ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT among GS MORTGAGE SECURITIES CORP., as Assignor as Assignee WASHINGTON MUTUAL BANK, as Seller and Servicer and as acknowledged by WELLS FARGO BANK, N.A., as Master Servicer Dated as of April 1, 2007
EXECUTION
among
GS
MORTGAGE SECURITIES CORP.,
as
Assignor
U.S.
BANK NATIONAL ASSOCIATION, AS TRUSTEE,
as
Assignee
WASHINGTON
MUTUAL BANK,
as
Seller and Servicer
and
as
acknowledged by
XXXXX
FARGO BANK, N.A.,
as
Master Servicer
Dated
as of
April
1, 2007
ASSIGNMENT,
ASSUMPTION AND RECOGNITION AGREEMENT (this “Assignment Agreement”) made this 1st
day of April 2007, among Washington Mutual Bank (formerly known as Washington
Mutual Bank, FA) (“Washington Mutual”), as seller and servicer (the “Seller” and
the “Servicer”), U.S.
Bank, National Association, a national banking association, as trustee (the
“Assignee”), and GS Mortgage Securities Corp., a Delaware corporation (the
“Assignor”), and as acknowledged by Xxxxx Fargo Bank, N.A., as master servicer
(the “Master Servicer”).
WHEREAS,
Servicer sold to Xxxxxxx Xxxxx Mortgage Company (“GSMC”) certain mortgage loans
listed on the mortgage loan schedule attached as Exhibit
1
hereto
(the “Mortgage Loans”) pursuant to (i) the Mortgage Loan Purchase and Sale
Agreement dated as of December 1, 2003, as amended by the First Amendment to
Mortgage Loan Purchase Agreement dated as of October 1, 2004, and as further
amended by the Regulation AB Amendment to Mortgage Loan Purchase and Sale
Agreement dated as of April 1, 2006 (the “Purchase Agreement”) and (ii) the
Commitment Letter dated as of March 2, 2007 (the “Commitment
Letter”);
WHEREAS,
GSMC and the Servicer have entered into the Servicing Agreement dated as of
December 1, 2003, as amended by the First Amendment to Servicing Agreement
dated
as of October 1, 2004, and as further amended by the Regulation AB Amendment
to
Servicing Agreement dated as of April 1, 2006 (the “Servicing Agreement”)
pursuant to which the Servicer is servicing the Mortgage Loans on behalf of
GSMC;
WHEREAS,
GSMC, the Assignor, the Seller and the Servicer have entered into the
Assignment, Assumption and Recognition Agreement dated as of April 1, 2007
(the
“GSMC Assignment Agreement”), pursuant to which GSMC has sold to the Assignor
the Mortgage Loans and assigned its rights under the Purchase Agreement and
the
Servicing Agreement to the Assignor;
WHEREAS,
pursuant to a Master Servicing and Trust Agreement, dated as of April 1, 2007
(together with the April 2007 Edition of the Standard Terms thereto, the “Trust
Agreement”), among the Assignor, as depositor, the Master Servicer, Xxxxx Fargo
Bank, N.A., as securities administrator, Deutsche Bank National Trust Company,
as a custodian, and the Assignee, as trustee (the “Trustee”), the Assignor will
transfer the Mortgage Loans to the Assignee, together with the Assignor’s rights
in the Purchase Agreement and the Servicing Agreement;
3
NOW
THEREFORE, in consideration of the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. Assignment
and Assumption.
(a) The
Assignor hereby assigns to the Assignee all of its right, title and interest
in
and to the Mortgage Loans, the Purchase Agreement and the Servicing Agreement,
to the extent relating to the Mortgage Loans (other than the rights of the
Assignor to indemnification thereunder), and the Assignee hereby assumes all
of
the Assignor’s obligations under the Purchase Agreement and the Servicing
Agreement, to the extent relating to the Mortgage Loans from and after the
date
hereof, and the Servicer and Seller hereby acknowledge such assignment and
assumption and hereby agree to the release of the Assignor from any obligations
under the Servicing Agreement and the Purchase Agreement, respectively, from
and
after the date hereof, to the extent relating to the Mortgage Loans.
(b) The
Assignor represents and warrants to the Assignee that the Assignor has not
taken
any action which would serve to impair or encumber the Assignor’s ownership
interest in the Mortgage Loans since the date of the Purchase Agreement, the
Servicing Agreement, or the Commitment Letter.
(c) The
Servicer and the Assignor shall have the right to amend, modify or terminate
the
Servicing Agreement and the Seller and the Assignor shall have the right to
amend, modify or terminate the Purchase Agreement or the Commitment Letter,
in
each case, without the joinder of the Assignee with respect to mortgage loans
not conveyed to the Assignee hereunder, provided, however, that such amendment,
modification or termination shall not affect or be binding on the
Assignee.
(d) The
Assignor hereby assigns to the Assignee, any rights of the Assignor with respect
to early payment defaults or first payment defaults in the Commitment Letter,
but only to the extent such provision relates to the Mortgage Loans. The
foregoing shall constitute the Assignor’s consent to the assignment of the
Commitment Letter (to the extent required by the terms of the Commitment
Letter.)
(e) Notwithstanding
any provision of the Commitment Letter to the contrary, in the event any
Mortgage Loan is repurchased by the Seller pursuant to any early payment default
or first payment default provisions of the Commitment Letter, the “Repurchase
Price” payable to the Assignee shall be an amount equal to the sum of: (a) the
outstanding principal balance of such Mortgage Loan as of the date of such
repurchase, (b) accrued interest on such outstanding principal balance at the
applicable Mortgage Interest Rate from the date interest was last paid through
the last day of the month in which such repurchase takes place, (c) the amount
of any outstanding advances owed to the servicer (so long as Washington Mutual
is not the servicer), and (d) any reasonable costs and expenses incurred by
any
servicer (so long as Washington Mutual is not the servicer) or the Trustee,
including without limitation costs and expenses incurred in the enforcement
of
the Seller’s repurchase obligation under the Commitment Letter. It is hereby
understood that the right to any excess over such amount set forth in the
definition of “Repurchase Price” set forth in any Commitment Letter is not being
sold or assigned hereunder and is being retained by the Assignor.
(f) The
Trust
(including the Trustee and the Master Servicer acting on the Trust’s behalf)
shall have all the rights and remedies available to the Assignor, insofar as
they relate to the Mortgage Loans, under any early payment default or first
payment default provisions of the Commitment Letter including, without
limitation, the enforcement of the repurchase requirements set forth therein,
and shall be entitled to enforce all the obligations of the Seller thereunder
insofar as they relate to the Mortgage Loans.
4
2. Accuracy
of Servicing Agreement and the Purchase Agreement.
(a) The
Servicer and the Assignor represent and warrant to the Assignee that (i)
attached hereto as Exhibit 2 is a true, accurate and complete copy of the
Servicing Agreement, (ii) the Servicing Agreement is in full force and effect
as
of the date hereof, (iii) the Servicing Agreement has not been amended or
modified in any respect except as set forth in Exhibit 2 and (iv) no notice
of
termination has been given to the Servicer under the Servicing Agreement. The
Servicer further represents and warrants that the representations and warranties
contained in Section 5.7 of the Servicing Agreement are true and correct on
and
as of April 30, 2007.
(b) The
Seller and the Assignor represent and warrant to the Assignee that (i) attached
hereto as Exhibit 3 is a true, accurate and complete copy of the Purchase
Agreement, (ii) the Purchase Agreement and the Commitment Letter are in full
force and effect as of the date hereof and (iii) neither the Purchase Agreement
nor the Commitment Letter have been amended or modified in any respect except
by
an amendment attached hereto as part of Exhibit 3. The Seller further represents
and warrants that the representations and warranties, with respect to the
Mortgage Loans, contained in Section 3.1 of the Purchase Agreement are true
and
correct on and as of the Closing Date (as defined in the Purchase
Agreement).
3. Recognition
of the Assignee; Recognition of the Master Servicer.
(a) From
and
after the date hereof, the Servicer shall note the transfer of the Mortgage
Loans to the Assignee in its books and records, shall recognize the Assignee
as
the owner of the Mortgage Loans and shall service the Mortgage Loans for the
benefit of the Assignee pursuant to the Servicing Agreement, the terms of which
are incorporated herein by reference. It is the intention of the Assignor,
Servicer and Assignee that the Servicing Agreement shall be binding upon and
inure to the benefit of the Servicer and the Assignee and their successors
and
assigns. It is the intention of the Assignor, Seller and Assignee that the
Purchase Agreement shall be binding upon and inure to the benefit of the Seller
and the Assignee and their successors and assigns.
(b) The
Servicer further acknowledges that, from and after the date hereof, it will
be
subject to the supervision of the Master Servicer (except that the Master
Servicer shall not be responsible for supervising the servicing of defaulted
Mortgage Loans and REO Properties) and that the Master Servicer, acting on
behalf of the Trustee as the owner of the Mortgage Loans, shall have the right
to enforce all obligations of the Servicer, as they relate to the Mortgage
Loans, under the Servicing Agreement and this Assignment Agreement. Subject
to
the terms and conditions of 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 and the right to
exercise certain rights of consent and approval relating to actions taken by
the
Servicer. Notwithstanding anything to the contrary herein, the Master Servicer
hereby acknowledges and agrees that in no event shall the Master Servicer be
entitled to receive indemnification rights from the Servicer.
5
(c) All
reports and other data required to be delivered by the Servicer to the “Owner”
under the Servicing Agreement shall be delivered to the Master Servicer or
the
Assignee, as designated in writing by the Assignee, at the address set forth
in
Section 11 hereof. All remittances required to be made to the Assignee, as
the
successor in interest to the Assignor under the Servicing Agreement, shall
be
made instead to the Master Servicer by wire transfer to the following
account:
Xxxxx
Fargo Bank, N.A.
ABA#
000000000
For
credit to: SAS Clearing
Acct
#:
0000000000
FFC
to:
GSR 2007-3F Acct # 53145900
Notwithstanding
anything to the contrary in the Servicing Agreement, with respect to the
Mortgage Loan, not later than the tenth calendar day of each month (or if such
tenth calendar day is not a Business Day, the immediately succeeding Business
Day), the Servicer shall furnish to the Master Servicer (i) the information
set forth in Exhibits 4, 5, 6 and 7, in such form as may be mutually agreed
upon
between the Servicer and the Master Servicer, in each case relating to the
period ending on the last day of the preceding calendar month, (ii) all
supporting documentation with respect to the information required under the
preceding paragraph and (iii) any other information readily available to the
Servicer on its servicing system relating to the servicing of the Mortgaged
Loan
that the Master Servicer reasonably requires (provided, that, the Servicer
shall
have no obligation to provide to the Master Servicer any information pursuant
to
this clause (iii) which is unduly burdensome or costly for the Servicer to
provide to the Master Servicer), in such form as may be mutually agreed upon
between the Servicer and the Master Servicer, with respect to the Mortgage
Loan
to enable the Master Servicer to provide such information to the Securities
Administrator.
4. Representations
and Warranties of the Assignee.
The
Assignee hereby represents and warrants to the Assignor, the Seller and the
Servicer as follows:
(a) Authority.
The
Assignee hereto represents and warrants that it is duly and legally authorized
to enter into this Assignment Agreement and to perform its obligations hereunder
and under the Purchase Agreement, the Servicing Agreement, and the Commitment
Letter.
6
(b) Enforceability.
The
Assignee hereto represents and warrants that this Assignment Agreement has
been
duly authorized, executed and delivered by it and (assuming due authorization,
execution and delivery thereof by each of the other parties hereto) constitutes
its legal, valid and binding obligation, enforceable in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors’
rights generally and by general equitable principles (regardless of whether
such
enforcement is considered in a proceeding in equity or at law).
5. Representations
and Warranties of the Assignor.
The
Assignor hereby represents and warrants to the Assignee, the Seller and the
Servicer as follows:
(a) Organization.
The
Assignor has been duly organized and is validly existing as a corporation in
good standing under the laws of the State of Delaware with full power and
authority (corporate and other) to enter into and perform its obligations under
the Purchase Agreement, the Servicing Agreement, the Commitment Letter, and
this
Assignment Agreement.
(b) Enforceability.
This
Assignment Agreement has been duly executed and delivered by the Assignor,
and,
assuming due authorization, execution and delivery by each of the other parties
hereto, constitutes a legal, valid, and binding agreement of the Assignor,
enforceable against it in accordance with its terms, subject to bankruptcy,
insolvency, reorganization, moratorium, or other similar laws affecting
creditors’ rights generally and to general principles of equity regardless of
whether enforcement is sought in a proceeding in equity or at law.
(c) No
Consent.
The
execution, delivery and performance by the Assignor of this Assignment Agreement
and the consummation of the transactions contemplated hereby do not require
the
consent or approval of, the giving of notice to, the registration with, or
the
taking of any other action in respect of, any state, federal or other
governmental authority or agency, except such as has been obtained, given,
effected or taken prior to the date thereof.
(d) Authorization;
No Breach.
The
execution and delivery of this Assignment Agreement have been duly authorized
by
all necessary corporate action on the part of the Assignor; neither the
execution and delivery by the Assignor of this Assignment Agreement, nor the
consummation by the Assignor of the transactions herein contemplated, nor
compliance by the Assignor with the provisions hereof, will conflict with or
result in a breach of, or constitute a default under, any of the provisions
of
the governing documents of the Assignor or any law, governmental rule or
regulation or any material judgment, decree or order binding on the Assignor
or
any of its properties, or any of the provisions of any material indenture,
mortgage, deed of trust, contract or other instrument to which the Assignor
is a
party or by which it is bound.
(e) Actions;
Proceedings.
There
are no actions, suits or proceedings pending or, to the knowledge of the
Assignor, threatened, before or by any court, administrative agency, arbitrator
or governmental body (A) with respect to any of the transactions contemplated
by
this Assignment Agreement or (B) with respect to any other matter that in the
judgment of the Assignor will be determined adversely to the Assignor and will
if determined adversely to the Assignor materially adversely affect its ability
to perform its obligations under this Assignment Agreement.
7
(f) Prior
Assignments; Pledges.
Except
for the sale to the Assignee, the Assignor has not assigned or pledged any
Mortgage Note or the related Mortgage or any interest or participation
therein.
(g) Releases.
The
Assignor has not satisfied, canceled, or subordinated in whole or in part,
or
rescinded the Mortgage, and the Assignor has not released the Mortgaged Property
from the lien of the Mortgage, in whole or in part, nor has the Assignor
executed an instrument that would effect any such release, cancellation,
subordination, or rescission. The Assignor has not released any Mortgagor,
in
whole or in part, except in connection with an assumption agreement or other
agreement approved by the related federal insurer, to the extent such approval
was required.
(h) With
respect to each Mortgage Loan, the representations and warranties contained
in
Section 3.1 of the Purchase Agreement, to the extent they relate to matters
arising on or after the Closing Date (as defined in the Purchase
Agreement),
are
true and correct as of the date of this Assignment Agreement. For purposes
of
making the representations and warranties contemplated in the foregoing
sentence, each reference in Section 3.1 of the Purchase Agreement to (i) the
“Cut-off Date” shall be deemed to be a reference to April
1,
2007,
(ii) the “Mortgage Loan Schedule” shall be deemed to be a reference to
Exhibit
1
hereto
and (iii) the “Closing Date” shall be deemed to be a reference to April 30,
2007.
(i) Each
Mortgage Loan, at the time it was originated, complied in all material respects
with applicable local, state and federal laws, including, but not limited to,
all applicable predatory and abusive lending laws; and none of the Mortgage
Loans are “high-cost,” “high-cost home” or “covered” (excluding home loans
defined as “covered home loans” pursuant to the New Jersey Home Ownership Act of
2002) loans under any applicable federal, state or local predatory or abusive
lending law.
(j) No
Mortgage Loan is a “High Cost Loan” or “Covered Loan,” as applicable, as such
terms are defined in the then current Standard & Poor’s LEVELSâ
Glossary. In addition, no Mortgage Loan is a “high-cost,” “high-cost home,”
“covered,” “high-risk home,” or “predatory” loan under any applicable federal,
state or local predatory or abusive lending law (or a similarly classified
loan
using different terminology under a law imposing heightened regulatory scrutiny
or additional legal liability for residential mortgage loans having high
interest rates, points and/or fees), and no Mortgage Loan originated on or
after
October 1, 2002 through March 6, 2003 is governed by the Georgia Fair Lending
Act.
8
It
is
understood and agreed that the representations and warranties set forth in
this
Section 5 shall survive delivery of the respective Collateral Files to the
custodian and shall inure to the benefit of the Assignee, the Seller, the
Servicer and their respective assigns notwithstanding any restrictive or
qualified endorsement or assignment. Upon the discovery by the Assignor, the
Master Servicer or the Assignee and its assigns of a breach of the foregoing
representations and warranties, the party discovering such breach shall give
prompt written notice to the other parties to this Assignment Agreement, and
in
no event later than two (2) Business Days from the date of such discovery.
It is
understood and agreed that the obligations of the Assignor set forth in Section
6 to repurchase a Mortgage Loan constitute the sole remedies available to the
Assignee and its assigns on their behalf respecting a breach of the
representations and warranties contained in this Section 5.
It
is
understood and agreed that the Assignor has made no representations or
warranties to the Assignee other than those contained in this Section 5, and
no
other affiliate of the Assignor has made any representations or warranties
of
any kind to the Assignee.
6. Repurchase
of Mortgage Loans.
Upon
discovery by any party to this Assignment Agreement or notice to any such party
of any breach by the Assignor of any representation, warranty or covenant under
this Assignment Agreement that materially and adversely affects the value of
any
Mortgage Loan or the interest of the Assignee therein (it being understood
that
any such defect or breach shall be deemed to have materially and adversely
affected the value of the related Mortgage Loan or the interest of the Assignee
therein if the Assignee incurs a loss as a result of such defect or breach),
such party shall notify the Assignee and the Assignee promptly shall request
that the Assignor cure such breach and, if the Assignor does not cure such
breach in all material respects within 60 days from the date on which it is
notified of the breach, the Assignee may enforce the Assignor’s obligation
hereunder to purchase such Mortgage Loan from the Assignee. Notwithstanding
the
foregoing, however, if such breach is a Qualification Defect, such cure or
repurchase must take place within 75 days of the date such defect is discovered.
In
the
event the Seller has breached a representation or warranty under the Purchase
Agreement that is substantially identical to a representation or warranty
breached by the Assignor hereunder, the Assignee shall first proceed against
the
Seller. If the Seller does not cure such breach or
purchase the Mortgage Loan,
in
accordance with Section 3.3 of the Purchase Agreement, the Assignee shall be
entitled to enforce the obligations of the Assignor hereunder to cure such
breach or to repurchase the Mortgage Loan from the trust formed pursuant the
Trust Agreement. In such event, the Assignor shall succeed to the rights of
the
Assignee to enforce the obligations of the Seller to cure such breach or
repurchase such Mortgage Loan under the terms of the Purchase Agreement with
respect to such Mortgage Loan.
9
Except
as
specifically set forth herein, the Assignee shall have no responsibility to
enforce any provision of the Purchase Agreement, to oversee compliance thereof,
or to take notice of any breach or default thereof.
7. Amendment
of the Servicing Agreement.
In
connection with the transfer of the Mortgage Loans hereunder, the Servicer
agrees that, from and after the date hereof, each Mortgage Loan transferred
hereunder will be subject to, and serviced under, the Servicing Agreement,
provided that,
solely
with respect to the Mortgage Loans transferred hereunder,
(a)
The
definition of “Business Day” shall be amended by adding the words “Maryland,
Minnesota” before the word “Washington.”
(b) Section
3.2(a) of the Servicing Agreement shall be amended by inserting after the first
reference to “Monthly Remittance Date,” the following:
“and
the
Monthly Advance (if any) made with respect to the Due Period that commences
in
the same month in which such Monthly Remittance Date occurs,”
(c) Section
6.1(x) of the Servicing Agreement, as amended by that certain Regulation AB
Amendment to Servicing Agreement, dated as of April 1, 2006, shall be amended
by
replacing the words “which continues unremedied for ten calendar days” with the
words “which continues unremedied for five calendar days”.
(d) Section
8.6 of the Servicing Agreement, as amended by that certain Regulation AB
Amendment to Servicing Agreement, dated as of April 1, 2006, shall be amended
by
replacing the words “On or before March 15 of each calendar year” with the words
“On or before March 10 of each calendar year.”
For
the
avoidance of doubt, the Servicing Agreement is not hereby amended with respect
to any other mortgage loans serviced thereunder and shall remain in full force
and effect in accordance with its terms with respect to such other mortgage
loans.
For
purposes of this Section 7, capitalized terms used herein shall have the
meanings assigned to such terms in the Servicing Agreement.
8. Indemnification
by Servicer.
The
Servicer shall indemnify and hold harmless the Assignee, its present and former
directors, officers, employees and assignees (each, an “Indemnified Party”)
against any and all third party claims, losses, penalties, damages, fines,
forfeitures, legal fees and related costs, judgments and any other costs, fees
and expenses that the Indemnified Party may sustain (for avoidance of doubt,
including those payable by an Indemnified Party to any third party, including
affiliates of such Indemnified Party) in any way related to the failure of
the
Servicer to service the Mortgage Loans in compliance with the terms of the
Servicing Agreement and this Assignment Agreement; provided, however, the
Servicer shall not be liable hereunder with respect to (i) any action or
inaction resulting from the written direction or consent of an Indemnified
Party, (ii) any action or inaction resulting from an Indemnified Party’s failure
to cause any Collateral File (or portion thereof) to be released to the Servicer
pursuant to Sections 2.18 or 4.2(c) of the Servicing Agreement, or (iii)
any action or inaction resulting from an Indemnified Party’s failure to comply
with Section 5.1(b) or Section 5.6 of the Servicing Agreement.
10
9. Continuing
Effect.
Except
as
contemplated hereby, the Servicing Agreement and the Purchase Agreement shall
remain in full force and effect in accordance with their respective
terms.
10. Governing
Law.
THIS
ASSIGNMENT AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND
THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED
IN
ACCORDANCE WITH SUCH LAWS.
11. Notices.
Any
notices or other communications permitted or required hereunder or under the
Purchase Agreement or the Servicing Agreement shall be in writing and shall
be
deemed conclusively to have been given if personally delivered at or mailed
by
registered mail, postage prepaid, and return receipt requested or transmitted
by
telex, telegraph or telecopier and confirmed by a similar mailed writing, to:
(i) in the case of the Servicer, Washington Mutual Bank, 0000 Xxxxxxxxxx Xxx,
Xxxxxxxxxxxx, Xxxxxxx 00000, Attention: Vice President, Investor Reporting,
Telephone: 000-000-0000, Facsimile: 000-000-0000, or such address as may
hereafter be furnished by the Servicer; (ii) in the case of the Seller,
Washington Mutual Bank, 0000 Xxxxxx Xxxxxx, XXX 1401, Xxxxxxx, Xxxxxxxxxx 00000,
Attention: General Counsel, Telephone: 000-000-0000, Facsimile: 000-000-0000,
or
such
address as may hereafter be furnished by the Seller; (iii) in the case of the
Assignee, U.S.
Bank
National Association, 000 Xxxx Xxxxxx, 00xx
Xxxxx,
Xxx Xxxx, Xxx Xxxx 00000, Attention: Corporate Trust Group (GSR
2007-3F),
or such
other address as may hereafter be furnished by the Assignee, (iv) in the case
of
the Assignor, GS Mortgage Securities Corp., 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx
Xxxx
00000, Attention: Xxxxxx Xxxxxxxxx, Telecopier No.: (000) 000-0000, or such
other address as may hereafter be furnished by the Assignor, and (v) in the
case
of the Master Servicer, Xxxxx Fargo Bank, N.A., P.O. Box 98, Columbia, Maryland,
Attention: Client Manager (GSR 2007-3F), (or
in
the case of overnight deliveries, 0000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx
21045)
or such
other address as may hereafter be furnished by the Master Servicer.
11
12. Counterparts.
This
Assignment Agreement may be executed in counterparts, each of which when so
executed shall be deemed to be an original and all of which when taken together
shall constitute one and the same instrument.
13. Definitions.
Any
capitalized term used but not defined in this Assignment Agreement has the
same
meaning as in the Purchase Agreement and the Servicing Agreement.
14.
Liability.
[Reserved.]
15. Trustee
Capacity.
It
is
expressly understood and agreed by the parties hereto that insofar as this
Assignment Agreement is executed by the Trustee: (i) this Assignment Agreement
is executed and delivered by U.S. Bank National Association, not individually
or
personally but solely on behalf of the Trust, in the exercise of the powers
and
authority conferred and vested in it, (ii) each of the representations,
undertakings and agreements by U.S. Bank National Association is made and
intended for the purpose of binding only the Trust, (iii) nothing herein shall
be construed as creating any liability on the part of U.S. Bank National
Association, individually or personally, to perform any covenant either
expressed or implied contained herein, all such liability, if any, being
expressly waived by the parties hereto and such waiver shall bind any third
party making a claim by or through one of the parties hereto, and (iv) under
no
circumstances shall U.S. Bank National Association in its individual capacity
be
personally liable for the payment of any indebtedness or expenses undertaken
under this Assignment Agreement.
16. Third
Party Beneficiary.
The
Master Servicer shall be considered a Third-Party Beneficiary to this Assignment
Agreement entitled to all rights and benefits hereof as if it were a direct
party to this Assignment Agreement.
12
IN
WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement
the
day and year first above written.
ASSIGNEE:
U.S.
BANK NATIONAL ASSOCIATION not in its individual capacity but solely
as
Trustee
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By: | /s/ Xxxxxxxx X’Xxxxx | |
|
||
Name: Xxxxxxxx X’Xxxxx | ||
Title: Vice President |
ASSIGNOR:
GS
MORTGAGE SECURITIES CORP.
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By: | /s/ X. Xxxx | |
|
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Name: X. Xxxx | ||
Title: Vice President |
SELLER
AND SERVICER:
WASHINGTON
MUTUAL BANK
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By: | /s/ Xxxxxx Xxxx | |
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Name: Xxxxxx Xxxx | ||
Title: Vice President |
Acknowledged by: | |||
MASTER
SERVICER:
XXXXX
FARGO BANK, N.A.
|
|||
By:
/s/ Xxxxxx Xxxxxx
Name:
Xxxxxx Xxxxxx
Title: Vice President |
EXHIBIT 1
(Mortgage
Loan Schedule)
[To
be
retained in a separate closing binder entitled “GSR 2007-3F Mortgage Loan
Schedules” at
the
Washington D.C. Offices of XxXxx Xxxxxx LLP]
1-1
EXHIBIT
2
(Servicing
Agreement)
2-1
EXHIBIT
3
(Purchase
Agreement)
3-1
EXHIBIT
4
Calculation
of Realized Loss/Gain Form 332- Instruction Sheet
NOTE:
Do not net or combine items. Show all expenses individually and all credits
as
separate line items. Claim packages are due on the remittance report date.
Late
submissions may result in claims not being passed until the following month.
The
Servicer is responsible to remit all funds pending loss approval and /or
resolution of any disputed items.
The
numbers on the 332 form correspond with the numbers listed below.
Liquidation
and Acquisition Expenses:
1. |
The
Actual Unpaid Principal Balance of the Mortgage Loan. For documentation,
an Amortization Schedule from date of default through liquidation
breaking
out the net interest and servicing fees advanced is
required.
|
2. |
The
Total Interest Due less the aggregate amount of servicing fee that
would
have been earned if all delinquent payments had been made as agreed.
For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
3. |
Accrued
Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage
Loan as calculated on a monthly basis. For documentation, an Amortization
Schedule from date of default through liquidation breaking out the
net
interest and servicing fees advanced is
required.
|
4-12. |
Complete
as applicable. Required
documentation:
|
·
For taxes and insurance advances - see page 2 of 332 form - breakdown required
showing period
of
coverage, base tax, interest, penalty. Advances prior to default require
evidence of servicer efforts to recover advances.
·
For escrow advances - complete payment history
(to
calculate advances from last positive escrow balance forward)
·
Other expenses - copies of corporate advance history showing all payments
·
REO repairs > $1500 require explanation
·
REO repairs >$3000 require evidence of at least 2 bids.
·
Short Sale or Charge Off require P&L supporting the decision and
WFB’s approved Officer Certificate
·
Unusual or extraordinary items may require further documentation.
13. |
The
total of lines 1 through 12.
|
Credits:
14-21. |
Complete
as applicable. Required
documentation:
|
·
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.
|
4-1
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 ( ).
|
4-2
EXHIBIT 5
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
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)
|
$________________
|
(23)
|
5-1
Escrow
Disbursement Detail
Type
(Tax
/Ins.)
|
Date
Paid
|
Period
of
Coverage
|
Total
Paid
|
Base
Amount
|
Penalties
|
Interest
|
||||||
5-2
EXHIBIT 6
Standard
File Layout - Scheduled/Scheduled
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
||||
Each
file requires the following fields:
|
|
|
|
|||||
SER_INVESTOR_NBR
|
A
value assigned by the Servicer to define a group of loans.
|
|
Text
up to 20 digits
|
20
|
||||
LOAN_NBR
|
A
unique identifier assigned to each loan by the investor.
|
|
Text
up to 10 digits
|
10
|
||||
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be different
than the LOAN_NBR.
|
|
Text
up to 10 digits
|
10
|
||||
SCHED_PAY_AMT
|
Scheduled
monthly principal and scheduled interest payment that a borrower
is
expected to pay, P&I constant.
|
2
|
No
commas(,) or dollar signs ($)
|
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 reported by
the
Servicer.
|
4
|
Max
length of 6
|
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 Servicer.
|
2
|
No
commas(,) or dollar 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 processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
ACTL_END_PRIN_BAL
|
The
borrower's actual principal balance at the end of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
BORR_NEXT_PAY_DUE_DATE
|
The
date at the end of processing cycle that the borrower's next payment
is
due to the Servicer, as reported by Servicer.
|
|
MM/DD/YYYY
|
10
|
||||
SERV_CURT_AMT_1
|
The
first curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
SERV_CURT_DATE_1
|
The
curtailment date associated with the first curtailment amount.
|
|
MM/DD/YYYY
|
10
|
||||
CURT_ADJ_
AMT_1
|
The
curtailment interest on the first curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
SERV_CURT_AMT_2
|
The
second curtailment amount to be applied.
|
2
|
|
No
commas(,) or dollar signs ($)
|
11
|
|||
SERV_CURT_DATE_2
|
The
curtailment date associated with the second curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
||||
CURT_ADJ_
AMT_2
|
The
curtailment interest on the second curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
6-1
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 ($)
|
11
|
||||
SERV_CURT_DATE_3
|
The
curtailment date associated with the third curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
||||
CURT_ADJ_AMT_3
|
The
curtailment interest on the third curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
PIF_AMT
|
The
loan "paid in full" amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
PIF_DATE
|
The
paid in full date as reported by the Servicer.
|
|
MM/DD/YYYY
|
10
|
||||
ACTION_CODE
|
The
standard FNMA numeric code used to indicate the default/delinquent
status
of a particular loan.
|
|
Action
Code Key: 15=Bankruptcy, 00xXxxxxxxxxxx, , 00xXXX, 63=Substitution,
65=Repurchase,70=REO
|
2
|
||||
INT_ADJ_AMT
|
The
amount of the interest adjustment as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
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 ($)
|
11
|
||||
Plus
the following applicable fields:
|
|
|
|
|||||
SCHED_BEG_PRIN_BAL
|
The
scheduled outstanding principal amount due at the beginning of the
cycle
date to be passed through to investors.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
SCHED_END_PRIN_BAL
|
The
scheduled principal balance due to investors at the end of a processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
SCHED_PRIN_AMT
|
The
scheduled principal amount as reported by the Servicer for the current
cycle -- only applicable for Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
SCHED_NET_INT
|
The
scheduled gross interest amount less the service fee amount for the
current cycle as reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
ACTL_PRIN_AMT
|
The
actual principal amount collected by the Servicer for the current
reporting cycle -- only applicable for Actual/Actual
Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
ACTL_NET_INT
|
The
actual gross interest amount less the service fee amount for the
current
reporting cycle as reported by the Servicer -- only applicable for
Actual/Actual Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
PREPAY_PENALTY_
AMT
|
The
penalty amount received when a borrower prepays on his loan as reported
by
the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
PREPAY_PENALTY_
WAIVED
|
The
prepayment penalty amount for the loan waived by the
servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
6-2
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
||||
MOD_DATE
|
The
Effective Payment Date of the Modification for the loan.
|
|
MM/DD/YYYY
|
10
|
||||
MOD_TYPE
|
The
Modification Type.
|
|
Varchar
- value can be alpha or numeric
|
30
|
||||
DELINQ_P&I_ADVANCE_AMT
|
The
current outstanding principal and interest advances made by
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
||||
BREACH_FLAG
|
Flag
to indicate if the repurchase of a loan is due to a breach of
Representations and Warranties
|
Y=Breach
N=NO
Breach
Let
blank if N/A
|
1
|
6-3
EXHIBIT 7
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.
|
|||||
PROP_ADDRESS
|
Street
Name and Number of Property
|
|
||||
PROP_STATE
|
The
state where the property located.
|
|
||||
PROP_ZIP
|
Zip
code where the property is located.
|
|
||||
BORR_NEXT_PAY_DUE_DATE
|
The
date that the borrower's next payment is due to the servicer at
the end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
|
||||
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 by the
courts
|
MM/DD/YYYY
|
||||
BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal,
Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
||||
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 instructions
to begin
foreclosure proceedings.
|
MM/DD/YYYY
|
||||
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 Action
|
MM/DD/YYYY
|
||||
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 ($)
|
|||
EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
||||
EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
||||
LIST_PRICE
|
The
price at which an REO property is marketed.
|
2
|
No
commas(,) or dollar signs ($)
|
|||
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 ($)
|
|||
OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
7-1
REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
||||
REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
||||
OCCUPANT_CODE
|
Classification
of how the property is occupied.
|
|
||||
PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
|
||||
PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
||||
APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
||||
CURR_PROP_VAL
|
The
current "as is" value of the property based on brokers price opinion
or
appraisal.
|
2
|
|
|||
REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
|
|||
If
applicable:
|
|
|
||||
DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
|||||
DELINQ_REASON_CODE
|
The
circumstances which caused a borrower to stop paying on a loan.
Code
indicates the reason why the loan is in default for this
cycle.
|
|||||
MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
||||
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
||||
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
Insurer
|
MM/DD/YYYY
|
||||
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 ($)
|
|||
VA_CLAIM_FILED_DATE
|
Date
VA Claim Was Filed With the Veterans Admin
|
MM/DD/YYYY
|
||||
VA_CLAIM_PAID_DATE
|
Date
Veterans Admin. Disbursed VA Claim Payment
|
MM/DD/YYYY
|
||||
VA_CLAIM_PAID_AMT
|
Amount
Veterans Admin. Paid on VA Claim
|
2
|
No
commas(,) or dollar signs ($)
|
7-2
MOTION_FOR_RELIEF_DATE
|
The
date the Motion for Relief was filed
|
10
|
MM/DD/YYYY
|
|||
FRCLSR_BID_AMT
|
The
foreclosure sale bid amount
|
11
|
No
commas(,) or dollar signs ($)
|
|||
FRCLSR_SALE_TYPE
|
The
foreclosure sales results: REO, Third Party, Conveyance to
HUD/VA
|
|
|
|||
REO_PROCEEDS
|
The
net proceeds from the sale of the REO property.
|
|
No
commas(,) or dollar signs ($)
|
|||
BPO_DATE
|
The
date the BPO was done.
|
|
|
|||
CURRENT_FICO
|
The
current FICO score
|
|
|
|||
HAZARD_CLAIM_FILED_DATE
|
The
date the Hazard Claim was filed with the Hazard Insurance
Company.
|
10
|
MM/DD/YYYY
|
|||
HAZARD_CLAIM_AMT
|
The
amount of the Hazard Insurance Claim filed.
|
11
|
No
commas(,) or dollar signs ($)
|
|||
HAZARD_CLAIM_PAID_DATE
|
The
date the Hazard Insurance Company disbursed the claim
payment.
|
10
|
MM/DD/YYYY
|
|||
HAZARD_CLAIM_PAID_AMT
|
The
amount the Hazard Insurance Company paid on the claim.
|
11
|
No
commas(,) or dollar signs ($)
|
|||
ACTION_CODE
|
Indicates
loan status
|
Number
|
||||
NOD_DATE
|
|
|
MM/DD/YYYY
|
|||
NOI_DATE
|
|
|
MM/DD/YYYY
|
|||
ACTUAL_PAYMENT_PLAN_START_DATE
|
|
|
MM/DD/YYYY
|
|||
ACTUAL_PAYMENT_
PLAN_END_DATE
|
|
|
|
|||
ACTUAL_REO_START_DATE
|
|
|
MM/DD/YYYY
|
|||
REO_SALES_PRICE
|
|
|
Number
|
|||
REALIZED_LOSS/GAIN
|
As
defined in the Servicing Agreement
|
|
Number
|
7-3
Standard
File Codes - Delinquency Reporting
The
Loss
Mit Type
field
should show the approved Loss Mitigation Code as follows:
· |
ASUM- Approved
Assumption
|
· | BAP- Borrower Assistance Program |
· | CO- Charge Off |
· | DIL-Deed-in-Lieu |
· | FFA- Formal Forbearance Agreement |
· | MOD- Loan Modification |
· |
PRE-
Pre-Sale
|
· |
SS-
Short Sale
|
·
|
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:
·
|
Mortgagor
|
·
|
Tenant
|
·
|
Unknown |
·
|
Vacant
|
The
Property
Condition
field
should show the last reported condition of the property as follows:
· |
Damaged
|
· | Excellent |
· | Fair |
· | Gone |
· | Good |
· | Poor |
· | Special Hazard |
· | Unknown |
7-4
The
FNMA
Delinquent Reason Code
field
should show the Reason for Delinquency as follows:
Delinquency
Code
|
Delinquency
Description
|
|
001
|
FNMA-Death
of principal mortgagor
|
|
002
|
FNMA-Illness
of principal mortgagor
|
|
003
|
FNMA-Illness
of mortgagor’s family member
|
|
004
|
FNMA-Death
of mortgagor’s family member
|
|
005
|
FNMA-Marital
difficulties
|
|
006
|
FNMA-Curtailment
of income
|
|
007
|
FNMA-Excessive
Obligation
|
|
008
|
FNMA-Abandonment
of property
|
|
009
|
FNMA-Distant
employee transfer
|
|
011
|
FNMA-Property
problem
|
|
012
|
FNMA-Inability
to sell property
|
|
013
|
FNMA-Inability
to rent property
|
|
014
|
FNMA-Military
Service
|
|
015
|
FNMA-Other
|
|
016
|
FNMA-Unemployment
|
|
017
|
FNMA-Business
failure
|
|
019
|
FNMA-Casualty
loss
|
|
022
|
FNMA-Energy
environment costs
|
|
023
|
FNMA-Servicing
problems
|
|
026
|
FNMA-Payment
adjustment
|
|
027
|
FNMA-Payment
dispute
|
|
029
|
FNMA-Transfer
of ownership pending
|
|
030
|
FNMA-Fraud
|
|
031
|
FNMA-Unable
to contact borrower
|
|
INC
|
FNMA-Incarceration
|
7-5
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
|
7-6