ------------- -------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest advances made by 2 No commas(,) 11
Servicer. or dollar signs ($)
-------------------------------------------------------------------------------------------- ------------- -------------------------
Flag to indicate if the repurchase of a loan is due to a breach Y=Breach
BREACH_FLAG of Representations and Warranties N=NO Breach 1
Let blank if N/A
-------------------------------------------------------------------------------------------- ------------- -------------------------
B-3
Exhibit E-2: 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 MM/DD/YYYY
the servicer at the end of processing cycle, as reported
by Servicer.
-------------------------------- ---------------------------------------------------------------------------------- -------------- -
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
-------------------------------- ---------------------------------------------------------------------------------- -------------- -
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
-------------------------------- ---------------------------------------------------------------------------------- -------------- -
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
-------------------------------------------------- ---------------------------------------------------------------------------------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy
filing.
------------------------------------------------------------------------------------------------------------------- -------------- -
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been 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 ($)
------------------------------------------------------------------------------------------------------------------- -------------- -
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------- -------------- -
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the MM/DD/YYYY
property from the borrower.
------------------------------------------------------------------------------------------------------------------- -------------- -
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or
dollar signs ($)
------------------------------------------------------------------------------------------------------------------- -------------- -
B-4
-------------------------------------------------- ---------------------------------------------------------------------------------
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 2
brokers price opinion or appraisal.
------------------------------------------------------------------------------------------------------------------- -------------- -
B-5
Exhibit E-3: Calculation of Realized Loss/Gain Form 332- Instruction Sheet
1. The numbers on the 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. All line entries must be supported by copies
of appropriate statements, vouchers, receipts, bills, canceled checks,
etc., to document the expense. Entries not properly documented will
not be reimbursed to the Servicer.
13. The total of lines 1 through 12.
2. Credits:
14-21. Complete as applicable. All line entries must be supported by copies
of the appropriate claims forms, EOBs, HUD-1 and/or other proceeds
verification, statements, payment checks, etc. to document the credit.
If the Mortgage Loan is subject to a Bankruptcy Deficiency, the
difference between the Unpaid Principal Balance of the Note prior to
the Bankruptcy Deficiency and the Unpaid Principal Balance as reduced
by the Bankruptcy Deficiency should be input on line 20.
22. The total of lines 14 through 21.
Please note: For HUD/VA loans, use line (15) for Part A/Initial
proceeds and line (16) for Part B/Supplemental proceeds.
3. 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 ( ).
B-6
Exhibit E-3: Calculation of Realized Loss/Gain Form 332
XXXXX FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS/GAIN
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 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 _________________(5)
(6) Property Maintenance _________________(6)
(7) MI/Hazard Insurance Premiums _________________(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________________________ ________________
HOA/Condo Fees_______________________ ________________
_____________________________________ ________________
_____________________________________ ________________
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 Proceeds _______________(18)
(19) Pool Insurance Proceeds _______________(19)
(20) Proceeds from Sale of Acquired Property _______________(20)
B-7
(21) Other (itemize) _______________(21)
_____________________________________ ________________
_____________________________________ ________________
Total Credits $_______________(22)
Total Realized Loss (or Amount of Gain) $_______________(23)
B-8
APPENDIX I
UBS AAR Agreement
[Available upon request.]
APPENDIX II
Sale and Servicing Agreement
[Included as Exhibits 10.3(A), (B) and (C) to the
Current Report on Form 8-K pursuant to which this
Assignment, Assumption and Recognition Agreement is
filed.]
