Exhibit 99.15a
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated March 1,
2007, ("Agreement") among Xxxxxx Xxxxxxx Mortgage Capital Inc. ("Assignor"),
Xxxxxx Xxxxxxx Capital I Inc. ("Assignee") and Xxxxx Fargo Bank, National
Association (in such capacity, the "Company") and acknowledged by LaSalle Bank
National Association ("LaSalle"), as trustee ("Trustee") of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2007-6XS (the "Trust"), and Xxxxx Fargo Bank, National
Association, as master servicer (or any successor master servicer, the "Master
Servicer"):
For and in consideration of the sum of TEN DOLLARS ($10.00) and other
valuable consideration the receipt and sufficiency of which hereby are
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. Assignment and Conveyance
The Assignor hereby conveys, sells, grants, transfers and assigns to the
Assignee all of the right, title and interest of the Assignor, as purchaser,
in, to and under (a) those certain mortgage loans listed on the schedule (the
"Mortgage Loan Schedule") attached hereto as Schedule I (the "Mortgage Loans")
and (b) except as described below, that certain Master Seller's Warranties and
Servicing Agreement dated as of April 1, 2006 (the "SWSA"), between the
Assignor, as purchaser (the "Purchaser"), and the Company, as servicer, solely
insofar as the SWSA relates to the Mortgage Loans. In connection with the
transfer of the Mortgage Loans hereunder, the Company agrees that, from and
after the date hereof, each Mortgage Loan transferred hereunder will be
subject to, and serviced under, the SWSA.
The Assignor specifically reserves and does not assign to the Assignee
hereunder any and all right, title and interest in, to and under and any
obligations of the Assignor with respect to any mortgage loans subject to the
SWSA which are not the Mortgage Loans set forth on the Mortgage Loan Schedule
and are not the subject of this Agreement.
2. Recognition of the Company
From and after the date hereof (the "Closing Date"), the Company shall
and does hereby recognize that the Assignor will transfer the Mortgage Loans
and assign its rights under the SWSA to the Assignee and that the Assignee
will thereafter transfer the Mortgage Loans and assign its rights under the
SWSA and this Agreement to the Trust created pursuant to a pooling and
servicing agreement, dated as of March 1, 2007 (the "Pooling Agreement"),
among the Assignee, Xxxxx Fargo Bank, National Association, as securities
administrator, the Master Servicer and the Trustee. The Company hereby
acknowledges and agrees that from and after the date hereof (i) the Trust will
be the owner of the Mortgage Loans, (ii) the Company shall look solely to the
Trust for performance of any obligations of the Assignor insofar as they
relate to the enforcement of the representations, warranties and covenants
with respect to the Mortgage Loans, (iii) the Trust (including the Trustee
and, with respect to the servicing of the Mortgage Loans, the Master Servicer
acting on the Trust's behalf) shall have all the rights and remedies available
to the Assignor, insofar as they relate to the Mortgage Loans, under the SWSA,
including, without limitation, the enforcement of the document delivery
requirements set forth in Section 2.01 of the SWSA, and shall be entitled to
enforce all of the obligations of the Company thereunder insofar as they
relate to the Mortgage Loans, and (iv) all references to the Owner (insofar as
they relate to the rights, title and interest and, with respect to obligations
of the Owner, only insofar as they relate to the enforcement of the
representations, warranties and covenants of the Company) under the SWSA
insofar as they relate to the Mortgage Loans, shall be deemed to refer to the
Trust. Neither the Company nor the Assignor shall amend or agree to amend,
modify, waive, or otherwise alter any of the terms or provisions of the SWSA
which amendment, modification, waiver or other alteration would in any way
affect the Mortgage Loans
or the Company's performance under the SWSA with respect to the Mortgage Loans
without the prior written consent of the Trustee and the Master Servicer.
3. Notwithstanding any statement to the contrary in Section 2 above, the
Company shall and does hereby acknowledge that the indemnification provisions
set forth in Section 3.03, Section 8.01 and the first instance of Section
9.01(f) of the SWSA shall be available to and for the benefit of the Assignor,
the Assignee and the Trust (including the Trustee and the Master Servicer
acting on the Trust's behalf), as provided in the SWSA.
4. Representations and Warranties
a. The Assignee represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith
upon any statements or representations of the Assignor or the Company
other than those contained in the SWSA or this Agreement.
b. Each of the parties hereto represents and warrants that it is
duly and legally authorized to enter into this Agreement.
c. Each of the Assignor, Assignee and Company hereto represents and
warrants that this Agreement has been duly authorized, executed and
delivered by it and (assuming due authorization, execution and delivery
thereof by each of the other parties hereto) constitutes its legal, valid
and binding obligation, enforceable 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 with respect to the
Company, similar laws administered by the FDIC affecting the contract
obligations of insured banks and by general equitable principles
(regardless of whether such enforcement is considered in a proceeding in
equity or at law).
d. The Company hereby restates, as of the Closing Date (as defined
in the Pooling Agreement, the representations and warranties set forth in
Section 3.01 of the SWSA to and for the benefit of the Assignee and the
Trust, and by this reference incorporates such representations and
warranties herein, as of such Closing Date.
5. The Company hereby acknowledges that Xxxxx Fargo Bank, National Association
has been appointed as the Master Servicer of the Mortgage Loans pursuant to
the Pooling Agreement and, therefore, has the right to enforce all obligations
of the Company under the SWSA. Such rights will include, without limitation,
the right to terminate the Company under the SWSA upon the occurrence of an
event of default thereunder, the right to receive all remittances required to
be made by the Company under the SWSA, the right to receive all monthly
reports and other data required to be delivered by the Company under the SWSA,
the right to examine the books and records of the Company, indemnification
rights and the right to exercise certain rights of consent and approval
relating to actions taken by the Assignor. The Company shall make all
distributions under the SWSA 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: 50996400, MSM 2007-6XS
The Company shall deliver all reports required to be delivered under
this 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 2007-6XS
Telecopier: (000) 000-0000
6. Certain Matters Regarding the Trustee
Each party hereto hereby agrees as follows:
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 Agreement, (ii) each of the representations,
undertakings and agreements herein made on the part of assignee is made and
intended not as personal representations, undertakings and agreements by
LaSalle Bank National Association but is made and intended for the purpose of
binding only the Trust, (iii) nothing herein contained shall be construed as
creating any liability for LaSalle Bank National Association, individually or
personally, to perform any covenant (either express or implied) contained
herein, (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.
7. Amendments to the SWSA
The parties to this Agreement hereby agree to amend the SWSA as follows:
a. With respect to Article I, "Permitted Investments" shall have the
meaning of such term as defined in the Pooling and Servicing Agreement.
b. With respect to Article I, the definition of "Static Pool
Information" shall be inapplicable.
c. With respect to Article I, the definition of "Third-Party
Originator" shall be inapplicable.
d. Section 3.01(i) (Selection Process), Section 3.01(k) (Sale
Treatment) and Section 3.01(m) (No Broker's Fees) of the SWSA shall be
inapplicable.
e. Section 3.02 shall be inapplicable.
f. Section 4.05(vii) is hereby amended to add the term "Monthly
Advances," prior to the term "Servicing Advances."
g. The following is added as the second paragraph of Section 4.09:
"Amounts on deposit in the Custodial Account may at the
option of the Servicer be invested in Permitted
Investments. Any such Permitted Investment shall be made
in the name of the Servicer in trust for the benefit of
the Owner. All income on or gain realized from any such
Permitted Investment shall be for the benefit of the
Servicer and may be withdrawn from the Custodial Account
at any time by the Servicer. Any losses incurred in
respect of any such investment shall be deposited in the
Custodial Account, by the Servicer out of its own funds
immediately as realized."
h. The words "on or before the Remittance Date" are hereby deleted
from the first sentence of Section 4.17.
i. The second sentence of the second paragraph of Section 5.01 is
hereby amended and restated in its entirety as follows:
"Such interest shall be deposited in the Custodial Account
by the Company on the date such late payment is made and
shall cover the period commencing with the day following
the Business Day on which such payment was due and ending
with the Business Day on which such payment is made, both
inclusive."
j. The first paragraph of Section 5.02 is hereby amended and
restated in its entirety as follows:
"Not later than the Remittance Report Date, the Company
shall furnish to the Master Servicer, on behalf of the
Purchaser, in an electronic form the information required
by the reports attached hereto as Exhibit II, or a form
otherwise mutually agreed to by the Company and Purchaser,
with a trial balance report attached thereto, as to the
remittance period ending on the last day of the preceding
month."
k. Section 6.05 is hereby deleted in its entirety and replaced with
the following:
"[Reserved]".
l. The third clause of the first sentence of Section 6.07(ii) is
hereby amended and restated as follows:
"which continues unremedied for fourteen (14) calendar
days after the date on which such information,"
m. Section 9.01(e)(i) is hereby deleted in its entirety.
n. Section 9.01(e)(ii) is hereby deleted in its entirety.
o. Section 9.01(e)(iii) is amended to require the Company to comply
with the obligations thereof in connection with the purchase of servicing
rights for the Specified Mortgage Loans.
p. The following is added as the second paragraph of Section
9.01(e)(vii):
"The Company 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 Company or any Subservicer or the Company
or such Subservicer's performance hereunder."
q. Section 9.01(f)(i)(A) is amended to change the cross-reference
regarding material provided in written or electronic form from "Section
9.01(f)" to "Section 9.01(e)".
r. Section 10.01(ii) is hereby amended and restated in its entirety
as follows:
"failure by the Company duly to observe or perform in any
material respect any other of the covenants or agreements
on the part of the Company set forth in this Agreement
(other than as set forth in Section 6.07) which continues
unremedied for a period of 90 days after the date on which
written notice of such failure, requiring the same to be
remedied, shall have been given to the Company by the
Purchaser or by the Custodian; or"
s. Written notice provided in compliance with Sections 9.01 (e)(iv),
(v) and (vi) of the SWSA shall be substantially in the form of Exhibit
III to this Agreement.
8. Miscellaneous
A copy of all assessments, attestations, reports and certifications
required to be delivered by the Servicer under this Agreement and the SWSA
shall be delivered to the Master Servicer by the date(s) specified herein or
therein, and where such documents are required to be addressed to any party,
such addressees shall include the Master Servicer and the Master Servicer
shall be entitled to rely on such documents.
Any notices or other communications permitted or required under the
Agreement to be made to the Assignor, Assignee, the Master Servicer, the
Company, 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 the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-6XS
In the case of the Trustee:
LaSalle Bank National Association
000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attention: Global Securities and Trust Services MSM 2007-6XS
In the case of the Company:
Xxxxx Fargo Bank, N.A.
1 Home Xxxxxx
Xxx Xxxxxx, Xxxx 00000-0000
Attention: Xxxx X. Xxxxx, MAC#X2302-033
With a copy to
Xxxxx Fargo Bank, N.A.
0000 Xxx Xxxxxxx Xxx
Xxxxxxxxx, Xxxxxxxx 00000
Attention: Xxxxxx XxXxxxxx, MAC#X3901-01C
With a copy to:
Xxxxx Fargo Bank, N.A.
1 Home Campus
Xxx Xxxxxx, Xxxx 00000-0000
Attention: General Counsel, MAC#X2401-06T
9. This Agreement shall be construed in accordance with the laws of
the State of New York, without regard to conflicts of law principles, and the
obligations, rights and remedies of the parties hereunder shall be determined
in accordance with such laws.
10. No term or provision of this Agreement may be waived or modified
unless such waiver or modification is in writing and signed by the party
against whom such waiver or modification is sought to be enforced.
11. This Agreement shall inure to the benefit of (i) the successors
and assigns of the parties hereto and (ii) the Trust (including the Trustee
and the Master Servicer acting on the Trust's behalf). Any entity into which
Assignor, Assignee or Company may be merged or consolidated shall, without the
requirement for any further writing, be deemed Assignor, Assignee or Company,
respectively, hereunder.
12. Each of this Agreement and the SWSA shall survive the conveyance
of the Mortgage Loans and the assignment of the SWSA (solely with respect to
the Mortgage Loans) by Assignor to Assignee and nothing contained herein shall
supersede or amend the terms of the SWSA.
13. This Agreement may be executed simultaneously in any number of
counterparts. Each counterpart shall be deemed to be an original and all such
counterparts shall constitute one and the same instrument.
14. In the event that any provision of this Agreement conflicts with
any provision of the SWSA with respect to the Mortgage Loans, the terms of
this Agreement shall control.
15. Capitalized terms used in this Agreement (including the exhibits
hereto) but not defined in this Agreement shall have the meanings given to
such terms in the SWSA.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their duly authorized officers as of the date first above written.
XXXXXX XXXXXXX MORTGAGE CAPITAL INC.
By: /s/ Xxxxxxx Xxx
----------------------------
Name: Xxxxxxx Xxx
Title: Vice President
XXXXXX XXXXXXX CAPITAL I INC.
By: /s/ Xxxxxxx Xxx
----------------------------
Name: Xxxxxxx Xxx
Title: Vice President
XXXXX FARGO BANK, N.A.
By: /s/ Xxxxxx XxXxxxxx
----------------------------
Name: Xxxxxx XxXxxxxx
Title: Vice President
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 2007-6XS
By: /s/ Xxxx Xxxxx
-----------------------------
Name: Xxxx Xxxxx
Title: Vice President
Schedule I
Specified Mortgage Loan Schedule
[see Schedule A to the Pooling and Servicing Agreement
on file with the Servicer, the Master Servicer and the Depositor]
EXECUTION COPY
Exhibit IIA: Standard File Layout - Delinquency Reporting
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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
------------------------------------------------------------------------------------------------------------------------------
Contains a unique number as assigned by an external servicer
SERV_INVESTOR_NBR 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.
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PROP_ADDRESS Street Name and Number of Property
------------------------------------------------------------------------------------------------------------------------------
PROP_STATE The state where the property located.
------------------------------------------------------------------------------------------------------------------------------
PROP_ZIP Zip code where the property is located.
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BORR_NEXT_PAY_DUE_DATE The date that the borrower's MM/DD/YYYY
next payment is due to the servicer at the end of
processing cycle, as reported by Servicer.
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LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
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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.
------------------------------------------------------------------------------------------------------------------------------
The payment due date once the bankruptcy has been approved
POST_PETITION_DUE_DATE by the courts MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
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_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
Notice of 1st legal filed by an Attorney in a Foreclosure
FIRST_LEGAL_DATE Action MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
The date the court revokes legal possession of the property
EVICTION_COMPLETED_DATE from the borrower. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
LIST_PRICE The price at which an REO property is marketed. 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,)
or dollar
signs ($)
------------------------------------------------------------------------------------------------------------------------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
OCCUPANT_CODE Classification of how the property is occupied.
------------------------------------------------------------------------------------------------------------------------------
PROP_CONDITION_CODE A code that indicates the condition of the property.
------------------------------------------------------------------------------------------------------------------------------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
The current "as is" value of the property based on brokers
CURR_PROP_VAL price opinion or appraisal. 2
------------------------------------------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------------------------------------------
The circumstances which caused a borrower to stop paying on
a loan. Code indicates the reason why the loan is in
DELINQ_REASON_CODE default for this cycle.
------------------------------------------------------------------------------------------------------------------------------
Date Mortgage Insurance Claim Was Filed With Mortgage
MI_CLAIM_FILED_DATE Insurance Company. MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,)
or dollar
signs ($)
------------------------------------------------------------------------------------------------------------------------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,)
or dollar
signs ($)
------------------------------------------------------------------------------------------------------------------------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 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
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 signs ($)
------------------------------------------------------------------------------------------------------------------------------
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
------------------------------------------------------------------------------------------------------------------------------
No commas(,)
or dollar
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 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
-----------------------------------------------------------------------
EXECUTION COPY
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 group Text up to 10 digits 20
of loans.
----------------------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan by the Text up to 10 digits 10
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.
----------------------------------------------------------------------------------------------------------------------------------
The borrower name as received in the file. It is
BORROWER_NAME not separated by first and last name. Maximum length of 30 (Last, First) 30
----------------------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) or dollar signs ($) 11
payment that a borrower is expected to pay, P&I
constant.
----------------------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
----------------------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
----------------------------------------------------------------------------------------------------------------------------------
The servicer's fee rate for a loan as reported by
SERV_FEE_RATE the Servicer. 4 Max length of 6 6
----------------------------------------------------------------------------------------------------------------------------------
The servicer's fee amount for a loan as reported
SERV_FEE_AMT by the Servicer. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
The new loan payment amount as reported by the
NEW_PAY_AMT Servicer. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
----------------------------------------------------------------------------------------------------------------------------------
ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
----------------------------------------------------------------------------------------------------------------------------------
The borrower's actual principal balance at the
ACTL_BEG_PRIN_BAL beginning of the processing cycle. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
The borrower's actual principal balance at the end
ACTL_END_PRIN_BAL of the processing cycle. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
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 ($) 11
----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the first MM/DD/YYYY 10
curtailment amount.
----------------------------------------------------------------------------------------------------------------------------------
The curtailment interest on the first curtailment
CURT_ADJ_ AMT_1 amount, if applicable. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
----------------------------------------------------------------------------------------------------------------------------------
The curtailment interest on the second curtailment
CURT_ADJ_ AMT_2 amount, if applicable. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
----------------------------------------------------------------------------------------------------------------------------------
The curtailment interest on the third curtailment
CURT_ADJ_AMT_3 amount, if applicable. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
The loan "paid in full" amount as reported by the
PIF_AMT Servicer. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
----------------------------------------------------------------------------------------------------------------------------------
Action Code Key: 15=Bankruptcy, 2
ACTION_CODE The standard FNMA numeric code used to 30=Foreclosure,, 60=PIF,
indicate the default/delinquent status 63=Substitution,
of a particular loan. 65=Repurchase,70=REO
----------------------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
----------------------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
----------------------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) or dollar signs ($) 11
applicable.
----------------------------------------------------------------------------------------------------------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at 2 No commas(,) or dollar signs ($) 11
the beginning of the cycle date to be passed
through to investors.
----------------------------------------------------------------------------------------------------------------------------------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors 2 No commas(,) or dollar signs ($) 11
at the end of a processing cycle.
----------------------------------------------------------------------------------------------------------------------------------
SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) or dollar signs ($) 11
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.
----------------------------------------------------------------------------------------------------------------------------------
The actual gross interest amount less
the service fee amount for the current
reporting cycle as reported by the
Servicer -- only applicable for
ACTL_NET_INT Actual/Actual Loans. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or dollar signs ($) 11
prepays on his loan as reported by the Servicer.
----------------------------------------------------------------------------------------------------------------------------------
The prepayment penalty amount for the loan waived
PREPAY_PENALTY_ WAIVED by the servicer. 2 No commas(,) or dollar signs ($) 11
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the Modification for MM/DD/YYYY 10
the loan.
----------------------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha or numeric 30
----------------------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or dollar signs ($) 11
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.
(a)
(b) The numbers on the 332 form correspond with the numbers listed
below.
Liquidation and Acquisition Expenses:
-------------------------------------
1. The Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default
through liquidation breaking out the net interest and servicing
fees advanced is required.
2. The Total Interest Due less the aggregate amount of servicing fee
that would have been earned if all delinquent payments had been
made as agreed. For documentation, an Amortization Schedule from
date of default through liquidation breaking out the net interest
and servicing fees advanced is required.
3. Accrued Servicing Fees based upon the Scheduled Principal Balance
of the Mortgage Loan as calculated on a monthly basis. For
documentation, an Amortization Schedule from date of default
through liquidation breaking out the net interest and servicing
fees advanced is required.
4-12. Complete as applicable. Required documentation:
* For taxes and insurance advances - see page 2 of 332 form -
breakdown required showing period of coverage, base tax,
interest, penalty. Advances prior to default require evidence
of servicer efforts to recover advances.
* For escrow advances - complete payment history (to calculate
advances from last positive escrow balance forward)
* Other expenses - copies of corporate advance history showing
all payments
* REO repairs > $1500 require explanation
* REO repairs >$3000 require evidence of at least 2 bids.
* Short Sale or Charge Off require P&L supporting the decision
and WFB's approved Servicing Officer certification
* Unusual or extraordinary items may require further
documentation.
13. The total of lines 1 through 12.
(c) 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 ( ).
-5-
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)
-6-
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)
-7-
Escrow Disbursement Detail
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| Type | Date Paid | Period of | Total Paid | Base Amount | Penalties | Interest |
| (Tax /Ins.) | | Coverage | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
| | | | | | | |
|---------------|----------------|----------------|---------------|---------------|----------------|---------------|
-8-
EXHIBIT III
Additional Disclosure Notification
Xxxxx Fargo Bank, N.A. as [Securities Administrator and Master Servicer]
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Fax: (000) 000-0000
E-mail: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
Attn: Corporate Trust Services - MSM 2007-6XS - SEC REPORT PROCESSING
RE: **Additional Form [ ] Disclosure**Required
Ladies and Gentlemen:
In accordance with Section 9.01(e) [iv][v][vi] of the Master Seller's
Warranties and Servicing Agreement, dated as of April 1, 2006, as amended by
the Assignment, Assumption and Recognition Agreement dated as of March 1, 2007
among Xxxxxx Xxxxxxx Capital I Inc., as Depositor, Xxxxx Fargo Bank, National
Association, as Servicer, 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:
-9-
