Exhibit 99.13
Execution Copy
==============================================================================
GSAA HOME EQUITY TRUST 2006-16
ASSET-BACKED CERTIFICATES
SERIES 2006-16
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
among
GS MORTGAGE SECURITIES CORP.,
as Assignor
DEUTSCHE BANK NATIONAL TRUST COMPANY,
AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-16
as Assignee
XXXXXX'X GATE RESIDENTIAL MORTGAGE TRUST,
as Xxxxxx'x Gate
and
PHH MORTGAGE CORPORATION
as Servicer
and as acknowledged by
XXXXX FARGO BANK, NATIONAL ASSOCIATION
as Master Servicer
Dated as of
September 28, 2006
==============================================================================
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT made this 28th day
of September, 2006 (this "Assignment Agreement"), among PHH Mortgage
Corporation (formerly known as Cendant Mortgage Corporation), a New Jersey
corporation (the "Servicer"), Xxxxxx'x Gate Residential Mortgage Trust, a
Delaware statutory trust (formerly known as Cendant Residential Mortgage
Trust) ("Xxxxxx'x Gate" and, together with the Servicer, the "PHH Parties"),
Deutsche Bank National Trust Company, not in its individual capacity, but
solely as trustee (the "Trustee") on behalf of GSAA Home Equity Trust 2006-16
(the "Assignee"), and GS Mortgage Securities Corp., a Delaware corporation
(the "Assignor" or "Depositor"), and as acknowledged by Xxxxx Fargo Bank,
National Association ("Xxxxx Fargo"), as master servicer (in such capacity,
the "Master Servicer").
WHEREAS, Xxxxxxx Sachs Mortgage Company ("GSMC") and the PHH Parties
have entered into the Amended and Restated Mortgage Loan Flow Purchase, Sale &
Servicing Agreement, dated as of December 1, 2005 (the "Sale and Servicing
Agreement"), pursuant to which the PHH Parties sold to GSMC certain mortgage
loans listed on the mortgage loan schedule attached as an exhibit to the GSMC
Assignment Agreement (as defined below);
WHEREAS, GSMC has assigned and conveyed certain mortgage loans (the
"Mortgage Loans"), which Mortgage Loans are subject to the provisions of the
Sale and Servicing Agreement, to the Assignor pursuant to an Assignment,
Assumption and Recognition Agreement, dated as of September 28, 2006 (the
"GSMC Assignment Agreement");
WHEREAS, the Assignee has agreed on certain terms and conditions to
purchase from the Assignor the Mortgage Loans acquired by the Assignor
pursuant to the GSMC Assignment Agreement, which Mortgage Loans are listed on
the mortgage loan schedule attached as Exhibit 1 hereto (the "Mortgage Loan
Schedule"); and
WHEREAS, pursuant to a Master Servicing and Trust Agreement, dated
as of September 1, 2006 (the "Trust Agreement"), among the Depositor, the
Trustee, Deutsche Bank National Trust Company, as a custodian, U.S. Bank
National Association, as a custodian, JPMorgan Chase Bank, National
Association, as a custodian and Xxxxx Fargo Bank, National Association, as
Master Servicer, securities administrator and as a custodian, the Assignor
will transfer the Mortgage Loans to the Assignee, together with the Assignor's
rights under the Sale and Servicing Agreement, to the extent relating to the
Mortgage Loans (other than the rights of the Assignor to indemnification
thereunder).
NOW THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:
1. Assignment and Assumption.
(a) The Assignor hereby assigns to the Assignee, as of the date
hereof, all of its right, title and interest in and to the Mortgage Loans and
the GSMC Assignment Agreement (including without limitation the rights of GSMC
under the Sale and Servicing Agreement, to the extent assigned to the Assignor
under the GSMC Assignment Agreement) from and after the date
hereof, and the Assignee hereby assumes all of the Assignor's obligations
under the Sale and Servicing Agreement, to the extent relating to the Mortgage
Loans from and after September 28, 2006, and the Servicer hereby acknowledges
such assignment and assumption and hereby agrees to the release of the
Assignor from any obligations under the Sale and Servicing Agreement from and
after September 28, 2006, to the extent relating to the Mortgage Loans.
(b) The Assignor represents and warrants to the Assignee that the
Assignor has not taken any action which would serve to impair or encumber the
Assignor's ownership interest in the Mortgage Loans since the date of the Sale
and Servicing Agreement.
(c) The PHH Parties and the Assignor shall have the right to amend,
modify or terminate the Sale and Servicing Agreement without the joinder of
the Assignee with respect to mortgage loans not conveyed to the Assignee
hereunder, provided, however, that such amendment, modification or termination
shall not affect or be binding on the Assignee.
2. Accuracy of Sale and Servicing Agreement. The PHH Parties and the
Assignor represent and warrant to the Assignee that (i) attached hereto as
Exhibit 2 is a true, accurate and complete copy of the Sale and Servicing
Agreement, (ii) the Sale and Servicing Agreement is in full force and effect
as of the date hereof, (iii) except as provided in Section 1 above, the Sale
and Servicing Agreement has not been amended or modified in any respect and
(iv) no notice of termination has been given to the Servicer under the Sale
and Servicing Agreement. The PHH Parties, in their respective capacities as
seller and/or servicer under the Sale and Servicing Agreement, further
represent and warrant that the representations and warranties contained in
Sections 3.01 and 3.02 of the Sale and Servicing Agreement are true and
correct as of the September 28, 2006 and the representations and warranties
regarding the Mortgage Loans contained in Section 3.03 of the Sale and
Servicing Agreement were true and correct as of the Closing Date (as such term
is defined in the Sale and Servicing Agreement).
3. Recognition of Assignee.
(a) From and after the date hereof, the Servicer shall note the
transfer of the Mortgage Loans to the Assignee in its books and records, shall
recognize the Assignee as the owner of the Mortgage Loans and, notwithstanding
anything herein to the contrary, shall service all of the Mortgage Loans for
the benefit of the Assignee pursuant to the Sale and Servicing Agreement the
terms of which are incorporated herein by reference. It is the intention of
the Assignor, the PHH Parties and Assignee that the Sale and Servicing
Agreement shall be binding upon and inure to the benefit of the PHH Parties
and the Assignee and their successors and assigns.
(b) The Servicer further acknowledges that, from and after the date
hereof, it (and any of its successors under the Sale and Servicing Agreement)
will be subject to the supervision of the Master Servicer and that the Master
Servicer, acting on behalf of the Assignee as the owner of the Mortgage Loans,
shall have the same rights as were assigned by GSMC, in its capacity as the
original "Purchaser" under the Sale and Servicing Agreement, to the Assignor
under the GSMC Assignment Agreement, and further assigned hereunder by the
Assignor to the Assignee. Such rights that Master Servicer may enforce on
behalf of the Assignee will include, without limitation, the right to
terminate the Servicer under the Sale and Servicing Agreement
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upon the occurrence of an event of default thereunder, the right to receive
all remittances required to be made by the Servicer under the Sale and
Servicing Agreement, the right to receive all monthly reports and other data
required to be delivered by the Servicer under the Sale and Servicing
Agreement and the right to exercise certain rights of consent and approval
relating to actions taken by the Servicer.
(c) All reports and other data required to be delivered by the
Servicer to the "Purchaser" under the Sale and Servicing Agreement shall be
delivered to the Master Servicer at the address set forth in Section 10
hereof. All remittances required to be made to the Trustee, as the successor
in interest to the Assignor under the Sale and 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 2006-16 Acct # 50949100
(d) 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 3 hereto (or such other format and content mutually agreed-upon
between the Servicer and the Master Servicer), (b) default loan data in the
format set forth in Exhibit 4 hereto (or such other format and content mutually
agreed-upon between the Servicer and the Master Servicer) and (c) information
regarding realized losses and gains in the format set forth in Exhibit 5
hereto (or such other format and content 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
hereby represents and warrants to the Assignor as follows:
(a) Decision to Purchase. The Assignee 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 Assignor or the PHH
Parties other than those contained in the Sale and Servicing Agreement or this
Assignment Agreement.
(b) Authority. The Assignee hereto represents and warrants that it
is duly and legally authorized to enter into this Assignment Agreement and to
perform its obligations hereunder and under the Sale and Servicing Agreement.
(c) Enforceability. The Assignee hereto represents and warrants that
this Assignment Agreement has been duly authorized, executed and delivered by
it and (assuming
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due authorization, execution and delivery thereof by each of the other parties
hereto) constitutes its legal, valid and binding obligation, enforceable in
accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by general equitable principles
(regardless of whether such enforcement is considered in a proceeding in
equity or at law).
5. Representations and Warranties of the Assignor. The Assignor
hereby represents and warrants to the Assignee as follows:
(a) Organization. The Assignor has been duly organized and is
validly existing as a corporation in good standing under the laws of the State
of Delaware with full power and authority (corporate and other) to enter into
and perform its obligations under the Sale and Servicing Agreement and this
Assignment Agreement.
(b) Enforceability. This Assignment Agreement has been duly executed
and delivered by the Assignor, and, assuming due authorization, execution and
delivery by each of the other parties hereto, constitutes a legal, valid, and
binding agreement of the Assignor, enforceable against it in accordance with
its terms, subject to bankruptcy, insolvency, reorganization, moratorium, or
other similar laws affecting creditors' rights generally and to general
principles of equity regardless of whether enforcement is sought in a
proceeding in equity or at law.
(c) No Consent. The execution, delivery and performance by the
Assignor of this Assignment Agreement and the consummation of the transactions
contemplated hereby do not require the consent or approval of, the giving of
notice to, the registration with, or the taking of any other action in respect
of, any state, federal or other governmental authority or agency, except such
as has been obtained, given, effected or taken prior to the date hereof.
(d) Authorization; No Breach. The execution and delivery of this
Assignment Agreement have been duly authorized by all necessary corporate
action on the part of the Assignor; neither the execution and delivery by the
Assignor of this Assignment Agreement, nor the consummation by the Assignor of
the transactions herein contemplated, nor compliance by the Assignor with the
provisions hereof, will conflict with or result in a breach of, or constitute
a default under, any of the provisions of the governing documents of the
Assignor or any law, governmental rule or regulation or any material judgment,
decree or order binding on the Assignor or any of its properties, or any of
the provisions of any material indenture, mortgage, deed of trust, contract or
other instrument to which the Assignor is a party or by which it is bound.
(e) Actions; Proceedings. There are no actions, suits or proceedings
pending or, to the knowledge of the Assignor, threatened, before or by any
court, administrative agency, arbitrator or governmental body (A) with respect
to any of the transactions contemplated by this Assignment Agreement or (B)
with respect to any other matter that in the judgment of the Assignor will be
determined adversely to the Assignor and will, if determined adversely to the
Assignor, materially adversely affect its ability to perform its obligations
under this Assignment Agreement.
5
It is understood and agreed that the representations and warranties
set forth in this Section 5 shall survive delivery of the respective mortgage
loan documents to the Assignee or its designee and shall inure to the benefit
of the Assignee and its assigns notwithstanding any restrictive or qualified
endorsement or assignment. Upon the discovery by the Assignor or the Assignee
and its assigns of a breach of the foregoing representations and warranties,
the party discovering such breach shall give prompt written notice to the
other parties to this Assignment Agreement, and in no event later than two (2)
Business Days from the date of such discovery. It is understood and agreed
that the obligations of the Assignor set forth in Section 6 to repurchase a
Mortgage Loan constitute the sole remedies available to the Assignee and its
assigns on their behalf respecting a breach of the representations and
warranties contained in this Section 5.
It is understood and agreed that the Assignor has made no
representations or warranties to the Assignee other than those contained in
this Section 5, and no other affiliate of the Assignor has made any
representations or warranties of any kind to the Assignee.
Repurchase of Mortgage Loans. (a) To the extent any PHH Party is
required under the Sale and Servicing Agreement or any related agreement to
which such PHH Party and the Assignor are parties to repurchase any Mortgage
Loan on account of an Early Payment Default, the Assignee shall be entitled as
a result of the assignments hereunder to enforce such obligation directly
against such PHH Party as required by and in accordance with the Sale and
Servicing Agreement or such related agreement, as applicable. For purposes of
this Section, "Early Payment Default" shall mean any provision of the Sale and
Servicing Agreement or any related agreement to which any PHH Party and the
Assignor are parties that is designated as an "early payment default"
provision of otherwise provides for the repurchase of any Mortgage Loan in the
event of a default in the first (of such other number as may be specified in
such provision) scheduled payment due under such Mortgage Loan after the
closing or other date specified in such agreement.
(b) Upon discovery or notice of any breach by the Assignor of any
representation, warranty or covenant under this Assignment Agreement that
materially and adversely affects the value of any Mortgage Loan or the
interest of the Assignee therein (it being understood that any such defect or
breach shall be deemed to have materially and adversely affected the value of
the related Mortgage Loan or the interest of the Assignee therein if the
Assignee incurs a loss as a result of such defect or breach), the Assignee
promptly shall request that the Assignor cure such breach and, if the Assignor
does not cure such breach in all material respects within sixty (60) days from
the date on which it is notified of the breach, the Assignee may enforce the
Assignor's obligation hereunder to purchase such Mortgage Loan from the
Assignee at the Repurchase Price as defined in the Sale and Servicing
Agreement. Notwithstanding the foregoing, however, if such breach is a
Qualification Defect as defined in the Sale and Servicing Agreement, such cure
or repurchase must take place within sixty (60) days of discovery of such
Qualification Defect.
In the event a PHH Party has breached a representation or warranty
under the Sale and Servicing Agreement that is substantially identical to, or
covers the same matters as, a representation or warranty breached by the
Assignor hereunder, the Assignee shall first proceed against such PHH Party.
If the PHH Party does not within ninety (90) days after notification of the
breach, take steps to cure such breach (which may include certifying to
progress made and
6
requesting an extension of the time to cure such breach, as permitted under
the Sale and Servicing Agreement) or purchase the Mortgage Loan, the Assignee
shall be entitled to enforce the obligations of the Assignor hereunder to cure
such breach or to purchase the Mortgage Loan from the Trust. In such event,
the Assignor shall succeed to the rights of the Assignee to enforce the
obligations of such PHH Party to cure such breach or repurchase such Mortgage
Loan under the terms of the Sale and Servicing Agreement with respect to such
Mortgage Loan. In the event of a repurchase of any Mortgage Loan by the
Assignor or PHH, the Assignee shall promptly deliver to the Assignor or PHH,
as applicable, or to such party's designee, the related Mortgage File and
shall assign to such party all of the Assignee's rights under the Sale and
Servicing Agreement, but only insofar as the Sale and Servicing Agreement
relates to such Mortgage Loan.
Except as specifically set forth herein, the Assignee shall have no
responsibility to enforce any provision of this Assignment Agreement, to
oversee compliance hereof, or to take notice of any breach or default thereof.
6. 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 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 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.
7. Continuing Effect. Except as contemplated hereby, the Sale and
Servicing Agreement shall remain in full force and effect in accordance with
its terms.
8. Governing Law.
THIS ASSIGNMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS HEREUNDER
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF).
7
EACH PARTY HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS
ASSIGNMENT AGREEMENT, OR ANY OTHER DOCUMENTS AND INSTRUMENTS EXECUTED IN
CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER ORAL OR WRITTEN), OR ACTIONS OF SUCH PARTY. THIS PROVISION IS A
MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS ASSIGNMENT AGREEMENT.
9. Notices. Any notices or other communications permitted or
required hereunder or under the Sale and Servicing Agreement shall be in
writing and shall be deemed conclusively to have been given if personally
delivered at or mailed by registered mail, postage prepaid, and return receipt
requested or transmitted by telex, telegraph or telecopier and confirmed by a
similar mailed writing, to:
(a) in the case of the PHH Parties,
PHH Mortgage Corporation
0000 Xxxxxxxxxx Xxxx,
Xx. Xxxxxx, Xxx Xxxxxx 00000
Attention: Vice President of Servicing
or such address as may hereafter be furnished by the
PHH Parties;
(b) in the case of the Master Servicer,
Xxxxx Fargo Bank, National Association
0 Xxx Xxxx Xxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxxx X. Xxxxxxx
Tel: (000) 000-0000
Fax: (000) 000-0000
or such address as may hereafter be furnished by the
Master Servicer;
(c) in the case of the Trustee or the Assignee,
Deutsche Bank National Trust Company
0000 Xxxx Xx. Xxxxxx Xxxxx
Xxxxx Xxx, Xxxxxxxxxx 00000-0000
Attention: Trust Administration - GS0616
Tel.: (000) 000-0000
or such other address as may hereafter be furnished by the
Trustee or Assignee; and
8
(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 other address as may hereafter be furnished by the
Assignor.
10. Counterparts. This Assignment Agreement may be executed in
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
instrument.
11. Definitions. Any capitalized term used but not defined in this
Assignment Agreement has the meaning assigned thereto in the Sale and
Servicing Agreement.
12. 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.
13. Trustee Capacity. It is expressly understood and agreed by the
parties hereto that (i) this Assignment Agreement is executed and delivered by
Deutsche Bank National Trust Company, not individually or personally but
solely on behalf of GSAA Home Equity Trust 2006-16, 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 National
Trust Company is made and intended for the purpose of binding only the GSAA
Home Equity Trust 2006-16, (iii) nothing herein contained shall be construed
as creating any liability for Deutsche Bank National Trust Company,
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 National Trust Company be personally liable
for the payment of any indebtedness or expenses of the GSAA Home Equity Trust
2006-16, or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the GSAA Home
Equity Trust 2006-16 under this Assignment Agreement, the Trust Agreement or
any related document.
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment
Agreement the day and year 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/ Xxxxxxx Xxxxx
----------------------------
Name: Xxxxxxx Xxxxx
Title: Assistant Vice President
PHH MORTGAGE CORPORATION (formerly known as
CENDANT MORTGAGE CORPORATION)
By: /s/ Crissy Judge
---------------------------
Name: Crissy Judge
Title: Assistant Vice President
XXXXXX'X GATE RESIDENTIAL MORTGAGE TRUST
(formerly known as CENDANT RESIDENTIAL
MORTGAGE TRUST)
By: PHH Mortgage Corporation, as
Administrator
By: /s/ Crissy Judge
--------------------------
Name: Crissy Judge
Title: Assistant Vice President
PHH Step 2 AAR
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL ASSOCIATION
as Master Servicer
By: /s/ Xxxxxxxx X. Xxxxx
----------------------------
Name: Xxxxxxxx X. Xxxxx
Title: Vice President
PHH Step 2 AAR
EXHIBIT 1
Mortgage Loan Schedule
----------------------
[On File with the Securities Administrator as provided by the Depositor]
1-1
EXHIBIT 2
Sale and Servicing Agreement
----------------------------
[On File with the Depositor]
2-1
EXHIBIT 3
Standard File Layout - Master Servicing
------------------------------------------------------------------------- --------- ------------------------------------ ---------
Column Name Description Decimal Format Comment Max Size
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SER_INVESTOR_NBR A value assigned by the Servicer to define a Text up to 10 digits 20
group of loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
LOAN_NBR A unique identifier assigned to each loan by Text up to 10 digits 10
the investor.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the
LOAN_NBR.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
BORROWER_NAME The borrower name as received in the file. Maximum length of 30 (Last, First) 30
It is not separated by first and last name.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs ($) 11
interest payment that a borrower is expected
to pay, P&I constant.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NEW_PAY_AMT The new loan payment amount as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ARM_INDEX_RATE The index the Servicer is using to calculate 4 Max length of 6 6
a forecasted rate.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the beginning of the processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_END_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the end of the processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that MM/DD/YYYY 10
the borrower's next payment is due to the
Servicer, as reported by Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PIF_AMT The loan "paid in full" amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2
indicate the default/delinquent status of a 30=Foreclosure, , 60=PIF,
particular loan. 63=Substitution,
65=Repurchase,70=REO
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs ($) 11
loss, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount 2 No commas(,) or dollar signs ($) 11
due at the beginning of the cycle date to be
passed through to investors.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs ($) 11
investors at the end of a processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_PRIN_AMT The scheduled principal amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer for the current cycle --
only applicable for Scheduled/Scheduled
Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 11
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 collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle -- only
applicable for Actual/Actual Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs ($) 11
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 borrower 2 No commas(,) or dollar signs ($) 11
prepays on his loan as reported by the
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or dollar signs ($) 11
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 and 2 No commas(,) or dollar signs ($) 11
interest advances made by Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
EXHIBIT 4
Standard File Layout - Delinquency Reporting
------------------------------------- -------------------------------------------------------------- ------------- ----------------
Column/Header Name Description Decimal Format Comment
------------------------------------- -------------------------------------------------------------- ------------- ----------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This
may be different than the LOAN_NBR
------------------------------------- -------------------------------------------------------------- ------------- ----------------
LOAN_NBR A unique identifier assigned to each loan by the originator.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
CLIENT_NBR Servicer Client Number
------------------------------------- -------------------------------------------------------------- ------------- ----------------
SERV_INVESTOR_NBR Contains a unique number as assigned by an external servicer
to identify a group of loans in their system.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
BORROWER_FIRST_NAME First Name of the Borrower.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
BORROWER_LAST_NAME Last name of the borrower.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
XXXX_XXXXXXX Xxxxxx Name and Number of Property
------------------------------------- -------------------------------------------------------------- ------------- ----------------
PROP_STATE The state where the property located.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
PROP_ZIP Zip code where the property is located.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment is due to 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 by MM/DD/YYYY
Dismissal, Discharged and/or a Motion For Relief Was
Granted.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
------------------------------------- -------------------------------------------------------------- ------------- ----------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the servicer with MM/DD/YYYY
instructions to begin foreclosure proceedings.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY
Action
------------------------------------- -------------------------------------------------------------- ------------- ----------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,)
or dollar
signs ($)
------------------------------------- -------------------------------------------------------------- ------------- ----------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
------------------------------------- -------------------------------------------------------------- ------------- ----------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the 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
------------------------------------- -------------------------------------------------------------- ------------- ----------------
Page 1 of 25
Please be advised that failure to comply with ANY or all of the guidelines entailed herein may result in
issuance of late reporting fees.
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: XXXXxxxxxxXXX@XxxxxXxxxx.xxx
------------------------------------- -------------------------------------------------------------- ------------- ----------------
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 MM/DD/YYYY
Insurance Company.
------------------------------------- -------------------------------------------------------------- ------------- ----------------
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 ($)
------------------------------------- -------------------------------------------------------------- ------------- ----------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY
Insurer
------------------------------------- -------------------------------------------------------------- ------------- ----------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
------------------------------------- -------------------------------------------------------------- ------------- ----------------
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 ($)
------------------------------------- -------------------------------------------------------------- ------------- ----------------
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
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
------------------------ ----------------------------------------------
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 5
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 Servicing Officer certification
* Unusual or extraordinary items may require further documentation.
13. The total of lines 1 through 12.
Credits:
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale, bid
instructions and Escrow Agent / Attorney
Letter of Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined on the 332 form
22. The total of lines 14 through 21.
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 ( ).
--------------------------------------------------------------------------------
Page 2 of 25
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: XXXXxxxxxxXXX@XxxxxXxxxx.xxx
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)
------------------------------------------------------------------------------
Page 3 of 25
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: XXXXxxxxxxXXX@XxxxxXxxxx.xxx
(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)
------------------------------------------------------------------------------
Page 4 of 25
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: XXXXxxxxxxXXX@XxxxxXxxxx.xxx
Escrow Disbursement Detail
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------------------------------------------------------------------
Page 5 of 25
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright Xxxxx Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: XXXXxxxxxxXXX@XxxxxXxxxx.xxx
