Contract
EXECUTION COPY
Assignment,
Assumption and Recognition Agreement (the “Agreement”), dated
July 31, 2007, is among Bank of America, National Association, a national
banking association (“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 2007-6 Trust
(“Assignee”),
Xxxxx Fargo Bank, N.A., a national banking association (“Xxxxx Fargo Bank”),
as servicer, and CitiMortgage, Inc. (“CitiMortgage”) as
master servicer of the Banc of America Funding 2007-6 Trust.
WHEREAS,
pursuant to that certain Flow Servicing Rights Purchase and Sale Agreement,
dated as of July 1, 2006 (the “Purchase Agreement”),
by and between the Assignor and Xxxxx Fargo Bank, the Assignor has sold, and
Xxxxx Fargo Bank has purchased, the servicing rights related to the mortgage
loans listed on Exhibit A hereto (the “Mortgage
Loans”);
WHEREAS,
Xxxxx Fargo Bank has agreed to service the Mortgage Loans listed on Exhibit A
hereto in accordance with that certain Servicing Agreement, dated as of
July 1, 2006 (the “Servicing
Agreement”), by and between the Assignor and Xxxxx Fargo Bank (attached
hereto in Appendix
I);
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, CitiMortgage, as a master servicer (in such capacity, the
“Master
Servicer”) and Citibank, N.A., a national banking association, as
securities administrator (in such capacity, the “Securities
Administrator”), are entering into a Pooling and Servicing Agreement,
dated the date hereof (the “Pooling Agreement”),
among BAFC, the Master Servicer, the Securities Administrator and the Assignee,
pursuant to which the Master Servicer shall 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 Assignee, all of the right, title and interest of the
Assignor in, to and under the Servicing Agreement (other than the rights of the
Assignor to indemnification thereunder).
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
Servicing Agreement other than the Mortgage Loans.
2. The
Assignor warrants and represents to, and covenants with, BAFC 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 Xxxxx Fargo Bank with respect to
the Purchase Agreement, the 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 Purchase Agreement, the Servicing
Agreement or the Mortgage Loans, including without limitation the transfer of
the servicing obligations under the Servicing Agreement. 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 Purchase Agreement, the 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 (the “33 Act”) or which
would render the disposition of the Mortgage Loans a violation of Section 5 of
the 33 Act or require registration pursuant thereto.
3. From
and after the date hereof, Xxxxx Fargo Bank shall note the transfer of the
Mortgage Loans to the Assignee in its books and records, and Xxxxx Fargo Bank
shall recognize the Assignee as the owner of the Mortgage
Loans. Notwithstanding anything to the contrary contained in Section
9.01 of the Servicing Agreement, Xxxxx Fargo Bank shall service the Mortgage
Loans pursuant to the Servicing Agreement as modified by Section 7 of this
Agreement, for the benefit of the Assignee. Xxxxx Fargo Bank
acknowledges that a REMIC election will be made with respect to the 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 Servicing
Agreement.
2
4. Xxxxx
Fargo Bank hereby represents and warrants to each of the other parties hereto
(i) that the representations and warranties of Xxxxx Fargo Bank in Section 3.01
of the 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 Servicing Agreement, and (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.
5. In
accordance with Sections 2.03 and 9.01 of the Servicing Agreement, the Assignor
hereby instructs Xxxxx Fargo Bank, and Xxxxx Fargo Bank hereby agrees, to
release from its custody and deliver the Mortgage File (as defined in the
Servicing Agreement) for each Mortgage Loan to the Assignee, or a custodian on
its behalf under the Pooling Agreement, at the address set forth in Section 8
herein on or before the date hereof.
6. Xxxxx
Fargo Bank 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 (MERS ID
#1001065), 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. Xxxxx
Fargo Bank, BAFC and the Assignee hereby agree to the following modifications to
the Servicing Agreement:
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a.
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Article
I. Article I is hereby modified by deleting the
definition of “Principal Prepayment Period” and replacing it with the
following:
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“The
calendar month preceding the month in which the related Remittance Date
occurs.”
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b.
|
Section
4.03. Section 4.03 is hereby modified to read as
follows:
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“Continuously
from the respective Cut-off Date until the principal and interest on all
Mortgage Loans are paid in full or the Mortgage Loans have been fully liquidated
(with respect to Mortgage Loans that remain subject to this Agreement pursuant
to Section 9.01 herein), in accordance with this Agreement and Accepted
Servicing Practices, the Servicer shall proceed diligently to collect all
payments due under each of the Mortgage Loans when the same shall become due and
payable and shall take special care in ascertaining and estimating Escrow
Payments and all other charges that will become due and payable with respect to
the Mortgage Loan and the Mortgaged Property, to the end that the installments
payable by the Mortgagors will be sufficient to pay such charges as and when
they become due and payable.”
3
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c.
|
Section
4.10. Section 4.10 is hereby modified by inserting in
the third paragraph after “shall” the words, “use reasonable efforts to”
and by deleting the following language: “in accordance with then current
Xxxxxx Mae requirements, and secure from the owner’s association its
agreement to notify the Servicer promptly of any change in the insurance
coverage or of any condemnation or casualty loss that may have a material
effect on the value of the Mortgaged Property as
security.”
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|
d.
|
Section
4.10. Section 4.10 is hereby further modified by
deleting the following language from the fourth
paragraph:
|
“and if
the Mortgagor does not obtain such coverage, the Servicer shall immediately
force place the required coverage on the Mortgagor’s behalf.”
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e.
|
Section
4.13. Section 4.13 is hereby deleted in its entirety and
replaced with the following:
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“The
Company or its agent shall inspect the Mortgaged Property as often as is
reasonably deemed necessary by the Company in accordance with Accepted Servicing
Practices or as may be required by the primary mortgage guaranty insurer, to
assure itself that the value of the Mortgaged Property is being
preserved. The Company shall keep a record of each such inspection
and, upon request, shall provide the Purchaser with an electronic report of each
such inspection.”
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f.
|
Section
4.23. Section 4.23 is hereby modified by adding to the
beginning of the paragraph, the following
language:
|
“The
extent that the Servicer has serviced the Mortgage Loans for a period of sixty
(60) days,”
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g.
|
Section
4.25. Section 4.25 is hereby deleted in its
entirety.
|
|
h.
|
Section
5.01. Section 5.01 is hereby modified by deleting “the
second Business Day following” from the first sentence of the second
paragraph.
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i.
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Section
5.02. Section 5.02 is hereby modified to read as
follows:
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“Not
later than the fifth (5th) Business Day of each month, the Servicer shall
furnish to the Master Servicer a monthly remittance advice, with a trial balance
report attached thereto, as to the remittance period ending on the last day of
the preceding month containing the information set forth on Exhibit B
hereto.”
The
exhibit referenced in this Section 7(i) is
attached to this Agreement as Exhibit
B.
4
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j.
|
Section
6.02, Section 6.02 is hereby modified by amending the
second paragraph, after “secured by the Mortgage” in the second line, to
add the following language:
|
“(other
than as a result of modification of the Mortgage Loan or liquidation of the
Mortgaged Property pursuant to the terms of this Agreement)”
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k.
|
Section
6.04. Section 6.04 is hereby modified by deleting the
references to “the Owner or any Master Servicer and Depositor” and
replacing them with “the Master Servicer and the Master Servicer shall
deliver to the Depositor.”
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l.
|
Section
6.06. Section 6.06 is hereby modified
by:
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(1) deleting
the references to “the Owner, any Master Servicer and any Depositor” and
replacing them with “the Master Servicer and the Master Servicer shall deliver
to the Depositor”; and
(2) inserting
the following at the end of the fifth full paragraph therein:
“Neither
the Owner nor any Depositor or Master Servicer will request delivery of a
certification under clause (d) above unless a Depositor or Master Servicer is
required under the Exchange Act to file an annual report on Form 10-K with
respect to an issuing entity whose asset pool includes the Mortgage
Loans.”
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m.
|
Section
9.01. Section 9.01 is hereby modified
by:
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(1)
modifying Section 9.01(g)(iii) to read as follows:
“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 (10)
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):
5
(A) 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);
(B) material
breaches of pool asset representations or warranties or transaction covenants
(Item 1121(a)(12) of Regulation AB); and
(C) 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).
(iv) The
Servicer shall provide to the Master Servicer and the Master Servicer shall
deliver to the 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.”; and
(2) modifying
Section 9.01(k) by deleting the word “Investor” and replacing it with “party
designated by the Owner”
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n.
|
Section
10.01. Section 10.01 is hereby modified
by:
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(1) replacing
the word “sixty (60)” with “thirty (30)” in Section 10.01(b) and inserting the
following thereafter:
“(or, in
the case of any failure by the Servicer to perform its obligations under Section
6.04 or Section 6.06, ten (10))”; and
(2) replacing
the word “fifteen (15)” with “ten (10)” in Section 10.01(j).
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o.
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Exhibit
D.
|
Exhibit
D is hereby deleted in its
entirety.
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6
8. The
Assignee’s address for purposes of all notices and correspondence related to the
Mortgage Loans and the Purchase Agreement and Servicing Agreement
is:
U.S. Bank
National Association
000 X. XxXxxxx
Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx
00000
Attention: Structured
Finance Trust Services, BAFC 2007-6
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
The
Master Servicer’s address for purposes of all notices and correspondence related
to the Mortgage Loans is:
CitiMortgage,
Inc.
0000 Xxxxxx Xxxx.,
0xx
Xxxxx
Xxxxxx, Xxxxx
00000
Attention: Master
Servicing Division
Xxxxx
Fargo Bank’s address for purposes of all notices and correspondence related to
the Mortgage Loans and the Purchase Agreement and Servicing Agreement
is:
Xxxxx
Fargo Bank, N.A.
1 Home
Xxxxxx
Xxx Xxxxxx,
XX 00000-0000
Attention : Xxxx
X. Xxxxx, MAC X2302-033
Facsimile: (000)
000-0000
9. All
remittances by Xxxxx Fargo Bank shall be made to the account or accounts
designated by the Master Servicer to Xxxxx Fargo Bank in writing from time to
time. Wire remittances shall initially be sent to the following wire
instructions:
Bank
Name: CitiBank
(West)
Bank
City/State: Glendale,
CA
ABA
Number: 321171184
Account
Name: CMI
MSD Clearing
Account
Number: #070-4913896
10. Xxxxx
Fargo Bank hereby acknowledges that CitiMortgage. has been appointed as the
Master Servicer of the Mortgage Loans pursuant to the Pooling Agreement, and
therefore has the right to enforce all obligations of Xxxxx Fargo Bank, as they
relate to the Mortgage Loans, under the Servicing Agreement. Such right
will
7
include,
without limitation, the right to exercise any and all rights of the Assignor
(but not the obligations) under the Servicing Agreement to monitor and enforce
the obligations of Xxxxx Fargo Bank thereunder, the right to receive all
remittances required to be made by Xxxxx Fargo Bank under the Servicing
Agreement, the right to receive all monthly reports and other data required to
be delivered by Xxxxx Fargo Bank under the Servicing Agreement, the right to
examine the books and records of Xxxxx Fargo Bank, as servicer, indemnification
rights, and the right to exercise certain rights of consent and approval
relating to actions taken by Xxxxx Fargo Bank, as servicer. Xxxxx
Fargo Bank agrees to provide the Master Servicer with the data outlined in Exhibit
B.
11. Notwithstanding
any provision of the Servicing Agreement to the contrary, and solely with
respect to the Mortgage Loans, any Prepayment Penalties collected by Xxxxx Fargo
Bank shall be remitted to the Master Servicer.
12. 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 Purchase Agreement or the 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 to
all of which recourse shall be had solely to the assets of the Trust in
accordance with the terms of the Pooling Agreement.
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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:___________________________
Name:
Title:
U.S. Bank
National Association,
as
Assignee
By:___________________________
Name: Xxxxxxx
X. Xxxxx
Title: Vice
President
Banc of
America Funding Corporation
By:___________________________
Name:
Title:
Xxxxx
Fargo Bank, N.A., as servicer
By:
___________________________
Name:
Title:
CitiMortgage,
Inc., as Master Servicer
By:
___________________________
Name:
Title:
[BAFC
2007-6 -- Xxxxx Fargo AAR Agreement]
EXHIBIT
A
Schedule
of Mortgage Loans
[Please
refer to separate Excel file provided on this Closing CD.]
A-1
EXHIBIT
B
SERVICER
INSTRUCTIONS FOR SETUP & IMPLEMENTATION
Data Elements
File
Servicers
post default data on the MSD (master servicing division) website by the fifth
(5th) Business Day of each month, using a text file format. The data
consist of dates, amounts and codes housed in the servicer’s default tracking
system.
Specific
data elements that servicers should capture are:
DATA DESCRIPTION
|
UPDATE CODE
|
Forbearance
– Date Forbearance Plan Accepted
|
002
|
Forbearance
– Date Forbearance Agreement Expired
|
003
|
Forbearance
– Next Payment Due Date
|
070
|
Forbearance
– Plan Due Date (Contractual Due Date)
|
071
|
Bankruptcy
– Filing Date
|
004
|
Bankruptcy
– Chapter
|
005
|
Bankruptcy
– Case Number
|
006
|
Bankruptcy
– Post Petition Due Date
|
007
|
Bankruptcy
– Motion for Relief – Filed Date
|
008
|
Bankruptcy
– Motion for Relief – Stay Lifted Date
|
009
|
Bankruptcy
– Discharge Date
|
010
|
Bankruptcy
– Dismissal Date
|
011
|
Bankruptcy
– Plan Confirmation Date
|
065
|
Bankruptcy
– Attorney Referral Date
|
066
|
Bankruptcy
– Proof of Claim Filing Date
|
067
|
Bankruptcy
– Payment Plan Start Date
|
068
|
Bankruptcy
– Payment Plan End Date
|
069
|
Preforeclosure
Sale – Insurer Approval Received
|
012
|
Preforeclosure
Sale – Closing / Sale Held
|
014
|
FNMA
Delinquent Status Code
|
016
|
FNMA
Delinquent Reason Code (Reason for Default)
|
017
|
Deed-in-Lieu
– Deed Recorded Date
|
018
|
Foreclosure
– Date Recommendation Sent to MSD
|
019
|
Foreclosure
Type – If Judicial, Transmit J1 (leave blank if
non-judicial)
|
021
|
Foreclosure
– Attorney Referral Date
|
022
|
Foreclosure
– First Legal Date
|
023
|
Foreclosure
– Sale Scheduled Date
|
024
|
Foreclosure
– Sale Held Date
|
025
|
Foreclosure
– Date Sale Results Sent to MSD
|
026
|
Foreclosure
– Post Sale Redemption Date
|
027
|
Property
Vacant – Transmit Y for Yes, N for No
|
028
|
Eviction
– Date Initiated
|
029
|
B-1
Eviction
– Date Completed
|
030
|
REO
– Sale Scheduled Date
|
031
|
REO
– Sale Held Date
|
032
|
REO
– Sale Amount
|
033
|
MI
– Claim Filed Date (Conventional Loans)
|
034
|
MI
– Claim Filed Amount (Conventional Loans)
|
035
|
MI
– Claim Paid Date (Conventional Loans)
|
036
|
MI
– Claim Paid Amount (Conventional Loans)
|
037
|
FHA
– Partial Claim Filed Date
|
038
|
FHA
– Partial Claim Filed Amount
|
039
|
FHA
– Partial Claim Paid Date
|
040
|
FHA
– Partial Claim Paid Amount
|
041
|
FHA
– Final Claim Filed Date
|
042
|
FHA
– Final Claim Filed Amount
|
043
|
FHA
– Final Claim Paid Date
|
044
|
FHA
– Final Claim Paid Amount
|
045
|
VA
– Partial Claim Filed Date
|
046
|
VA
– Partial Claim Filed Amount
|
047
|
VA
– Partial Claim Paid Date
|
048
|
VA
– Partial Claim Paid Amount
|
049
|
VA
– Final Claim Filed Date
|
050
|
VA
– Final Claim Filed Amount
|
051
|
VA
– Final Claim Paid Date
|
052
|
VA
– Final Claim Paid Amount
|
053
|
VA
Refund – Date VA Approved / Accepted
|
054
|
Pool
– Claim Filed Date
|
055
|
Pool
– Claim Filed Amount
|
056
|
Pool
– Claim Paid Date
|
057
|
Pool
– Claim Paid Amount
|
058
|
Statement
of Mortgage Accounts
|
059
|
Summary
of Paid-In-Full Remittance Report
|
060
|
Consolidation
of Remittance Reports
|
061
|
Private
Pool Detail Report
|
062
|
Each data
element is assigned an Update Code. This code is filtered through a
codes table in CitiMortgage’s default system during file upload that directs the
data to the appropriate field on our system. Each data element per
loan in the servicer’s electronic file must have an update code assigned to it
in order to upload into our system correctly.
Servicer File
Setup
The
servicer’s data extract is a comma-delimited rich text file
(RTF). The file is set up in rows of one data element per
loan. Each row contains the following 4 data elements:
MSD Loan Number: CitiMortgage
Master Servicing’s loan number
Servicer
Loan Number
B-2
Update Code: 3 digits, with
preceding zeroes as indicated above
Data: the default date, amount
or code corresponding to the loan number
Note: Dates must be submitted
in a DD-MMM-YYYY format (2 numeric characters for the day of the month, 3 alpha
characters for the first 3 letters of the month, and 4 numeric characters for
the given year).
Here is a
sample of how these rows of data should appear:
021046955,496265,004,12DEC2003
021046955,496265,005,13
021046955,496265,007,01JAN2004
420221154,784456,022,27DEC2003
In this
example, the first 3 rows of data correspond to bankruptcy filing date,
bankruptcy chapter, and bankruptcy post petition due date for loan
021046955. The last row of data represents the foreclosure attorney
referral date for 420221154. Leave no spaces between commas in a row
and sort the extract by MSD loan number.
Sending the Data Elements
File
Data
extracts should be posted on the MSD website. Files are due monthly
by the third business day. Questions concerning setup of file or for
troubleshooting issues, please contact Xxx Xxxxxxxxxxx at (000) 000-0000 or via
e-mail at xxx.x.xxxxxxxxxxx@xxxx.xxx. Also please contact Xxx xxxxx
to your first month’s posting to make sure he has set your company up for with
the ability to Post data
to the
website.
MSD Website address:
xxx0.xxxxxxxxxxxx.xxx/xxx
Servicer Comments
File
To
support the reporting process through ADR, servicer’s also will simultaneously
develop a default comment file that will transmit and upload into our system in
the same way as the data extract file. The purpose of this
transmission is to minimize manual comment updates at loan-level.
Like the
Data Elements file, the ADR Comment File is comma-delimited. It
contains the following data:
|
CitiMortgage
MSD’s Loan Number
|
|
Servicer
Loan Number
|
|
Default
Stage (3 Character Code)
|
|
Comment
Date
|
|
Comment
(Text)
|
B-3
The
default stage listed pertains to one of six major stages in the default
process:
Stage
|
Code
|
Description
|
Bankruptcy
|
BNK
|
Active
bankruptcy status.
|
Foreclosure
|
FOR
|
Active
foreclosure status.
|
Loss
Mitigation
|
LMT
|
Mortgagor
workout measures are in progress.
|
Claims
|
CLM
|
Active
claim (post foreclosure) in progress.
|
REO
|
REO
|
Active
REO status (property being marketed).
|
Default
|
DEF
|
Delinquencies
not fitting the above categories (usually 30, 60 or 90 day
delinquencies).
|
In
programming the file, servicers should categorize comments into one of the 6
stages listed above. Rows in the comment file would look like
this:
021046955,496265,BNK,07-16-2004,“Motion
for Relief filed 7/10/04.”
300001702,621111,LMT,07-11-2004,“Modification
started 7/5/04.”
420221154,784456,FOR,07-07-2004,“File
referred to attorney 7/2/04.”
Servicers
should submit the Comments file simultaneously with the Data
Elements
file each month. The Comments file should be in a CSV
format.
B-4
APPENDIX
I
Servicing
Agreement
[to be
attached]
Appendix
I