Exhibit 99.11a
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EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this
"Assignment"), dated as of July 1, 2006, is entered into among Xxxxxx Xxxxxxx
Capital I Inc., a Delaware corporation (the "Depositor"), Xxxxxx Xxxxxxx
Mortgage Capital Inc. ("MSMCI"), Wachovia Mortgage Corporation as seller
("Wachovia" and, in such capacity, the "Seller") and servicer (in such
capacity, the "Servicer"), and acknowledged by LaSalle Bank National
Association, as trustee (the "Trustee") of Xxxxxx Xxxxxxx Mortgage Loan Trust
2006-9AR (the "Trust"), and Xxxxx Fargo Bank, National Association, as master
servicer (or any successor master servicer, the "Master Servicer").
RECITALS
WHEREAS MSMCI, the Seller and the Servicer have entered into a certain
Seller's Purchase, Warranties and Servicing Agreement, dated as of September
1, 2004 (the "Initial Agreement"), as supplemented by the Amended and Restated
Regulation AB Compliance Addendum (the "Reg AB Addendum"), dated as of April
17, 2006, (as further amended or modified to the date hereof, the
"Agreement"), pursuant to which MSMCI has acquired certain Mortgage Loans
pursuant to the terms of the Agreement and the Servicer has agreed to service
such Mortgage Loans;
WHEREAS the Depositor has agreed, on the terms and conditions contained
herein, to purchase from MSMCI certain of the Mortgage Loans (the "Specified
Mortgage Loans") which are subject to the provisions of the Agreement and are
listed on the mortgage loan schedule attached as Exhibit I hereto (the
"Specified Mortgage Loan Schedule"); and
WHEREAS the Trustee, on behalf of the Trust, has agreed, on the terms
and conditions contained herein, to purchase from the Depositor the Specified
Mortgage Loans;
NOW, THEREFORE, in consideration of the mutual promises contained herein
and other good and valuable consideration (the receipt and sufficiency of
which are hereby acknowledged), the parties agree as follows:
1. Assignment and Assumption
(a) On and as of the date hereof, MSMCI hereby sells, assigns and
transfers to the Depositor all of its right, title and interest in the
Specified Mortgage Loans and all rights and obligations related thereto as
provided under the Agreement to the extent relating to the Specified Mortgage
Loans, the Depositor hereby accepts such assignment from MSMCI (the "First
Assignment and Assumption"), and the Seller hereby acknowledges the First
Assignment and Assumption.
MSMCI specifically reserves and does not assign to the Depositor
hereunder any and all right, title and interest in, to and under and all
obligations of MSMCI with respect to any Mortgage Loans subject to the
Agreement which are not the Specified Mortgage Loans.
(b) On and as of the date hereof, immediately after giving effect to
the First Assignment and Assumption, the Depositor hereby sells, assigns and
transfers to the Trustee, on behalf of the Trust, all of its right, title and
interest in the Specified Mortgage Loans and all rights and obligations
related thereto as provided under the Agreement to the extent relating to the
Specified Mortgage Loans, and the Trustee, on behalf of the Trust, hereby
accepts such assignment from the Depositor (the "Second Assignment and
Assumption"), and the Seller hereby acknowledges the Second Assignment and
Assumption.
(c) On and as of the date hereof, MSMCI represents and warrants to the
Depositor and the Trustee that MSMCI has not taken any action that would serve
to impair or encumber the respective ownership interests of the Depositor and
the Trustee in the Specified Mortgage Loans since the date of MSMCI's
acquisition of the Specified Mortgage Loans.
2. Recognition of Trustee
(a) From and after the date hereof, both MSMCI and the Seller shall
note the transfer of the Specified Mortgage Loans to the Trustee, in their
respective books and records and shall recognize the Trustee, on behalf of the
Trust, as of the date hereof, as the owner of the Specified Mortgage Loans,
and Servicer shall service the Specified Mortgage Loans for the benefit of the
Trust pursuant to the Agreement, as modified hereby, the terms of which are
incorporated herein by reference. It is the intention of the Seller, the
Servicer, the Depositor, the Trustee and MSMCI that this Assignment shall be
binding upon and inure to the benefit of the Depositor, the Trustee and MSMCI
and their respective successors and assigns.
(b) Without in any way limiting the foregoing, the parties confirm
that this Assignment includes the rights relating to amendments or waivers
under the Agreement. Accordingly, the right of MSMCI to consent to any
amendment of the Agreement and its rights concerning waivers as set forth in
Sections 11.02 and 8.02 of the Agreement shall be exercisable, to the extent
any such amendment or waiver affects the Specified Mortgage Loans or any of
the rights under the Agreement with respect thereto (other than the servicing
of the Specified Mortgage Loans, which shall be enforced by the Master
Servicer) by the Trustee as assignee of MSMCI.
(c) It is expressly understood and agreed by the parties hereto that
(i) this Assignment is executed and delivered by LaSalle Bank National
Association, not individually or personally but solely on behalf of the Trust,
as the assignee, in the exercise of the powers and authority conferred and
vested in it, as Trustee, pursuant to the Pooling and Servicing Agreement
dated as of the date hereof among the Depositor, the Master Servicer, Xxxxx
Fargo Bank, National Association, as securities administrator (the "Securities
Administrator") and the Trustee (the "Pooling and Servicing Agreement"), (ii)
each of the representations, undertakings and agreements herein made on the
part of assignee is made and intended not as personal representations,
undertakings and agreements by LaSalle Bank National Association but is made
and intended for the purpose of binding only the Trust , (iii) nothing herein
contained shall be construed as creating any liability for LaSalle Bank
National Association, individually or personally, to perform any covenant
(either express or implied) contained herein and (iv) under no circumstances
shall LaSalle Bank National Association be personally liable for the payment
of any indebtedness or expenses of the Trust, or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or
undertaken by the Trust under this Assignment and (v) all recourse for any
payment liability or other obligation of the assignee shall be had solely to
the assets of the Trust.
3. Representations and Warranties
(a) The Depositor represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith upon
any statements or representations of the Seller or MSMCI other than those
contained in the Agreement or this Assignment.
(b) Each of the parties hereto represents and warrants that it is duly
and legally authorized to enter into this Assignment.
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(c) Each of the Depositor, MSMCI, Seller and Servicer hereto
represents and warrants that this Assignment has been duly authorized,
executed and delivered by it and (assuming due authorization, execution and
delivery thereof by each of the other parties hereto) constitutes its legal,
valid and binding obligation, enforceable against it in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors'
rights generally and by general equitable principles (regardless of whether
such enforcement is considered in a proceeding in equity or at law).
(d) The Seller hereby makes, as of the Closing Date (as defined in the
Pooling and Servicing Agreement referred to below), the representations and
warranties set forth in Section 3.01 of the Agreement, to and for the benefit
of the Depositor, the Trustee and the Trust, and by this reference
incorporates such representations and warranties herein, as of such Closing
Date.
(e) The Company hereby represents and warrants to the Assignee that,
to the extent the Mortgage Loans will be part of a REMIC, the Servicer shall
service the Mortgage Loans and any real property acquired upon default thereof
(including, without limitation, making or permitting any modification, waiver
or amendment of any term of any Mortgage Loan) in accordance with the
Servicing Agreement, but in no event in a manner that would (a) cause the
REMIC to fail or qualify as a REMIC or (b) result in the imposition of a tax
upon the REMIC (including, but not limited to, the tax on prohibited
transactions as defined in Section 860F(a)(2) of the Code, the tax on
contributions to a REMIC set forth in Section 860G(d) of the Code and the tax
on "net income from foreclosure property" as set forth in Section 860G(c) of
the Code).
4. The Servicer hereby acknowledges that Xxxxx Fargo Bank, National
Association has been appointed as the Master Servicer of the Specified
Mortgage Loans pursuant to the Pooling and Servicing Agreement and, therefore,
has the right to enforce all obligations of the Servicer under the Agreement.
Such rights will include, without limitation, the right to terminate the
Servicer under the 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 Agreement, the right to receive all monthly reports and
other data required to be delivered by the Servicer under the Agreement, the
right to examine the books and records of the Servicer, indemnification rights
and the right to exercise certain rights of consent and approval of MSMCI. The
Servicer shall make all distributions under the Agreement to the Master
Servicer by wire transfer of immediately available funds to:
Xxxxx Fargo Bank, National Association
ABA Number: 000-000-000
Account Name: Corporate Trust Clearing
Account number: 0000000000
For further credit to: 50933200, MSM 2006-9AR
The Servicer shall deliver all reports required to be delivered under
the Agreement to the Master Servicer at the following address:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager, MSM 2006-9AR
Telecopier: (000) 000-0000
5. Amendments to the Initial Agreement
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The parties to this Assignment hereby agree to amend the Initial
Agreement as follows:
(a) With respect to the Specified Mortgage Loans, "Permitted
Investments" shall mean at any time, any one or more of the
following obligations and securities:
(i) obligations of the United States or any agency thereof,
provided that such obligations are backed by the full faith
and credit of the United States;
(ii) general obligations of or obligations guaranteed by any
state of the United States or the District of Columbia
receiving the highest long-term debt rating of each Rating
Agency, or such lower rating as shall not result in the
downgrading or withdrawal of the ratings then assigned to
the Certificates by the Rating Agencies, as evidenced by a
signed writing delivered by each Rating Agency;
(iii) commercial or finance company paper which is then
receiving the highest commercial or finance company paper
rating of each Rating Agency rating such paper, or such
lower rating as shall not result in the downgrading or
withdrawal of the ratings then assigned to the Certificates
by the Rating Agencies, as evidenced by a signed writing
delivered by each Rating Agency;
(iv) certificates of deposit, demand or time deposits, or
bankers' acceptances issued by any depository institution or
trust company incorporated under the laws of the United
States or of any state thereof and subject to supervision
and examination by federal and/or state banking authorities,
provided that the commercial paper and/or long-term
unsecured debt obligations of such depository institution or
trust company (or in the case of the principal depository
institution in a holding company system, the commercial
paper or long-term unsecured debt obligations of such
holding company, but only if Xxxxx'x is not the applicable
Rating Agency) are then rated one of the two highest
long-term and the highest short-term ratings of each Rating
Agency for such securities, or such lower ratings as shall
not result in the downgrading or withdrawal of the ratings
then assigned to the Certificates by the Rating Agencies, as
evidenced by a signed writing delivered by each Rating
Agency;
(v) demand or time deposits or certificates of deposit
issued by any bank or trust company or savings institution
to the extent that such deposits are fully insured by the
FDIC;
(vi) guaranteed reinvestment agreements issued by any bank,
insurance company or other corporation acceptable to the
Rating Agencies at the time of the issuance of such
agreements, as evidenced by a signed writing delivered by
each Rating Agency;
(vii) repurchase obligations with respect to any security
described in clauses (i) and (ii) above, in either case
entered into with a depository institution or trust company
(acting as principal) described in clause (iv) above;
(viii) securities (other than stripped bonds, stripped
coupons or instruments sold at a purchase price in excess of
115% of the face amount thereof) bearing interest or sold at
a discount issued by any corporation incorporated under the
laws of the United States or any state thereof which, at the
time of such
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investment, have one of the two highest ratings of each
Rating Agency (except if the Rating Agency is Moody's, such
rating shall be the highest commercial paper rating of
Moody's for any such series), or such lower rating as shall
not result in the downgrading or withdrawal of the ratings
then assigned to the Certificates by the Rating Agencies, as
evidenced by a signed writing delivered by each Rating
Agency;
(ix) interests in any money market fund which at the date of
acquisition of the interests in such fund and throughout the
time such interests are held in such fund has the highest
applicable rating by each Rating Agency rating such fund or
such lower rating as shall not result in a change in the
rating then assigned to the Certificates by each Rating
Agency, as evidenced by a signed writing delivered by each
Rating Agency, including funds for which the Trustee, the
Master Servicer, the Securities Administrator or any of its
Affiliates is investment manager or adviser;
(x) short-term investment funds sponsored by any trust
company or national banking association incorporated under
the laws of the United States or any state thereof which on
the date of acquisition has been rated by each applicable
Rating Agency in their respective highest applicable rating
category or such lower rating as shall not result in a
change in the rating then specified stated maturity and
bearing interest or sold at a discount acceptable to each
Rating Agency as shall not result in the downgrading or
withdrawal of the ratings then assigned to the Certificates
by the Rating Agencies, as evidenced by a signed writing
delivered by each Rating Agency; and
(xi) such other investments having a specified stated
maturity and bearing interest or sold at a discount
acceptable to the Rating Agencies as shall not result in the
downgrading or withdrawal of the ratings then assigned to
the Certificates by the Rating Agencies, as evidenced by a
signed writing delivered by each Rating Agency;
provided, that no such instrument shall be a Permitted
Investment if (i) such instrument evidences the right to
receive interest only payments with respect to the
obligations underlying such instrument or (ii) such
instrument would require the Depositor to register as an
investment company under the Investment Company Act of 1940,
as amended.
(b) The definition of "Remittance Date" in Section 1.01 of the
Initial Agreement is hereby amended and restated in its entirety
as follows:
"Remittance Date: The 18th day of each month (or, if such 18th day is
not a Business Day, the following Business Day)."
(c) The definition of "Servicing Fee" in Section 1.01 of the
Initial Agreement is hereby amended and restated in its entirety
as follows:
"The Servicing Fee with respect to each Mortgage Loan for any calendar
month (or a portion thereof) shall be 1/12 of the product of (i) the Scheduled
Principal Balance of the Mortgage Loan and (ii) the Servicing Fee Rate
applicable to such Mortgage Loan. Such fee shall be payable monthly, computed
on the basis of the same principal amount and period respecting which any
related interest payment on a Mortgage Loan is computed."
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(d) The definition of "Servicing Fee Rate" in Section 1.01 of
the Initial Agreement is hereby amended and restated in its
entirety as follows:
"Servicing Fee Rate": With respect to the adjustable rate Mortgage
Loans, 0.250% per annum."
(e) Subsection 3.02(d) of the Initial Agreement is hereby
amended and restated in its entirety as follows:
"As of the Closing Date, none of the Mortgage Loans are contractually
past due by more than 30 days;"
(f) The following paragraphs are hereby incorporated into the
Initial Agreement at the end of Section 4.13:
"The Seller shall prepare for and deliver to the Purchaser, or its
designee, a statement with respect to each REO Property that has been rented
showing the aggregate rental income received and all expenses incurred in
connection with the maintenance of such REO Property at such times as is
necessary to enable the Purchaser, or its designee, to comply with the
reporting requirements of the REMIC Provisions. The net monthly rental income,
if any, from such REO Property shall be deposited in the Certificate Account
no later than the close of business on each Determination Date. The Seller
shall perform the tax reporting and withholding required by Sections 1445 and
6050J of the Code with respect to foreclosures and abandonments, the tax
reporting required by Section 6050H of the Code with respect to the receipt of
mortgage interest from individuals and any tax reporting required by Section
6050P of the Code with respect to the cancellation of indebtedness by certain
financial entities, by preparing such tax and information returns as may be
required, in the form required, and delivering the same to the Purchaser, or
its designee, for filing.
Notwithstanding any other provision of this Agreement, no Mortgaged
Property acquired by the Purchaser, or its designee, shall be rented (or
allowed to continue to be rented) or otherwise used for the production of
income by or on behalf of the Purchaser, or its designee, in such a manner or
pursuant to any terms that would (i) cause such Mortgaged Property to fail to
qualify as "foreclosure property" within the meaning of section 860G(a)(8) of
the Code or (ii) subject any REMIC to the imposition of any federal, state or
local income taxes on the income earned from such Mortgaged Property under
Section 860G(c) of the Code or otherwise, unless the Seller has agreed to
indemnify and hold harmless the Purchaser, or its designee, with respect to
the imposition of any such taxes."
(g) The second paragraph of Section 5.01 of the Initial
Agreement is hereby amended and restated in its entirety as
follows:
"With respect to any remittance received by the Purchaser after the
Business Day on which such payment was due, the Seller shall pay to the
Purchaser interest on any such late payment at an annual rate equal to the
Prime Rate, adjusted as of the date of each change, plus two percentage
points, but in no event greater than the maximum amount permitted by
applicable law. Such interest shall be deposited in the Custodial Account by
the Seller on the date such late payment is made and shall cover the period
commencing with such Business Day on which such payment was due and ending
with the Business Day on which such payment is made, both inclusive. Such
interest shall be remitted along with the distribution payable on the next
succeeding Remittance Date. The payment by the Seller of any such interest
shall not be deemed an extension of time for payment or a waiver of any Event
of Default by the Seller."
(h) The first paragraph of Section 5.02 of the Initial Agreement
is hereby amended and restated in its entirety as follows:
"Not later than the 5th Business Day of each month (or if such 5th day
is not a Business Day, the Business Day next succeeding such 5th day), the
Seller shall furnish to the Master Servicer in electronic
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form mortgage loan level data as mutually agreed upon by the Seller and the
Master Servicer and the monthly reports substantially in the form of Exhibit J
attached hereto with respect to the Mortgage Loans and the period from but
including the first day of the preceding calendar month through but excluding
the first day of such month."
(i) The first paragraph of Section 5.03 of the Initial Agreement
is hereby amended and restated in its entirety as follows:
"Not later than the close of business on the Business Day preceding each
Remittance Date, the Seller shall either (a) deposit in the Custodial Account
from its own funds an amount equal to the principal and interest portion of
all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance
Rate) which were due on the Mortgage Loans during the applicable Due Period
and which were delinquent at the close of business on the immediately
preceding Determination Date or which were deferred pursuant to Section 4.01,
(b) cause to be made an appropriate entry in the records of the Custodial
Account that amounts held for future distribution have been, as permitted by
this Section 5.03, used by the Seller in discharge of any such Monthly Advance
or (c) make Monthly Advances in the form of any combination of (a) or (b)
aggregating the total amount of Monthly Advances to be made, whether or not
deferred pursuant to Section 4.01, which were due on a Mortgage Loan on the
immediately preceding Due Date and delinquent at the close of business on the
related Determination Date."
(j) The word "or" is deleted from the end of Section 8.01(vii),
the word "or" is added at the end of Section 8.01(viii) and the
following paragraph is hereby incorporated into the Agreement as
new Section 10.01(ix):
"(ix) failure by the Seller to duly perform, within the required time
period, its obligations under Section 2.04 and Section 2.05 of the Reg AB
Addendum which failure continues unremedied for a period of fourteen (14) days
after the date on which written notice of such failure, requiring the same to
be remedied, shall have been given to the Seller by any party to this
Agreement or by any master servicer responsible for master servicing the
Mortgage Loans pursuant to a securitization of such Mortgage Loans;"
(k) The following paragraph is hereby incorporated into the
Initial Agreement as new Section 11.19:
"Third Party Beneficiary. For purposes of this Agreement, including but
not limited to Section 2.04 and Section 2.05, respectively, of the Reg AB
Addendum, any Master Servicer shall be considered a third party beneficiary to
this Agreement (including the Reg AB Addendum and any other amendments or
modifications thereto) entitled to all the rights and benefits accruing to any
Master Servicer herein as if it were a direct party to this Agreement."
(l) Section 6.04 and Section 6.05 are hereby deleted from the
Initial Agreement, it being understood that they are superseded by
Section 2.04 and Section 2.05, respectively, of the Reg AB
Addendum.
(m) The second sentence in Section 8.01 of the Initial Agreement
is hereby replaced by the following:
"On or after the receipt by the Seller of such written notice of
termination, all authority and power of the Seller, as servicer, under this
Agreement, whether with respect to the Mortgage Loans or otherwise, shall pass
to and be vested in the successor appointed pursuant to Section 11.01."
(n) Exhibit J to the Initial Agreement is hereby replaced in its
entirety with the Amended and Restated Exhibit J attached to this
Assignment as Exhibit II.
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6. Amendments to the Reg AB Addendum
(a) Section 2.03(h) of the Reg AB Addendum is amended to also
require that written notice provided pursuant to Section 2.03(f)
shall be given in the form of Exhibit C.
(b) Section 2.06(b) of the Reg AB Addendum is amended as
follows:
1. The first paragraph of Section 2.06(b) is amended to
insert the phrase ", the Master Servicer, if any" after each
occurrence of the phrase "the Purchaser".
2. The last sentence of the second paragraph of Section
2.06(b) is amended to insert the phrase "and the other
certifications" after the phrase "any assessment of
compliance and attestation".
(c) Section 2.07(a) of the Reg AB Addendum is amended as
follows:
1. The phrase "including but not limited to any Master
Servicer" is inserted before the phrase "responsible for the
preparation,".
2. The clause ", affiliates" is inserted before the words
"and agents of each of the foregoing".
(d) Exhibit C to the Reg AB Addendum is replaced by Exhibit III
hereto.
7. Continuing Effect
Except as contemplated hereby, the Agreement shall remain in full force
and effect in accordance with its terms.
8. Governing Law
This Assignment and the rights and obligations hereunder shall be
governed by and construed in accordance with the internal laws of the State of
New York.
9. Notices
Any notices or other communications permitted or required under the
Agreement to be made to the Depositor, MSMCI, the Seller, the Servicer and the
Trustee shall be made in accordance with the terms of the Agreement and shall
be sent as follows:
In the case of MSMCI:
Xxxxxx Xxxxxxx Mortgage Capital Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-9AR
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With a copy to:
Xxxxxx Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: General Counsel's Office
In the case of the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-9AR
In the case of the Trustee:
LaSalle Bank National Association
000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attention: Global Securities and Trust Services MSM 2006-9AR
In the case of Wachovia and the Servicer:
Wachovia Mortgage Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Xxxxxx Xxxxxx
With a copy to:
Wachovia Mortgage Corporation
0000 Xxxxxxxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Xxx Xxxxxx
or to such other address as may hereafter be furnished by the Depositor and
the Trustee to the parties in accordance with the provisions of the Agreement.
10. Ratification
Except as modified and expressly amended by this Assignment, the
Agreement is in all respects ratified and confirmed, and all terms, provisions
and conditions thereof shall be and remain in full force and effect.
11. Counterparts
This Assignment may be executed in counterparts, each of which when so
executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same instrument.
12. Definitions
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Any capitalized term used but not defined in this Assignment has the
same meaning as in the Agreement.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment the
day and year first above written.
XXXXXX XXXXXXX MORTGAGE CAPITAL INC.
By: /s/ Xxxxxxx Xxx
-----------------------------------
Name: Xxxxxxx Xxx
Title: XX
XXXXXX XXXXXXX CAPITAL I INC.
By: /s/ Xxxxxxx Xxx
-----------------------------------
Name: Xxxxxxx Xxx
Title: VP
WACHOVIA MORTGAGE CORPORATION
By: /s/ Xxxx Xxxxx
-----------------------------------
Name: Xxxx Xxxxx
Title: AVP - Investor Development
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Xxxxxxxx Xxxxx
-----------------------------------
Name: Xxxxxxxx Xxxxx
Title: VP
LASALLE BANK, NATIONAL
ASSOCIATION, as Trustee of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2006-9AR
By: /s/ Xxxxx X. Xxxx
-----------------------------------
Name: Xxxxx X. Xxxx
Title: Assistant VP
EXHIBIT I
Mortgage Loan Schedule
[see Schedule A to Pooling and Servicing Agreement]
Exhibit IIA: Standard File Layout - Delinquency Reporting
----------------------------------------------------------------------------------------------------------------
Column/Header Name Description Decimal Format Comment
------------------------------------------ ------------------------------------------ ---------- ---------------
SERVICER_LOAN_NBR A unique number assigned to a loan by
the Servicer. This may be different
than the LOAN_NBR
------------------------------------------ ------------------------------------------ ---------- ---------------
LOAN_NBR A unique identifier assigned to each
loan by the originator.
------------------------------------------ ------------------------------------------ ---------- ---------------
CLIENT_NBR Servicer Client Number
------------------------------------------ ------------------------------------------ ---------- ---------------
SERV_INVESTOR_NBR Contains a unique number as
assigned by an external servicer to
identify a group of loans in their
system.
------------------------------------------ ------------------------------------------ ---------- ---------------
BORROWER_FIRST_NAME First Name of the Borrower.
------------------------------------------ ------------------------------------------ ---------- ---------------
BORROWER_LAST_NAME Last name of the borrower.
------------------------------------------ ------------------------------------------ ---------- ---------------
XXXX_XXXXXXX Xxxxxx Name and Number of Property
------------------------------------------ ------------------------------------------ ---------- ---------------
PROP_STATE The state where the property located.
------------------------------------------ ------------------------------------------ ---------- ---------------
PROP_ZIP Zip code where the property is located.
------------------------------------------ ------------------------------------------ ---------- ---------------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next
MM/DD/YYYY payment is due to 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 MM/DD/YYYY
was filed.
------------------------------------------ ------------------------------------------ ---------- ---------------
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 MM/DD/YYYY
has been approved by the courts
------------------------------------------ ------------------------------------------ ---------- ---------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From MM/DD/YYYY
Bankruptcy. Either by Dismissal,
Discharged and/or a Motion For Relief
Was Granted.
------------------------------------------ ------------------------------------------ ---------- ---------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was MM/DD/YYYY
Approved By The Servicer
------------------------------------------ ------------------------------------------ ---------- ---------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For
A Loan Such As;
------------------------------------------ ------------------------------------------ ---------- ---------------
------------------------------------------ ------------------------------------------ ---------- ---------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is MM/DD/YYYY
Scheduled To End/Close
------------------------------------------ ------------------------------------------ ---------- ---------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually MM/DD/YYYY
Completed
------------------------------------------ ------------------------------------------ ---------- ---------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to MM/DD/YYYY
the xservicer with instructions to
begin foreclosure proceedings.
------------------------------------------ ------------------------------------------ ---------- ---------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to MM/DD/YYYY
Pursue Foreclosure
------------------------------------------ ------------------------------------------ ---------- ---------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney MM/DD/YYYY
in a Foreclosure Action
------------------------------------------ ------------------------------------------ ---------- ---------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is MM/DD/YYYY
expected to occur.
------------------------------------------ ------------------------------------------ ---------- ---------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
------------------------------------------ ------------------------------------------ ---------- ---------------
FRCLSR_SALE_AMT The amount a property sold for at the 2 No commas(,)
foreclosure sale. or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
EVICTION_START_DATE The date the servicer initiates eviction MM/DD/YYYY
of the borrower.
------------------------------------------ ------------------------------------------ ---------- ---------------
EVICTION_COMPLETED_DATE The date the court revokes legal MM/DD/YYYY
possession of the property from the
borrower.
------------------------------------------ ------------------------------------------ ---------- ---------------
LIST_PRICE The price at which an REO property is 2 No commas(,)
marketed. or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
LIST_DATE The date an REO property is listed at a MM/DD/YYYY
particular price.
------------------------------------------ ------------------------------------------ ---------- ---------------
OFFER_AMT The dollar value of an offer for an REO 2 No commas(,)
property. or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
OFFER_DATE_TIME The date an offer is received by DA MM/DD/YYYY
Admin or by the Servicer.
------------------------------------------ ------------------------------------------ ---------- ---------------
REO_CLOSING_DATE The date the REO sale of the property is MM/DD/YYYY
scheduled to close.
------------------------------------------ ------------------------------------------ ---------- ---------------
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 MM/DD/YYYY
performed.
------------------------------------------ ------------------------------------------ ---------- ---------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
------------------------------------------ ------------------------------------------ ---------- ---------------
------------------------------------------ ------------------------------------------ ---------- ---------------
CURR_PROP_VAL The current "as is" value of the 2
property based on brokers price opinion
or appraisal.
------------------------------------------ ------------------------------------------ ---------- ---------------
REPAIRED_PROP_VAL The amount the property would be worth 2
if repairs are completed pursuant to a
broker's price opinion or appraisal.
------------------------------------------ ------------------------------------------ ---------- ---------------
If applicable:
--------------
------------------------------------------ ------------------------------------------ ---------- ---------------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
------------------------------------------ ------------------------------------------ ---------- ---------------
DELINQ_REASON_CODE The circumstances which caused a
borrower to stop paying on a loan.
Code indicates the reason why the
loan is in default for this cycle.
------------------------------------------ ------------------------------------------ ---------- ---------------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed MM/DD/YYYY
With Mortgage Insurance Company.
------------------------------------------ ------------------------------------------ ---------- ---------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,)
or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company MM/DD/YYYY
Disbursed Claim Payment
------------------------------------------ ------------------------------------------ ---------- ---------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid 2 No commas(,)
On Claim or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance MM/DD/YYYY
Company
------------------------------------------ ------------------------------------------ ---------- ---------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool 2 No commas(,)
Insurance Company or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was MM/DD/YYYY
Issued By The Pool Insurer
------------------------------------------ ------------------------------------------ ---------- ---------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance 2 No commas(,)
Company 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 ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
------------------------------------------ ------------------------------------------ ---------- ---------------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With MM/DD/YYYY
HUD
------------------------------------------ ------------------------------------------ ---------- ---------------
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,)
or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim MM/DD/YYYY
Payment
------------------------------------------ ------------------------------------------ ---------- ---------------
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,)
or dollar
signs ($)
------------------------------------------ ------------------------------------------ ---------- ---------------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the MM/DD/YYYY
Veterans Admin
------------------------------------------ ------------------------------------------ ---------- ---------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim MM/DD/YYYY
Payment
------------------------------------------ ------------------------------------------ ---------- ---------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,)
or dollar
signs ($)
----------------------------------------------------------------------------------------------------------------
Exhibit IIB: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
Xxxxx Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
The FNMA Delinquent Reason Code field should show the Reason for Delinquency
as follows:
-------------------------------------------------------------------
Delinquency 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
-------------------------------------------------------------------
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
-------------------------------------------------------------------
Status Code Status Description
------------------ ------------------------------------------------
09 Forbearance
------------------ ------------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------ ------------------------------------------------
24 Government Seizure
------------------ ------------------------------------------------
26 Refinance
------------------ ------------------------------------------------
27 Assumption
------------------ ------------------------------------------------
28 Modification
------------------ ------------------------------------------------
29 Charge-Off
------------------ ------------------------------------------------
30 Third Party Sale
------------------ ------------------------------------------------
31 Probate
------------------ ------------------------------------------------
32 Military Indulgence
------------------ ------------------------------------------------
43 Foreclosure Started
------------------ ------------------------------------------------
44 Deed-in-Lieu Started
------------------ ------------------------------------------------
49 Assignment Completed
------------------ ------------------------------------------------
61 Second Lien Considerations
------------------ ------------------------------------------------
62 Veteran's Affairs-No Bid
------------------ ------------------------------------------------
63 Veteran's Affairs-Refund
------------------ ------------------------------------------------
64 Veteran's Affairs-Buydown
------------------ ------------------------------------------------
65 Chapter 7 Bankruptcy
------------------ ------------------------------------------------
66 Chapter 11 Bankruptcy
------------------ ------------------------------------------------
67 Chapter 13 Bankruptcy
-------------------------------------------------------------------
Exhibit IIC: Standard File Layout - Master Servicing
-------------------------------------------------------------------------------------------------------------------------------
Column Name Description Decimal Format Comment Max
Size
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
LOAN_NBR A unique identifier assigned to each Text up to 10 digits 10
loan by the investor.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERVICER_LOAN_NBR A unique number assigned to a loan Text up to 10 digits 10
by the Servicer. This may be
different than the LOAN_NBR.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, 30
file. It is not separated by first First)
and last name.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SCHED_PAY_AMT Scheduled monthly principal and 2 No commas(,) or dollar signs ($) 11
scheduled interest payment that a
borrower is expected to pay, P&I
constant.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
NOTE_INT_RATE The loan interest rate as reported 4 Max length of 6 6
by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
NET_INT_RATE The loan gross interest rate less 4 Max length of 6 6
the service fee rate as reported by
the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_FEE_RATE The servicer's fee rate for a loan 4 Max length of 6 6
as reported by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_FEE_AMT The servicer's fee amount for a loan 2 No commas(,) or dollar signs ($) 11
as reported by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
NEW_PAY_AMT The new loan payment amount as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6
calculate a forecasted rate.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
ACTL_BEG_PRIN_BAL The borrower's actual principal 2 No commas(,) or dollar signs ($) 11
balance at the beginning of the
processing cycle.
-------------------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal 2 No commas(,) or dollar signs ($) 11
balance at the end of the processing
cycle.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing MM/DD/YYYY 10
cycle that the borrower's next
payment is due to the Servicer, as
reported by Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_DATE_1 The curtailment date associated with MM/DD/YYYY 10
the first curtailment amount.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
CURT_ADJ_ AMT_1 The curtailment interest on the 2 No commas(,) or dollar signs ($) 11
first curtailment amount, if
applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_DATE_2 The curtailment date associated with MM/DD/YYYY 10
the second curtailment amount.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
CURT_ADJ_ AMT_2 The curtailment interest on the 2 No commas(,) or dollar signs ($) 11
second curtailment amount, if
applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SERV_CURT_DATE_3 The curtailment date associated with MM/DD/YYYY 10
the third curtailment amount.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
CURT_ADJ_AMT_3 The curtailment interest on the 2 No commas(,) or dollar signs ($) 11
third curtailment amount, if
applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
PIF_DATE The paid in full date as reported by MM/DD/YYYY 10
the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
Action Code Key: 15=Bankruptcy, 2
ACTION_CODE The standard FNMA numeric code used 30=Foreclosure, , 60=PIF,
to indicate the default/delinquent 63=Substitution,
status of a particular loan. 65=Repurchase,70=REO
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
INT_ADJ_AMT The amount of the interest 2 No commas(,) or dollar signs ($) 11
adjustment as reported by the
Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment 2 No commas(,) or dollar signs ($) 11
-------------------------------------------------------------------------------------------------------------------------------
amount, if applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
LOAN_LOSS_AMT The amount the Servicer is passing 2 No commas(,) or dollar signs ($) 11
as a loss, if applicable.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs ($) 11
amount due at the beginning of the
cycle date to be passed through to
investors.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SCHED_END_PRIN_BAL The scheduled principal balance due 2 No commas(,) or dollar signs ($) 11
to investors at the end of a
processing cycle.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer for the
current cycle -- only applicable for
Scheduled/Scheduled Loans.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
SCHED_NET_INT The scheduled gross interest amount 2 No commas(,) or dollar signs ($) 11
less the service fee amount for the
current cycle as reported by the Servicer
-- only applicable for
Scheduled/Scheduled Loans.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
ACTL_PRIN_AMT The actual principal amount 2 No commas(,) or dollar signs ($) 11
collected by the Servicer for the current
reporting cycle -- only applicable for
Actual/Actual Loans.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
ACTL_NET_INT The actual gross interest amount 2 No commas(,) or dollar signs ($) 11
less the service fee amount for the
current reporting cycle as reported by
the Servicer -- only applicable for
Actual/Actual Loans.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs ($) 11
borrower prepays on his loan as
reported by the Servicer.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for 2 No commas(,) or dollar signs ($) 11
the loan waived by the servicer.
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
MOD_TYPE The Modification Type. Varchar - value can be alpha or 30
-------------------------------------------------------------------------------------------------------------------------------
numeric
------------------------------------ -------------------------------------- --------- ---------------------------------- ------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal 2 No commas(,) or dollar signs ($) 11
and interest advances made by
Servicer.
-------------------------------------------------------------------------------------------------------------------------------
Exhibit IID : Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and
all credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not being
passed until the following month. The Servicer is responsible to remit
all funds pending loss approval and /or resolution of any disputed
items.
(e)
(f) 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.
(g) Credits:
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale,
bid instructions and Escrow Agent / Attorney Letter of
Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined on the 332 form
22. The total of lines 14 through 21.
Please Note: For HUD/VA loans, use line (18a) for Part A/Initial proceeds
and line (18b) for Part B/Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
23. The total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis ( ).
Exhibit IIE: Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
---------------------- -------------------- ------------------------------
| Servicer Loan No. | | Servicer Name | | Servicer Address |
| | | | | |
| | | | | |
---------------------- -------------------- ------------------------------
XXXXX FARGO BANK, N.A. Loan No._____________________________
Borrower's Name: ________________________________________________________
Property Address: _______________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount _________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $___________ (1)
(2) Interest accrued at Net Rate ___________ (2)
(3) Accrued Servicing Fees ___________ (3)
(4) Attorney's Fees ___________ (4)
(5) Taxes (see page 2) ___________ (5)
(6) Property Maintenance ___________ (6)
(7) MI/Hazard Insurance Premiums (see page 2) ___________ (7)
(8) Utility Expenses ___________ (8)
(9) Appraisal/BPO ___________ (9)
(10) Property Inspections ___________ (10)
(11) FC Costs/Other Legal Expenses ___________ (11)
(12) Other (itemize) ___________ (12)
Cash for Keys________________________ ___________ (12)
HOA/Condo Fees_______________________ ___________ (12)
_____________________________________ ___________ (12)
Total Expenses $___________ (13)
Credits:
(14) Escrow Balance $___________ (14)
(15) HIP Refund ___________ (15)
(16) Rental Receipts ___________ (16)
(17) Hazard Loss Proceeds ___________ (17)
(18) Primary Mortgage Insurance / Gov't Insurance ___________ (18a)
HUD Part A
___________ (18b)
HUD Part B
(19) Pool Insurance Proceeds ___________ (19)
(20) Proceeds from Sale of Acquired Property ___________ (20)
(21) Other (itemize) ___________ (21)
_________________________________________ ___________ (21)
Total Credits $___________ (22)
Total Realized Loss (or Amount of Gain) $____________(23)
Escrow Disbursement Detail
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
EXHIBIT III
Additional Disclosure Notification
Xxxxx Fargo Bank, N.A. as [Securities Administrator and Master Servicer]
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Fax: (000) 000-0000
E-mail: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
Attn: Corporate Trust Services - MSM [deal number] - SEC REPORT PROCESSING
RE: **Additional Form [ ] Disclosure**Required
Ladies and Gentlemen:
In accordance with Section [2.03(d)][2.03(e)][2.03(f)] of the Regulation
AB Compliance Addendum, dated as of April 17, 2006, as amended by the
Assignment, Assumption and Recognition Agreement dated as of [date] among
Xxxxxx Xxxxxxx Capital I Inc., as Depositor, Wachovia Mortgage Corporation,
Xxxxx Fargo Bank, National Association, as Master Servicer, and LaSalle Bank
National Association as Trustee. The Undersigned hereby notifies you that
certain events have come to our attention that [will][may] need to be
disclosed on Form [ ].
Description of Additional Form [ ] Disclosure:
List of Any Attachments hereto to be included in the Additional Form [ ]
Disclosure:
Any inquiries related to this notification should be directed to [ ],
phone number: [ ]; email address: [ ].
[NAME OF PARTY]
as [role]
By: __________________
Name:
Title:
