Exhibit 99.4
EXECUTION COPY
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GSAA HOME EQUITY TRUST 2007-6
ASSET-BACKED CERTIFICATES
SERIES 2007-6
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
among
GS MORTGAGE SECURITIES CORP.,
as Assignor
DEUTSCHE BANK NATIONAL TRUST COMPANY,
AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2007-6
as Assignee
and
WACHOVIA MORTGAGE CORPORATION
as Servicer
and as acknowledged by
XXXXX FARGO BANK, NATIONAL ASSOCIATION
as Master Servicer
Dated as of
May 30, 2007
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated May 30,
2007 (this "Agreement"), among GS Mortgage Securities Corp. (the "Assignor" or
"Depositor"), Deutsche Bank National Trust Company ("Deutsche Bank"), not in
its individual capacity, but solely as trustee (in such capacity, the
"Trustee") on behalf of GSAA Home Equity Trust 2007-6 (the "Assignee"),
Wachovia Mortgage Corporation (the "Servicer") and as acknowledged by Xxxxx
Fargo Bank, National Association ("Xxxxx Fargo"), as master servicer (in such
capacity, the "Master Servicer").
For and in consideration of the mutual promises contained herein
and other good and valuable consideration the receipt and sufficiency of which
are hereby acknowledged, and of the mutual covenants herein contained, the
parties hereto hereby agree as follows:
1. Assignment, Assumption and Conveyance.
The Assignor hereby conveys, sells, grants, transfers and assigns
to the Assignee all of the right, title and interest (other than those rights
specifically retained by the Assignor pursuant to this Agreement) of the
Assignor, as purchaser, in, to and under (a) certain mortgage loans acquired
through the Xxxxxxx Sachs Residential Mortgage Conduit Program (the "Mortgage
Loans") listed on the schedule (the "Mortgage Loan Schedule") attached hereto
as Exhibit A and (b) solely insofar as it relates to the Mortgage Loans, that
certain Seller's Purchase, Warranties and Servicing Agreement, dated as of
April 1, 2006 (the "Servicing Agreement"), by and between Xxxxxxx Xxxxx
Mortgage Company as predecessor to the Assignor (in such capacity, the
"Owner") and the Servicer. The Assignor hereby agrees that it will (i) deliver
possession of notes evidencing the Mortgage Loans to, or at the direction of,
the Assignee or its designee and (ii) take in a timely manner all necessary
steps under all applicable laws to convey and to perfect the conveyance of the
Mortgage Loans as required under the Master Servicing and Trust Agreement,
dated as of May 1, 2007 (the "Trust Agreement"), among the Depositor, Deutsche
Bank, as Trustee and as a custodian, U.S. Bank National Association, as a
custodian, The Bank of New York Trust Company, National Association, as a
custodian and Xxxxx Fargo, as Master Servicer, securities administrator and as
a custodian.
The Assignor specifically reserves and does not assign to the
Assignee hereunder (i) any and all right, title and interest in, to and under
and any obligations of the Assignor with respect to any mortgage loans subject
to the Servicing Agreement that are not the Mortgage Loans set forth on the
Mortgage Loan Schedule and are not the subject of this Agreement, (ii) any
rights and obligations of the Assignor pursuant to the Servicing Agreement
arising prior to the date hereof or (iii) the rights and obligations of the
Owner under the Servicing Agreement relating to the Owner's right to terminate
the Servicer, the Owner's right to receive information from the Servicer, and
the Owner's obligation to execute certain confidentiality agreements.
The Assignee hereby assumes all of the Assignor's obligations
under the Mortgage Loans and the Servicing Agreement solely insofar as such
obligations relate to the Mortgage Loans, other than the obligations set forth
in clauses (ii) and (iii) of the preceding paragraph.
The parties hereto agree that with respect to the Mortgage Loans
being serviced under the Servicing Agreement the Servicing Fee Rate for the
Mortgage Loans shall be the rate set forth on the Mortgage Loan Schedule.
2. Recognition of the Assignee.
(a) The Servicer hereby acknowledges and agrees that from and
after the date hereof (i) the Trust will be the owner of the Mortgage Loans
and the Servicer will be the servicer of the Mortgage Loans on or after the
applicable Transfer Date pursuant to the terms set forth in the Trust
Agreement, (ii) the Servicer shall look solely to the Trust (including the
Trustee and the Master Servicer acting on the Trust's behalf) for performance
of any obligations of the Assignor under the Mortgage Loans and the Servicing
Agreement (solely insofar as it relates to the Mortgage Loans) (except for
such obligations of the Assignor retained by the Assignor hereunder), (iii)
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 (A) the Mortgage Loans and (B) the Servicing
Agreement, including, without limitation, the enforcement of the document
delivery requirements set forth in Section 2.07 of the Servicing Agreement,
and shall be entitled to enforce all of the obligations of the Servicer
thereunder insofar as they relate to the Mortgage Loans, including without
limitation, the remedies for breaches of representations and warranties set
forth in Article III of the Servicing Agreement (except for the rights and
remedies retained by the Assignor hereunder), (iv) all references to the Owner
under the Servicing Agreement insofar as they relate to the Mortgage Loans
shall be deemed to refer to the Trust (except to the extent of the rights and
obligations retained by the Assignor hereunder) (including the Trustee and the
Servicer acting on the Trust's behalf) and (v) the Mortgage Loans will be part
of a REMIC, and 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) after the date hereof in accordance with the Servicing
Agreement but in no event in a manner that would (A) cause the REMIC to fail
to 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). Neither the Servicer
nor the Assignor shall amend or agree to amend, modify, waiver, or otherwise
alter any of the terms or provisions of the Servicing Agreement which
amendment, modification, waiver or other alteration would in any way affect
the Mortgage Loans or the Servicer's performance under the Servicing Agreement
with respect to the Mortgage Loans without the prior written consent of the
Master Servicer.
(b) 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, notwithstanding
anything herein to the contrary, shall service all of 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.
(c) The Servicer further acknowledges that, from and after the
date hereof, it (and any of its successors under the Servicing Agreement) will
be subject to the supervision of the Master Servicer with respect to the
Mortgage Loans and that the Master Servicer, acting on behalf of the Trustee
as the owner of the Mortgage Loans, shall have the same rights with respect to
the Mortgage Loans as were assigned by GSMC, in its capacity as the original
"Owner" under the Servicing Agreement, to the Assignor under the GSMC
Assignment Agreement, and further assigned hereunder by the Assignor to the
Trustee, on behalf of the trust formed pursuant to the Trust Agreement. Such
rights that Master Servicer may enforce on behalf of the Trustee will include,
without limitation, the right to terminate the Servicer under the Servicing
Agreement with respect to the Mortgage Loans upon the occurrence of an event
of default thereunder, the right to receive all remittances required to be
made by the Servicer with respect to the Mortgage Loans under the Servicing
Agreement, the right to receive all monthly reports and other data required to
be delivered by the Servicer with respect to the Mortgage Loans under the
Servicing Agreement and the right to exercise certain rights of consent and
approval relating to actions taken by the Servicer with respect to the
Mortgage Loans.
(d) All reports and other data required to be delivered by the Servicer
to the "Owner" under the Servicing Agreement with respect to the Mortgage
Loans shall be delivered to the Master Servicer at the address set forth in
Section 7 hereof. All remittances required to be made to the Trustee, 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, National Association
ABA #: 000000000
For credit to: SAS Clearing
Acct #: 0000000000
FFC to: GSAA 2007-6 Acct # 53154300
3. Monthly Reporting.
Notwithstanding anything to the contrary in the Servicing
Agreement, with respect to the Mortgage Loans, not later than the tenth (10th)
calendar day of each month (or if such tenth (10th) calendar day is not a
Business Day, the immediately succeeding Business Day), the Servicer shall
furnish to the Master Servicer (i)(a) monthly loan data in the format set
forth in Exhibit B hereto (or in such other format mutually agreed upon
between the Servicer and the Master Servicer), (b) default loan data in the
format set forth in Exhibit C hereto (or in such other format mutually agreed
upon between the Servicer and the Master Servicer and (c) information
regarding the realized losses and gains in the format set forth in Exhibit D
hereto (or in such other format 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 such information required
pursuant to clause (i)(a) above on a magnetic tape, electronic mail, or other
similar media reasonably acceptable to the Master Servicer, and (iii) all
supporting documentation with respect to the information required under the
preceding paragraph.
4. Representations and Warranties of the Assignee.
The Assignee warrants and represents to and covenants with, the
Assignor, the Servicer and the Trust as of the date hereof that:
(a) 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 Assignor or
the Responsible Party other than those contained in the Sale and Servicing
Agreement or this Assignment Agreement.
(b) it is duly and legally authorized to enter into this
Assignment Agreement and to perform its obligations hereunder and under the
Sale and Servicing Agreement.
(c) 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 warrants and represents to the Assignee and the Trust
as of date hereof that:
(a) The Assignor is the sole owner of record and holder of the
Mortgage Loans and the indebtedness evidenced by each Mortgage Note. The
Mortgage Loans are not assigned or pledged, and the Assignor has good,
indefeasible and marketable title thereto, and has full right to
transfer and sell the Mortgage Loans to the Assignee free and clear of
any encumbrance, equity, participation interest, lien, pledge, charge,
claim or security interest, and has full right and authority subject to
no interest or participation of, or agreement with, any other party, to
sell and assign each Mortgage Loan pursuant to this Agreement and
following the sale of each Mortgage Loan, the Assignee will own such
Mortgage Loan free and clear of any encumbrance, equity, participation
interest, lien, pledge, charge, claim or security interest. The Assignor
intends to relinquish all rights to possess, control and monitor the
Mortgage Loans;
(b) The Assignor has not waived the performance by any Mortgagor
of any action, if such Mortgagor's failure to perform such action would
cause the Mortgage Loan to be in default, nor has the Servicer waived
any default resulting from any action or inaction by such Mortgagor;
(c) With respect to the Mortgage Loans, any and all requirements
of any federal, state or local law including, without limitation, usury,
truth-in-lending, real estate settlement procedures, consumer credit
protection, equal credit opportunity and disclosure laws, all applicable
predatory and abusive lending laws or unfair and deceptive practices
laws applicable to the Mortgage Loans, including, without limitation,
any
provisions related to Prepayment Premiums, have been complied with, the
consummation of the transactions contemplated hereby will not involve
the violation of any such laws or regulations; and
(d) With respect to the Mortgage Loans, none of the Mortgage Loans
are (a) subject to the Home Ownership and Equity Protection Act of 1994
or (b) classified as "high cost," "threshold," "covered" or "predatory"
loans under any other applicable federal, state or local 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).
6. Remedies for Breach of Representations and Warranties of the
Assignor.
With respect to the Mortgage Loans, the Assignor hereby
acknowledges and agrees that in the event of any breach of the representations
and warranties made by the Assignor set forth in Section 5 hereof or as set
forth in the Servicing Agreement that materially and adversely affects the
value of the Mortgage Loans or the interest of the Assignee or the Trust
therein, within sixty (60) days of the earlier of either discovery by or
notice to the Assignor of such breach of a representation or warranty, it
shall cure, purchase, cause the purchase of, or substitute for the applicable
Mortgage Loan in the same manner and subject to the conditions set forth in
the Servicing Agreement.
7. Termination; Optional Clean-Up Call.
In connection with the Trust Agreement, the Master Servicer hereby
agrees to the following obligations described below. For purposes of this
Section 7 only, any capitalized term used but not defined in this Assignment
Agreement has the same meaning assigned thereto in the Trust Agreement.
In the event that a Person or Persons specified in Section 11.01
of the Trust Agreement chooses to exercise its option set forth therein to
purchase the Mortgage Loans and REO Properties or to conduct an Auction Call
for such property of the Trust Fund, as the case may be, by no later than the
tenth (10th) day of the month of the final distribution, such Person shall
notify the Depositor, the Trustee and the Securities Administrator of the
final Distribution Date and of the applicable purchase or sale price of the
Mortgage Loans and REO Properties determined and in the manner as provided in
the Trust Agreement.
In the event the Mortgage Loans and REO Properties are purchased
or sold pursuant to Section 11.01 of the Trust Agreement, the Master Servicer
shall remit to the Securities Administrator the applicable Termination Price
on the Remittance Date immediately preceding the applicable final Distribution
Date. Upon such final deposit with respect to the Trust Fund and the receipt
by the Securities Administrator and the Custodians of a Request for Release
therefor, the Master Servicer shall direct the Custodians to release to the
Master Servicer or its designee the Custodial Files for the Mortgage Loans.
8. Continuing Effect. Except as contemplated hereby, the Servicing
Agreement and Sale Agreement shall remain in full force and effect in
accordance with their respective terms.
9. Notices. Any notices or other communications permitted or
required hereunder or under the Servicing Agreement or Sale 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:
(a) in the case of the Servicer,
Wachovia Mortgage Corporation
0000 Xxxxxxxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Xxx Xxxxxx
or such other address as may hereafter be furnished by the Servicer;
(b) in the case of the Master Servicer,
Xxxxx Fargo Bank, National Association
X.X. Xxx 00 Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - GSAA 2007-6
Or in the case of overnight deliveries:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx,
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - GSAA 2007-6
or such address as may hereafter be furnished by the Master Servicer;
(c) in the case of the Assignee,
Deutsche Bank National Trust Company
0000 Xxxx Xx. Xxxxxx Xxxxx
Xxxxx Xxx, Xxxxxxxxxx 00000-0000
Attention: Trust Administration - GS0706
Tel.: (000) 000-0000
or such other address as may hereafter be furnished by the Assignee; and
(d) in the case of the Assignor,
GS Mortgage Securities Corp.
00 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxx Xxxxxxx
Tel.: (000) 000-0000
Fax: (000) 000-0000
or such address as may hereafter be furnished by the Assignor.
10. Counterparts. This 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.
11. Definitions. Any capitalized term used but not defined in this
Agreement has the meaning assigned thereto in the Servicing Agreement.
12. Trustee Capacity. It is expressly understood and agreed by the
parties hereto that (i) this Agreement is executed and delivered by Deutsche
Bank not individually or personally but solely on behalf of GSAA Home Equity
Trust 2007-6, as the Assignee, in the exercise of the powers and authority
conferred and vested in it, (ii) each of the representations, undertakings and
agreements by Deutsche Bank is made and intended for the purpose of binding
only the GSAA Home Equity Trust 2007-6, (iii) nothing herein contained shall
be construed as creating any liability for Deutsche Bank individually or
personally, to perform any covenant (either express or implied) contained
herein, and all such liability, if any, is hereby 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
Deutsche Bank be personally liable for the payment of any indebtedness or
expenses of the GSAA Home Equity Trust 2007-6, or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or
undertaken by the GSAA Home Equity Trust 2007-6 under this Agreement, the
Trust Agreement or any related document.
13. Third Party Beneficiary. The parties agree that the Master
Servicer is intended to be, and shall have the rights of, a third party
beneficiary of this Assignment Agreement.
14. Miscellaneous.
(a) This Agreement shall be construed in accordance with the laws
of the State of New York, without regard to conflicts of law principles,
and the obligations, rights and remedies of the parties hereunder shall
be determined in accordance with such laws.
(b) No term or provision of this Agreement may be waived or
modified unless such waiver or modification is in writing and signed by
the party against whom such waiver or modification is sought to be
enforced.
(c) This Agreement shall inure to the benefit of (i) the
successors and assigns of the parties hereto and (ii) the Trust
(including the Trustee and the Master Servicer acting on the Trust's
behalf). Any entity into which the Assignor or Assignee may be merged or
consolidated shall, without the requirement for any further writing, be
deemed Assignor, or Assignee, respectively, hereunder.
(d) Each of this Agreement and the Servicing Agreement shall
survive the conveyance of the Mortgage Loans to the Trust and the
assignment of the purchase agreements and the Servicing Agreement (to
the extent assigned hereunder) by the Assignor to the Assignee and by
Assignee to the Trust and nothing contained herein shall supersede or
amend the terms of the purchase agreements and the Servicing Agreement.
(e) In the event that any provision of this Agreement conflicts
with any provision of the purchase agreements or the Servicing Agreement
with respect to the Mortgage Loans, the terms of this Agreement shall
control.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized officers as of the date first above written.
GS MORTGAGE SECURITIES CORP.
By: /s/ Xxxxxxxx Xxxx
--------------------------------------
Name: Xxxxxxxx Xxxx
Title: Vice President
DEUTSCHE BANK NATIONAL TRUST COMPANY,
not in its individual capacity but
solely as Trustee
By: /s/ Xxx Xxxxx
--------------------------------------
Name: Xxx Xxxxx
Title: Authorized Signer
WACHOVIA MORTGAGE CORPORATION,
as Servicer
By: /s/ Xxxxxx X. Xxxxxx
-------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Vice President
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL ASSOCIATION,
as Master Servicer
By: /s/ Xxxxxx Xxxx
-------------------------------------
Name: Xxxxxx Xxxx
Title: Vice President
EXHIBIT A
Mortgage Loan Schedule
----------------------
[On File with the Securities Administrator as provided by the Depositor]
EXHIBIT B
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Standard Loan Level File Layout - Master Servicing
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----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
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 Text up to 10 digits
be different than the LOAN_NBR. 10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest payment that 2 No commas(,) or dollar
a borrower is expected to pay, P&I constant. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6
6
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
NET_INT_RATE The loan gross interest rate less the service fee rate as 4 Max length of 6
reported by the Servicer. 6
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by the Servicer. 4 Max length of 6
6
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_FEE_AMT The servicer's fee amount for a loan as reported by the 2 No commas(,) or dollar
Servicer. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
NEW_PAY_AMT The new loan payment amount as reported by the Servicer. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6
6
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
ARM_INDEX_RATE The index the Servicer is using to calculate a forecasted rate. 4 Max length of 6
6
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the beginning of the 2 No commas(,) or dollar
processing cycle. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end of the 2 No commas(,) or dollar
processing cycle. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the borrower's MM/DD/YYYY
next payment is due to the Servicer, as reported by Servicer. 10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_DATE_1 The curtailment date associated with the first curtailment MM/DD/YYYY
amount. 10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_DATE_2 The curtailment date associated with the second curtailment MM/DD/YYYY
amount. 10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Exhibit B: Continued Standard Loan Level File Layout
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Column Name Description Decimal Format Comment
Max
Size
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SERV_CURT_DATE_3 The curtailment date associated with the third curtailment MM/DD/YYYY
amount. 10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment amount, if 2 No commas(,) or dollar
applicable. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
PIF_AMT The loan "paid in full" amount as reported by the Servicer. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY
10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Action Code Key:
ACTION_CODE The standard FNMA numeric code used to indicate the 15=Bankruptcy, 2
default/delinquent status of a particular loan. 30=Foreclosure, , 60=PIF,
63=Substitution,
65=Repurchase,70=REO
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
INT_ADJ_AMT The amount of the interest adjustment as reported by the 2 No commas(,) or dollar
Servicer. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if applicable. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if applicable. 2 No commas(,) or dollar
signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Plus the following applicable fields:
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at the beginning 2 No commas(,) or dollar
of the cycle date to be passed through to investors. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors at the end of 2 No commas(,) or dollar
a processing cycle. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SCHED_PRIN_AMT The scheduled principal amount as reported by the Servicer for 2 No commas(,) or dollar
the current cycle -- only applicable for Scheduled/Scheduled signs ($) 11
Loans.
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
SCHED_NET_INT The scheduled gross interest amount less the service fee amount 2 No commas(,) or dollar
for the current cycle as reported by the Servicer -- only signs ($) 11
applicable for Scheduled/Scheduled Loans.
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
ACTL_PRIN_AMT The actual principal amount collected by the Servicer for the 2 No commas(,) or dollar
current reporting cycle -- only applicable for Actual/Actual signs ($) 11
Loans.
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
ACTL_NET_INT The actual gross interest amount less the service fee amount 2 No commas(,) or dollar
for the current reporting cycle as reported by the Servicer -- signs ($) 11
only applicable for Actual/Actual Loans.
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower prepays on his loan 2 No commas(,) or dollar
as reported by the Servicer. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived by the 2 No commas(,) or dollar
servicer. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Exhibit B: Continued Standard Loan Level File Layout
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Column Name Description Decimal Format Comment
Max Size
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
MOD_DATE The Effective Payment Date of the Modification for the loan. MM/DD/YYYY
10
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
MOD_TYPE The Modification Type. Varchar - value can be
alpha or numeric 30
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest advances made by 2 No commas(,) or dollar
Servicer. signs ($) 11
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
Flag to indicate if the repurchase of a loan is due to a breach Y=Breach
BREACH_FLAG of Representations and Warranties N=NO Breach 1
Let blank if N/A
----------------------- ----------------------------------------------------------------- ------- ------------------------- --------
EXHIBIT C
Standard File Layout - Delinquency Reporting
*The column/header names in bold are the minimum fields Xxxxx Fargo must receive from every Servicer
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
Column/Header Name Description Decimal Format
Comment
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOAN_NBR A unique identifier assigned to each loan by the originator.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
CLIENT_NBR Servicer Client Number
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
SERV_INVESTOR_NBR Contains a unique number as assigned by an external servicer
to identify a group of loans in their system.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BORROWER_FIRST_NAME First Name of the Borrower.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BORROWER_LAST_NAME Last name of the borrower.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
XXXX_XXXXXXX Xxxxxx Name and Number of Property
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
PROP_STATE The state where the property located.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
PROP_ZIP Zip code where the property is located.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment is due to the MM/DD/YYYY
servicer at the end of processing cycle, as reported by Servicer.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy filing.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY
by the courts
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either MM/DD/YYYY
by Dismissal, Discharged and/or a Motion For Relief Was Granted.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the servicer with instructions MM/DD/YYYY
to begin foreclosure proceedings.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure 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 MM/DD/YYYY
from the borrower.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or
dollar signs ($)
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,) or
dollar signs ($)
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
OCCUPANT_CODE Classification of how the property is occupied.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
PROP_CONDITION_CODE A code that indicates the condition of the property.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
CURR_PROP_VAL The current "as is" value of the property based on brokers 2
price opinion or appraisal.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2
completed pursuant to a broker's price opinion or appraisal.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
If applicable:
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
DELINQ_REASON_CODE The circumstances which caused a borrower to stop paying on a loan.
Code indicates the reason why the loan is in default for this cycle.
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage 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 ($)
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
MOTION_FOR_RELIEF_DATE The date the Motion for Relief was filed 10 MM/DD/YYYY
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
FRCLSR_BID_AMT The foreclosure sale bid amount 11 No commas(,) or
dollar signs ($)
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
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
------------------------------- ------------------------------------------------------------------------ ---------- ----------------
Exhibit 2: 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
Exhibit 2: Standard File Codes - Delinquency Reporting, Continued
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
--------------------- ---------------------------------------------
Exhibit 2: Standard File Codes - Delinquency Reporting, Continued
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 D
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:
--------
-------------------------------------------------------------------------------
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
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 ( ).
Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
----------------------- --------------------- --------------------------
Servicer Loan No. Servicer Name Servicer Address
----------------------- --------------------- --------------------------
XXXXX FARGO BANK, NATIONAL ASSOCIATION
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
---------------- -------------- ------------ -------------- --------------- ---------------- ------------------
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