Exhibit 10.2(D)
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[ EXECUTION COPY ]
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
November 29, 2006, is among Bank of America, National Association, a national
banking association ("Assignor"), Banc of America Funding Corporation, a
Delaware corporation ("BAFC"), U.S. Bank National Association, a national
banking association, as trustee of the Banc of America Funding 2006-8T2 Trust
("Assignee"), Xxxxx Fargo Bank, N.A., a national banking association ("Xxxxx
Fargo Bank"), as master servicer of the Banc of America Funding 2006-8T2 Trust
and PHH Mortgage Corporation (the "Seller").
WHEREAS, pursuant to (i) that certain Mortgage Loan Flow Purchase, Sale and
Servicing Agreement, dated as of August 1, 2005, by and among the Assignor, as
purchaser, PHH Mortgage, as a seller and servicer, and Xxxxxx'x Gate Residential
Mortgage Trust ("Xxxxxx'x Gate"), as a seller (as amended by (A) that certain
Amendment No. 1, dated as of January 30, 2006, by and among the Assignor, the
Seller and Xxxxxx'x Gate and (B) that certain Regulation AB Compliance Addendum,
dated as of January 1, 2006, by and among the Assignor, the Seller and Xxxxxx'x
Gate, the "Purchase and Servicing Agreement") and (ii) the related Warranty Xxxx
of Sale, dated September 28, 2006, between the Assignor and the Seller, each of
which is attached in Appendix I hereto, the Assignor purchased the Mortgage
Loans (as defined herein) from the Seller and PHH Mortgage currently services
the Mortgage Loans;
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee; and
WHEREAS, on the date hereof, Xxxxx Fargo Bank, as master servicer (in such
capacity, the "Master Servicer"), is entering into a Pooling and Servicing
Agreement, dated the date hereof (the "Pooling Agreement"), among BAFC, the
Master Servicer, Xxxxx Fargo Bank, as securities administrator (the "Securities
Administrator"), and the Assignee, pursuant to which the Master Servicer will
supervise, monitor and oversee the servicing of the Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to Assignee, all of the right, title and
interest of the Assignor in, to and under the Purchase and Servicing Agreement,
and the mortgage loans delivered under such agreement by the Seller to the
Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans").
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the Purchase and Servicing Agreement other than the Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC and
the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the full
right to transfer the Mortgage Loans free from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of, any
offsets, counterclaims or other defenses available to the Seller with
respect to the Purchase and Servicing Agreement or the Mortgage Loans;
c. The Assignor has not waived or agreed to any waiver under, or agreed
to any amendment or other modification of, the Purchase and Servicing
Agreement or the Mortgage Loans, including without limitation the
transfer of the servicing obligations under the Purchase and Servicing
Agreement. The Assignor has no knowledge of, and has not received
notice of, any waivers under or amendments or other modifications of,
or assignments of rights or obligations under, the Purchase and
Servicing Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage
Loans, any interest in the Mortgage Loans or any other similar
security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Mortgage Loans, any interest in the
Mortgage Loans or any other similar security from, or otherwise
approached or negotiated with respect to the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security with, any
person in any manner, or made any general solicitation by means of
general advertising or in any other manner, or taken any other action
which would constitute a distribution of the Mortgage Loans under the
Securities Act of 1933, as amended (the "Securities Act"), or which
would render the disposition of the Mortgage Loans a violation of
Section 5 of the Securities Act or require registration pursuant
thereto.
3. From and after the date hereof, (A) the Seller shall (i) note the
transfer of the Mortgage Loans to the Assignee in their respective books and
records, (ii) recognize the Assignee as the owner of the Mortgage Loans and (B)
notwithstanding anything to the contrary contained in Sections 2.05 and 3.05 of
the Purchase and Servicing Agreement, PHH Mortgage shall continue to service the
Mortgage Loans pursuant to the Purchase and Servicing Agreement, as modified by
Section 9 hereof, for the benefit of the Assignee.
2
4. The Seller acknowledges that the Master Servicer, pursuant to the
Pooling Agreement, will administer on behalf of the Assignee the terms and
conditions of the Purchase and Servicing Agreement. The Master Servicer shall be
authorized to enforce directly against the Seller any of the obligations of the
Seller to the Assignor or its assignees provided for in the Purchase and
Servicing Agreement, including, without limitation, the right to exercise any
and all rights of the Assignor (but not the obligations) under the Purchase and
Servicing Agreement to monitor and enforce the obligations of the Seller
thereunder, the right to terminate the Seller under the Purchase and Servicing
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by the Seller under the Purchase and
Servicing Agreement, the right to receive all monthly reports and other data
required to be delivered by the Seller under the Purchase and Servicing
Agreement, the right to examine the books and records of the Seller,
indemnification rights, and the right to exercise certain rights of consent and
approval relating to actions taken by the Seller. All remittances by the Seller
shall be made to the account or accounts designated by the Master Servicer to
the Seller in writing from time to time. Wire remittances shall be sent to:
XXXXX FARGO BANK, N.A., ABA# 000000000, FOR CREDIT TO: SAS CLEARING, ACCT:
0000000000, FFC TO: BAFC 2006-8T2 # 50964300.
5. The Seller hereby represents and warrants to each of the other parties
hereto (i) that the representations and warranties of the Seller in Sections
3.01 of the Purchase and Servicing Agreement are true and correct in all
material respects as of the date hereof with the same force and effect as though
expressly made at and/or as of the date hereof, (ii) that it has taken no action
nor omitted to take any required action the omission of which would have the
effect of impairing any mortgage insurance or guarantee on the Mortgage Loans
and (iii) that any information provided by it on or before the date hereof to
any of the parties hereto is true and correct. PHH Mortgage hereby represents
and warrants to each of the other parties hereto (i) that its representations
and warranties in Section 3.02 of the Purchase and Servicing Agreement are true
and correct in all material respects as of the date hereof with the same force
and effect as though expressly made at and/or as of the date hereof and (ii)
that it has serviced the Mortgage Loans in accordance with the terms of the
Purchase and Servicing Agreement.
6. The Seller hereby agree to cooperate with BAFC, the Master Servicer
and the Assignee to enable BAFC, the Master Servicer and the Securities
Administrator to fully comply with all Securities and Exchange Commission
("SEC") disclosure and reporting requirements in effect from time to time with
respect to the trust created by the Pooling Agreement (which shall be named
"Banc of America Funding 2006-8T2 Trust") (the "Trust") and any securities
representing ownership interests in or backed by assets of the Trust, including
without limitation, the SEC's published rules regarding asset-backed securities
(Release Nos. 33-8518; 34-50905; File No. S7-21-0433-8419).
7. PHH Mortgage hereby agrees that, in connection with each Mortgage Loan
of which the related Mortgage has been recorded in the name of MERS or its
designee, it shall take all actions as are necessary to cause the Assignee, as
trustee of the Trust pursuant to the Pooling Agreement, to be shown as the owner
3
of such Mortgage Loan on the records of MERS for purposes of the system of
recording transfers of beneficial ownership of mortgages maintained by MERS.
8. The Seller hereby agrees that it shall not substitute a Qualified
Substitute Mortgage Loan for a Deleted Mortgage Loan.
9. The Seller hereby agrees to the following modifications to the
Purchase and Servicing Agreement solely with respect to the Mortgage Loans:
a. Section 6.02. The third paragraph of Section 6.02 is hereby modified
to read as follows: Not later than the fifth (5th) Business Day of
each month, the Servicer shall furnish to the Purchaser a delinquency
report, a monthly remittance advice and a realized loss report,
including the information set forth in Exhibit 6.02, in a form
mutually agreeable in both physical form and content (including via
website) and an electronic format mutually agreeable in both form and
content as to the remittance on such Remittance Date and as to the
period ending on the last day of the month preceding such Remittance
Date.
b. Exhibit 6.02. Exhibit 6.02 is hereby amended by inserting the
provisions attached to this Agreement as Exhibit B at the end
thereof.
c. Section 7.07. Section 7.07 is hereby modified by replacing subsection
(ii) with the following:
"result in the imposition of a tax upon the REMIC (including but not
limited to the tax on "prohibited transactions" as defined in Section
860F(a)(2) of the Code and the tax on "contributions" to a REMIC set
forth in Section 860G(d) of the Code) unless the Company has received
an Opinion of Counsel (at the expense of the party seeking to take
such action) to the effect that the contemplated action will not
endanger such REMIC status or result in the imposition of any such
tax."
10. Notwithstanding any provision in this Agreement to the contrary, it is
understood that the Seller is not released from liability to the Assignor for
any breaches of any representations, warranties or covenants made by the Seller
in the Purchase and Servicing Agreement prior to the date hereof regardless of
when such breaches are discovered or made known.
11. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance Trust Services, BAFC 2006-8T2
4
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
Bank of America, National Association
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
[Signatures Follow]
5
IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and
Recognition Agreement to be executed by their duly authorized officers as of the
date first above written.
Bank of America, National Association,
Assignor
By: /s/ Xxxxx X. Good
----------------------------------------
Name: Xxxxx X. Good
Title: Prinipal
U.S. Bank National Association,
Assignee
By: /s/ Xxxxxxx X. Xxxxx
----------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
----------------------------------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
PHH Mortgage Corporation
By: /s/ Crissy Judge
----------------------------------------
Name: Crissy Judge
Title: Assistant Vice President
Acknowledged and Agreed
as of the date first above written:
Xxxxx Fargo Bank, N.A., as Master Servicer
By: /s/ Xxxxxx X. Xxxxxx
----------------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Assistant Vice President
EXHIBIT A
Schedule of Mortgage Loans
(See the Free Writing Prospectus filed and accepted by the Securities and
Exchange Commission on November 29, 2006, with a filing date of
November 29, 2006, and accession number 0001379434-06-000010)
Exhibit A
EXHIBIT B
Standard File Layout - Scheduled/Scheduled
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Column Name Description Decimal Format Comment Max
Size
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SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
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LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10
by the investor.
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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.
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BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, 30
file. It is not separated by first and First)
last name.
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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.
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NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
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NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the
Servicer.
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SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
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SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
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NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs 11
by the Servicer. ($)
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NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
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ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6
calculate a forecasted rate.
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ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the beginning of the processing cycle. ($)
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ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the end of the processing cycle. ($)
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BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10
that the borrower's next payment is due
to the Servicer, as reported by Servicer.
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SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
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SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
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CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
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SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
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SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
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CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
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SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
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SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
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Exhibit B-1
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CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
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PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
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PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
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Action Code Key: 2
15=Bankruptcy, 30=Foreclosure,
, 60=PIF, 63=Substitution,
65=Repurchase,70=REO
----------------------------------------------
ACTION_CODE The standard FNMA numeric code used to indicate the
default/delinquent status of a particular loan.
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INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
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SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs 11
if applicable. ($)
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NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs 11
applicable. ($)
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LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs 11
loss, if applicable. ($)
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SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs 11
amount due at the beginning of the cycle ($)
date to be passed through to investors.
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SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs 11
investors at the end of a processing ($)
cycle.
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SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11
reported by the Servicer for the current ($)
cycle -- only applicable for
Scheduled/Scheduled Loans.
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SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs 11
the service fee amount for the current ($)
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
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ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs 11
the Servicer for the current reporting ($)
cycle -- only applicable for
Actual/Actual Loans.
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ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs 11
service fee amount for the current ($)
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
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PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11
borrower prepays on his loan as reported ($)
by the Servicer.
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PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs 11
loan waived by the servicer. ($)
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MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
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MOD_TYPE The Modification Type. Varchar - value can be alpha 30
or numeric
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DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs 11
interest advances made by Servicer. ($)
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Exhibit B-2
Calculation of Realized Loss/Gain Form 332- Instruction Sheet
The numbers on the 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. All line entries must be supported
by copies of appropriate statements, vouchers, receipts,
bills, canceled checks, etc., to document the expense.
Entries not properly documented will not be reimbursed to
the Servicer.
13. The total of lines 1 through 12.
Credits:
-------
14-21. Complete as applicable. All line entries must be supported
by copies of the appropriate claims forms, EOBs, HUD-1
and/or other proceeds verification, statements, payment
checks, etc. to document the credit. If the Mortgage Loan is
subject to a Bankruptcy Deficiency, the difference between
the Unpaid Principal Balance of the Note prior to the
Bankruptcy Deficiency and the Unpaid Principal Balance as
reduced by the Bankruptcy Deficiency should be input on line
20.
22. The total of lines 14 through 21.
Please note: For HUD/VA loans, use line (15) for Part A/Initial
proceeds and line (16) 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 B-3
Calculation of Realized Loss/Gain Form 332
XXXXX FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS/GAIN
Prepared by: ------------------- Date: -------------------
Phone: ------------------------- Email Address: ----------------------
--------------------- ------------------ ------------------
[ Servicer Loan No. ] [ Servicer Name ] [ Servicer Address ]
[ ] [ ] [ ]
[ ] [ ] [ ]
--------------------- ------------------ -----------------
XXXXX FARGO BANK, N.A. Loan No.----------------------------------
Borrower's Name:-------------------------------------------------
Property Address:------------------------------------------------
Liquidation 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 --------------(5)
(6) Property Maintenance --------------(6)
(7) MI/Hazard Insurance Premiums --------------(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-------------------------- -------------
HOA/Condo Fees------------------------- -------------
--------------------------------------- -------------
--------------------------------------- -------------
Total Expenses $------------(13)
Credits:
(14) Escrow Balance $------------(14)
(15) HIP Refund -------------(15)
(16) Rental Receipts -------------(16)
(17) Hazard Loss Proceeds -------------(17)
Exhibit B-4
(18) Primary Mortgage Insurance Proceeds -------------(18)
(19) Pool Insurance Proceeds -------------(19)
(20) Proceeds from Sale of Acquired Property -------------(20)
(21) Other (itemize) -------------(21)
--------------------------------------------- -------------
--------------------------------------------- -------------
Total Credits $------------(22)
Total Realized Loss (or Amount of Gain) $------------(23)
Exhibit B-5
Exhibit : 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
--------------------------------------------- -------------------------------------------------------------- -------- --------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- -------- --------------
OCCUPANT_CODE Classification of how the property is occupied.
--------------------------------------------- -------------------------------------------------------------- -------- --------------
Exhibit B-6
--------------------------------------------- -------------------------------------------------------------- -------- --------------
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 ($)
--------------------------------------------- -------------------------------------------------------------- -------- --------------
Exhibit B-7
Exhibit 2: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply Xxxxx
Fargo Bank with a description of each of the Loss Mitigation Types prior to
sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
Exhibit B-8
Exhibit 2: Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Reason Code field should show the Reason for Delinquency as
follows:
------------------------ ---------------------------------------------------
Delinquency
Code Delinquency Description
------------------------ ---------------------------------------------------
001 FNMA-Death of principal mortgagor
------------------------ ---------------------------------------------------
002 FNMA-Illness of principal mortgagor
------------------------ ---------------------------------------------------
003 FNMA-Illness of mortgagor's family member
------------------------ ---------------------------------------------------
004 FNMA-Death of mortgagor's family member
------------------------ ---------------------------------------------------
005 FNMA-Marital difficulties
------------------------ ---------------------------------------------------
006 FNMA-Curtailment of income
------------------------ ---------------------------------------------------
007 FNMA-Excessive Obligation
------------------------ ---------------------------------------------------
008 FNMA-Abandonment of property
------------------------ ---------------------------------------------------
009 FNMA-Distant employee transfer
------------------------ ---------------------------------------------------
011 FNMA-Property problem
------------------------ ---------------------------------------------------
012 FNMA-Inability to sell property
------------------------ ---------------------------------------------------
013 FNMA-Inability to rent property
------------------------ ---------------------------------------------------
014 FNMA-Military Service
------------------------ ---------------------------------------------------
015 FNMA-Other
------------------------ ---------------------------------------------------
016 FNMA-Unemployment
------------------------ ---------------------------------------------------
017 FNMA-Business failure
------------------------ ---------------------------------------------------
019 FNMA-Casualty loss
------------------------ ---------------------------------------------------
022 FNMA-Energy environment costs
------------------------ ---------------------------------------------------
023 FNMA-Servicing problems
------------------------ ---------------------------------------------------
026 FNMA-Payment adjustment
------------------------ ---------------------------------------------------
027 FNMA-Payment dispute
------------------------ ---------------------------------------------------
029 FNMA-Transfer of ownership pending
------------------------ ---------------------------------------------------
030 FNMA-Fraud
------------------------ ---------------------------------------------------
031 FNMA-Unable to contact borrower
------------------------ ---------------------------------------------------
INC FNMA-Incarceration
------------------------ ---------------------------------------------------
Exhibit B-9
Exhibit 2: Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
------------------------ ---------------------------------------------------
Status Code Status Description
------------------------ ---------------------------------------------------
09 Forbearance
------------------------ ---------------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------------ ---------------------------------------------------
24 Government Seizure
------------------------ ---------------------------------------------------
26 Refinance
------------------------ ---------------------------------------------------
27 Assumption
------------------------ ---------------------------------------------------
28 Modification
------------------------ ---------------------------------------------------
29 Charge-Off
------------------------ ---------------------------------------------------
30 Third Party Sale
------------------------ ---------------------------------------------------
31 Probate
------------------------ ---------------------------------------------------
32 Military Indulgence
------------------------ ---------------------------------------------------
43 Foreclosure Started
------------------------ ---------------------------------------------------
44 Deed-in-Lieu Started
------------------------ ---------------------------------------------------
49 Assignment Completed
------------------------ ---------------------------------------------------
61 Second Lien Considerations
------------------------ ---------------------------------------------------
62 Veteran's Affairs-No Bid
------------------------ ---------------------------------------------------
63 Veteran's Affairs-Refund
------------------------ ---------------------------------------------------
64 Veteran's Affairs-Buydown
------------------------ ---------------------------------------------------
65 Chapter 7 Bankruptcy
------------------------ ---------------------------------------------------
66 Chapter 11 Bankruptcy
------------------------ ---------------------------------------------------
67 Chapter 13 Bankruptcy
------------------------ ---------------------------------------------------
Exhibit B-10
APPENDIX I
----------
Underlying Agreements
---------------------
[Included as Exhibits 10.2(A) to 10.2(C) to the Current Report
on Form 8-K pursuant to which this Assignment, Assumption and
Recognition Agreement is filed]
