Exhibit 99.9a
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this
"Assignment"), dated as of May 1, 2006, is entered into among Xxxxxx Xxxxxxx
Capital I Inc., a Delaware corporation (the "Depositor"), Xxxxxx Xxxxxxx
Mortgage Capital Inc. ("MSMCI"), GreenPoint Mortgage Funding, Inc. as seller
(in such capacity, the "Seller") and servicer (in such capacity, the
"Servicer"), and acknowledged by LaSalle Bank National Association, as trustee
(the "Trustee") of Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-7 (the "Trust"),
and Xxxxx Fargo Bank, National Association, as master servicer (or any
successor master servicer, the "Master Servicer").
RECITALS
WHEREAS MSMCI, the Seller and the Servicer have entered into a
certain First Amended and Restated Mortgage Loan Sale And Servicing Agreement,
dated as of March 15, 2005 (the "March Purchase Agreement), and a certain
Fourth Amended and Restated Mortgage Loan Sale And Servicing Agreement, dated
as of December 1, 2005, (the "Agreement," and together with the March
Agreement and as further amended or modified to the date hereof, the
"Agreements"), pursuant to which MSMCI has acquired certain Mortgage Loans
pursuant to the terms of the Agreements and the Servicer has agreed to service
such Mortgage Loans; and, in connection with the transfer of the Mortgage
Loans hereunder, the Seller and Servicer agree that, from and after the date
hereof, each Mortgage Loan transferred hereunder will be subject to, and
serviced under, the Agreement;
WHEREAS the Depositor has agreed, on the terms and conditions
contained herein, to purchase from MSMCI certain of the Mortgage Loans (the
"Specified Mortgage Loans") which are subject to the provisions of the
Agreement and are listed on the mortgage loan schedule attached as Exhibit I
hereto (the "Specified Mortgage Loan Schedule"); and
WHEREAS the Trustee, on behalf of the Trust, has agreed, on the terms
and conditions contained herein, to purchase from the Depositor the Specified
Mortgage Loans;
NOW, THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration (the receipt and sufficiency
of which are hereby acknowledged), the parties agree as follows:
1. Assignment and Assumption
(a) On and of the date hereof, MSMCI hereby sells, assigns and
transfers to the Depositor all of its right, title and interest in the
Specified Mortgage Loans and all rights and obligations related thereto as
provided under the Agreement to the extent relating to the Specified Mortgage
Loans, the Depositor hereby accepts such assignment from MSMCI (the "First
Assignment and Assumption"), and the Seller hereby acknowledges the First
Assignment and Assumption.
MSMCI specifically reserves and does not assign to the Depositor
hereunder any and all right, title and interest in, to and under and all
obligations of MSMCI with respect to any Mortgage Loans subject to the
Agreement which are not the Specified Mortgage Loans.
(b) On and of the date hereof, immediately after giving effect to the
First Assignment and Assumption, the Depositor hereby sells, assigns and
transfers to the Trustee, on behalf of the Trust, all of its right, title and
interest in the Specified Mortgage Loans and all rights and obligations
related thereto as provided under the Agreement to the extent relating to the
Specified Mortgage Loans, and the Trustee, on
behalf of the Trust, hereby accepts such assignment from the Depositor (the
"Second Assignment and Assumption"), and the Seller hereby acknowledges the
Second Assignment and Assumption.
(c) On and as of the date hereof, MSMCI represents and warrants to
the Depositor and the Trustee that MSMCI has not taken any action that would
serve to impair or encumber the respective ownership interests of the
Depositor and the Trustee in the Specified Mortgage Loans since the date of
MSMCI's acquisition of the Specified Mortgage Loans.
2. Recognition of Trustee
(a) From and after the date hereof, both MSMCI and the Seller shall
note the transfer of the Specified Mortgage Loans to the Trustee, in their
respective books and records and shall recognize the Trustee, on behalf of the
Trust, as of the date hereof, as the owner of the Specified Mortgage Loans,
and Servicer shall service the Specified Mortgage Loans for the benefit of the
Trust pursuant to the Agreement, the terms of which are incorporated herein by
reference. It is the intention of the Seller, the Servicer, the Depositor, the
Trustee and MSMCI that this Assignment shall be binding upon and inure to the
benefit of the Depositor, the Trustee and MSMCI and their respective
successors and assigns.
(b) Without in any way limiting the foregoing, the parties confirm
that this Assignment includes the rights relating to amendments or waivers
under the Agreement. Accordingly, the right of MSMCI to consent to any
amendment of the Agreement and its rights concerning waivers as set forth in
Section 28 of the Agreement shall be exercisable, to the extent any such
amendment or waiver affects the Specified Mortgage Loans or any of the rights
under the Agreement with respect thereto (other than the servicing of the
Specified Mortgage Loans, which shall be enforced by the Master Servicer) by
the Trustee as assignee of MSMCI.
(c) It is expressly understood and agreed by the parties hereto that
(i) this Assignment is executed and delivered by LaSalle Bank National
Association, not individually or personally but solely on behalf of the Trust,
as the assignee, in the exercise of the powers and authority conferred and
vested in it, as Trustee, pursuant to the Pooling and Servicing Agreement
dated as of the date hereof among the Depositor, the Master Servicer, Xxxxx
Fargo Bank, National Association, as securities administrator, and the Trustee
(the "Pooling and Servicing Agreement") for the Xxxxxx Xxxxxxx Mortgage Loan
Trust 2006-7, Mortgage Pass-Through Certificates, Series 2006-7, (ii) each of
the representations, undertakings and agreements herein made on the part of
assignee is made and intended not as personal representations, undertakings
and agreements by LaSalle Bank National Association but is made and intended
for the purpose of binding only the Trust, (iii) nothing herein contained
shall be construed as creating any liability for LaSalle Bank National
Association, individually or personally, to perform any covenant (either
express or implied) contained herein, (iv) under no circumstances shall
LaSalle Bank National Association be personally liable for the payment of any
indebtedness or expenses of the Trust, or be liable for the breach or failure
of any obligation, representation, warranty or covenant made or undertaken by
the Trust under this Assignment and (v) all recourse for any payment liability
or other obligation of the assignee shall be had solely to the assets of the
Trust.
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3. Representations and Warranties
(a) The Depositor represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith upon
any statements or representations of the Seller or MSMCI other than those
contained in the Agreement or this Assignment.
(b) Each of the parties hereto represents and warrants that it is
duly and legally authorized to enter into this Assignment.
(c) Each of the Depositor, MSMCI, Seller and Servicer represents and
warrants that this Assignment has been duly authorized, executed and delivered
by it and (assuming due authorization, execution and delivery thereof by each
of the other parties hereto) constitutes its legal, valid and binding
obligation, enforceable against it in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency, reorganization or
other similar laws affecting the enforcement of creditors' rights generally
and by general equitable principles (regardless of whether such enforcement is
considered in a proceeding in equity or at law).
(d) The Seller hereby restates, as of the Closing Date (as defined in
the Pooling and Servicing Agreement), the representations and warranties set
forth in Sections 7.01 and 7.02 of the Agreement, with respect to each of the
Specified Mortgage Loans that were sold by it under the Agreement, to and for
the benefit of the Depositor, the Trustee and the Trust, and by this reference
incorporates such representations and warranties herein, as of such Closing
Date.
4. The Servicer hereby acknowledges that Xxxxx Fargo Bank, National
Association has been appointed as the Master Servicer of the Specified
Mortgage Loans pursuant to the Pooling and Servicing Agreement and, therefore,
has the right to enforce all obligations of the Servicer under the Agreement.
Such rights will include, without limitation, the right to terminate the
Servicer under the Agreement upon the occurrence of an event of default
thereunder, the right to receive all remittances required to be made by the
Servicer under the Agreement, the right to receive all monthly reports and
other data required to be delivered by the Servicer under the Agreement, the
right to examine the books and records of the Servicer, indemnification rights
and the right to exercise certain rights of consent and approval relating to
actions taken by MSMCI. The Servicer shall make all distributions under the
Agreement to the Master Servicer by wire transfer of immediately available
funds to:
Xxxxx Fargo Bank, National Association
ABA Number: 000-000-000
Account Name: Corporate Trust Clearing
Account number: 0000000000
For further credit to: 50922400, MSM 2006-7
The Servicer shall deliver all reports required to be delivered to
the Purchaser under the Agreement to the Master Servicer at the following
address:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager, MSM 2006-7
Office Number: (000) 000-0000
Telecopier: (000) 000-0000
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5. Amendments to the Agreement
The parties to this Assignment hereby agree to amend the Agreement as
follows:
(a) With respect to the Specified Mortgage Loans, "Permitted
Investments" shall have the meaning of such term as defined in
the Pooling and Servicing Agreement.
(b) Subsection 11.19(d) of the Agreement is hereby amended and
restated in its entirety as follows:
"For the purpose of satisfying the reporting
obligation under the Exchange Act with respect to
any class of asset-backed securities, the Servicer
shall (or shall cause each Subservicer and
Third-Party Originator to) (i) promptly notify the
Purchaser in writing of (A) any material litigation
or governmental proceedings pending against the
Servicer, any Subservicer or any Third-Party
Originator that would be material to a security
holder, (B) any affiliations or relationships that
develop following the closing date of a
Securitization Transaction between the Servicer,
any Subservicer or any Third-Party Originator and
any of the parties specified in clause (D) of
paragraph (a) of this Section (and any other
parties identified in writing by the requesting
party) with respect to such Securitization
Transaction, (C) any Event of Default under the
terms of this Agreement or any applicable
Reconstitution Agreement related thereto, (D) any
merger, consolidation or sale of substantially all
of the assets of the Servicer, and (E) the
Servicer's entry into an agreement with a
Subservicer to perform or assist in the performance
of any of the Servicer's obligations under this
Agreement or any applicable Reconstitution
Agreement related thereto and (ii) provide to the
Purchaser a description of such proceedings,
affiliations or relationships."
(c) Subsection 11.19(f) of the Agreement is hereby deleted in
its entirety.
(d) The following paragraphs are hereby incorporated into the
Agreement as new Subsections 11.19(f) and (g):
"(g) In addition to such information as the
Servicer, as servicer, is obligated to provide
pursuant to other provisions of this Agreement, not
later than ten days prior to the deadline for the
filing of any distribution report on Form 10-D in
respect of any Securitization Transaction that
includes any of the Mortgage Loans serviced by the
Servicer or any Subservicer, the Servicer or such
Subservicer, as applicable, shall, to the extent
the Servicer or such Subservicer has knowledge,
provide to the party responsible for filing such
report (including, if applicable, the Master
Servicer) notice of the occurrence of any of the
following events along with all information, data,
and materials related thereto as may be required to
be included in the related distribution report on
Form 10-D (as specified in the provisions of
Regulation AB referenced below):
(i) any material modifications, extensions
or waivers of pool asset terms, fees,
penalties or payments during the
distribution period or that have
cumulatively become material over time
(Item 1121(a)(11) of Regulation AB);
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(ii) material breaches of pool asset
representations or warranties or
transaction covenants (Item 1121(a)(12) of
Regulation AB); and
(iii)information regarding new
asset-backed securities issuances backed
by the same pool assets, any pool asset
changes (such as, additions, substitutions
or repurchases), and any material changes
in origination, underwriting or other
criteria for acquisition or selection of
pool assets (Item 1121(a)(14) of
Regulation AB).
(h) The Servicer shall provide to the Purchaser,
any Master Servicer and any Depositor, evidence of
the authorization of the person signing any
certification or statement, copies or other
evidence of Fidelity Bond Insurance and Errors and
Omission Insurance policy, financial information
and reports, and such other information related to
the Servicer or any Subservicer or the Servicer or
such Subservicer's performance hereunder."
(e) Subsections 11.19(g) and 11.19(h) of the Agreement is
hereby renumbered as Subsections 11.19(h) and 11.19(i),
respectively.
(f) Subsection 11.19(i) is hereby amended to delete the
cross-reference "paragraph (g)" and replace with the
cross-reference paragraph (h).
(g) Subsections 11.20(a)(iv) and 11.20(a)(v) are hereby
replaced in their entirety with the following:
"(iv) cause each Subservicer, and each
Subcontractor determined by the Servicer pursuant
to Subsection 11.24(b) to be "participating in the
servicing function" within the meaning of Item 1122
of Regulation AB, to deliver to the Purchaser an
assessment of compliance and accountants'
attestation as and when provided in paragraphs (ii)
and (iii) of this Section; and
(v) deliver, and cause each Subservicer and
Subcontractor described in clause (iv) above, to
the Purchaser and any other Person that will be
responsible for signing the certification (a
"Sarbanes Certification") required by Rules
13a-14(d) and 15d-14(d) under the Exchange Act
(pursuant to Section 302 of the Xxxxxxxx-Xxxxx Act
of 2002) on behalf of an asset-backed issuer with
respect to a Securitization Transaction a
certification, signed by an appropriate officer of
the company, in the form attached hereto as Exhibit
16."
(h) Subsection 11.21 of the Agreement is hereby amended and
restated in its entirety as follows:
"Annual Independent Public Accountants' Servicing
Report or Attestation. On or before March 1, 2007,
the Servicer at its expense shall cause a firm of
independent public accountants which is a member of
the American Institute of Certified Public
Accountants to furnish a statement to the Purchaser
and the Master Servicer to the effect that such
firm has, with respect to the Servicer's overall
servicing operations, examined such operations in
accordance with the requirements of the Uniform
Single Attestation Program for Mortgage Bankers,
stating such firm's conclusions relating thereto.
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Notwithstanding the foregoing, the Servicer's
obligation to deliver a report under this
Subsection as to any calendar year, beginning with
the report required in March 2007, shall be
satisfied if an accountant attestation report is
delivered in compliance with Subsection
11.20(a)(iii) for such calendar year."
(i) The first series of cross-references in Subsection 11.24(a)
of the Agreement is hereby amended to include 11.19(f).
(j) The last paragraph of Subsection 11.24 of the Agreement is
hereby deleted in its entirety and replaced with the following:
"As a condition to the utilization of any
Subcontractor determined to be "participating in
the servicing function" within the meaning of Item
1122 of Regulation AB, the Seller shall cause any
such Subcontractor used by the Servicer (or by any
Subservicer) for the benefit of the Purchaser to
comply with the provisions of Subsections 11.20 and
12.01 of this Agreement to the same extent as if
such Subcontractor were the Servicer. The Servicer
shall be responsible for obtaining from each
Subcontractor and delivering to the Purchaser any
assessment of compliance and attestation and the
other certifications required to be delivered by
such Subcontractor under Subsection 11.20, in each
case as and when required to be delivered."
(k) Subsection 12.01(b) of the Agreement is hereby amended and
restated in its entirety as follows:
"(b) The Servicer shall indemnify the Purchaser,
each affiliate of the Purchaser, each sponsor and
issuing entity; each Person responsible for the
preparation, execution or filing of any report
required to be filed with the Commission with
respect to such Securitization Transaction, or for
execution of a certification pursuant to Rule
13a-14(d) or Rule 15d-14(d) under the Exchange Act
with respect to such Securitization Transaction;
each broker dealer acting as underwriter, placement
agent or initial purchaser, each Person who
controls any of such parties (within the meaning of
Section 15 of the Securities Act and Section 20 of
the Exchange Act); and the respective present and
former directors, officers, employees and agents of
each of the foregoing (each, an "Indemnified
Party"), and shall hold each of them harmless from
and against any losses, damages, penalties, fines,
forfeitures, legal fees and expenses and related
costs, judgments, and any other costs, fees and
expenses that any of them may sustain arising out
of or based upon:
(i)(A) any untrue statement of a material
fact contained or alleged to be contained
in any written information, written
report, certification, accountants' letter
or other material provided under Section
11 by or on behalf of the Servicer, or
provided under Section 11 by or on behalf
of any Subservicer, Subcontractor or
Third-Party Originator (collectively, the
"Servicer Information"), or (B) the
omission or alleged omission to state in
the Servicer Information a material fact
required to be stated in the Servicer
Information or necessary in order to make
the statements therein, in the light of
the circumstances under which they were
made, not misleading; provided, by way of
clarification, that clause (B) of this
paragraph shall be construed solely by
reference to the Servicer
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Information and not to any other
information communicated in connection
with a sale or purchase of securities,
without regard to whether the Servicer
Information or any portion thereof is
presented together with or separately
from such other information;
(ii) any breach of the Servicer's
obligations under, or any failure by the
Servicer, any Subservicer, any
Subcontractor or any Third-Party
Originator to deliver any information,
report, certification, accountants' letter
or other material when and as required,
under Sections 11.19, 11.20 and 11.21,
including any failure by the Servicer to
identify pursuant to Subsection 11.24(b)
any Subcontractor "participating in the
servicing function" within the meaning of
Item 1122 of Regulation AB;
(iii) any breach by the Servicer of a
representation or warranty set forth in
Subsection 11.19(g) or in a writing
furnished pursuant to Subsection 11.19(h)
and made as of a date prior to the closing
date of the related Securitization
Transaction, to the extent that such
breach is not cured by such closing date,
or any breach by the Servicer of a
representation or warranty in a writing
furnished pursuant to Subsection 11.19(h)
to the extent made as of a date subsequent
to such closing date; or
(iii) any breach by the Servicer of a
representation or warranty set forth in
Subsection 11.19(g) or in a writing
furnished pursuant to Subsection 11.19(h)
and made as of a date prior to the closing
date of the related Securitization
Transaction, to the extent that such
breach is not cured by such closing date,
or any breach by the Servicer of a
representation or warranty in a writing
furnished pursuant to Subsection 11.19(h)
to the extent made as of a date subsequent
to such closing date; or
(iv) the negligence, bad faith or willful
misconduct of the Servicer in connection
with its performance under this Sections
11.19, 11.20, 11.21 or 12.01.
If the indemnification provided for herein is
unavailable or insufficient to hold harmless an
Indemnified Party, then the Seller agrees that it
shall contribute to the amount paid or payable by
such Indemnified Party as a result of any claims,
losses, damages or liabilities incurred by such
Indemnified Party in such proportion as is
appropriate to reflect the relative fault of such
Indemnified Party on the one hand and the Seller on
the other.
In the case of any failure of performance described
in clause (b)(ii) of this Section, the Servicer
shall promptly reimburse the Purchaser, and each
Person responsible for the preparation, execution
or filing of any report required to be filed with
the Commission with respect to such Securitization
Transaction, or for execution of a certification
pursuant to Rule 13a-14(d) or Rule 15d-14(d) under
the Exchange Act with respect to such
Securitization Transaction, for all costs
reasonably incurred by each such party in order to
obtain the information, report, certification,
accountants' letter or other material not delivered
as required by the Servicer, any Subservicer, any
Subcontractor or any Third-Party Originator.
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This indemnification shall survive the termination
of this Agreement or the termination of any party
to this Agreement."
(l) The following parenthetical is inserted directly before the
proviso in the last sentence of the first paragraph of Section
12.01(c)(i) of the Agreement:
"(and if the Servicer is servicing any of the
Mortgage Loans in a Securitization Transaction,
appoint a successor servicer reasonably acceptable
to the Master Servicer for such Securitization
Transaction)"
(m) Subsection 13.01(b) of the Agreement is hereby amended and
restated in its entirety as follows:
"(b) failure by the Servicer to duly observe or
perform, in any material respect, any other
covenants, obligations or agreements of the
Servicer as set forth in this Agreement which
failure continues unremedied for a period of sixty
(60) days (or, in the case of the officer's
certificate or the annual assessment of servicing
compliance or the annual independent public
accountants' servicing report required under
Subsection 11.20, or the certification required
under clause (v) of Subsection 11.20, ten (10)
days) after the date on which written notice of
such failure, requiring the same to be remedied,
shall have been given to the Servicer by the
Purchaser;
(n) The word "or" is deleted from the end of Subsection
13.01(d), the word "or" is added at the end of Subsection
13.01(e) and the following paragraph is hereby incorporated
into the Agreement as new Subsection 13.01(f):
"(f) failure by the Servicer to duly perform,
within the required time period, its obligations
under Subsections 11.20 or 11.21 which failure
continues unremedied for a period of five (5) days
after the date on which written notice of such
failure, requiring the same to be remedied, shall
have been given to the Servicer by any party to
this Agreement or by any master servicer
responsible for master servicing the Mortgage Loans
pursuant to a securitization of such Mortgage
Loans;"
(o) Subsection 14.02(b) of the Agreement is hereby deleted in
its entirety.
(p) The following paragraph is hereby incorporated into the
Agreement as new Section 34:
"Third Party Beneficiary. For purposes of this Agreement, including
but not limited to Subsection 11.21, any Master Servicer shall be considered a
third party beneficiary to this Agreement entitled to all the rights and
benefits accruing to any Master Servicer herein as if it were a direct party
to this Agreement."
(q) Exhibit 9 to the Agreement is hereby replaced in its
entirety with the Amended and Restated Exhibit 9 attached to
this Assignment as Exhibit II.
(r) Exhibit 16 to the Agreement is hereby replaced in its
entirety with Exhibit A-1 attached to this Assignment.
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(s) Exhibit 17 to the Agreement is hereby replaced in its
entirety with Exhibit B-1 attached to this Assignment.
(t) Written notice provided in compliance with Sections
11.19(d), (e) or (f) of the Agreement shall be substantially in
the form of Exhibit C-1 to this Assignment.
6. Indemnification
The Master Servicer shall indemnify and hold harmless the Servicer
and its affiliates, and in each case, its officers, directors and agents from
and against any losses, damages, penalties, fines, forfeitures, reasonable
legal fees and related costs, judgments and other costs and expenses arising
out of or based upon a breach by the Master Servicer or any of its officers,
directors, agents or affiliates of its obligations in connection with the
preparation, filing and certification of any Form 10-K pursuant to the Pooling
and Servicing Agreement or the negligence, bad faith or willful misconduct of
the Master Servicer in connection therewith. In addition, the Master Servicer
shall indemnify and hold harmless the Servicer and its affiliates, and in each
case, its officers, directors and agents from and against any losses, damages,
penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments and other costs and expenses arising out of or based upon a breach
by any Servicer (as defined in the Pooling and Servicing Agreement), other
than the Servicer (as defined herein), of its obligations in connection with
any back-up certification (or any other back-up documents) to any
certification of any Form 10-K required to be provided by the Master Servicer,
but solely to the extent the Master Servicer receives amounts from such
Servicer in connection with any indemnification provided by such Servicer (in
each case as defined in the Pooling and Servicing Agreement) to the Master
Servicer.
7. Continuing Effect
Except as contemplated hereby, the Agreement shall remain in full
force and effect in accordance with its terms.
8. Governing Law
This Assignment and the rights and obligations hereunder shall be
governed by and construed in accordance with the internal laws of the State of
New York.
9. Notices
Any notices or other communications permitted or required under the
Agreement to be made to the Depositor, MSMCI, the Master Servicer, the Seller,
the Servicer and the Trustee shall be made in accordance with the terms of the
Agreement and shall be sent to the Depositor and Trustee as follows:
In the case of MSMCI:
Xxxxxx Xxxxxxx Mortgage Capital Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-7
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With a copy to:
Xxxxxx Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: General Counsel's Office
In the case of the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-7
In the case of the Trustee:
LaSalle Bank National Association,
as Trustee for the Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-7
000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attention: Trust Administration- MSM 2006-7
In the case of the Seller and the Servicer:
GreenPoint Mortgage Funding, Inc.,
000 Xxxx Xxxxxx Xxxxx
Xxxxxx, XX 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-7
or to such other address as may hereafter be furnished by the Depositor and
the Trustee to the parties in accordance with the provisions of the Agreement.
10. Ratification
Except as modified and expressly amended by this Assignment, the
Agreement is in all respects ratified and confirmed, and all terms, provisions
and conditions thereof shall be and remain in full force and effect.
11. Counterparts
This Assignment may be executed in counterparts, each of which when
so executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same instrument.
12. Definitions
Any capitalized term used but not defined in this Assignment has the
same meaning as in the Agreement.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment
the day and year first above written.
XXXXXX XXXXXXX MORTGAGE CAPITAL INC.
By: /s/ Xxxxxxx Xxx
---------------------------------------
Name: Xxxxxxx Xxx
Title: XX
XXXXXX XXXXXXX CAPITAL I INC.
By: /s/ Xxxxxxx Xxx
---------------------------------------
Name: Xxxxxxx Xxx
Title: VP
GREENPOINT MORTGAGE FUNDING, INC.
By: /s/ Xxxxx Xxxxx
---------------------------------------
Name: Xxxxx Daria
Title: V.P.
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Xxxxxxxx Xxxxx
--------------------------------
Name: Xxxxxxxx Xxxxx
Title: Vice President
LASALLE BANK NATIONAL ASSOCIATION,
as Trustee of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2006-7
By: /s/ Xxxxxxxxxxx Xxxxx
--------------------------------
Name: Xxxxxxxxxxx Xxxxx
Title: Asst. V.P.
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EXHIBIT I
Mortgage Loan Schedule
[see Schedule A to Pooling and Servicing Agreement]
Exhibit IIA: Standard File Layout - Delinquency Reporting
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Column/Header Name Description Decimal Format Comment
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SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer.
This may be different than the LOAN_NBR
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LOAN_NBR A unique identifier assigned to each loan by the
originator.
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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.
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BORROWER_FIRST_NAME First Name of the Borrower.
----------------------------------------------------------------------------------------------------------------------------------
BORROWER_LAST_NAME Last name of the borrower.
----------------------------------------------------------------------------------------------------------------------------------
PROP_ADDRESS Street Name and Number of Property
----------------------------------------------------------------------------------------------------------------------------------
PROP_STATE The state where the property located.
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PROP_ZIP Zip code where the property is located.
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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.
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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 MM/DD/YYYY
been approved 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 to begin foreclosure proceedings. MM/DD/YYYY
----------------------------------------------------------------------------------------------------------------------------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
----------------------------------------------------------------------------------------------------------------------------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure 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 ($)
----------------------------------------------------------------------------------------------------------------------------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
----------------------------------------------------------------------------------------------------------------------------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the MM/DD/YYYY
property from the borrower.
----------------------------------------------------------------------------------------------------------------------------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or
dollar signs ($)
----------------------------------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Servicer.
----------------------------------------------------------------------------------------------------------------------------------
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 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 MM/DD/YYYY
The Pool 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 ($)
----------------------------------------------------------------------------------------------------------------------------------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY
----------------------------------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY
----------------------------------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or
dollar signs ($)
----------------------------------------------------------------------------------------------------------------------------------
Exhibit IIB: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
Xxxxx Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
The FNMA Delinquent Reason Code field should show the Reason for Delinquency
as follows:
--------------------------------------------------------------------
Delinquency Code Delinquency Description
--------------------------------------------------------------------
001 FNMA-Death of principal mortgagor
--------------------------------------------------------------------
002 FNMA-Illness of principal mortgagor
--------------------------------------------------------------------
003 FNMA-Illness of mortgagor's family member
--------------------------------------------------------------------
004 FNMA-Death of mortgagor's family member
--------------------------------------------------------------------
005 FNMA-Marital difficulties
--------------------------------------------------------------------
006 FNMA-Curtailment of income
--------------------------------------------------------------------
007 FNMA-Excessive Obligation
--------------------------------------------------------------------
008 FNMA-Abandonment of property
--------------------------------------------------------------------
009 FNMA-Distant employee transfer
--------------------------------------------------------------------
--------------------------------------------------------------------
011 FNMA-Property problem
--------------------------------------------------------------------
012 FNMA-Inability to sell property
--------------------------------------------------------------------
013 FNMA-Inability to rent property
--------------------------------------------------------------------
014 FNMA-Military Service
--------------------------------------------------------------------
015 FNMA-Other
--------------------------------------------------------------------
016 FNMA-Unemployment
--------------------------------------------------------------------
017 FNMA-Business failure
--------------------------------------------------------------------
019 FNMA-Casualty loss
--------------------------------------------------------------------
022 FNMA-Energy environment costs
--------------------------------------------------------------------
023 FNMA-Servicing problems
--------------------------------------------------------------------
026 FNMA-Payment adjustment
--------------------------------------------------------------------
027 FNMA-Payment dispute
--------------------------------------------------------------------
029 FNMA-Transfer of ownership pending
--------------------------------------------------------------------
030 FNMA-Fraud
--------------------------------------------------------------------
031 FNMA-Unable to contact borrower
--------------------------------------------------------------------
INC FNMA-Incarceration
--------------------------------------------------------------------
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
--------------------------------------------------------------------
Status Code Status Description
--------------------------------------------------------------------
09 Forbearance
--------------------------------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
--------------------------------------------------------------------
24 Government Seizure
--------------------------------------------------------------------
26 Refinance
--------------------------------------------------------------------
27 Assumption
--------------------------------------------------------------------
28 Modification
--------------------------------------------------------------------
29 Charge-Off
--------------------------------------------------------------------
30 Third Party Sale
--------------------------------------------------------------------
31 Probate
--------------------------------------------------------------------
32 Military Indulgence
--------------------------------------------------------------------
43 Foreclosure Started
--------------------------------------------------------------------
44 Deed-in-Lieu Started
--------------------------------------------------------------------
49 Assignment Completed
--------------------------------------------------------------------
61 Second Lien Considerations
--------------------------------------------------------------------
62 Veteran's Affairs-No Bid
--------------------------------------------------------------------
63 Veteran's Affairs-Refund
--------------------------------------------------------------------
64 Veteran's Affairs-Buydown
--------------------------------------------------------------------
65 Chapter 7 Bankruptcy
--------------------------------------------------------------------
66 Chapter 11 Bankruptcy
--------------------------------------------------------------------
67 Chapter 13 Bankruptcy
--------------------------------------------------------------------
Exhibit IIC: Standard File Layout - Master Servicing
---------------------------------------------------------------------------------------------------------------------------------
Column Name Description Decimal Format Comment Max
Size
---------------------------------------------------------------------------------------------------------------------------------
SER_INVESTOR_NBR A value assigned by the Servicer to 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 ($) 11
interest payment that a borrower is expected
to pay, P&I constant.
---------------------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
---------------------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross interest rate less the service 4 Max length of 6 6
fee rate as reported by the Servicer.
---------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
---------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs ($) 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 ($) 11
curtailment amount, if applicable.
---------------------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
---------------------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
---------------------------------------------------------------------------------------------------------------------------------
Action Code Key: 15=Bankruptcy, 2
00xXxxxxxxxxxx, , 00xXXX,
63=Substitution, 65=Repurchase,70=REO
---------------------------------------------------------
ACTION_CODE The standard FNMA numeric code
used to indicate the
default/delinquent status of a
particular loan.
---------------------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
---------------------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment 2 No commas(,) or dollar signs ($) 11
---------------------------------------------------------------------------------------------------------------------------------
amount, if applicable.
---------------------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
---------------------------------------------------------------------------------------------------------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, 2 No commas(,) or dollar signs ($) 11
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 by 2 No commas(,) or dollar signs ($) 11
the Servicer for the current cycle -- only
applicable for Scheduled/Scheduled Loans.
---------------------------------------------------------------------------------------------------------------------------------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 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 30
---------------------------------------------------------------------------------------------------------------------------------
or numeric
---------------------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11
interest advances made by Servicer.
---------------------------------------------------------------------------------------------------------------------------------
Exhibit IID : Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and
all credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not
being passed until the following month. The Servicer is responsible
to remit all funds pending loss approval and /or resolution of any
disputed items.
(u)
(v) 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.
(w) Credits:
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale,
bid instructions and Escrow Agent / Attorney Letter of
Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined on the 332
form
22. The total of lines 14 through 21.
Please Note: For HUD/VA loans, use line (18a) for Part A/Initial
proceeds and line (18b) for Part B/Supplemental
proceeds.
Total Realized Loss (or Amount of Any Gain)
23. The total derived from subtracting line 22 from 13. If the
amount represents a realized gain, show the amount in
parenthesis ( ).
--------------------------------------------------------------------------------
Exhibit IIE: Calculation of Realized Loss/Gain Form 332
--------------------------------------------------------------------------------
Prepared by: __________________ Date: _______________
Phone: ________________________ Email Address:_____________________
--------------------- ------------------------- -----------------------
| Servicer Loan No. | | Servicer Name | | Servicer Address |
| | | | | |
| | | | | |
--------------------- ------------------------- -----------------------
XXXXX FARGO BANK, N.A. Loan No._____________________________
Borrower's Name: _____________________________________________________
Property Address: ____________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount ______________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $ ___________ (1)
(2) Interest accrued at Net Rate ___________ (2)
(3) Accrued Servicing Fees ___________ (3)
(4) Attorney's Fees ___________ (4)
(5) Taxes (see page 2) ___________ (5)
(6) Property Maintenance ___________ (6)
(7) MI/Hazard Insurance Premiums (see page 2) ___________ (7)
(8) Utility Expenses ___________ (8)
(9) Appraisal/BPO ___________ (9)
(10) Property Inspections ___________ (10)
(11) FC Costs/Other Legal Expenses ___________ (11)
(12) Other (itemize) ___________ (12)
Cash for Keys__________________________ ___________ (12)
HOA/Condo Fees_______________________ ___________ (12)
______________________________________ ___________ (12)
Total Expenses $ ___________ (13)
Credits:
(14) Escrow Balance $ ___________ (14)
(15) HIP Refund ___________ (15)
(16) Rental Receipts ___________ (16)
(17) Hazard Loss Proceeds ___________ (17)
(18) Primary Mortgage Insurance / Gov't Insurance ___________ (18a)
HUD Part A ___________ (18b)
HUD Part B
(19) Pool Insurance Proceeds ___________ (19)
(20) Proceeds from Sale of Acquired Property ___________ (20)
(21) Other (itemize) ___________ (21)
_________________________________________ ___________ (21)
Total Credits $ ___________ (22)
Total Realized Loss (or Amount of Gain) $ ___________ (23)
Escrow Disbursement Detail
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
------------------- ----------------- ----------------- ---------------- ----------------- ----------------- ----------------
EXHIBIT A-1
FORM OF ANNUAL CERTIFICATION
Re: The [ ] agreement dated as of [ ], 200[ ]
(the "Agreement"), among [IDENTIFY PARTIES]
I, ________________________________, the _____________________ of GreenPoint
Mortgage Funding, certify to [the Purchaser], [the Depositor], and the [Master
Servicer] [Securities Administrator] [Trustee], and their officers, with the
knowledge and intent that they will rely upon this certification, that:
(1) I have reviewed the servicer compliance statement of the Company
provided in accordance with Item 1123 of Regulation AB (the "Compliance
Statement"), the report on assessment of the Company's compliance with the
servicing criteria set forth in Item 1122(d) of Regulation AB and identified
as the responsibility of the Company on Exhibit 17 to the Fourth Amended and
Restated Mortgage Loan Sale And Servicing Agreement, dated as of December 1,
2005 (the "Servicing Criteria"), provided in accordance with Rules 13a-18 and
15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange Act")
and Item 1122 of Regulation AB (the "Servicing Assessment"), the registered
public accounting firm's attestation report provided in accordance with Rules
13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB
(the "Attestation Report"), and all servicing reports, officer's certificates
and other information relating to the servicing of the Mortgage Loans by the
Company during 200[ ] that were delivered by the Company to the [Depositor]
[Master Servicer] [Securities Administrator] [Trustee] pursuant to the
Agreement (collectively, the "Company Servicing Information");
(2) Based on my knowledge, the Company Servicing Information, taken as a
whole, does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in the light of
the circumstances under which such statements were made, not misleading with
respect to the period of time covered by the Company Servicing Information;
(3) Based on my knowledge, all of the Company Servicing Information
required to be provided by the Company under the Agreement has been provided
to the [Depositor] [Master Servicer] [Securities Administrator] [Trustee];
(4) I am responsible for reviewing the activities performed by the Company
as servicer under the Agreement, and based on my knowledge and the compliance
review conducted in preparing the Compliance Statement and except as disclosed
in the Compliance Statement, the Servicing Assessment or the Attestation
Report, the Company has fulfilled its obligations under the Agreement in all
material respects; and
(5) The Compliance Statement required to be delivered by the Company
pursuant to the Agreement, and the Servicing Assessment and Attestation Report
required to be provided by the Company and by any Subservicer and
Subcontractor pursuant to the Agreement, have been provided to the [Depositor]
[Master Servicer]. Any material instances of noncompliance described in such
reports have been disclosed to the [Depositor] [Master Servicer]. Any material
instance of noncompliance with the Servicing Criteria has been disclosed in
such reports.
Date: _________________________________
By: _________________________________
Name:
Title:
EXHIBIT B-1
SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The assessment of compliance to be delivered by [the Company] [Name of
Subservicer] shall address, at a minimum, the criteria identified as below as
"Applicable Servicing Criteria";
--------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
--------------------------------------------------------------------------------
Reference Criteria
--------------------------------------------------------------------------------
General Servicing Considerations
--------------------------------------------------------------------------------
Policies and procedures are instituted to
monitor any performance or other triggers X
and events of default in accordance with the
1122(d)(1)(i) transaction agreements.
--------------------------------------------------------------------------------
If any material servicing activities are
outsourced to third parties, policies and
procedures are instituted to monitor the X
third party's performance and compliance
1122(d)(1)(ii) with such servicing activities.
--------------------------------------------------------------------------------
Any requirements in the transaction
agreements to maintain a back-up servicer
1122(d)(1)(iii) for the mortgage loans are maintained.
--------------------------------------------------------------------------------
A fidelity bond and errors and omissions
policy is in effect on the party
participating in the servicing function
throughout the reporting period in the X
amount of coverage required by and otherwise
in accordance with the terms of the
1122(d)(1)(iv) transaction agreements.
--------------------------------------------------------------------------------
Cash Collection and Administration
--------------------------------------------------------------------------------
Payments on mortgage loans are deposited
into the appropriate custodial bank accounts
and related bank clearing accounts no more X
than two business days following receipt, or
such other number of days specified in the
1122(d)(2)(i) transaction agreements.
--------------------------------------------------------------------------------
Disbursements made via wire transfer on
behalf of an obligor or to an investor are X
1122(d)(2)(ii) made only by authorized personnel.
--------------------------------------------------------------------------------
Advances of funds or guarantees regarding
collections, cash flows or distributions,
and any interest or other fees charged for X
such advances, are made, reviewed and
approved as specified in the transaction
1122(d)(2)(iii) agreements.
--------------------------------------------------------------------------------
The related accounts for the transaction,
such as cash reserve accounts or accounts
established as a form of
overcollateralization, are separately X
maintained (e.g., with respect to
commingling of cash) as set forth in the
1122(d)(2)(iv) transaction agreements.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
--------------------------------------------------------------------------------
Reference Criteria
--------------------------------------------------------------------------------
Each custodial account is maintained at a
federally insured depository institution as
set forth in the transaction agreements. For
purposes of this criterion, "federally
insured depository institution" with respect X
to a foreign financial institution means a
foreign financial institution that meets the
requirements of Rule 13k-1 (b)(1) of the
1122(d)(2)(v) Securities Exchange Act.
--------------------------------------------------------------------------------
Unissued checks are safeguarded so as to
1122(d)(2)(vi) prevent unauthorized access. X
--------------------------------------------------------------------------------
Reconciliations are prepared on a monthly
basis for all asset-backed securities
related bank accounts, including custodial
accounts and related bank clearing accounts.
These reconciliations are (A) mathematically
accurate; (B) prepared within 30 calendar
days after the bank statement cutoff date,
or such other number of days specified in X
the transaction agreements; (C) reviewed and
approved by someone other than the person
who prepared the reconciliation; and (D)
contain explanations for reconciling items.
These reconciling items are resolved within
90 calendar days of their original
identification, or such other number of days
1122(d)(2)(vii) specified in the transaction agreements.
--------------------------------------------------------------------------------
Investor Remittances and Reporting
--------------------------------------------------------------------------------
Reports to investors, including those to be
filed with the Commission, are maintained in
accordance with the transaction agreements
and applicable Commission requirements.
Specifically, such reports (A) are prepared
in accordance with timeframes and other
terms set forth in the transaction X
agreements; (B) provide information
calculated in accordance with the terms
specified in the transaction agreements; (C)
are filed with the Commission as required by
its rules and regulations; and (D) agree
with investors' or the trustee's records as
to the total unpaid principal balance and
number of mortgage loans serviced by the
1122(d)(3)(i) Servicer.
--------------------------------------------------------------------------------
Amounts due to investors are allocated and
remitted in accordance with timeframes, X
distribution priority and other terms set
1122(d)(3)(ii) forth in the transaction agreements.
--------------------------------------------------------------------------------
Disbursements made to an investor are posted
within two business days to the Servicer's
investor records, or such other number of X
days specified in the transaction
1122(d)(3)(iii) agreements.
--------------------------------------------------------------------------------
Amounts remitted to investors per the
investor reports agree with cancelled X
checks, or other form of payment, or
1122(d)(3)(iv) custodial bank statements.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
--------------------------------------------------------------------------------
Reference Criteria
--------------------------------------------------------------------------------
Pool Asset Administration
--------------------------------------------------------------------------------
Collateral or security on mortgage loans is
maintained as required by X the transaction X
agreements or related mortgage loan
1122(d)(4)(i) documents.
--------------------------------------------------------------------------------
Mortgage loan and related documents are
safeguarded as required by the transaction X
1122(d)(4)(ii) agreements
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Any additions, removals or substitutions to
the asset pool are made, reviewed and
approved in accordance with any conditions X
or requirements in the transaction
1122(d)(4)(iii) agreements.
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Payments on mortgage loans, including any
payoffs, made in accordance with the related
mortgage loan documents are posted to the
Servicer's obligor records maintained no
more than two business days after receipt, X
or such other number of days specified in
the transaction agreements, and allocated to
principal, interest or other items (e.g.,
escrow) in accordance with the related
1122(d)(4)(iv) mortgage loan documents.
--------------------------------------------------------------------------------
The Servicer's records regarding the
mortgage loans agree with the Servicer's X
records with respect to an obligor's unpaid
1122(d)(4)(v) principal balance.
--------------------------------------------------------------------------------
Changes with respect to the terms or status
of an obligor's mortgage loans (e.g., loan
modifications or re-agings) are made, X
reviewed and approved by authorized
personnel in accordance with the transaction
1122(d)(4)(vi) agreements and related pool asset documents.
--------------------------------------------------------------------------------
Loss mitigation or recovery actions (e.g.,
forbearance plans, modifications and deeds
in lieu of foreclosure, foreclosures and
repossessions, as applicable) are initiated, X
conducted and concluded in accordance with
the timeframes or other requirements
1122(d)(4)(vii) established by the transaction agreements.
--------------------------------------------------------------------------------
Records documenting collection efforts are
maintained during the period a mortgage loan
is delinquent in accordance with the
transaction agreements. Such records are
maintained on at least a monthly basis, or
such other period specified in the X
transaction agreements, and describe the
entity's activities in monitoring delinquent
mortgage loans including, for example, phone
calls, letters and payment rescheduling
plans in cases where delinquency is deemed
1122(d)(4)(viii) temporary (e.g., illness or unemployment).
--------------------------------------------------------------------------------
Adjustments to interest rates or rates of
return for mortgage loans with variable X
rates are computed based on the related
1122( d)( 4 )(ix) mortgage loan documents.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
--------------------------------------------------------------------------------
Reference Criteria
--------------------------------------------------------------------------------
Regarding any funds held in trust for an
obligor (such as escrow accounts): (A) such
funds are analyzed, in accordance with the
obligor's mortgage loan documents, on at
least an annual basis, or such other period
specified in the transaction agreements; (B)
interest on such funds is paid, or credited, X
to obligors in accordance with applicable
mortgage loan documents and state laws; and
(C) such funds are returned to the obligor
within 30 calendar days of full repayment of
the related mortgage loans, or such other
number of days specified in the transaction
1122( d)( 4 )(x) agreements.
--------------------------------------------------------------------------------
Payments made on behalf of an obligor (such
as tax or insurance payments) are made on or
before the related penalty or expiration
dates, as indicated on the appropriate bills
or notices for such payments, provided that X
such support has been received by the
servicer at least 30 calendar days prior to
these dates, or such other number of days
1122( d)( 4 )(xi) specified in the transaction agreements.
--------------------------------------------------------------------------------
Any late payment penalties in connection
with any payment to be made on behalf of an
obligor are paid from the servicer's funds X
and not charged to the obligor, unless the
late payment was due to the obligor's error
1122(d)(4)(xii) or omission.
--------------------------------------------------------------------------------
Disbursements made on behalf of an obligor
are posted within two business days to the
obligor's records maintained by the X
servicer, or such other number of days
1122(d)(4)(xiii) specified in the transaction agreements.
--------------------------------------------------------------------------------
Delinquencies, charge-offs and uncollectible
accounts are recognized and X recorded in X
1122(d)(4)(xiv) accordance with the transaction agreements.
--------------------------------------------------------------------------------
Any external enhancement or other support,
identified in Item 1114(a)(1) through (3) or
Item 1115 of Regulation AB, is maintained as
1122(d)(4)(xv) set forth in the transaction agreements.
--------------------------------------------------------------------------------
[GREENPOINT MORTGAGE FUNDING, INC.]
[NAME OF SUBSERVICER]
Date: _________________________________
By: _________________________________
Name:
Title:
EXHIBIT C-1
Additional Disclosure Notification
Xxxxx Fargo Bank, N.A. as [Securities Administrator and Master Servicer]
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Fax: (000) 000-0000
E-mail: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
Attn: Corporate Trust Services - MSM 2006-7 - SEC REPORT PROCESSING
RE: **Additional Form [ ] Disclosure**Required
Ladies and Gentlemen:
In accordance with Section [11.19(d)][11.19(e)][11.19(f)] of the
Fourth Amended and Restated Mortgage Loan Sale and Servicing Agreement, dated
as of December 1, 2005, as amended by the Assignment, Assumption and
Recognition Agreement dated as of May 1, 2006 among Xxxxxx Xxxxxxx Capital I
Inc., as Depositor, GreenPoint Mortgage Funding, Inc., Xxxxx Fargo Bank,
National Association, as Master Servicer, and LaSalle Bank National
Association as Trustee. The Undersigned hereby notifies you that certain
events have come to our attention that [will][may] need to be disclosed on
Form [ ].
Description of Additional Form [ ] Disclosure:
List of Any Attachments hereto to be included in the Additional Form
[ ] Disclosure:
Any inquiries related to this notification should be directed to [ ],
phone number: [ ]; email address: [ ].
[NAME OF PARTY]
as [role]
By: __________________________________
Name:
Title:
