MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., Depositor UBS REAL ESTATE SECURITIES INC., Transferor WELLS FARGO BANK, N.A., Master Servicer, Trust Administrator, Custodian and Credit Risk Manager and Trustee POOLING AND SERVICING AGREEMENT Dated...
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.,
Depositor
UBS
REAL
ESTATE SECURITIES INC.,
Transferor
XXXXX
FARGO BANK, N.A.,
Master
Servicer, Trust Administrator, Custodian and Credit Risk Manager
and
U.S.
BANK
NATIONAL ASSOCIATION,
Trustee
Dated
as
of September 1, 2007
MORTGAGE
PASS THROUGH CERTIFICATES, Series 2007-HF1
TABLE
OF
CONTENTS
ARTICLE
I
|
|
DEFINITIONS
|
|
Section
1.01
|
Definitions
|
ARTICLE
II
|
|
CONVEYANCE
OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES
|
|
Section
2.01
|
Conveyance
of Mortgage Loans
|
Section
2.02
|
Acceptance
by Trustee of the Mortgage Loans
|
Section
2.03
|
Remedies
for Breaches of Representations and Warranties
|
Section
2.04
|
Representations
and Warranties of the Depositor as to the Mortgage
Loans
|
Section
2.05
|
Conveyance
of the REMIC I Regular Interests; Acceptance of REMIC II by the
Trustee
|
Section
2.06
|
REMIC
Matters
|
Section
2.07
|
Covenants
of the Master Servicer
|
Section
2.08
|
Representations
and Warranties of the Master Servicer
|
Section
2.09
|
Representations
and Warranties of the Custodian
|
ARTICLE
III
|
|
ADMINISTRATION
AND MASTER SERVICING OF MORTGAGE LOANS
|
|
Section
3.01
|
Master
Servicing of Mortgage Loans
|
Section
3.02
|
Monitoring
of Servicers
|
Section
3.03
|
[Reserved].
|
Section
3.04
|
Rights
of the Depositor and the Trustee in Respect of the Master
Servicer
|
Section
3.05
|
Trustee
to Act as Master Servicer
|
Section
3.06
|
Protected
Accounts
|
Section
3.07
|
Collection
of Mortgage Loan Payments; Collection Account; Distribution
Account
|
Section
3.08
|
Collection
of Taxes, Assessments and Similar Items; Escrow
Accounts
|
Section
3.09
|
Access
to Certain Documentation and Information Regarding the Mortgage
Loans
|
Section
3.10
|
Permitted
Withdrawals from the Collection Account and Distribution
Account
|
Section
3.11
|
Maintenance
of Hazard Insurance
|
Section
3.12
|
Presentment
of Claims and Collection of Proceeds
|
Section
3.13
|
Maintenance
of the Primary Insurance Policies
|
Section
3.14
|
Realization
upon Defaulted Mortgage Loans
|
Section
3.15
|
REO
Property
|
Section
3.16
|
Due
on Sale Clauses; Assumption Agreements
|
Section
3.17
|
Trustee
to Cooperate; Release of Mortgage Files
|
Section
3.18
|
Documents,
Records and Funds in Possession of the Master Servicer and the Custodian
to Be Held for the Trustee
|
Section
3.19
|
Master
Servicing Compensation
|
Section
3.20
|
Access
to Certain Documentation
|
Section
3.21
|
Annual
Statement as to Compliance.
|
Section
3.22
|
Report
on Assessment of Compliance and Attestation.
|
Section
3.23
|
Errors
and Omissions Insurance; Fidelity Bonds.
|
Section
3.24
|
Credit
Risk Management Services and Reports; Reliability of
Data.
|
Section
3.25
|
Limitation
Upon Liability of Credit Risk Manager.
|
Section
3.26
|
Resignation
or Removal of Credit Risk Manager.
|
ARTICLE
IV
|
|
DISTRIBUTIONS
AND SERVICING ADVANCES
|
|
Section
4.01
|
Advances
|
Section
4.02
|
Priorities
of Distribution on the Certificates
|
Section
4.03
|
Allocation
of Realized Losses
|
Section
4.04
|
Distribution
Date Statements to Certificateholders
|
ARTICLE
V
|
|
THE
CERTIFICATES
|
|
Section
5.01
|
The
Certificates
|
Section
5.02
|
Certificate
Register; Registration of Transfer and Exchange of
Certificates
|
Section
5.03
|
Mutilated,
Destroyed, Lost or Stolen Certificates
|
Section
5.04
|
Persons
Deemed Owners
|
Section
5.05
|
Access
to List of Certificateholders’ Names and Addresses
|
Section
5.06
|
Maintenance
of Office or Agency
|
Section
5.07
|
Exchangeable
REMIC Certificates and Exchangeable Certificates
|
ARTICLE
VI
|
|
THE
DEPOSITOR, THE CUSTODIAN AND THE MASTER SERVICER
|
|
Section
6.01
|
Respective
Liabilities of the Depositor, the Master Servicer and the
Custodian
|
Section
6.02
|
Merger
or Consolidation of the Depositor, the Master Servicer and the
Custodian
|
Section
6.03
|
Limitation
on Liability of the Depositor, the Transferor, the Master Servicer,
the
Custodian and Others
|
Section
6.04
|
Limitation
on Resignation of Master Servicer
|
Section
6.05
|
Sale
and Assignment of Master Servicing Rights
|
Section
6.06
|
Fees
of the Custodian
|
ARTICLE
VII
|
|
DEFAULT
|
|
Section
7.01
|
Events
of Default
|
Section
7.02
|
Trustee
to Act; Appointment of Successor
|
Section
7.03
|
Notification
to Certificateholders
|
ARTICLE
VIII
|
|
CONCERNING
THE TRUSTEE AND THE MASTER SERVICER
|
|
Section
8.01
|
Duties
of Trustee
|
Section
8.02
|
Certain
Matters Affecting the Trustee
|
Section
8.03
|
Trustee
Not Liable for Certificates or Mortgage Loans
|
Section
8.04
|
Trustee
May Own Certificates
|
Section
8.05
|
Trustee’s
Fees and Expenses
|
Section
8.06
|
Eligibility
Requirements for Trustee
|
Section
8.07
|
Resignation
and Removal of Trustee
|
Section
8.08
|
Successor
Trustee
|
Section
8.09
|
Merger
or Consolidation of Trustee
|
Section
8.10
|
Appointment
of Co Trustee or Separate Trustee
|
Section
8.11
|
Tax
Matters
|
Section
8.12
|
Periodic
Filing
|
ARTICLE
IX
|
|
CONCERNING
THE TRUST ADMINISTRATOR
|
|
Section
9.01
|
Duties
of Trust Administrator
|
Section
9.02
|
Certain
Matters Affecting the Trust Administrator
|
Section
9.03
|
Trust
Administrator Not Liable for Certificates or Mortgage
Loans
|
Section
9.04
|
Trust
Administrator May Own Certificates
|
Section
9.05
|
Trust
Administrator’s Fees and Expenses
|
Section
9.06
|
Eligibility
Requirements for Trust Administrator
|
Section
9.07
|
Resignation
and Removal of Trust Administrator
|
Section
9.08
|
Successor
Trust Administrator
|
Section
9.09
|
Merger
or Consolidation of Trust Administrator
|
Section
9.10
|
Grantor
Trust Administration
|
ARTICLE
X
|
|
TERMINATION
|
|
Section
10.01
|
Termination
upon Liquidation or Purchase of Mortgage Loans
|
Section
10.02
|
Final
Distribution on the Certificates
|
Section
10.03
|
Additional
Termination Requirements
|
ARTICLE
XI
|
|
MISCELLANEOUS
PROVISIONS
|
|
Section
11.01
|
Amendment
|
Section
11.02
|
Recordation
of Agreement; Counterparts
|
Section
11.03
|
Governing
Law
|
Section
11.04
|
Intention
of Parties
|
Section
11.05
|
Notices
|
Section
11.06
|
Severability
of Provisions
|
Section
11.07
|
Assignment
|
Section
11.08
|
Limitation
on Rights of Certificateholders
|
Section
11.09
|
Inspection
and Audit Rights
|
Section
11.10
|
Compliance
With Regulation AB
|
Section
11.11
|
Certificates
Nonassessable and Fully Paid
|
SCHEDULES
|
|
Schedule
I
|
Mortgage
Loan Schedule
|
Schedule
II
|
Representations
and Warranties as to the Mortgage Loans.
|
Schedule
III
|
Class
P Prepayment Charges Mortgage Loan Schedule.
|
EXHIBITS
|
|
Exhibit
A 1:
|
Form
of Class [1-A-1] [1-A-2] [2-A-1] [2-A-2] [2-A-3] [3-A-1] [3-A-2]
[4-A-1]
[4-A-2] [4-A-4] [4-A-5] [4-A-6] [5-A-1] Certificate
|
Exhibit
A 2:
|
Form
of Class [4-A-3] [4-A-7] [4-AX] Certificate
|
Exhibit
A 3:
|
Form
of Class 4-PO Certificate
|
Exhibit
B:
|
Form
of Class [B-1] [B-2] [B-3] [B-4] [B-5] [B-6] [B-7] [B-8]
Certificate
|
Exhibit
C:
|
Form
of Class AR Certificate
|
Exhibit
D:
|
Form
of Class [P-1] [P-2] [P-3] [P-4] [P-5] Certificate
|
Exhibit
E:
|
Form
of Reverse of Certificates
|
Exhibit
F:
|
Form
of Initial Certification of Custodian
|
Exhibit
G:
|
Form
of Final Certification of Custodian
|
Exhibit
H:
|
Form
of Transfer Affidavit
|
Exhibit
I:
|
Form
of Transferor Certificate
|
Exhibit
J:
|
Form
of Investment Letter (Non Rule 144A)
|
Exhibit
K:
|
Form
of Rule 144A Letter
|
Exhibit
L:
|
Form
of Request for Release of Documents
|
Exhibit
M:
|
[Reserved]
|
Exhibit
N:
|
[Reserved]
|
Exhibit
O:
|
[Reserved]
|
Exhibit
P:
|
[Reserved]
|
Exhibit
Q:
|
Form
of Assessment of Compliance
|
Exhibit
R:
|
[Reserved]
|
Exhibit
S:
|
Additional
Disclosure Notification
|
Exhibit
T:
|
Additional
Form 10-D Disclosure
|
Exhibit
U:
|
Additional
Form 10-K Disclosure
|
Exhibit
V:
|
Form
8-K Disclosure Information
|
Exhibit
W:
|
Form
of Xxxxxxxx-Xxxxx Certification
|
Exhibit
X:
|
Assessments
of Compliance and Attestation Reports Servicing
Criteria
|
Exhibit
Y:
|
Form
of Assignment, Assumption and Recognition
Agreements
|
THIS
POOLING AND SERVICING AGREEMENT, dated as of September 1, 2007, among MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC., a Delaware corporation, as depositor
(the “Depositor”), UBS REAL ESTATE SECURITIES INC., a Delaware
corporation, as transferor (the “Transferor”), XXXXX FARGO BANK, N.A., a
national banking association, as master servicer (in such capacity, the
“Master Servicer”), as trust administrator (in such capacity, the
“Trust Administrator”), as custodian (in such capacity, the
“Custodian”) and as credit risk manager (in such capacity, the
“Credit
Risk Manager”), and U.S. BANK NATIONAL ASSOCIATION, a banking association
organized under the laws of the United States, as trustee (the
“Trustee”).
WITNESSETH
THAT
In
consideration of the mutual agreements herein contained, the parties hereto
agree as follows:
PRELIMINARY
STATEMENT:
The
Depositor intends to sell pass-through certificates to be issued hereunder
in
multiple classes, which in the aggregate will evidence the entire beneficial
ownership interest in each REMIC (as defined herein) created hereunder. The
Trust Fund will consist of a segregated pool of assets comprised of the Mortgage
Loans and certain other related assets subject to this Agreement.
REMIC
I
As
provided herein, the Trust Administrator will elect to treat the segregated
pool
of assets consisting of the Mortgage Loans and certain other related assets
subject to this Agreement as a REMIC (as defined herein) for federal income
tax
purposes, and such segregated pool of assets will be designated as “REMIC
I”. The Class R-I Interest will be the sole class of “residual
interests” in REMIC I for purposes of the REMIC Provisions (as defined
herein). The following table irrevocably sets forth the designation,
the REMIC I Remittance Rate, the initial Uncertificated Balance and, solely
for
purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the
“latest possible maturity date” for each of the REMIC I Regular Interests (as
defined herein). None of the REMIC I Regular Interests will be
certificated.
REMIC
I Regular Interest
|
REMIC
I Remittance Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
||||
LT-1A
|
Variable(2)
|
$ |
149.47
|
October
2047
|
|||
LT-ZZZ1
|
Variable(2)
|
$ |
17,585,086.78
|
October
2047
|
|||
LT-2A
|
Variable(2)
|
$ |
576.76
|
October
2047
|
|||
LT-ZZZ2
|
Variable(2)
|
$ |
67,854,996.68
|
October
2047
|
|||
LT-3A
|
Variable(2)
|
$ |
107.32
|
October
2047
|
|||
LT-ZZZ3
|
Variable(2)
|
$ |
12,630,100.90
|
October
2047
|
|||
LT-4A
|
7.00%
per annum
|
$ |
921.31
|
October
2047
|
|||
LT-4AXIO
|
Variable(2)
|
(3)
|
October
2047
|
||||
LT-4A3IO
|
7.00%
per annum
|
$ |
86,943,000.00
|
October
2047
|
|||
LT-4A4
|
7.00%
per annum
|
$ |
8,100,000.00
|
October
0000
|
|||
XX-0XX
|
0.00%
per annum
|
$ |
4,138,146.00
|
October
2047
|
|||
LT-ZZZ4
|
7.00%
per annum
|
$ |
9,212,141.03
|
October
2047
|
|||
LT-5A
|
Variable(2)
|
$ |
72.32
|
October
2047
|
|||
LT-ZZZ5
|
Variable(2)
|
$ |
8,513,081.89
|
October
2047
|
|||
P
|
0.000%
|
$ |
500.00
|
October
2047
|
_______________
(1)
|
Solely
for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
the Distribution Date immediately following the maturity date for
the
Mortgage Loan with the latest maturity date has been designated
as the
“latest possible maturity date” for each REMIC I Regular
Interest.
|
(2) Calculated
in accordance with the definition of “REMIC I Remittance Rate”
herein.
(3) Uncertificated
Notional Amount as set forth herein.
REMIC
II
As
provided herein, the Trust Administrator will elect to treat the segregated
pool
of assets consisting of the REMIC I Regular Interests as a REMIC (as defined
herein) for federal income tax purposes, and such segregated pool of assets
will
be designated as “REMIC II”. The Class R-II Interest will be the sole
class of “residual interests” in REMIC II for purposes of the REMIC Provisions
(as defined herein). The REMIC will issue both Uncertificated REMIC
II Regular Interests (with respect to the Exchangeable Certificates) and
REMIC
Certificates (the Class 1-A-1 Certificates, Class 1-A-2 Certificates, Class
3-A-1 Certificates, Class 3-A-2 Certificates, Class 4-PO Certificates, Class
4-A-3 Certificates, Class 4-A-4 Certificates, Class 4-A-5
Certificates, Class 4-AX Certificates, Class 5-A-1 Certificates,
Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Class
B-4 Certificates, Class B-5 Certificates, Class B-6 Certificates, Class B-7
Certificates and Class B-8 Certificates). The following table
irrevocably sets forth the designation of the REMIC II Pass-Through Rate
with
respect to the REMIC II Regular Interests, the Uncertificated Principal Balance
with respect to the REMIC II Regular Interests and the Certificate Principal
Balance with respect to the REMIC Certificates, and solely for purposes of
satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the “latest possible
maturity date” for each of the REMIC II Regular Interests and REMIC Certificates
(as defined herein). None of the REMIC II Regular Interests will be
certificated.
Designation
|
Pass-Through
Rate
|
Initial
Aggregate Certificate Principal Balance
|
Latest
Possible
Maturity
Date(1)
|
||||||
Class
1-A-1
|
Variable(3)
|
$ |
14,481,000.00
|
October
2047
|
|||||
Class
1-A-2
|
Variable(3)
|
$ |
1,609,400.00
|
October
2047
|
|||||
2-A-1
Interest
|
Variable(3)
|
$ |
55,879,000.00
|
October
2047
|
|||||
2-A-2
Interest
|
Variable(3)
|
$ |
6,209,000.00
|
October
2047
|
|||||
Class
3-A-1
|
Variable(3)
|
$ |
10,401,000.00
|
October
2047
|
|||||
Class
3-A-2
|
Variable(3)
|
$ |
1,156,000.00
|
October
2047
|
|||||
4-A-2
Interest
|
6.50%
per annum
|
$ |
86,943,000.00
|
October
2047
|
|||||
4-A-3
Interest
|
0.50%
per annum
|
(4)
|
October
2047
|
||||||
4-A-4A
Interest
|
6.50%
per annum
|
$ |
8,100,000.00
|
October
2047
|
|||||
4-A-4B
Interest
|
0.50%
per annum
|
(4)
|
October
2047
|
||||||
Class
4-PO
|
0.00%(2)
|
$ |
4,138,146.00
|
October
2047
|
|||||
Class
4-AX
|
Variable(3)
|
(4)
|
October
2047
|
||||||
Class
5-A-1
|
Variable(3)
|
$ |
7,790,000.00
|
October
2047
|
|||||
Class
B-1
|
Variable(3)
|
$ |
8,168,000.00
|
October
2047
|
|||||
Class
B-2
|
Variable(3)
|
$ |
967,000.00
|
October
2047
|
|||||
Class
B-3
|
Variable(3)
|
$ |
1,612,000.00
|
October
2047
|
|||||
Class
B-4
|
Variable(3)
|
$ |
1,290,000.00
|
October
2047
|
|||||
Class
B-5
|
Variable(3)
|
$ |
645,000.00
|
October
2047
|
|||||
Class
B-6
|
Variable(3)
|
$ |
1,290,000.00
|
October
2047
|
|||||
Class
B-7
|
Variable(3)
|
$ |
1,827,000.00
|
October
2047
|
|||||
Class
B-8
|
Variable(3)
|
$ |
2,472,734.46
|
October
2047
|
|||||
Class
P-1
|
N/A
|
$ |
100.00
|
October
2047
|
|||||
Class
P-2
|
N/A
|
$ |
100.00
|
October
2047
|
|||||
Class
P-3
|
N/A
|
$ |
100.00
|
October
2047
|
|||||
Class
P-4
|
N/A
|
$ |
100.00
|
October
2047
|
|||||
Class
P-5
|
N/A
|
$ |
100.00
|
October
2047
|
|||||
Class
AR
|
Variable(3)
|
$ |
100.00
|
October
2047
|
_______________
(1)
|
Solely
for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
the Distribution Date immediately following the maturity date for
the
Mortgage Loan with the latest maturity date has been designated
as the
“latest possible maturity date” for each Class of
Certificates.
|
(2)
|
The
Class PO Certificates are not entitled to distributions of
interest.
|
(3)
|
Calculated
in accordance with the definition of “Pass-Through Rate”
herein.
|
(4)
|
The
Class 4-AX Certificates, the Uncertificated REMIC II Regular Interests
4-A-3 and the Uncertificated REMIC II Regular Interests 4-A-4B
do not have
Certificate Principal Balances. For federal income tax
purposes, the Class 4-AX Certificates, the Uncertificated REMIC
II Regular
Interests 4-A-3 and Uncertificated REMIC II Regular Interests 4-A-4B
will
have a Notional Amount equal to the Uncertificated Notional Amount
of
REMIC I Regular Interest LT-4AXIO, REMIC I Regular Interest LT-4A3IO
and
REMIC I Regular Interest LT-4A4, respectively, and will be entitled
to
100% of amounts distributed on such REMIC I Regular
Interests.
|
Grantor
Trust/Exchangeable Certificates
As
provided herein, the Trust Administrator will execute and authenticate the
Grantor Trust/Exchangeable Certificates (heretofore referred to as the
Exchangeable Certificates, as defined below) in any of the following
combinations. The Class 2-A-3 Certificates, the Class 4-A-1
Certificates, the Class 4-A-5 Certificates, the Class 4-A-6 Certificates
and the
Class 4-A-7 Certificates will be the form in which the Grantor
Trust/Exchangeable Certificates are initially offered.
Designation
|
Exchangeable
Certificates
|
REMIC
II Regular Interests Combinations
|
Pass-Through
Rate
|
Initial
Certificate Principal Balance
|
Class
2-A-3
|
(1)
|
$ 62,088,000.00
|
||
Class
2-A-1
|
Class
2-A-1 Regular Interest,
|
(1)
|
||
Class
2-A-2
|
Class
2-A-2 Regular Interest
|
(1)
|
||
Class
4-A-1
|
7.00%
per annum
|
$ 86,943,000.00
|
||
Class
4-A-2
|
Class
4-A-2 Regular Interest,
|
6.50%
per annum
|
|
|
Class
4-A-3
|
Class
4-A-3 Regular Interest
|
0.50%
per annum
|
||
Class
4-A-5
|
7.00%
per annum
|
$ 95,043,000.00
|
||
Class
4-A-2
|
Class
4-A-2 Regular Interest,
|
6.50%
per annum
|
|
|
Class
4-A-3
|
Class
4-A-3 Regular Interest
|
0.50%
per annum
|
||
Class
4-A-4
|
Class
4-A-4A Regular Interest
|
6.50%
per annum
|
||
Class
4-A-4B Regular Interest
|
0.50%
per annum
|
|||
Class
4-A-6
|
6.50%
per annum
|
$ 95,043,000.00
|
||
Class
4-A-7
|
0.50%
per annum
|
(2)
|
||
Class
4-A-2
|
Class
4-A-2 Regular Interest,
|
6.50%
per annum
|
||
Class
4-A-3
|
Class
4-A-3 Regular Interest
|
0.50%
per annum
|
||
Class
4-A-4
|
Class
4-A-4A Regular Interest
|
6.50%
per annum
|
||
Class
4-A-4B Regular Interest
|
0.50%
per annum
|
(1)
|
Calculated
as described under REMIC II Remittance Rate
herein.
|
(2)
|
The
Class 4-A-7 Certificates do not have Certificate Principal
Balances. For federal income tax purposes, the Class 4-A-7
Certificates will have a Notional Amount equal to the aggregate
Uncertificated Principal Balance of REMIC II Regular Interest 4-A-2
and
REMIC II Regular Interest Class
4-A-4A.
|
As
of the
Cut-off Date, the Group 1 Mortgage Loans had an aggregate Scheduled Principal
Balance equal to $17,585,236.25. As of the Cut-off Date, the Group 2
Mortgage Loans had an aggregate Scheduled Principal Balance equal to
$67,855,573.44. As of the Cut-off Date, the Group 3 Mortgage Loans
had an aggregate Scheduled Principal Balance equal to
$12,630,208.22. As of the Cut-off Date, the Group 4 Mortgage Loans
had an aggregate Scheduled Principal Balance equal to
$108,394,208.34. As of the Cut-off Date, the Group 5 Mortgage Loans
had an aggregate Scheduled Principal Balance equal to
$8,513,154.21.
Defined
terms and provisions herein relating to statistical rating agencies not
designated above as Rating Agencies shall be of no force or effect.
ARTICLE
I
DEFINITIONS
Section
1.01 Definitions. Whenever
used in this Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
10-K
Filing Deadline: As defined in Section 8.12.
Accountant’s
Attestation: As defined in Section 3.22(b)(i).
Accrued
Certificate Interest: With respect to any Distribution Date and
any interest bearing Class of Certificates, the sum of (i) one month’s interest
accrued during the related Interest Accrual Period at the Pass-Through Rate
for
such Class on the related Class Principal Balance or Notional Amount, as
applicable, subject to reduction as provided in Section 4.02(c) plus
(ii) any Class Unpaid Interest Amounts for such Class.
Additional
Disclosure Notification: As set forth in Exhibit S.
Additional
Form 10-D Disclosure: As defined in Section
8.12(a)(i).
Additional
Form 10-K Disclosure: As defined in Section
8.12(b)(i).
Adjustment
Amount: With respect to the Special Hazard Loss Coverage Amount
and, with respect to each anniversary of the Cut-off Date, the amount, if any,
by which the Special Hazard Loss Coverage Amount (without giving effect to
the
deduction of the Adjustment Amount for such anniversary) exceeds the greatest
of
(x) the product of 1% and the outstanding principal balance of all the
related Mortgage Loans on the Distribution Date immediately preceding such
anniversary, (y) the outstanding principal balance of related Mortgage
Loans secured by Mortgaged Properties in the highest California zip code
concentration on the Distribution Date immediately preceding such anniversary
and (z) twice the outstanding principal balance of the related Mortgage
Loan which has the largest outstanding principal balance on the Distribution
Date immediately preceding such anniversary.
Adjustment
Date: As to each Mortgage Loan, the date on which the Mortgage
Rate is adjusted in accordance with the terms of the related Mortgage Note
and
Mortgage.
Advance: An
advance of principal or interest required to be made by the applicable Servicer
pursuant to the related Servicing Agreement or required to be made by the Master
Servicer with respect to any Distribution Date pursuant to
Section 4.01.
Adverse
Grantor Trust Event: Any event that would cause the Grantor Trust to lose
its status as a grantor trust under subpart E of Part I of subchapter
J of the Code.
Affiliate: When
used with reference to a specified Person, another Person that (i) directly
or indirectly controls or is controlled by or is under common control with
the
specified Person, (ii) is an officer of, partner in or trustee of, or
serves in a similar capacity with respect to, the specified Person or of which
the specified Person is an officer, partner or trustee, or with respect to
which
the specified Person serves in a similar capacity or (iii) directly or
indirectly is the beneficial owner of 10% or more of any class of equity
securities of the specified Person or of which the specified Person is directly
or indirectly the owner of 10% or more of any class of equity
securities.
Aggregate
Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Mortgage Loans that were
Outstanding Mortgage Loans on the Due Date in the month preceding the month
of
such Distribution Date.
Aggregate
Subordinate Optimal Principal Amount: For any Distribution Date,
the sum of the Subordinate Optimal Principal Amounts for all of the Loan Groups
(net of the PO Percentage of the Scheduled Principal Balance of each Discount
Mortgage Loan).
Aggregate
Subordinate Percentage: As of any Distribution Date, the
aggregate Class Principal Balance for the Subordinate Certificates immediately
prior to such Distribution Date divided by the sum of the Group Pool Principal
Balance for all of the Loan Groups (net of the PO Percentage of the Scheduled
Principal Balance of each Discount Loan).
Agreement: This
Pooling and Servicing Agreement and all amendments or supplements
hereto.
Allocable
Share: For any Distribution Date and each Class of Subordinate
Certificates, the portion of the Aggregate Subordinate Optimal Principal Amount
allocable to such Class, equal to the product of the Aggregate Subordinate
Optimal Principal Amount on such Distribution Date and a fraction, the numerator
of which is the related Class Principal Balance thereof and the denominator
of
which is the aggregate of the Class Principal Balances of the Subordinate
Certificates; provided, that no class of such Subordinate Certificates
will be entitled on any Distribution Date to receive distributions pursuant
to
clauses (ii), (iii) and (iv) of the definition of Subordinate Optimal
Principal Amount unless the Class Prepayment Distribution Trigger for that
class
is satisfied for that Distribution Date; if the Class Prepayment Distribution
Trigger is not satisfied for an outstanding class of such Subordinate
Certificates, those amounts will be distributable to the remaining classes
of
such Subordinate Certificates for which the Class Prepayment Distribution
Trigger is satisfied, pro rata, according to Certificate Principal
Balance.
Amount
Available for Group 1 Principal: As to any Distribution
Date, Group 1 Available Funds for such Distribution Date reduced by the
aggregate amount distributable on such Distribution Date in respect of interest
on the Group 1 Certificates pursuant to Section 4.02(a)(i) priority
first sub-clause (a).
Amount
Available for Group 2 Principal: As to any Distribution
Date, Group 2 Available Funds for such Distribution Date reduced by the
aggregate amount distributable on such Distribution Date in respect of interest
on the Group 2 Certificates pursuant to
Section 4.02(a)(i) priority first
sub-clause (b).
Amount
Available for Group 3 Principal: As to any Distribution
Date, Group 3 Available Funds for such Distribution Date reduced by the
aggregate amount distributable on such Distribution Date in respect of interest
on the Group 3 Certificates pursuant to
Section 4.02(a)(i) priority first
sub-clause (c).
Amount
Available for Group 4 Principal: As to any Distribution
Date, Group 4 Available Funds for such Distribution Date reduced by the
aggregate amount distributable on such Distribution Date in respect of interest
on the Group 4 Certificates pursuant to
Section 4.02(a)(i) priority first
sub-clause (d).
Amount
Available for Group 5 Principal: As to any Distribution
Date, Group 5 Available Funds for such Distribution Date reduced by the
aggregate amount distributable on such Distribution Date in respect of interest
on the Group 5 Certificates pursuant to
Section 4.02(a)(i) priority first
sub-clause (e).
Amount
Held for Future Distribution: As to any Distribution Date and any
Mortgage Loan or Loan Group, the aggregate amount held in the Collection Account
at the close of business on the related Servicer Remittance Date with respect
to
such Mortgage Loan or Loan Group at the close of business on the related
Servicer Remittance Date on account of (i) Principal Prepayments received
after the related Prepayment Period, and Liquidation Proceeds and Insurance
Proceeds received in the month of such Distribution Date and (ii) all
Scheduled Payments due after the related Due Date.
Annual
Statement of Compliance: As defined in Section 3.21(a).
Apportioned
Subordinate Principal Distribution Amount: With respect to a
Class of Subordinate Certificates and any Distribution Date, the product of
(i) the Subordinate Principal Distribution Amount and (ii) the
applicable Apportionment Fraction.
Apportionment
Fraction: With respect to each Class of Subordinate Certificates
and for any Distribution Date, in the event that the Class Principal Balances
of
the Senior Certificates of any Certificate Group have been reduced to zero,
a
fraction the numerator of which is equal to the sum of the Subordinate Optimal
Principal Amount of the Loan Group (or Groups) related to such Certificate
Group (or Groups), and the denominator of which is equal to the Aggregate
Subordinate Optimal Principal Amount.
Appraised
Value: With respect to any Mortgage Loan, the Appraised Value of
the related Mortgaged Property shall be: (i) with respect to a
Mortgage Loan other than a Refinancing Mortgage Loan, the lesser of (a) the
value of the Mortgaged Property based upon the appraisal made at the time of
the
origination of such Mortgage Loan and (b) the sales price of the Mortgaged
Property at the time of the origination of such Mortgage Loan; and
(ii) with respect to a Refinancing Mortgage Loan, the value of the
Mortgaged Property based upon the appraisal made at the time of the origination
of such Refinancing Mortgage Loan as modified by an updated
appraisal.
Assessment
of Compliance: As defined in Section 3.22(i)(a).
Assignment: An
individual assignment of a Mortgage, notice of transfer or equivalent instrument
in recordable form, sufficient under the laws of the jurisdiction wherein the
related Mortgaged Property is located to reflect of record the sale or transfer
of the Mortgage Loan.
Assignment
Agreements: The following Assignment, Assumption and Recognition
Agreements, each dated as of September 1, 2007, whereby certain Servicing
Agreements solely with respect to the related Mortgage Loans were assigned
to
the Depositor for the benefit of the Certificateholders:
(a) The
Assignment, Assumption and Recognition Agreement among Bank of America, as
company, the Transferor and the Depositor;
(b) The
Assignment, Assumption and Recognition Agreement among Cenlar, as company,
the
Transferor and the Depositor;
(c) The
Assignment, Assumption and Recognition Agreement among Chevy Chase, as company,
the Transferor and the Depositor;
(d) The
Assignment, Assumption and Recognition Agreement among Xxxxxx, as company,
the
Transferor and the Depositor;
(e) The
Assignment, Assumption and Recognition Agreement among GMAC, as company, the
Transferor and the Depositor;
(f) The
Assignment, Assumption and Recognition Agreement among Mid America, as company,
the Transferor and the Depositor;
(g) The
Assignment, Assumption and Recognition Agreement among Standard, as company,
the
Transferor and the Depositor; and
(h) The
Assignment, Assumption and Recognition Agreement among Xxxxx Fargo, as company,
the Transferor and the Depositor.
Assignment
of Proprietary Lease: With respect to a Cooperative Loan, the
assignment or mortgage of the related Proprietary Lease from the Mortgagor
to
the originator of the Cooperative Loan.
Available
Funds: With respect to any Certificate Group, the Group 1
Available Funds, the Group 2 Available Funds, the Group 3 Available
Funds, the Group 4 Available Funds and the Group 5 Available Funds as
the case may be.
Bank
of America: Bank of
America, National Association, and its successors and assigns, in its
capacity as Servicer of the Bank of America Mortgage Loans.
Bank
of America Mortgage Loans: The Mortgage Loans for which Bank of
America is listed as “Servicer” on the Mortgage Loan.
Bank
of America Servicing Agreement: Solely with respect to the Bank
of America Mortgage Loans, the Flow Mortgage Loan Sale and Servicing Agreement,
dated as of April 1, 2005, as amended, between the Transferor and Bank of
America, and as the
same may be amended from time to time and any assignments and conveyances
related to the Bank of America Mortgage Loans.
Bankruptcy
Code: The United States Bankruptcy Reform Act of 1978, as
amended.
Bankruptcy
Coverage Termination Date: With respect to any Loan Group, the
point in time at which the Bankruptcy Loss Coverage Amount is reduced to
zero.
Bankruptcy
Loss: With respect to any Mortgage Loan, a Deficient Valuation or
Debt Service Reduction as reported by the applicable Servicer to the Master
Servicer; provided, however, that a Bankruptcy Loss shall not be
deemed a Bankruptcy Loss hereunder so long as the Master Servicer has notified
the Trustee in writing that either the Master Servicer or the applicable
Servicer is diligently pursuing any remedies that may exist in connection with
the related Mortgage Loan and either (A) the related Mortgage Loan is not
in default with regard to payments due thereunder or (B) delinquent
payments of principal and interest under the related Mortgage Loan and any
related escrow payments in respect of such Mortgage Loan are being advanced
on a
current basis by either the Master Servicer or the applicable Servicer, in
either case without giving effect to any Debt Service Reduction or Deficient
Valuation.
Bankruptcy
Loss Coverage Amount: With respect to any Distribution Date,
$100,000 less (i) the aggregate amount of Bankruptcy Losses relating to the
Mortgage Loans since September 1, 2007 and (ii) any permissible reductions
in such Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating
Agency to the Trust Administrator to the effect that any such reduction or
modification will not adversely affect the then current ratings assigned to
the
Senior Certificates rated by it.
Book-Entry
Certificates: All Classes of Offered Certificates other than the
Physical Certificates.
Business
Day: Any day other than (i) a Saturday or a Sunday, or
(ii) a day on which banking institutions in the City of New York, New York,
Minnesota, Maryland, or any city in which the Corporate Trust Office of the
Trustee or Trust Administrator is located are authorized or obligated by law
or
executive order to be closed.
Cenlar: Cenlar,
FSB, and its successors
and assigns, in its capacity as Servicer of the Cenlar Mortgage
Loans.
Cenlar
Mortgage Loans: The Mortgage Loans for which Cenlar is listed as
“Servicer” on the Mortgage Loan.
Cenlar
Servicing Agreement: Solely with respect to the Cenlar Mortgage
Loans, the Servicing Agreement, dated as of January 1, 2006, as amended, by
and
among Cenlar, as servicer, UBS Real Estate Securities Inc., as seller and Xxxxx
Fargo Bank, National Association, as master servicer, and as the same may be
amended from time to time and any assignments and conveyances related to the
Cenlar Mortgage Loans.
Certificate: Any
one of the Certificates executed by the Trust Administrator on behalf of the
Trust and authenticated by the Trust Administrator in substantially the forms
attached hereto as Exhibits A through E.
Certificate
Group: The Group 1 Certificates, Group 2 Certificates,
Group 3 Certificates, Group 4 Certificates and Group 5
Certificates, as applicable.
Certificate
Owner: With respect to a Book-Entry Certificate, the Person who
is the beneficial owner of such Book-Entry Certificate.
Certificate
Principal Balance: With respect to any Certificates (other than
the Interest Only Certificates and Class P Certificates) at any date, the
maximum dollar amount of principal to which the Holder thereof is then entitled
hereunder, such amount being equal to the Denomination thereof minus the sum
of
(i) all distributions of principal previously made with respect thereto and
(ii) all Realized Losses allocated thereto and, in the case of any
Subordinate Certificates, all other reductions in Certificate Principal Balance
previously allocated thereto pursuant to Section 4.03; provided,
however, that pursuant to Section 4.03(d), the Class Principal
Balance of a Class of Certificates may be increased up to the amount of Realized
Losses previously allocated to such Class, in the event that there is a Recovery
on a related Mortgage Loan, and the Certificate Principal Balance of any
individual Certificate of such Class will be increased by its pro
rata share of the increase to such Class. The Class P
Certificates have no Certificate Principal Balance.
Certificate
Register: The register maintained pursuant to Section 5.02
hereof.
Certificateholder
or Holder: The person in whose name a Certificate is registered
in the Certificate Register, except that, solely for the purpose of giving
any
consent pursuant to this Agreement, any Certificate registered in the name
of
the Master Servicer or the Depositor or any affiliate of the Master Servicer
or
the Depositor, as applicable, shall be deemed not to be Outstanding and the
Percentage Interest evidenced thereby shall not be taken into account in
determining whether the requisite amount of Percentage Interests necessary
to
effect such consent has been obtained; provided, however, that, if
any such Person (including the Master Servicer or the Depositor) owns 100%
of
the Percentage Interests evidenced by a Class of Certificates, such Certificates
shall be deemed to be Outstanding for purposes of any provision hereof that
requires the consent of the Holders of Certificates of a particular
Class as a condition to the taking of any action hereunder. The
Trust Administrator is entitled to rely conclusively on a certification of
the
Master Servicer or the Depositor or any affiliate of the Master Servicer or
the
Depositor, as applicable, in determining which Certificates are registered
in
the name of an affiliate of the Master Servicer or the Depositor.
Certification: As
specified in Section 8.12(d).
Certification
Parties: As defined in Section 8.12.
Certifying
Person: As defined in Section 8.12.
Chevy
Chase: Chevy Chase
Bank, F.S.B., and its successors and assigns, in its capacity as Servicer
of the Chevy Chase Mortgage Loans.
Chevy
Chase Mortgage Loans: The Mortgage Loans for which Chevy Chase is
listed as “Servicer” on the Mortgage Loan.
Chevy
Chase Servicing Agreement: Solely with respect to the Chevy Chase
Mortgage Loans, the Amended and Restated Master Loan Purchase and Servicing
Agreement, dated as of July 1, 2005, as amended and restated to and including
June 1, 2006, between the Transferor and Chevy Chase, and as the same may be
amended from time to time and any assignments and conveyances related to the
Chevy Chase Mortgage Loans.
Class: All
Certificates bearing the same class designation.
Class
1-A Certificate: The Class 1-A-1 Certificates and the Class 1-A-2
Certificates.
Class
1-A-1 Certificate: Any one of the Class 1-A-1 Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-1 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
1-A-2 Certificate: Any one of the Class 1-A-2 Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-1 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
2-A Certificate: The Class 2-A-1 Certificates, the Class 2-A-2 Certificates
and the Class 2-A-3 Certificates.
Class
2-A-1 Certificate: Any one of the Class 2-A-1 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 2-A-1 held by such
Grantor Trust.
Class
2-A-2 Certificate: Any one of the Class 2-A-2 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 2-A-2 held by such
Grantor Trust.
Class
2-A-3 Certificate: Any one of the Class 2-A-3 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 2-A-3 held by such
Grantor Trust.
Class
3-A Certificate: The Class 3-A-1 Certificates and the Class 3-A-2
Certificates.
Class
3-A-1 Certificate: Any one of the Class 3-A-1 Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-1 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
3-A-2 Certificate: Any one of the Class 3-A-2 Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-1 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
4-A Certificate: The Class 4-A-1 Certificates, the Class 4-A-2 Certificates,
the Class 4-A-4 Certificates, the Class 4-A-5 Certificates and the Class 4-A-6
Certificates.
Class
4-A-1 Certificate: Any one of the Class 4-A-1 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 4-A-1 held by such
Grantor Trust.
Class
4-A-2 Certificate: Any one of the Class 4-A-2 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 4-A-2 held by such
Grantor Trust.
Class
4-A-3 Certificate: Any one of the Class 4-A-3 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-2 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 4-A-3 held by such
Grantor Trust.
Class
4-A-4 Certificate: Any one of the Class 4-A-4 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interests 4-A-4A and 4-A-4B
held
by such Grantor Trust.
Class
4-A-5 Certificate: Any one of the Class 4-A-5 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial ownership
interest in the Uncertificated REMIC II Regular Interest 4-A-5 held by such
Grantor Trust.
Class
4-A-6 Certificate: Any one of the Class 4-A-6 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-1 and evidencing a beneficial
ownership interest in the Uncertificated REMIC II Regular Interest 4-A-6 held
by
such Grantor Trust.
Class
4-A-7 Certificate: Any one of the Class 4-A-7 Certificates issued by the
Grantor Trust and authenticated by the Trust Administrator, substantially in
the
form annexed hereto as Exhibit A-2 and evidencing a beneficial
ownership interest in the Uncertificated REMIC II Regular Interest 4-A-7 held
by
such Grantor Trust.
Class
4-AX Certificate: Any one of the Class 4-AX Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit
A-2 and evidencing a Regular Interest in REMIC II for purposes of the
REMIC Provisions.
Class
4-PO Certificate: Any one of the Class 4-PO Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-3 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
5-A Certificate: The Class 5-A-1 Certificates.
Class
5-A-1 Certificate: Any one of the Class 5-A-1 Certificates executed by the
Trust Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit A-1 and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
A Certificates: Any Class 1-A Certificate, Class 2-A Certificate, Class 3-A
Certificate, Class 4-A Certificate or Class 5-A Certificate.
Class
AR Certificate: Any one of the Class AR Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit C and
evidencing the ownership of the Class R-I Residual Interest and the Class R-II
Residual Interest.
Class
B Certificates: Any Class B-1 Certificate, Class B-2 Certificate, Class B-3
Certificate, Class B-4 Certificate, Class B-5 Certificate, Class B-6
Certificate, Class B-7 Certificate or Class B-8 Certificate.
Class
B-1 Certificate: Any one of the Class B-1 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-2 Certificate: Any one of the Class B-2 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-3 Certificate: Any one of the Class B-3 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-4 Certificate: Any one of the Class B-4 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-5 Certificate: Any one of the Class B-5 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-6 Certificate: Any one of the Class B-6 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-7 Certificate: Any one of the Class B-7 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
B-8 Certificate: Any one of the Class B-8 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit B and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
Interest Shortfall: As to any Distribution Date and any
interest-bearing Class of Certificates, the amount by which the amount described
in clause (i) of the definition of Accrued Certificate Interest for such
Class exceeds the amount of interest actually distributed on such Class on
such Distribution Date pursuant to such clause (i).
Class P
Certificates: The Class P-1 Certificates, the Class P-2
Certificates, the Class P-3 Certificates, the Class P-4 Certificates and the
Class P-5 Certificates.
Class
P-1 Certificate: Any one of the Class P-1 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit D and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
P-2 Certificate: Any one of the Class P-2 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit D and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
P-3 Certificate: Any one of the Class P-3 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit D and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
P-4 Certificate: Any one of the Class P-4 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit D and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
P-5 Certificate: Any one of the Class P-5 Certificates executed by the Trust
Administrator on behalf of the Trust and authenticated by the Trust
Administrator, substantially in the form annexed hereto as Exhibit D and
evidencing a Regular Interest in REMIC II for purposes of the REMIC
Provisions.
Class
P Amount: On the Closing Date is $500.
Class
PO Certificate: Any Class 4-PO Certificate.
Class P
Prepayment Charges: Each of the (i) Group 1 Prepayment
Charges, (ii) Group 2 Prepayment Charges, (iii) Group 3 Prepayment Charges,
(iv)
Group 4 Prepayment Charges and (v) Group 5 Prepayment Charges.
Class
Prepayment Distribution Trigger: This trigger is satisfied with
respect to any Class of Subordinate Certificates and any Distribution Date,
if
either (i) the Fractional Interest for such Class with respect to such
Distribution Date, equals or exceeds the Fractional Interest for such Class
calculated as of the Closing Date or (ii) such Class of Subordinate
Certificates is the most senior Class of Subordinate Certificates then
outstanding.
Class
Principal Balance: With respect to any Class of Certificates
(other than the Interest Only Certificates and the Class P Certificates)
and as to any date of determination, the aggregate of the Certificate Principal
Balances of all Certificates of such Class as of such date.
Class
R-I Interest: The Residual Interest in REMIC I for the purposes of the REMIC
Provisions.
Class
R-II Interest: The Residual Interest in REMIC II for the purposes of the
REMIC Provisions.
Class Unpaid
Interest Amounts: As to any Distribution Date and any interest
bearing Class of Certificates, the amount by which the aggregate Class Interest
Shortfalls for such Class on prior Distribution Dates exceeds the amount
distributed on such Class on prior Distribution Dates pursuant to
clause (ii) of the definition of Accrued Certificate Interest for such
Class.
Clean-up
Call Mortgage Loan Price: With respect to each Mortgage Loan (not
including REO Properties) to be purchased pursuant to Section 10.01(a), the
greater of (x) the Par Call Price for such Mortgage Loan and (y) the
Fair Market Value Call Price for such Mortgage Loan.
Clean-up
Call REO Property Price: With respect to each REO Property to be
purchased pursuant to Section 10.01(a), the lesser of (x) the
appraised value of such REO Property as determined by the higher of two
appraisals completed by two independent appraisers selected by the Master
Servicer at the expense of the Master Servicer and (y) the unpaid principal
balance of each Mortgage Loan related to such REO Property plus accrued and
unpaid interest thereon at the applicable Net Mortgage Rate.
Closing
Date: October 9, 2007.
Code: The
Internal Revenue Code of 1986, including any successor or amendatory
provisions.
Collection
Account: The separate Eligible Account or Accounts created and
maintained by the Master Servicer pursuant to Section 3.07 with a
depository institution in the name of the Master Servicer for the benefit of
the
Trustee on behalf of Certificateholders and designated “Xxxxx Fargo Bank, N.A.,
in trust for registered holders of MASTR Alternative Loan Trust 2007-HF1
Mortgage Pass-Through Certificates, Series 2007-HF1.” The
Collection Account may be deemed to be a sub-account of the Distribution
Account.
Commission: The
U.S. Securities and Exchange Commission.
Compensating
Interest: With respect to any Distribution Date and any Servicer,
the amount required to be paid by such Servicer under the related Servicing
Agreement in connection with Prepayment Interest Shortfalls that occur on
Mortgage Loans serviced by such Servicer for the related Distribution
Date. If any Servicer fails to make its required Compensating
Interest payment on any Distribution Date, the Master Servicer will be required
to make such Compensating Interest payment to the same extent that such Servicer
is required to make such Compensating Interest payment.
Control
Person: As defined in Section 8.05.
Cooperative
Corporation: With respect to any Cooperative Loan, the
cooperative apartment corporation that holds legal title to the related
Cooperative Property and grants occupancy rights to units therein to
stockholders through Proprietary Leases or similar arrangements.
Cooperative
Lien Search: A search for (a) federal tax liens, mechanics’
liens, lis pendens, judgments of record or otherwise against
(i) the Cooperative Corporation and (ii) the seller of the Cooperative
Unit, (b) filings of Financing Statements and (c) the deed of the
Cooperative Property into the Cooperative Corporation.
Cooperative
Loan: A Mortgage Loan that is secured by a first lien on and a
perfected security interest in Cooperative Shares and the related Proprietary
Lease granting exclusive rights to occupy the related Cooperative Unit in the
building owned by the related Cooperative Corporation.
Cooperative
Property: With respect to any Cooperative Loan, all real property
and improvements thereto and rights therein and thereto owned by a Cooperative
Corporation including without limitation the land, separate dwelling units
and
all common elements.
Cooperative
Shares: With respect to any Cooperative Loan, the shares of stock
issued by a Cooperative Corporation and allocated to a Cooperative Unit and
represented by stock certificates.
Cooperative
Unit: With respect to any Cooperative Loan, a specific unit in a
Cooperative Property.
Corporate
Trust Office: With respect to the Trustee, the designated office
of the Trustee at which at any particular time its corporate trust business
with
respect to this Agreement shall be administered, which office at the date of
the
execution of this Agreement is located at EP-MN-WS3D, 00 Xxxxxxxxxx Xxxxxx,
Xx.
Xxxx, Xxxxxxxxx 00000, Attention: Structured Finance—MASTR Alternative Loan
Trust 2007-HF1, which is the address to which appropriate notices to and
correspondence with the Trustee should be directed. With respect to
the Trust Administrator, the designated office of the Trust Administrator at
which at any particular time its corporate trust business with respect to this
Agreement shall be administered, which office at the date of execution of this
Agreement is located for certificate transfer purposes at Xxxxx Xxxxxx xxx
Xxxxxxxxx Xxxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000, Attention: Corporate
Trust Services - MALT 2007-HF1, and for all other purposes at 0000 Xxx Xxxxxxxxx
Xxxx, Xxxxxxxx, Xxxxxxxx 00000, Attention: Client Manager - MALT
2007-HF1.
Corresponding
Certificate: With respect to the REMIC I Regular Interests, the
Regular Certificate corresponding to such REMIC I Regular Interest as set forth
below:
REMIC
I Regular Interest
|
Regular
Certificate
|
REMIC
I Regular Interest LT-4PO
|
Class
4-PO Certificates
|
REMIC
I Regular Interest LT-4AXIO
|
Class
4-AX Certificates
|
Corresponding
Interest: With respect to each Certificate listed below, the
REMIC II Regular Interests listed below:
Certificate
|
REMIC
II Regular Interest
|
Class
2-A-1 Certificates
|
REMIC
II Regular Interest 2-A-1
|
Class
2-A-2 Certificates
|
REMIC
II Regular Interest 2-A-2
|
Class
4-A-2 Certificates
|
REMIC
II Regular Interest 4-A-2
|
Class
4-A-3 Certificates
|
REMIC
II Regular Interest 4-A-3
|
Covered
Loan: A Mortgage Loan categorized as Covered pursuant to Appendix
E of Standard & Poor’s Glossary.
Credit
Risk Manager: Xxxxx Fargo.
Cross-Over
Date: The Distribution Date on which the Class Principal Balances
of the Subordinate Certificates have been reduced to zero.
Custodian: Xxxxx
Fargo with respect to those Mortgage Loans for which Xxxxx Fargo is listed
under
the heading “Custodian” in the Mortgage Loan Schedule.
Cut-off
Date: September 1, 2007.
Cut-off
Date Pool Balance: $214,978,380.46.
Cut-off
Date Principal Balance: As to any Mortgage Loan, the Scheduled
Principal Balance thereof as of the close of business on the Cut-off
Date.
DBRS: Dominion
Bond Rating Service, Inc. or any successor thereto. If DBRS is
designated as a Rating Agency in the Prospectus Supplement, for purposes of
Section 11.05(b), the address for notices to DBRS shall be 00 Xxxxxxxx, Xxx
Xxxx, XX 00000, Attention: RMBS Surveillance-MASTR Alternative Loan
Trust 2007-HF1, or such other address as DBRS may hereafter furnish to each
party to this Agreement.
Debt
Service Reduction: With respect to any Mortgage Loan, a reduction
by a court of competent jurisdiction in a proceeding under the Bankruptcy Code
in the Scheduled Payment for such Mortgage Loan which became final and non
appealable, except such a reduction resulting from a Deficient Valuation or
any
reduction that results in a permanent forgiveness of principal.
Deficient
Valuation: With respect to any Mortgage Loan, a valuation by a
court of competent jurisdiction of the Mortgaged Property in an amount less
than
the then outstanding indebtedness under the Mortgage Loan, or any reduction
in
the amount of principal to be paid in connection with any Scheduled Payment
that
results in a permanent forgiveness of principal, which valuation or reduction
results from an order of such court which is final and non appealable in a
proceeding under the Bankruptcy Code.
Definitive
Certificates: Any Certificate evidenced by a Physical Certificate
and any Certificate issued in lieu of a Book-Entry Certificate pursuant to
Section 5.02(e).
Deleted
Mortgage Loan: As defined in Section 2.03
hereof.
Denomination: With
respect to each Certificate, the amount set forth on the face thereof as the
“Initial Certificate Principal Balance of this Certificate” or the Percentage
Interest appearing on the face thereof.
Depositor: Mortgage
Asset Securitization Transactions, Inc., a Delaware corporation, or its
successor in interest.
Depository: The
initial Depository shall be The Depository Trust Company, the nominee of which
is CEDE & Co., as the registered Holder of the Book-Entry
Certificates. The Depository shall at all times be a “clearing
corporation” as defined in Section 8-102(a)(5) of the Uniform Commercial
Code of the State of New York.
Depository
Participant: A broker, dealer, bank or other financial
institution or other Person for whom from time to time a Depository effects
book
entry transfers and pledges of securities deposited with the
Depository.
Determination
Date: The date on which a Servicer is required to determine the
amount it is required to advance pursuant to the applicable Servicing
Agreement.
Discount
Mortgage Loan: Any Group 4 Mortgage Loan with a Net Mortgage Rate
that is less than the related Required Coupon.
Distribution
Account: The separate Eligible Account created and maintained by
the Trust Administrator pursuant to Section 3.07 in the name of the Trustee
for the benefit of the Certificateholders and designated “U.S. Bank National
Association as Trustee, in trust for registered holders of MASTR Alternative
Loan Trust 2007-HF1 Mortgage Pass-Through Certificates,
Series 2007-HF1.” Funds in the Distribution Account shall be
held in trust for the Certificateholders for the uses and purposes set forth
in
this Agreement.
Distribution
Account Deposit Date: As to any Distribution Date, one Business
Day prior to such Distribution Date.
Distribution
Date: The 25th day of each calendar month after the initial
issuance of the Certificates, or if such 25th day is not a Business Day, the
next succeeding Business Day, commencing in October 2007.
Distribution
Date Statement: The statement delivered to the Certificateholders
pursuant to Section 4.04.
Xxxxxx: Xxxxxx
Savings and Loan Association,
F.A., and its successors and assigns, in its capacity as Servicer of the
Xxxxxx Mortgage Loans.
Xxxxxx
Mortgage Loans: The Mortgage Loans for which Xxxxxx is listed as
“Servicer” on the Mortgage Loan.
Xxxxxx
Servicing Agreement: Solely with respect to the Xxxxxx Mortgage
Loans, the Master Loan Purchase and Servicing Agreement, dated as of August
1,
2002, by and between the Transferor and Xxxxxx and any related amendments
thereto, and as the same may be amended from time to time and any assignments
and conveyances related to the Xxxxxx Mortgage Loans.
Due
Date: With respect to any Distribution Date, the first day of the
month in which the related Distribution Date occurs.
Eligible
Account: Any of (i) an account or accounts maintained with a
federal or state chartered depository institution or trust company the short
term unsecured debt obligations of which (or, in the case of a depository
institution or trust company that is the principal subsidiary of a holding
company, the debt obligations of such holding company) have the highest short
term ratings of each Rating Agency at the time any amounts are held on deposit
therein, provided, that following a downgrade, withdrawal, or suspension of
such
institution's rating above, each account shall promptly (and in any case within
not more than 30 calendar days) be moved to one or more segregated trust
accounts in the trust department of such institution, or to an account at
another institution that complies with the above requirements or (ii) a
segregated trust account or accounts maintained with the corporate trust
department of a federal depository institution or state-chartered depository
institution subject to regulations regarding fiduciary funds on deposit similar
to Title 12 of the U.S. Code of Federal Regulation Section 9.10(b),
which, in either case, has corporate trust powers and is acting in its fiduciary
capacity or (iv) any other account acceptable to each Rating
Agency. Eligible Accounts may bear interest, and may include, if
otherwise qualified under this definition, accounts maintained with the Trust
Administrator. Notwithstanding Section 11.01, this definition may be
amended to reduce the rating requirements in clause (i) above, without the
consent of any of the Certificateholders, provided that the Person requesting
such amendment obtains a letter from each Rating Agency stating that such
amendment would not result in the downgrading or withdrawal of the respective
ratings then assigned to the Certificates.
Eligible
Substitute Mortgage Loan: With respect to a Mortgage Loan
substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan
which
must, on the date of such substitution, (i) have a Scheduled Principal
Balance, after deduction of the principal portion of the Scheduled Payment
due
in the month of substitution (or, in the case of a substitution of more than
one
mortgage loan for a Deleted Mortgage Loan, an aggregate principal balance),
not
in excess of, and not more than 10% less than the Scheduled Principal Balance
of
the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower
than, and not more than 1% per annum higher than, that of the Deleted Mortgage
Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted
Mortgage Loan; (iv) have the same index and Periodic Rate Cap as that of
the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher
or lower than that of the Deleted Mortgage Loan; (v) does not permit
conversion of the related interest rate to a fixed interest rate; (vi) have
a remaining term to maturity no greater than (and not more than one year less
than that of) the Deleted Mortgage Loan; (vii) comply with each
representation and warranty set forth in Section 2.03 hereof;
(viii) be the same credit grade category as the Deleted Mortgage Loan;
(ix) have the same prepayment penalty term; and (x) not be a
Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative
Loan. Any Mortgage Loan substituted for a Discount Mortgage Loan
shall for all purposes of this Agreement be treated as having the same interest
rate as the Mortgage Loan it replaced, except that any excess interest shall
be
paid to the related Interest Only Certificate.
ERISA: The
Employee Retirement Income Security Act of 1974, as amended.
ERISA
Restricted Certificate: A Residual Certificate, a Private
Certificate or any Certificate that does not satisfy the rating requirement
of
the Underwriter’s Exemption.
Escrow
Account: The Eligible Account or Accounts established and
maintained pursuant to Section 3.08 hereof.
Excess
Loss: With respect to any Mortgage Loan, the amount of any
(i) Fraud Loss realized after the Fraud Loss Coverage Termination Date,
(ii) Special Hazard Loss realized after the Special Hazard Coverage
Termination Date or (iii) Deficient Valuation realized after the Bankruptcy
Coverage Termination Date.
Excess
Proceeds: With respect to any Liquidated Loan, the amount, if
any, by which the sum of any Liquidation Proceeds of such Mortgage Loan received
in the calendar month in which such Mortgage Loan became a Liquidated Loan,
exceeds (i) the Scheduled Principal Balance of such Liquidated Loan as of
the Due Date in the month in which such Mortgage Loan became a Liquidated Loan
plus (ii) accrued interest at the Mortgage Rate from the Due Date as to
which interest was last paid or advanced (and not reimbursed) to
Certificateholders up to the Due Date applicable to the Distribution Date
immediately following the calendar month during which such liquidation
occurred.
Exchange
Act: The Securities Exchange Act of 1934, as amended from time to
time, and the rules and regulations thereunder.
Exchangeable
Certificates and the Exchangeable REMIC Certificates: The Classes of
Certificates, each referred to in the table below, which are exchangeable for
certain other classes of certificates pursuant to Section 5.07.
Exchangeable
Certificates
|
Exchangeable
REMIC Certificates
|
Class
2-A-3
|
Class
2-A-1 and Class 2-A-2
|
Class
4-A-1
|
Class
4-A-2 and Class 4-A-3
|
Class
4-A-5
|
Class
4-A-2, Class 4-A-3 and Class 4-A-4
|
Class
4-A-6, Class 4-A-7
|
Class
4-A-2, Class 4-A-3 and Class 4-A-4
|
Exchangeable
Certificates Distribution Account: The separate Eligible Account
created and maintained by the Trust Administrator pursuant to Section 5.07
in
the name of the Trustee for the benefit of the Holders of the Exchangeable
REMIC
Certificates and the Exchangeable Certificates and designated “U.S. Bank
National Association as Trustee, in trust for registered holders of MASTR
Alternative Loan Trust 2007-HF1 Mortgage Pass Through Certificates, Series
2007-HF1.” Funds in the Exchangeable Certificates Distribution
Account shall be held in trust for the Certificateholders for the uses and
purposes set forth in this Agreement. The Exchangeable Certificates
Distribution Account may be deemed to be a sub-account of the Distribution
Account.
Fair
Market Value Call Price: With respect to each Mortgage Loan (not
including REO Properties) to be purchased pursuant to Section 10.01(a)
hereof, the fair market value of such Mortgage Loan (to be determined pursuant
to a bid procedure set forth in Section 10.01(b) hereof) plus accrued and
unpaid interest thereon at the applicable Net Mortgage Rate.
Fair
Market Value Excess: With respect to each Mortgage Loan to be
purchased pursuant to Section 10.01(a) hereof, the excess, if any, of the
Fair Market Value Call Price for such Mortgage Loan, over the Par Call Price
for
such Mortgage Loan. Any Fair Market Value Excess will not become part
of the related Group Available Funds, but shall instead be distributed directly
to the Holders of the Class AR Certificates pursuant to
Section 4.02(g) hereof.
Xxxxxx
Xxx: Xxxxxx Xxx, a federally chartered and privately owned
corporation organized and existing under the Federal National Mortgage
Association Charter Act, or any successor thereto.
FDIC: The
Federal Deposit Insurance Corporation, or any successor thereto.
Final
Certification: With respect to the Custodian, the certification
required to be delivered by such Custodian not more than 90 days after the
Closing Date to the Depositor, the Trustee and the Transferor in the form
annexed hereto as Exhibit G pursuant to Section 2.02 of this
Agreement.
Financing
Statement: A financing statement in the form of a UCC-1 or UCC-3,
as applicable, filed pursuant to the Uniform Commercial Code to perfect a
security interest in the Cooperative Shares and Pledge Instruments.
Fitch: Fitch,
Inc., or any successor thereto. If Fitch is designated as a Rating
Agency in the Prospectus Supplement, for purposes of Section 11.05(b), the
address for notices to Fitch shall be Xxx Xxxxx Xxxxxx Xxxxx, Xxx Xxxx, XX
00000, Attention: MBS Monitoring MASTR Alternative Loan Trust
2007-HF1 or such other address as Fitch may hereafter furnish to each party
to
this Agreement.
Form
8-K Disclosure Information: As defined in Section
8.12(c)(i).
Fractional
Interest: As to any Distribution Date and each Class of
Subordinate Certificates, the fraction (expressed as a percentage), the
numerator of which is the aggregate Certificate Principal Balance of such
Class and each Class subordinate to such Class, if any, and the
denominator of which is the aggregate Scheduled Principal Balance for all Loan
Groups.
Fraud
Loan: A Liquidated Loan as to which a Fraud Loss has
occurred.
Fraud
Loss Coverage Amount: As of the Closing Date, $2,149,783.80
subject to reduction from time to time by the aggregate amount of Fraud Losses
that would have been previously allocated to the Subordinate Certificates in
the
absence of the Loss Allocation Limitation since the Cut-off Date. In
addition, the Fraud Loss Coverage Amount will be reduced to zero on and after
the October 2010 Distribution Date.
Fraud
Loss Coverage Termination Date: The point in time at which the
Fraud Loss Coverage Amount is reduced to zero.
Fraud
Losses: Realized Losses on Mortgage Loans as to which a loss is
sustained by reason of a default arising from fraud, dishonesty or
misrepresentation in connection with the related Mortgage Loan, including a
loss
by reason of the denial of coverage under any related Primary Insurance Policy
because of such fraud, dishonesty or misrepresentation as reported by the
applicable Servicer to the Master Servicer.
Xxxxxxx
Mac: Xxxxxxx Mac, a corporate instrumentality of the United
States created and existing under Title III of the Emergency Home Finance Act
of
1970, as amended, or any successor thereto.
GMAC: GMAC
Mortgage, LLC, and its
successors and assigns, in its capacity as Servicer of the GMAC Mortgage
Loans.
GMAC
Mortgage Loans: The Mortgage Loans for which GMAC is listed as
“Servicer” on the Mortgage Loan.
GMAC
Servicing Agreement: Solely with respect to the GMAC Mortgage
Loans, the Servicing Agreement, dated as of November 1, 2001, as amended by
Amendment Number One, dated as of October 9, 2003, as further amended by
Amendment Number Two, dated as of July 1, 2006, each by and between the
Transferor and GMAC, and as the same may be amended from time to time and any
assignments and conveyances related to the GMAC Mortgage Loans.
Grantor
Trust: A grantor trust established pursuant to Section 5.07(a) which
will qualify as a grantor trust under subpart E of Part I of subchapter J of
the
Code.
Grantor
Trust Assets: The Uncertificated REMIC II Regular Interests.
Grantor
Trust Certificate: Any Class of Exchangeable REMIC Certificates
or Exchangeable Certificate issued by the Grantor Trust and representing
beneficial ownership of one or more Uncertificated REMIC II Regular Interests
held by such Grantor Trust.
Grantor
Trust Provisions: The grantor trust provisions under subpart E of
Part I of subchapter J of the Code.
Group 1
Available Funds: As to any Distribution Date, the sum of
(a) the aggregate amount held in the Collection Account at the close of
business on the related Servicer Remittance Date and, without duplication,
on
deposit in the Distribution Account at the close of business on the related
Distribution Account Deposit Date, attributable to the Group 1 Mortgage
Loans net of the Amount Held for Future Distribution related to the Group 1
Mortgage Loans and net of amounts (i) permitted to be withdrawn from the
Collection Account pursuant to clauses (i)-(viii) inclusive and
clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a),
(ii) after giving effect to all amounts deposited to the Distribution
Account from the Collection Account, amounts permitted to be withdrawn from
the
Distribution Account pursuant to clauses (i) through (iv) inclusive of
Section 3.10(b) each as it relates to the Group 1 Mortgage Loans and
(iii) any amounts representing Fair Market Value Excess with respect to a
Group 1 Mortgage Loan received in connection with the termination of the
Trust Fund pursuant to Section 10.01 hereof, (b) the amount of the
Advances related to the Group 1 Mortgage Loans, and (c) in connection
with Deleted Mortgage Loans in Loan Group 1, as applicable, the aggregate
of the Purchase Prices and Substitution Adjustment Amounts deposited on the
related Distribution Account Deposit Date.
Group 1
Certificates: The Class 1-A-1, Class 1-A-2,
Class AR Certificates.
Group 1
Mortgage Loans: Those Mortgage Loans identified on the Mortgage
Loan Schedule as Group 1 Mortgage Loans.
Group 1
Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Group 1 Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month preceding
the
month of such Distribution Date.
Group 1
Prepayment Charges: Any prepayment premium, penalty or charge to
which the Trust is entitled with respect to Group 1 Mortgage Loans identified
on
Schedule III attached hereto.
Group 1
Subordinate Amount: As to any Distribution Date, the excess of
(i) the aggregate Scheduled Principal Balance of the Group 1 Mortgage
Loans over (ii) the sum of the Class Principal Balances of the Group 1
Certificates.
Group 2
Available Funds: As to any Distribution Date, the sum of
(a) the aggregate amount held in the Collection Account at the close of
business on the related Servicer Remittance Date and, without duplication,
on
deposit in the Distribution Account at the close of business on the related
Distribution Account Deposit Date, attributable to the Group 2 Mortgage
Loans net of the Amount Held for Future Distribution related to the Group 2
Mortgage Loans and net of amounts (i) permitted to be withdrawn from the
Collection Account pursuant to clauses (i)-(viii) inclusive and
clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a),
(ii) after giving effect to all amounts deposited to the Distribution
Account from the Collection Account, amounts permitted to be withdrawn from
the
Distribution Account pursuant to clauses (i)-(iv) inclusive of
Section 3.10(b) each as it relates to the Group 2 Mortgage Loans and
(iii) any amounts representing Fair Market Value Excess with respect to a
Group 2 Mortgage Loan received in connection with the termination of the
Trust Fund pursuant to Section 10.01 hereof, (b) the amount of the
Advances related to the Group 2 Mortgage Loans, and (c) in connection
with Deleted Mortgage Loans in Loan Group 2, as applicable, the aggregate
of the Purchase Prices and Substitution Adjustment Amounts deposited on the
related Distribution Account Deposit Date.
Group 2
Certificates: The Class 2-A-1, Class 2-A-2 and the Class
2-A-3 Certificates.
Group
2 Exchangeable Certificates: The Class 2-A-3 Certificates.
Group 2
Mortgage Loans: Those Mortgage Loans identified on the Mortgage
Loan Schedule as Group 2 Mortgage Loans.
Group 2
Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Group 2 Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month preceding
the
month of such Distribution Date.
Group 2
Prepayment Charges: Any prepayment premium, penalty or charge to
which the Trust is entitled with respect to Group 2 Mortgage Loans identified
on
Schedule III attached hereto.
Group 2
Subordinate Amount: As to any Distribution Date, the excess of
(i) the aggregate Scheduled Principal Balance of the Group 2 Mortgage
Loans over (ii) the sum of the Class Principal Balances of the Group 2
Certificates.
Group 3
Available Funds: As to any Distribution Date, the sum of
(a) the aggregate amount held in the Collection Account at the close of
business on the related Servicer Remittance Date and, without duplication,
on
deposit in the Distribution Account at the close of business on the related
Distribution Account Deposit Date, attributable to the Group 3 Mortgage
Loans net of the Amount Held for Future Distribution related to the Group 3
Mortgage Loans and net of amounts (i) permitted to be withdrawn from the
Collection Account pursuant to clauses (i)-(viii) inclusive and
clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a),
(ii) after giving effect to all amounts deposited to the Distribution
Account from the Collection Account, amounts permitted to be withdrawn from
the
Distribution Account pursuant to clauses (i)-(iv) inclusive of
Section 3.10(b) each as it relates to the Group 3 Mortgage Loans and
(iii) any amounts representing Fair Market Value Excess with respect to a
Group 3 Mortgage Loan received in connection with the termination of the
Trust Fund pursuant to Section 10.01 hereof, (b) the amount of the
Advances related to the Group 3 Mortgage Loans, and (c) in connection
with Deleted Mortgage Loans in Loan Group 3, as applicable, the aggregate
of the Purchase Prices and Substitution Adjustment Amounts deposited on the
related Distribution Account Deposit Date.
Group 3
Certificates: The Class 3-A-1 and Class 3-A-2
Certificates.
Group 3
Mortgage Loans: Those Mortgage Loans identified on the Mortgage
Loan Schedule as Group 3 Mortgage Loans.
Group 3
Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Group 3 Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month preceding
the
month of such Distribution Date.
Group 3
Prepayment Charges: Any prepayment premium, penalty or charge to
which the Trust is entitled with respect to Group 3 Mortgage Loans identified
on
Schedule III attached hereto.
Group 3
Subordinate Amount: As to any Distribution Date, the excess of
(i) the aggregate Scheduled Principal Balance of the Group 3 Mortgage
Loans over (ii) the sum of the Class Principal Balances of the Group 3
Certificates.
Group 4
Available Funds: As to any Distribution Date, the sum of
(a) the aggregate amount held in the Collection Account at the close of
business on the related Servicer Remittance Date and, without duplication,
on
deposit in the Distribution Account at the close of business on the related
Distribution Account Deposit Date, attributable to the Group 4 Mortgage
Loans net of the Amount Held for Future Distribution related to the Group 4
Mortgage Loans and net of amounts (i) permitted to be withdrawn from the
Collection Account pursuant to clauses (i)-(viii) inclusive and
clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a),
(ii) after giving effect to all amounts deposited to the Distribution
Account from the Collection Account, amounts permitted to be withdrawn from
the
Distribution Account pursuant to clauses (i)-(iv) inclusive of
Section 3.10(b) each as it relates to the Group 4 Mortgage Loans and
(iii) any amounts representing Fair Market Value Excess with respect to a
Group 4 Mortgage Loan received in connection with the termination of the
Trust Fund pursuant to Section 10.01 hereof, (b) the amount of the
Advances related to the Group 4 Mortgage Loans, and (c) in connection
with Deleted Mortgage Loans in Loan Group 4, as applicable, the aggregate
of the Purchase Prices and Substitution Adjustment Amounts deposited on the
related Distribution Account Deposit Date.
Group 4
Certificates: The Class 4-A-1, Class 4-A-2, Class 4-A-3, Class
4-A-4, Class 4-A-5, Class 4-A-6, Class 4-A-7, Class 4-AX and Class 4-PO
Certificates.
Group
4 Exchangeable Certificates: The Class 4-A-1, Class 4-A-5, Class
4-A-6 and Class 4-A-7 Certificates.
Group 4
Mortgage Loans: Those Mortgage Loans identified on the Mortgage
Loan Schedule as Group 4 Mortgage Loans.
Group 4
Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Group 4 Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month preceding
the
month of such Distribution Date.
Group 4
Prepayment Charges: Any prepayment premium, penalty or charge to
which the Trust is entitled with respect to Group 4 Mortgage Loans identified
on
Schedule III attached hereto.
Group 4
Subordinate Amount: As to any Distribution Date, the excess of
(i) the aggregate Scheduled Principal Balance of the Group 4 Mortgage
Loans over (ii) the sum of the Class Principal Balances of the Group 4
Certificates.
Group 5
Available Funds: As to any Distribution Date, the sum of
(a) the aggregate amount held in the Collection Account at the close of
business on the related Servicer Remittance Date and, without duplication,
on
deposit in the Distribution Account at the close of business on the related
Distribution Account Deposit Date, attributable to the Group 5 Mortgage
Loans net of the Amount Held for Future Distribution related to the Group 5
Mortgage Loans and net of amounts (i) permitted to be withdrawn from the
Collection Account pursuant to clauses (i)-(viii) inclusive and
clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a),
(ii) after giving effect to all amounts deposited to the Distribution
Account from the Collection Account, amounts permitted to be withdrawn from
the
Distribution Account pursuant to clauses (i)-(iv) inclusive of
Section 3.10(b) each as it relates to the Group 5 Mortgage Loans and
(iii) any amounts representing Fair Market Value Excess with respect to a
Group 5 Mortgage Loan received in connection with the termination of the
Trust Fund pursuant to Section 10.01 hereof, (b) the amount of the
Advances related to the Group 5 Mortgage Loans, and (c) in connection
with Deleted Mortgage Loans in Loan Group 5, as applicable, the aggregate
of the Purchase Prices and Substitution Adjustment Amounts deposited on the
related Distribution Account Deposit Date.
Group 5
Certificates: The Class 5-A-1 Certificates
Group 5
Mortgage Loans: Those Mortgage Loans identified on the Mortgage
Loan Schedule as Group 5 Mortgage Loans.
Group
5 Pool Principal Balance: As to any Distribution Date, the
aggregate of the Scheduled Principal Balances of the Group 5 Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month preceding
the
month of such Distribution Date.
Group 5
Prepayment Charges: Any prepayment premium, penalty or charge to
which the Trust is entitled with respect to Group 5 Mortgage Loans identified
on
Schedule III attached hereto.
Group 5
Subordinate Amount: As to any Distribution Date, the excess of
(i) the aggregate Scheduled Principal Balance of the Group 5 Mortgage
Loans over (ii) the sum of the Class Principal Balances of the Group 5
Certificates.
Group
Available Funds: Any of the Group 1 Available Funds,
Group 2 Available Funds, Group 3 Available Funds, Group 4
Available Funds and Group 5 Available Funds, as applicable.
Group
Pool Principal Balance: Any of the Group 1 Pool Principal
Balance, Group 2 Pool Principal Balance, Group 3 Pool Principal
Balance, Group 4 Pool Principal Balance and Group 5 Pool Principal
Balance, as applicable.
Group
Subordinate Amount: Each of the Group 1 Subordinate Amount,
Group 2 Subordinate Amount, Group 3 Subordinate Amount, Group 4
Subordinate Amount and Group 5 Subordinate Amount, as
applicable.
High
Cost Loan: A Mortgage Loan classified as (a) a “high cost”
loan under the Home Ownership and Equity Protection Act of 1994, (b) a
“high cost home,” “threshold,” “covered,” (excluding New Jersey “Covered Home
Loans” as that term is defined in clause (1) of the definition of that term
in the New Jersey Home Ownership Security Act of 2002), “high risk home,”
“predatory” or similar loan under any other applicable state, federal or local
law (or a similarly classified loan using different terminology under a law
imposing heightened regulatory scrutiny or additional legal liability for
residential mortgage loans having high interest rates, points and/or fees)
or
(c) a Mortgage Loan categorized as High Cost pursuant to Appendix E of
Standard and Poor’s Glossary.
Home
Loan: A Mortgage Loan categorized as Home Loan pursuant to
Appendix E of Standard & Poor’s Glossary.
Independent: When
used with respect to any accountants, a Person who is “independent” within the
meaning of Rule 2-01(B) of the Commission’s Regulation
S-X. Independent means when used with respect to any other Person, a
Person who (a) is in fact independent of another specified Person and any
affiliate of such other Person, (b) does not have any material direct or
indirect financial interest in such other Person or any affiliate of such other
Person, (c) is not connected with such other Person or any affiliate of such
other Person as an officer, employee, promoter, underwriter, trust
administrator, trustee, partner, director or Person performing similar functions
and (d) is not a member of the immediate family of a Person defined clause
(b)
or (c) above.
Indirect
Participant: A broker, dealer, bank or other financial
institution or other Person that clears through or maintains a custodial
relationship with a Depository Participant.
Initial
Certification: With respect to the Custodian, the certification
required to be executed by such Custodian and delivered on the Closing Date
to
the Depositor and the Trustee in the form annexed hereto as
Exhibit F pursuant to Section 2.02 of this
Agreement.
Insolvency
Proceeding: With respect to any Person: (i) any
case, action, or proceeding with respect to such Person before any court or
other governmental authority relating to bankruptcy, reorganization, insolvency,
liquidation, receivership, dissolution, winding up, or relief of debtors; or
(ii) any general assignment for the benefit of creditors, composition,
marshaling of assets for creditors, or other, similar arrangement in respect
of
the creditors generally of such Person or any substantial portion of such
Person’s creditors, in any case undertaken under federal, state or foreign law,
including the Bankruptcy Code.
Insurance
Policy: With respect to any Mortgage Loan included in the Trust
Fund, any insurance policy, including all riders and endorsements thereto in
effect, including any replacement policy or policies for any Insurance
Policies.
Insurance
Proceeds: Proceeds paid by an insurer pursuant to any Insurance
Policy, in each case other than any amount included in such Insurance Proceeds
in respect of Insured Expenses, to the extent such proceeds are not applied
to
the restoration of the related Mortgaged Property or released to the borrower
in
accordance with the applicable Servicer’s normal servicing
procedures.
Insured
Expenses: Expenses covered by an Insurance Policy or any other
insurance policy with respect to the Mortgage Loans.
Interest
Accrual Period: With respect to each Class of Certificates, REMIC
I Regular Interest and REMIC II Regular Interest and any Distribution Date,
the
period from and including the first day of the month immediately preceding
the
month in which such Distribution Date occurs, commencing September 1, 2007,
to
and including the last day of such immediately preceding month, on the basis
of
a 360-day year consisting of twelve 30-day months.
Interest
Only Certificates: The Class 4-A-3 Certificates, the Class 4-A-7
Certificates and the Class 4-AX Certificates.
Issuing
Entity: As defined in Section 2.01(c).
Latest
Possible Maturity Date: The Distribution Date following the
scheduled maturity date of the Mortgage Loan having the latest scheduled
maturity date as of the Cut-off Date.
Liquidated
Loan: With respect to any Distribution Date, a defaulted Mortgage
Loan (including any REO Property) which was liquidated in the calendar month
preceding the month of such Distribution Date and as to which the applicable
Servicer or the Master Servicer, as the case may be, has determined (in
accordance with the applicable Servicing Agreement and this Agreement) that
it
has received all amounts it expects to receive in connection with the
liquidation of such Mortgage Loan, including the final disposition of an REO
Property.
Liquidation
Proceeds: Amounts, including Insurance Proceeds, received in
connection with the partial or complete liquidation of defaulted Mortgage Loans,
whether through trustee’s sale, foreclosure sale or otherwise or amounts
received in connection with any condemnation or partial release of a Mortgaged
Property and any other proceeds received in connection with an REO Property,
less the sum of related unreimbursed Servicing Fees, Servicing Advances and
Advances.
Loan
Group: Each of Loan Group 1, Loan Group 2, Loan
Group 3, Loan Group 4 and Loan Group 5, as applicable.
Loan
Group 1: The Group 1 Mortgage Loans.
Loan
Group 2: The Group 2 Mortgage Loans.
Loan
Group 3: The Group 3 Mortgage Loans.
Loan
Group 4: The Group 4 Mortgage Loans.
Loan
Group 5: The Group 5 Mortgage Loans.
Loan
Seller: With respect to any Mortgage Loan, the entity that sold
such Mortgage Loan to the Transferor.
Loan-to-Value
Ratio: With respect to any Mortgage Loan and as to any date of
determination, the fraction (expressed as a percentage) the numerator of which
is the principal balance of the related Mortgage Loan at such date of
determination and the denominator of which is the Appraised Value of the related
Mortgaged Property. For purposes of representation (xxxii) on
Schedule II, the Loan-to-Value Ratio will be the loan-to-value ratio
calculated in accordance with applicable state laws regarding primary mortgage
insurance.
Loss
Allocation Limitation: As defined in Section 4.03(c)
hereof.
Lost
Mortgage Note: Any Mortgage Note the original of which was
permanently lost or destroyed and has not been replaced.
Majority
in Interest: As to any Class of Regular Certificates, the Holders
of Certificates of such Class evidencing, in the aggregate, at least 51% of
the Percentage Interests evidenced by all Certificates of such
Class.
Master
Servicer: Xxxxx Fargo, in its capacity as Master Servicer
hereunder.
Master
Servicer Event of Termination: As defined in Section 7.01
hereof.
Master
Servicing Compensation: The Master Servicer will be entitled to
compensation for its activities under this Agreement equal to (i) the investment
earnings on amounts on deposit in the Collection Account and (ii) interest
collections received on the related Mortgage Loan calculated on the Scheduled
Principal Balance of such Mortgage Loan at the Master Servicing Fee
Rate.
Master
Servicing Fee Rate: With respect to each Mortgage Loan, 0.0075%
per annum.
Master
Servicing Officer: Any officer of the Master Servicer involved
in, or responsible for, the administration and master servicing of the Mortgage
Loans.
MERS: As
defined in Section 2.01.
Mid
America: Mid America Bank,
fsb, a federal savings bank, and its successors and assigns, in its
capacity as Servicer of the Mid America Mortgage Loans.
Mid
America Mortgage Loans: The Mortgage Loans for which Mid America
is listed as “Servicer” on the Mortgage Loan.
Mid
America Servicing Agreement: Solely with respect to the Mid
America Mortgage Loans, the Master Loan Purchase and Servicing Agreement, dated
as of September 1, 2002, as amended and restated to and including December
1,
2005, by and between the Transferor and Mid America and any related amendments
thereto, and as the same may be amended from time to time and any assignments
and conveyances related to the Mid America Mortgage Loans.
Moody’s: Xxxxx’x
Investors Service, Inc., or any successor thereto. If Xxxxx’x is
designated as a Rating Agency in the Prospectus Supplement, for purposes of
Section 11.05(b), the address for notices to Moody’s shall be Xxxxx’x
Investors Service, Inc., 00 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000,
Attention: Residential Mortgage Monitoring Group, or such other
address as Moody’s may hereafter furnish to each party to this
Agreement.
Mortgage: The
mortgage, deed of trust or other instrument creating a first lien on an estate
in fee simple or leasehold interest in real property securing a Mortgage
Note.
Mortgage
File: The mortgage documents listed in Section 2.01 hereof
pertaining to a particular Mortgage Loan and any additional documents delivered
to the Custodian to be added to the Mortgage File pursuant to this
Agreement.
Mortgage
Loan Purchase Agreement: The Mortgage Loan Purchase Agreement,
dated as of September 1, 2007, between the Transferor and the
Depositor.
Mortgage
Loan Schedule: The list of Mortgage Loans (as from time to time
amended by the Custodian to reflect the addition of Eligible Substitute Mortgage
Loans and the deletion of Deleted Mortgage Loans pursuant to the provisions
of
this Agreement) transferred to the Trustee as part of the Trust Fund and from
time to time subject to this Agreement, attached hereto as
Schedule I, setting forth the following information with respect to
each Mortgage Loan: (1) the Mortgage Loan identifying number;
(2) the Mortgagor’s first and last name; (3) the street address of the
Mortgaged Property including the city, state and zip code; (4) the original
principal balance of the Mortgage Loan; (5) the Scheduled Principal Balance
of the Mortgage Loan as of the close of business on the Cut-off Date;
(6) the unpaid principal balance of the Mortgage Loan as of the close of
business on the Cut-off Date; (7) the last scheduled Due Date on which a
Scheduled Payment was applied to the Scheduled Principal Balance; (8) the
last Due Date on which a Scheduled Payment was actually applied to the unpaid
principal balance; (9) the Mortgage Rate in effect immediately following
origination; (10) the Mortgage Rate in effect immediately following the
Cut-off Date (if different from (9)); (11) the amount of the Scheduled
Payment at origination; (12) the amount of the Scheduled Payment as of the
Cut-off Date (if different from (11)); (13) a code indicating whether the
Mortgaged Property is owner occupied, a second home or an investor property;
(14) a code indicating whether the Mortgaged Property is a single family
residence, a two-family residence, a three-family residence, a four-family
residence, a planned-unit development, a condominium or a Cooperative Unit;
(15) a code indicating the loan purpose (i.e., purchase, rate/term
refinance, cash-out refinance); (16) the stated maturity date;
(17) the original months to maturity; (18) the remaining months to
maturity from the Cut-off Date based on the original amortization Schedule
and,
if different, the remaining months to maturity expressed in the same manner
but
based on the actual amortization schedule; (19) the origination date of the
Mortgage Loan; (20) the Loan-to-Value Ratio at origination; (21) the
date on which the first Scheduled Payment was due on the Mortgage Loan after
the
origination date; (22) a code indicating the documentation style of the
Mortgage Loan; (23) a code indicating if the Mortgage Loan is subject to a
Primary Insurance Policy and, if so, the name of the Qualified Mortgage Insurer,
the certificate number and the coverage amount of the Primary Insurance Policy;
(24) the Servicing Fee Rate, and if such rate is subject to change, the
date such rate will change and the Servicing Fee Rate applicable thereafter;
(25) a code indicating whether the Mortgage Loan is subject to a prepayment
penalty and, if so, the term of such prepayment penalty; (26) the credit
score (or mortgage score) of the Mortgagor; (27) the debt-to-income ratio
of the Mortgage Loan; (28) the next Adjustment Date; (29) the lifetime
mortgage rate cap; (30) the Periodic Rate Cap; (31) the maximum
interest rate; (32) the minimum interest rate; (33) a code indicating
if the Mortgage Loan is subject to a “lender-paid” Primary Insurance Policy and,
if so, the name of the Qualified Mortgage Insurer, the certificate number and
the coverage amount of the Primary Insurance Policy, and the Lender-Paid
Mortgage Insurance Rate; (34) the date on which the Mortgage Loan was
transferred to the Transferor; (35) a code indicating the Loan Group such
Mortgage Loan is included in; (36) the initial Servicer; (37) a code
indicating the originator of the Mortgage Loan; (38) a code indicating
whether the Mortgage Loan is a Cooperative Loan; (39) a code indicating the
Custodian; and (40) a code indicating whether such Mortgage Loan is a Home
Loan.
Mortgage
Loans: Such of the mortgage loans and cooperative loans
transferred and assigned to the Trustee pursuant to the provisions hereof as
from time to time are held as a part of the Trust Fund (including any REO
Property), the mortgage loans so held being identified on the Mortgage Loan
Schedule, notwithstanding foreclosure or other acquisition of title of the
related Mortgaged Property. With respect to each Mortgage Loan that
is a Cooperative Loan, if any, “Mortgage Loan” shall include, but not be limited
to, the related Mortgage Note, Security Agreement, Assignment of Proprietary
Lease, Recognition Agreement, Cooperative Shares and Proprietary Lease and,
with
respect to each Mortgage Loan other than a Cooperative Loan, “Mortgage Loan”
shall include, but not be limited to the related Mortgage and the related
Mortgage Note.
Mortgage
Note: The original executed note or other evidence of the
indebtedness of a Mortgagor under a Mortgage Loan.
Mortgage
Rate: The annual rate of interest borne by a Mortgage Note from
time to time.
Mortgaged
Property: The underlying property securing a Mortgage Loan or,
with respect to a Cooperative Loan, the related Cooperative Shares and
Proprietary Lease.
Mortgagor: The
obligor(s) on a Mortgage Note.
Net
Mortgage Rate: As to each Mortgage Loan, and at any time, the per
annum rate equal to the Mortgage Rate less the related Servicing Fee Rate,
Master Servicing Fee Rate and any lender paid mortgage insurance premiums for
such Mortgage Loan (expressed as a per annum percentage of its Scheduled
Principal Balance). For purposes of determining whether any Eligible
Substitute Mortgage Loan is a Discount Mortgage Loan or a Non-Discount Mortgage
Loan and for purposes of calculating the applicable PO Percentage and applicable
Non-PO Percentage, each Eligible Substitute Mortgage Loan shall be deemed to
have a Net Mortgage Rate equal to the Net Mortgage Rate of the Deleted Mortgage
Loan for which it is substituted.
Net
Prepayment Interest Shortfalls: As to any Distribution Date, the
amount by which the aggregate of Prepayment Interest Shortfalls for that Loan
Group during the related Prepayment Period exceeds the amount of Compensating
Interest available to such Loan Group for such Distribution Date.
Non-Discount
Mortgage Loan: Any Group 4 Mortgage Loan with a Net Mortgage Rate
that is greater than or equal to the related Required Coupon.
Non-PO
Percentage: As to any Mortgage Loan in Loan Group 4 that is a
Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator
of
which is the Net Mortgage Rate of such Discount Mortgage Loan and the
denominator of which is the related Required Coupon. As to any
Mortgage Loan in Loan Group 4 that is a Non-Discount Mortgage Loan,
100%. As to any Mortgage Loan in Loan Groups 1, 2, 3 or 5,
100%.
Non-PO
Recoveries: With respect to any Distribution Date, an amount that
is equal to the excess, if any, of (A) the amount of Recoveries on the Mortgage
Loans for such Distribution Date, over (B) the amount of PO Recoveries for
such
Distribution Date.
Nonrecoverable
Advance: Any portion of an Advance previously made or proposed to
be made by the applicable Servicer or the Master Servicer, as the case may
be,
that, in the good faith judgment of the applicable Servicer or the Master
Servicer, will not be ultimately recoverable by the applicable Servicer or
the
Master Servicer from the related Mortgagor, related Liquidation Proceeds or
otherwise.
Notice
of Final Distribution: The notice to be provided pursuant to
Section 10.02 to the effect that final distribution on any of the
Certificates shall be made only upon presentation and surrender
thereof.
Notional
Amount: For any Distribution Date, with respect to the Class 4-AX
Certificates, the product of: (x) the aggregate Scheduled Principal
Balance, as of the first day of the month immediately prior to the month in
which the related Distribution Date occurs (after taking in account scheduled
payments of principal on that date and unscheduled payments of principal
distributed on the immediately preceding Distribution Date), or for the initial
Distribution Date, as of the Cut-off Date, of the Non-Discount Loans; and
(y) a fraction, the numerator of which is the weighted average of the
related Stripped Interest Rates for the Non-Discount Loans and the denominator
of which is the Required Coupon. For any Distribution Date, with
respect to the Class 4-A-3 Certificates, the product of (x) the aggregate
Certificate Balance of the Class 4-A-2 Certificates immediately prior to such
Distribution Date and (y) a fraction, the numerator of which is 0.500% and
the
denominator of which is the 7.000%. For any Distribution Date, with
respect to the Class 4-A-7 Certificates, the product of (x) the aggregate
Certificate Balance of the Class 4-A-2 and Class 4-A-4 Certificates immediately
prior to such Distribution Date and (y) a fraction, the numerator of which
is
0.500% and the denominator of which is the 7.000%. For federal income
tax purposes, the Class 4-AX Certificates will have a Notional Amount equal
to
the Uncertificated Notional Amount of REMIC I Regular Interest
LT-4AXIO. The Class 4-A-3 Interests will have a Notional Amount equal
to the Uncertificated Notional Amount Balance of REMIC II Regular Interest
4-A-3. The Class 4-A-7 Certificates will have a Notional Amount equal
to the aggregate Uncertificated Principal Balance of the REMIC II Regular
Interest 4-A-2 and REMIC II Regular Interest 4-A-4A immediately prior to such
Distribution Date.
Offered
Certificates: All Classes of Certificates other than the Private
Certificates.
Officer’s
Certificate: A certificate (i) signed by the Chairman of the
Board, the Vice Chairman of the Board, the President, a Managing Director,
a
Vice President (however denominated), an Assistant Vice President, the
Treasurer, the Secretary, or one of the Assistant Treasurers or Assistant
Secretaries of the Depositor or the Master Servicer, or (ii) if provided
for in this Agreement, signed by a Master Servicing Officer, as the case may
be,
and delivered to the Depositor, the Trustee and the Trust Administrator, as
the
case may be, as required by this Agreement.
Opinion
of Counsel: A written opinion of counsel, who may be counsel for
the Depositor or the Master Servicer, including in-house counsel, reasonably
acceptable to the Trustee or the Trust Administrator, as applicable;
provided, however, that, with respect to the interpretation or
application of the REMIC Provisions and the Grantor Trust Provisions such
counsel must (i) in fact be independent of the Depositor and the Master
Servicer, (ii) not have any direct financial interest in the Depositor or
the Master Servicer or in any affiliate of either, and (iii) not be
connected with the Depositor or the Master Servicer as an officer, employee,
promoter, underwriter, trustee, partner, director or person performing similar
functions.
Optional
Termination: The termination of a portion of the Trust created
hereunder in connection with the purchase of the Mortgage Loans pursuant to
Section 10.01(a) hereof.
Order: A
final nonappealable order of a court or other body exercising jurisdiction
in an
Insolvency Proceeding by or against the Trust, to the effect that a Holder
or
the Trust Administrator is required to return or repay all or a portion of
a
Preference Amount.
Original
Subordinate Principal Balance: The aggregate of the Class
Principal Balances of the Subordinate Certificates as of the Closing
Date.
OTS: The
Office of Thrift Supervision.
Outstanding: With
respect to the Certificates as of any date of determination, all Certificates
theretofore executed and authenticated under this Agreement except:
(i)
Certificates theretofore canceled by the Trust Administrator or delivered to
the
Trust Administrator for cancellation; and
(ii)
Certificates in exchange for which or in lieu of which other Certificates have
been executed and delivered by the Trust Administrator pursuant to this
Agreement.
Outstanding
Mortgage Loan: As of any Due Date, a Mortgage Loan with a
Scheduled Principal Balance greater than zero that was not the subject of a
Principal Prepayment in Full prior to such Due Date and that did not become
a
Liquidated Loan prior to such Due Date.
Ownership
Interest: As to any Residual Certificate, any ownership interest
in such Certificate including any interest in such Certificate as the Holder
thereof and any other interest therein, whether direct or indirect, legal or
beneficial.
Par
Call Price: With respect to each Mortgage Loan (not including REO
Properties) to be purchased pursuant to Section 10.01(a) hereof, 100% of
the unpaid principal balance of such Mortgage Loan, plus accrued and unpaid
interest thereon at the applicable Net Mortgage Rate.
Pass-Through
Rate: The Pass-Through Rate for the Class 1-A-1, Class 1-A-2 and
Class AR Certificates for each Distribution Date will be a per annum rate equal
to the weighted average of the Net Mortgage Rates on the Group 1 Mortgage Loans,
weighted on the basis of the outstanding Scheduled Principal Balances of the
Group 1 Mortgage Loans, as of the first day of the month immediately prior
to
the month in which the relevant Distribution Date occurs (after taking into
account scheduled payments of principal on that date and unscheduled payments
of
principal distributed on the Distribution Date immediately preceding such
Distribution Date). For federal income tax purposes, the Class 1-A
Certificates will accrue interest at a per annum rate equal to the REMIC I
Remittance Rate for REMIC I Regular Interest LT-ZZZ1.
The
Pass-Through Rate for the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates
for each Distribution Date will be a per annum rate equal to the weighted
average of the Net Mortgage Rates on the Group 2 Mortgage Loans, weighted on
the
basis of the outstanding Scheduled Principal Balances of the Group 2 Mortgage
Loans, as of the first day of the month immediately prior to the month in which
the relevant Distribution Date occurs (after taking into account scheduled
payments of principal on that date and unscheduled payments of principal
distributed on the Distribution Date immediately preceding such Distribution
Date). For federal income tax purposes, the Class 2-A-1 Certificates
and Class 2-A-2 Certificates will accrue interest at a per annum rate equal
to
their respective REMIC II Remittance Rates. The Class 2-A-3 Certificates do
not
have a pass-through rate but shall represent an undivided beneficial ownership
interest in the right to receive REMIC II Regular Interests 2-A-1 and 2-A-2
at
their respective REMIC II Remittance Rates.
The
Pass-Through Rate for the Class 3-A-1 and Class 3-A-2 Certificates for each
Distribution Date will be a per annum rate equal to the weighted average of
the
Net Mortgage Rates on the Group 3 Mortgage Loans, weighted on the basis of
the
outstanding Scheduled Principal Balances of the Group 3 Mortgage Loans, as
of
the first day of the month immediately prior to the month in which the relevant
Distribution Date occurs (after taking into account scheduled payments of
principal on that date and unscheduled payments of principal distributed on
the
Distribution Date immediately preceding such Distribution Date). For
federal income tax purposes, the Class 3-A Certificates will accrue interest
at
a per annum rate equal to the REMIC I Remittance Rate for REMIC I Regular
Interest LT-ZZZ3.
The
Pass-Through Rate for the Class 4-A-1, Class 4-A-3, Class 4-A-4, Class 4-A-5
and
Class 4-A-7 Certificates will be a per annum rate equal to
7.000%. For federal income tax purposes, (i) the Class 4-A-1
Certificates do not have a pass-through rate but shall represent an undivided
beneficial ownership interest in the right to receive REMIC II Regular Interests
4-A-2 and 4-A-3 at their respective REMIC II Remittance Rates, (ii) the Class
4-A-3 Certificates will accrue interest at a per annum rate equal to its
respective REMIC II Remittance Rate, (iii) the Class 4-A-4 Certificates will
accrue interest at a per annum rate equal to the aggregate of the REMIC II
Remittance Rates on REMIC II Regular Interests 4-A-4A and 4-A-4B, (iv) the
Class
4-A-5 Certificates do not have a pass-through rate but shall represent an
undivided beneficial ownership interest in the right to receive REMIC II Regular
Interests 4-A-2, 4-A-3, 4-A-4A and 4-A-4B at their respective REMIC II
Remittance Rates and (iv) the Class 4-A-7 Certificates do not have a
pass-through rate but shall represent an undivided beneficial ownership interest
in the right to receive REMIC II Regular Interests 4-A-3 and 4-A-4B at their
respective REMIC II Remittance Rates.
The
Pass-Through Rate for the Class 4-A-2 and Class 4-A-6 Certificates will be
a per
annum rate equal to 6.500%. For federal income tax purposes, (i) the
Class 4-A-2 Certificates will accrue interest at a per annum rate equal to
its
respective REMIC II Remittance Rate and (ii) the Class 4-A-6 Certificates do
not
have a pass-through rate but shall represent an undivided beneficial ownership
interest in the right to receive REMIC II Regular Interests 4-A-2 and 4-A-4A
at
their respective REMIC II Remittance Rates.
The
Pass-Through Rate for the Class 4-AX Certificates will be a per annum rate
equal
to 7.000%. For federal income tax purposes, the Class 4-AX
Certificates will be entitled to 100% of amounts distributed on REMIC I Regular
Interest LT-4AXIO.
The
Pass-Through Rate for the Class 5-A-1 Certificates will be a per annum rate
equal to the weighted average of the Net Mortgage Rates on the Group 5 Mortgage
Loans, weighted on the basis of the outstanding Scheduled Principal Balances
of
the Group 5 Mortgage Loans, as of the first day of the month immediately prior
to the month in which the relevant Distribution Date occurs (after taking into
account scheduled payments of principal on that date and unscheduled payments
of
principal distributed on the Distribution Date immediately preceding such
Distribution Date). For federal income tax purposes, the Class 5-A
Certificates will accrue interest at a per annum rate equal to the REMIC I
Remittance Rate for REMIC I Regular Interest LT-ZZZ5.
The
Pass
Through Rate for each of the Subordinate Certificates for each Distribution
Date
will be a per annum rate equal to the weighted average (weighted on the basis
of
the portion of the aggregate Certificate Principal Balance of the Subordinate
Certificates attributable to the Non-PO Percentage of the Scheduled Principal
Balance of the Mortgage Loans in each Loan Group as of the first day of the
month immediately prior to the month in which the relevant Distribution Date
occurs (after taking into account scheduled payments of principal on that date
and unscheduled payments of principal distributed on the Distribution Date
immediately preceding such Distribution Date)) of (i) the weighted average
of
the Net Mortgage Rates on the Group 1 Mortgage Loans, weighted on the basis
of
the outstanding Scheduled Principal Balances of the Group 1 Mortgage Loans,
as
of the first day of the month immediately prior to the month in which the
relevant Distribution Date occurs (after taking into account scheduled payments
of principal on that date and unscheduled payments of principal distributed
on
the Distribution Date immediately preceding such Distribution Date); (ii) the
weighted average of the Net Mortgage Rates on the Group 2 Mortgage Loans,
weighted on the basis of the outstanding Scheduled Principal Balances of the
Group 2 Mortgage Loans, as of the first day of the month immediately prior
to
the month in which the relevant Distribution Date occurs (after taking into
account scheduled payments of principal on that date and unscheduled payments
of
principal distributed on the Distribution Date immediately preceding such
Distribution Date); (iii) the weighted average of the Net Mortgage Rates on
the
Group 3 Mortgage Loans, weighted on the basis of the outstanding Scheduled
Principal Balances of the Group 3 Mortgage Loans, as of the first day of the
month immediately prior to the month in which the relevant Distribution Date
occurs (after taking into account scheduled payments of principal on that date
and unscheduled payments of principal distributed on the Distribution Date
immediately preceding such Distribution Date); (iv) the Required Coupon with
respect to Loan Group 4; and (v) the weighted average of the Net Mortgage Rates
on the Group 5 Mortgage Loans, weighted on the basis of the outstanding
Scheduled Principal Balances of the Group 5 Mortgage Loans, as of the first
day
of the month immediately prior to the month in which the relevant Distribution
Date occurs (after taking into account scheduled payments of principal on that
date and unscheduled payments of principal distributed on the Distribution
Date
immediately preceding such Distribution Date). For federal income tax
purposes, the Subordinate Certificates will accrue interest at a per annum
rate
equal to the weighted average of the REMIC I Remittance Rate on REMIC I Regular
Interest LT-1A, REMIC I Regular Interest LT-2A, REMIC I Regular Interest LT-3A,
REMIC I Regular Interest LT-4A and REMIC I Regular Interest LT-5A, weighted
on
the basis of the Uncertificated Balance of each such REMIC I Regular
Interest.
The
Class
PO Certificates shall have a Pass-Through Rate of 0.000% per annum and shall
not
be entitled to any distributions of interest. For federal income tax
purposes, the Class PO Certificates will accrue interest at a per annum rate
equal to 0.000%.
The
Class
P Certificates will not accrue interest and therefore will not have a
Pass-Through Rate. The Class P Certificates will be entitled to the
Prepayment Charges attributable to their respective Loan Groups.
PCAOB: The
Public Company Accounting Oversight Board.
Percentage
Interest: As to any Certificate, the percentage interest
evidenced thereby in distributions required to be made on the related Class,
such percentage interest being set forth on the face thereof or equal to the
percentage obtained by dividing the Denomination of such Certificate by the
aggregate of the Denominations of all Certificates of the same
Class.
Periodic
Rate Cap: As to each Mortgage Loan and the related Mortgage Note,
the provisions therein that limit permissible increases and decreases in the
interest rate of any Mortgage Loan on any Adjustment Date.
Permitted
Investments: At any time, any one or more of the following
obligations and securities:
(a) obligations
of the United States or any agency thereof, provided such obligations are
backed by the full faith and credit of the United States;
(b) general
obligations of or obligations guaranteed by any state of the United States
or
the District of Columbia receiving the highest long term debt rating of each
Rating Agency, or such lower rating as will not result in the downgrading or
withdrawal of the ratings then assigned to the Certificates by either Rating
Agency (as confirmed in writing by the applicable Rating Agency);
(c) commercial
or finance company paper which is then receiving the highest commercial or
finance company paper rating of each Rating Agency, or such lower rating as
will
not result in the downgrading or withdrawal of the ratings then assigned to
the
Certificates by either Rating Agency (as confirmed in writing by the applicable
Rating Agency);
(d) certificates
of deposit, demand or time deposits, or bankers’ acceptances issued by any
depository institution or trust company incorporated under the laws of the
United States or of any state thereof and subject to supervision and examination
by federal and/or state banking authorities, provided that the commercial
paper and/or long term unsecured debt obligations of such depository institution
or trust company are then rated in one of the two highest long term and the
highest short term ratings of each Rating Agency for such securities, or such
lower ratings as will not result in the downgrading or withdrawal of the rating
then assigned to the Certificates by either Rating Agency (as confirmed in
writing by the applicable Rating Agency);
(e) demand
or
time deposits or certificates of deposit issued by any bank or trust company
or
savings institution to the extent that such deposits are fully insured by the
FDIC and are then rated in the highest long term and the highest short term
ratings of each Rating Agency for such securities, or such lower ratings as
will
not result in the downgrading or withdrawal of the ratings then assigned to
the
Certificates by either Rating Agency (as confirmed in writing by the applicable
Rating Agency);
(f) guaranteed
reinvestment agreements issued by any bank, insurance company or other
corporation containing, at the time of the issuance of such agreements, such
terms and conditions as will not result in the downgrading or withdrawal of
the
rating then assigned to the Certificates by either Rating Agency (as confirmed
in writing by the applicable Rating Agency);
(g) repurchase
obligations with respect to any security described in clauses (a) and (b)
above, in either case entered into with a depository institution or trust
company (acting as principal) described in clause (d) above;
(h) securities
(other than stripped bonds, stripped coupons or instruments sold at a purchase
price in excess of 115% of the face amount thereof) bearing interest or sold
at
a discount issued by any corporation incorporated under the laws of the United
States or any state thereof which, at the time of such investment, have the
highest rating of each Rating Agency, or such lower rating as will not result
in
the downgrading or withdrawal of the rating then assigned to the Certificates
by
either Rating Agency (as confirmed in writing by the applicable Rating
Agency);
(i) units
of
a taxable money market portfolio having the highest rating assigned by each
Rating Agency and restricted to obligations issued or guaranteed by the United
States of America or entities whose obligations are backed by the full faith
and
credit of the United States of America and repurchase agreements collateralized
by such obligations;
(j) any
mutual fund, money market fund, common trust fund or other pooled investment
vehicle, the assets of which are limited to instruments that otherwise would
constitute Permitted Investments hereunder, including any such fund that is
managed by the Trust Administrator or Master Servicer or any affiliate of the
Trust Administrator or Master Servicer or for which the Trust Administrator
or
Master Servicer or any affiliate of the Trust Administrator or Master Servicer
acts as an adviser as long as such fund is rated in at least the highest rating
category by each Rating Agency (if so rated by such Rating Agency;
provided, however, if S&P is a Rating Agency, then such mutual
fund, money market fund, common trust fund or other pooled investment vehicle
shall have been rated by S&P); and
(k) such
other investments bearing interest or sold at a discount acceptable to each
Rating Agency as will not result in the downgrading or withdrawal of the rating
then assigned to the Certificates by either Rating Agency, as evidenced by
a
signed writing delivered by each Rating Agency;
provided,
that no such instrument shall be a Permitted Investment if such instrument
evidences the right to receive interest-only payments with respect to the
obligations underlying such instrument.
Permitted
Transferee: Any Person other than (i) the United States, any
State or political subdivision thereof, or any agency or instrumentality of
any
of the foregoing, (ii) a foreign government, international organization or
any agency or instrumentality of either of the foregoing, (iii) an
organization (except certain farmers’ cooperatives described in Section 521
of the Code) which is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by Section 511 of the Code on unrelated business
taxable income) on any excess inclusions (as defined in Section 860E(c)(l)
of the Code) with respect to any Residual Certificate, (iv) rural electric
and telephone cooperatives described in Section 1381(a)(2)(C) of the Code,
(v) a Person that is not a citizen or resident of the United States, a
corporation, partnership (except as provided in applicable Treasury
Regulations), or other entity created or organized in or under the laws of
the
United States or any State thereof or the District of Columbia, an estate whose
income is subject to United States federal income tax regardless of its source
or a trust if a court within the United States is able to exercise primary
supervision over the administration of the Trust and one or more Persons
described in this clause (v) have the authority to control all substantial
decisions of the Trust (or, to the extent provided in applicable Treasury
Regulations, certain trusts in existence on August 20, 1996 which are
eligible to elect to be treated as United States persons) unless such Person
has
furnished the transferor and the Trust Administrator with a duly completed
Internal Revenue Service Form W-8ECI or any applicable successor form,
(vi) any Person with respect to whom income on any Residual Certificate is
attributable to a foreign permanent establishment or fixed base, within the
meaning of an applicable income tax treaty, of such Person or any other Person
and (vii) any other Person so designated by the Depositor based upon an
Opinion of Counsel that the Transfer of an Ownership Interest in a Residual
Certificate to such Person may cause any REMIC hereunder to fail to qualify
as a
REMIC at any time that the Certificates are outstanding. The terms
“United States,” “State” and “international organization” shall have the
meanings set forth in Section 7701 of the Code or successor
provisions. A corporation will not be treated as an instrumentality
of the United States or of any State or political subdivision thereof for these
purposes if all of its activities are subject to tax and, with the exception
of
Xxxxxxx Mac, a majority of its board of directors is not selected by such
government unit.
Person: Any
individual, corporation, partnership, limited liability company, joint venture,
association, joint stock company, trust, unincorporated organization or
government, or any agency or political subdivision thereof.
Physical
Certificate: The Class B-6, Class B-7, Class B-8, Class P and
Residual Certificates.
Pledge
Instruments: With respect to each Cooperative Loan, the Stock
Power, the Assignment of Proprietary Lease and the Security
Agreement.
PO
Deferred Amount: As to any Distribution Date on or prior to the
Cross-Over Date and with respect to the Class 4-PO Certificates, the sum of
(i)
the sum for all of the Discount Mortgage Loans in Loan Group 4 of the applicable
PO Percentage for each such Mortgage Loan of the principal portion of each
Realized Loss, other than an Excess Loss, on such Discount Mortgage Loan to
be
allocated to the Class 4-PO Certificates on such Distribution Date and (ii)
all
amounts previously allocated to the Class 4-PO Certificates in respect of such
losses and not distributed to the Class 4-PO Certificates on prior Distribution
Dates.
PO
Principal Distribution Amount: As to any Distribution Date and
with respect to the Class 4-PO Certificates, the sum for all of the Discount
Mortgage Loans in Loan Group 4 of the applicable PO Percentage of (a) the
principal portion of each Scheduled Payment (without giving effect, prior to
the
Bankruptcy Coverage Termination Date, to any reductions thereof caused by any
Debt Service Reductions or Deficient Valuations) due on such Mortgage Loan
on
the related Due Date, (b) the Scheduled Principal Balance of such Mortgage
Loan
if it was repurchased by the Transferor pursuant to this Agreement as of such
Distribution Date, (c) the Substitution Adjustment Amount in connection with
any
Deleted Mortgage Loan from Loan Group 4 received with respect to such
Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable
to recoveries of principal of such Mortgage Loan, to the extent such Mortgage
Loan is not yet a Liquidated Loan, received during the calendar month preceding
the month of such Distribution Date, (e) to the extent such Mortgage Loan became
a Liquidated Loan during the month preceding the calendar month of such
Distribution Date, the lesser of (i) the Scheduled Principal Balance of such
Mortgage Loan and (ii) the amount of Liquidation Proceeds allocable to principal
received during the month preceding the month of such Distribution Date with
respect to such Mortgage Loan and (f) the sum of (i) any Principal Prepayments
in full with respect to such Mortgage Loan received during the related
Prepayment Period and (ii) all partial Principal Prepayments with respect to
such Mortgage Loan applied during the related Prepayment Period;
provided, however, that if a Bankruptcy Loss that is an Excess
Loss is sustained with respect to a Discount Mortgage Loan in Loan Group 4
that
is not a Liquidated Loan, the PO Principal Distribution Amount with respect
to
the Class 4-PO Certificates will be reduced on the related Distribution Date
by
the applicable PO Percentage of the principal portion of such Bankruptcy
Loss.
PO
Percentage: As to any Discount Mortgage Loan, 100% minus
the Non-PO Percentage for such Discount Mortgage Loan. As to any
Non-Discount Mortgage Loan, 0%. As to any Mortgage Loan in Loan
Groups 1, 2, 3 or 5, 0%.
PO
Recoveries: With respect to any Distribution Date, an amount
equal to the lesser of (a) the related Amount Available for PO Recoveries and
(b) the related PO Deferred Amount.
PO
Recovery Excess: With respect to any Distribution Date, the excess, if any
of (a) the related Amount Available for PO Recoveries over (b) the related
PO
Deferred Amount.
Pool
Principal Balance: As to any Distribution Date, the aggregate of
the Scheduled Principal Balances of the Mortgage Loans that were Outstanding
Mortgage Loans on the Due Date in the month preceding the month of such
Distribution Date.
Prepayment
Interest Excess: As to any Principal Prepayment received or, in
the case of partial Principal Prepayments, applied by the applicable Servicer
or
the Master Servicer from the first day through the fifteenth day of any calendar
month (other than the calendar month in which the Cut-off Date occurs), all
amounts paid by the related Mortgagor in respect of interest on such Principal
Prepayment.
Prepayment
Interest Shortfall: As to any Distribution Date, Mortgage Loan
and Principal Prepayment received or, in the case of partial Principal
Prepayments, applied, during the applicable Prepayment Period, the amount,
if
any, by which one month’s interest at the related Net Mortgage Rate on such
Principal Prepayment exceeds the amount of interest at the Net Mortgage Rate
paid in connection with such Principal Prepayment.
Prepayment
Period: As to any Distribution Date, with respect to any
voluntary Principal Prepayment of a Mortgage Loan, either (i) the calendar
month
preceding the month in which such Distribution Date occurs or (ii) the period
commencing on the 16th day of
the
calendar month preceding the related Distribution Date (and in the case of
the
first Distribution Date, commencing on September 1, 2007) and ending on the
15th day of
the
calendar month in which such Distribution Date occurs, as
applicable.
Primary
Insurance Policy: Each policy of primary mortgage guaranty
insurance or any replacement policy with respect to any Mortgage
Loan.
Principal
Only Certificates: The Class 4-PO Certificates.
Principal
Prepayment: Any payment of principal by a Mortgagor on a Mortgage
Loan that is received in advance of its scheduled Due Date, excluding any
prepayment penalty or premium thereon, and is not accompanied by an amount
representing scheduled interest due on any date or dates in any month or months
subsequent to the month of prepayment. Partial Principal Prepayments
will be applied by the applicable Servicers in accordance with the terms of
the
related Servicing Agreements and in accordance with the terms of the related
Mortgage Note, and to the extent the Mortgage Note does not provide otherwise,
shall be applied in the Prepayment Period preceding the receipt
thereof.
Principal
Prepayment in Full: Any Principal Prepayment made by a Mortgagor
of the entire principal balance of a Mortgage Loan.
Private
Certificates: The Class B-6, Class B-7, Class B-8 and Class P
Certificates.
Pro
Rata Share: As to any Distribution Date and any Mortgage Loan
(i) with respect to any Senior Certificate for which such Mortgage Loan is
not in the Related Loan Group, zero, and (ii) with respect to each other
Class of Senior Certificates as to which such Mortgage Loan is in the Related
Loan Group, and each Class of Subordinate Certificates, the ratio that the
amount calculated with respect to such Distribution Date for such
Class pursuant to clause (i) of the definition of Accrued Certificate
Interest (without giving effect to any reduction of such amount pursuant to
Section 4.02(c)) bears to the amount calculated with respect to such
Distribution Date for all such Classes of Senior Certificates and for all
Classes of Subordinate Certificates pursuant to clause (i) of the
definition of Accrued Certificate Interest (without giving effect to any
reduction of such amount pursuant to Section 4.02(c)); provided,
however, that with respect to the calculation in (ii) above, such
calculation with respect to the Subordinate Certificates shall be made as though
each Class of Subordinate Certificates had a Class Principal Balance equal
to
its pro rata share (based on Class Principal Balance) of the Group
Subordinate Amount for the Group which includes such Mortgage Loan, and
provided, further, that, in the event the Pro Rata Share for any
Class of Senior Certificates as so calculated exceeds the portion of the Accrued
Certificate Interest for such Class in accordance with clause (i) of the
definition thereof without adjustment for Section 4.02(c) other than
reduction for Net Prepayment Interest Shortfalls, the amount of such excess
shall be allocated pro rata to all other Classes of Senior Certificates
based on Accrued Certificate Interest pursuant to such clause (i) without
adjustment pursuant to Section 4.02(c), and shall be treated as the Pro
Rata Share of each such Class.
Proprietary
Lease: The lease on a Cooperative Unit evidencing the possessory
interest of the owner of the Cooperative Shares in such Cooperative
Unit.
Prospectus
Supplement: The Prospectus Supplement dated October 9, 2007
relating to the Offered Certificates.
Protected
Account: An account established and maintained for the benefit of
Certificateholders by each Servicer with respect to the related Mortgage Loans
and with respect to REO Property pursuant to the respective Servicing
Agreements. Each Protected Account is required to be an Eligible
Account.
Purchase
Price: With respect to any Mortgage Loan required to be purchased
by the Transferor pursuant to Section 2.02 or 2.03 hereof, an amount equal
to (A) the sum of (i) 100% of the unpaid principal balance of the
Mortgage Loan on the date of such purchase, (ii) accrued and unpaid
interest thereon at the applicable Mortgage Rate from the date through which
interest was last paid by the Mortgagor or the applicable Servicer or the Master
Servicer, as the case may be, made an Advance in respect thereof (which was
not
reimbursed) to the Due Date in the month in which the Purchase Price is to
be
distributed to Certificateholders, (iii) in the event that such Mortgage
Loan is repurchased by the Transferor due to a breach of the representations
and
warranties listed in clauses (xiii) or (xiv) of
Schedule II to this Agreement, any costs and damages incurred by the
Trust in connection with a violation of a predatory or abusive lending law
with
respect to such Mortgage Loan, less (B) any Amounts Held for Future
Distribution related to such Mortgage Loan with respect to the Distribution
Date
in the month in which the Purchase Price is to be distributed to
Certificateholders.
Qualified
Mortgage Insurer: Any mortgage insurer that is Xxxxxx Xxx and
Xxxxxxx Mac approved.
Rating
Agency: Each of Fitch and S&P. If any such
organization or a successor is no longer in existence, “Rating Agency” shall be
such nationally recognized statistical rating organization, or other comparable
Person, as is designated by the Depositor, notice of which designation shall
be
given to the Trustee and the Trust Administrator. References herein
to a given rating category of a Rating Agency shall mean such rating category
without giving effect to any modifiers.
Realized
Loss: With respect to each Liquidated Loan, an amount (not less
than zero or more than the Scheduled Principal Balance of the Mortgage Loan)
as
of the date of such liquidation, equal to (i) the unpaid principal balance
of the Liquidated Loan as of the date of such liquidation, plus
(ii) interest at the Net Mortgage Rate from the Due Date as to which
interest was last paid or advanced (and not reimbursed) to Certificateholders
up
to the Due Date in the month in which Liquidation Proceeds are required to
be
distributed on the Scheduled Principal Balance of such Liquidated Loan from
time
to time, minus (iii) the Liquidation Proceeds, if any, received during the
month in which such liquidation occurred, to the extent applied as recoveries
of
interest at the Net Mortgage Rate and to principal of the Liquidated
Loan. With respect to each Mortgage Loan that has become the subject
of a Deficient Valuation, if the principal amount due under the related Mortgage
Note has been reduced, the difference between the principal balance of the
Mortgage Loan outstanding immediately prior to such Deficient Valuation and
the
principal balance of the Mortgage Loan as reduced by the Deficient
Valuation.
Recognition
Agreement: An Agreement among a Cooperative Corporation, a lender
and a Mortgagor with respect to a Cooperative Loan whereby such parties
(i) acknowledge that such lender may make, or intends to make, such
Cooperative Loan and (ii) make certain agreements with respect to such
Cooperative Loan.
Record
Date: With respect to any Distribution Date and any Class of
Certificates, the last Business Day of the month immediately preceding the
month
in which the related Distribution Date occurs.
Recovery: With
respect to any Distribution Date and any Mortgage Loan, an amount, net of any
reimbursable expenses, received in respect of principal on such Mortgage Loan
during the related Prepayment Period which has previously been allocated as
a
Realized Loss to a Class of Certificates.
Refinancing
Mortgage Loan: Any Mortgage Loan originated in connection with
the refinancing of an existing mortgage loan.
Regular
Certificates: All Classes of Certificates, other than the
Residual Certificates, the Exchangeable Certificates and the Class P
Certificates.
Regular
Interest: A “regular interest” in a REMIC within the meaning of Section
860G(a)(1) of the Code.
Regulation
AB: Subpart 229.1100 – Asset Backed Securities (Regulation AB),
17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and
subject to such clarification and interpretation as have been provided by the
Commission in the adopting release (Asset-Backed Securities, Securities Act
Release No. 33-8518, 70 Fed Reg. 1,506 – 1,631 (Jan. 7, 2005)) or by the staff
of the Commission, or as may be provided by the Commission or its staff from
time to time.
Relevant
Servicing Criteria: The Servicing Criteria applicable to each
party, as set forth on Exhibit X attached hereto. Multiple parties
can have responsibility for the same Relevant Servicing
Criteria. With respect to a Servicing Function Participant engaged by
any of the Master Servicer, the Trust Administrator or each Servicer, the term
Relevant Servicing Criteria may refer to a portion of the Relevant Servicing
Criteria applicable to such parties.
Relief
Act: The Servicemembers Civil Relief Act, as amended, or any
comparable state or local statute (including the comparable provisions under
the
California Military and Veterans Code, as amended).
Relief
Act Reduction: With respect to any Distribution Date and any
Mortgage Loan as to which there has been a reduction in the amount of interest
collectible thereon for the most recently ended calendar month as a result
of
the application of the Relief Act, the amount, if any, by which
(i) interest collectible on such Mortgage Loan for the most recently ended
calendar month is less than (ii) interest accrued thereon for such month
pursuant to the Mortgage Note.
REMIC: A
“real estate mortgage investment conduit” within the meaning of
Section 860D of the Code.
REMIC
I: The segregated pool of assets subject hereto, constituting the
primary trust created hereby and to be administered hereunder, with respect
to
which a REMIC election is to be made, consisting of: (i) the Mortgage Loan
Purchase Agreement, the Servicing Agreements solely as each such Servicing
Agreement relates to the Mortgage Loans being serviced by the related Servicer
(other than those rights under the Servicing Agreements that do not relate
to
the servicing of the Mortgage Loans (including, without limitation, the
representations and warranties made by the applicable Servicers (with respect
to
the Mortgage Loans sold to the Transferor) and the document delivery
requirements of such Servicer and the remedies (including indemnification)
available for breaches thereto); (ii) the Mortgage Loans and all interest and
principal received on or with respect thereto after the Cut-off Date to the
extent not applied in computing the Cut-off Date Principal Balance thereof;
(iii) the Collection Account and the Distribution Account and all amounts
deposited therein pursuant to the applicable provisions of this Agreement;
(iv)
property that secured a Mortgage Loan and has been acquired by foreclosure,
deed-in-lieu of foreclosure or otherwise; and (v) all proceeds of the
conversion, voluntary or involuntary, of any of the foregoing.
REMIC
I Regular Interests: The REMIC I Regular Interests, as defined in the
Preliminary Statement.
REMIC
I Remittance Rate: With respect to REMIC I Regular Interest LT-1A and REMIC
I Regular Interest LT-ZZZ1, a per annum rate equal to the weighted average
of
the Net Mortgage Rates on the Group 1 Mortgage Loans, weighted on the basis
of
the outstanding Schedule Principal Balances of the Group 1 Mortgage Loans,
as of
the first day of the month immediately prior to the month in which the relevant
Distribution Date occurs (after taking into account scheduled payments of
principal on that date). With respect to REMIC I Regular Interest
LT-2A and REMIC I Regular Interest LT-ZZZ2, a per annum rate equal to the
weighted average of the Net Mortgage Rates on the Group 2 Mortgage Loans,
weighted on the basis of the outstanding Schedule Principal Balances of the
Group 2 Mortgage Loans, as of the first day of the month immediately prior
to
the month in which the relevant Distribution Date occurs (after taking into
account scheduled payments of principal on that date). With respect
to REMIC I Regular Interest LT-3A and REMIC I Regular Interest LT-ZZZ3, a per
annum rate equal to the weighted average of the Net Mortgage Rates on the Group
3 Mortgage Loans, weighted on the basis of the outstanding Schedule Principal
Balances of the Group 3 Mortgage Loans, as of the first day of the month
immediately prior to the month in which the relevant Distribution Date occurs
(after taking into account scheduled payments of principal on that
date). With respect to REMIC I Regular Interest LT-4A, REMIC I
Regular Interest LT-4A3IO, REMIC I Regular Interest LT-4A4 and REMIC I Regular
Interest LT-ZZZ4, 7.000% per annum. With respect to REMIC I Regular Interest
LT-5A and REMIC I Regular Interest LT-ZZZ5, a per annum rate equal to the
weighted average of the Net Mortgage Rates on the Group 5 Mortgage Loans,
weighted on the basis of the outstanding Schedule Principal Balances of the
Group 5 Mortgage Loans, as of the first day of the month immediately prior
to
the month in which the relevant Distribution Date occurs (after taking into
account scheduled payments of principal on that date). With respect
to REMIC I Regular Interest LT-4PO, 0.000% per annum. With respect to
REMIC I Regular Interest LT-4AXIO, a per annum rate equal to the weighted
average of the Net Mortgage Rates on the Non-Discount Loans, weighted on the
basis of the outstanding Schedule Principal Balances of the Non-Discount Loans,
as of the first day of the month immediately prior to the month in which the
relevant Distribution Date occurs (after taking into account scheduled payments
of principal on that date) minus a per annum rate equal to 7.000%.
REMIC
I Subordinated Balance Ratio: The ratio among the Uncertificated
Balances of each of REMIC I Regular Interest LT-1A, REMIC I Regular Interest
LT-2A, REMIC I Regular Interest LT-3A, REMIC I Regular Interest LT-4A and REMIC
I Regular Interest LT-5A, equal to the ratio among, with respect to each such
REMIC I Regular Interest, the excess of (x) the aggregate principal balance
of
the Non-PO Percentage of the Mortgage Loans in the related Loan Group as of
the
first day of the month immediately prior to the month in which the relevant
distribution date occurs (after taking into account scheduled payments of
principal on that date and unscheduled payments of principal distributed on
he
immediately preceding distribution date) over (y) the aggregate current
Certificate Principal Balance the Class A Certificates in the related Loan
Group.
REMIC
II Regular Interests: The REMIC II Regular Interests, as defined in the
Preliminary Statement.
REMIC
II Remittance Rate: With respect to REMIC II Regular Interest 2-A-1 and
REMIC II Regular Interest 2-A-2, a per annum rate equal to the REMIC I
Remittance Rate for REMIC I Regular Interest LT-ZZZ2. With respect to
REMIC II Regular Interest 4-A-2, 6.50% per annum. With respect to
REMIC II Regular Interest 4-A-3, 0.50% per annum. With respect to
REMIC II Regular Interest 4-A-4A, 6.50% per annum. With respect to
REMIC II Regular Interest 4-A-4B, 0.50% per annum.
REMIC
Provisions: Provisions of the federal income tax law relating to
real estate mortgage investment conduits, which appear at Sections 860A through
860G of Subchapter M of Chapter 1 of the Code, and related provisions, and
regulations promulgated thereunder, as the foregoing may be in effect from
time
to time as well as provisions of applicable state laws.
REO
Property: A Mortgaged Property acquired by the Trust Fund through
foreclosure, deed-in-lieu of foreclosure, repossession or otherwise in
connection with a defaulted Mortgage Loan.
Reportable
Event: As defined in Section 8.12.
Reporting
Servicer: As defined in Section 8.12(b)(i).
Required
Coupon: 7.000% per annum.
Required
Insurance Policy: With respect to any Mortgage Loan, any
insurance policy that is required to be maintained from time to time under
the
applicable Servicing Agreement.
Residual
Certificates: The Class AR Certificates.
Residual
Interest: The sole class of “residual interests” in a REMIC
within the meaning of Section 860G(a)(2) of the Code.
Responsible
Officer: When used with respect to the Trustee or the Trust
Administrator, any Director, any Managing Director, any Associate, any Vice
President, any Assistant Vice President, the Secretary, any Assistant Secretary,
any Trust Officer or any other officer of the Trustee or Trust Administrator,
as
applicable, customarily performing functions similar to those performed by
any
of the above designated officers having direct responsibility for the
administration of this Agreement and also to whom, with respect to a particular
matter, such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject.
Restricted
Classes: As defined in Section 4.02(d).
S&P: Standard
and Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc., or
any successor thereto. If S&P is designated as a Rating Agency in
the Prospectus Supplement, for purposes of Section 11.05(b) the
address for notices to S&P shall be Standard and Poor’s Ratings Services, a
division of The XxXxxx-Xxxx Companies, Inc., 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx
Xxxx 00000, Attention: Residential Mortgage Monitoring Group, or such
other address as S&P may hereafter furnish to each party to this
Agreement.
Xxxxxxxx-Xxxxx
Act: The Xxxxxxxx-Xxxxx Act of 2002 and the rules and regulations
of the Commission promulgated thereunder (including any interpretations thereof
by the Commission’s staff).
Xxxxxxxx-Xxxxx
Certification: A written certification signed by an officer of the Master
Servicer that complies with (i) the Xxxxxxxx-Xxxxx Act, and (ii) Exchange Act
Rules 13a-14(d) and 15d-14(d), as in effect from time to time; provided that
if,
after the Closing Date (a) the Xxxxxxxx-Xxxxx Act is amended, (b) the Rules
referred to in clause (ii) are modified or superseded by any subsequent
statement, rule or regulation of the Commission or any statement of a division
thereof, or (c) any future releases, rules and regulations are published by
the
Commission from time to time pursuant to the Xxxxxxxx-Xxxxx Act, which in any
such case affects the form or substance of the required certification and
results in the required certification being, in the reasonable judgment of
the
Master Servicer, materially more onerous that then form of the required
certification as of the Closing Date, the Xxxxxxxx-Xxxxx Certification shall
be
as agreed to by the Master Servicer and the Depositor following a negotiation
in
good faith to determine how to comply with any such new
requirements.
Scheduled
Payment: The scheduled monthly payment on a Mortgage Loan due on
any Due Date allocable to principal and/or interest on such Mortgage Loan which,
unless otherwise specified herein, shall give effect to any related Debt Service
Reduction and any Deficient Valuation that affects the amount of the monthly
payment due on such Mortgage Loan.
Scheduled
Principal Balance: As to any Mortgage Loan and any Distribution
Date, the unpaid principal balance of such Mortgage Loan as of the Due Date
in
the month preceding the month in which such Distribution Date occurs, as
specified in the amortization Schedule at the time relating thereto (before
any
adjustment to such amortization Schedule by reason of any moratorium or similar
waiver or grace period) after giving effect to any previous partial Principal
Prepayments and Liquidation Proceeds allocable to principal received during
the
Prepayment Period for the prior Distribution Date (other than with respect
to
any Liquidated Loan), and to the payment of principal due on such Due Date
and
irrespective of any delinquency in payment by the related
Mortgagor. The Scheduled Principal Balance of any Mortgage Loan that
has been prepaid in full or has become a Liquidated Loan during the related
Prepayment Period shall be zero.
Securities
Act: The Securities Act of 1933, as amended.
Security
Agreement: With respect to a Cooperative Loan, the agreement or
mortgage creating a security interest in favor of the originator of the
Cooperative Loan in the related Cooperative Shares.
Senior
Certificates: The Group 1 Certificates, Group 2 Certificates,
Group 3 Certificates, Group 4 Certificates and Group 5
Certificates.
Senior
Final Distribution Date: The Distribution Date on which the
respective Class Principal Balances of the Senior Certificates (other than
the
Principal Only Certificates and the Interest Only Certificates) have each been
reduced to zero.
Senior
Optimal Principal Amount: For any Distribution Date and any Loan
Group, the sum for all Mortgage Loans in such Loan Group of (i) the Senior
Percentage of the applicable Non-PO Percentage related to such Group of
(a) the principal portion of each Scheduled Payment (without giving effect,
prior to the Bankruptcy Coverage Termination Date, to any reductions thereof
caused by any Debt Service Reductions or Deficient Valuations) due on each
such
Mortgage Loan on the related Due Date, (b) the principal portion of the
Purchase Price of each such Mortgage Loan to the extent it was repurchased
by
the Transferor pursuant to this Agreement as of such Distribution Date,
(c) the Substitution Adjustment Amount in connection with any Deleted
Mortgage Loan related to such Loan received with respect to such Distribution
Date and (d) any Liquidation Proceeds (including Insurance Proceeds) allocable
to recoveries of principal of any Mortgage Loan related to such Loan Group
that
is not yet a Liquidated Loan, received during the calendar month preceding
the
month of such Distribution Date, (ii) with respect to each such Mortgage
Loan in such Loan Group that became a Liquidated Loan during the calendar month
preceding the month of such Distribution Date, the lesser of (a) the Senior
Percentage of the applicable Non-PO Percentage related to such Group of the
Scheduled Principal Balance of such Mortgage Loan, and (b) either
(A) the Senior Prepayment Percentage related to such Group of the amount of
the Liquidation Proceeds allocable to principal received with respect to such
Mortgage Loan, or (B) if an Excess Loss was sustained with respect to such
Liquidated Loan during such prior calendar month, the Senior Percentage of
the
applicable Non-PO Percentage related to such Group of the amount of the
Liquidation Proceeds allocable to principal received with respect to such
Mortgage Loan, (iii) the Senior Prepayment Percentage related to such Group
of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in
such Loan Group received during the related Prepayment Period and (b) all
partial Principal Prepayments of Mortgage Loans in such Loan Group and applied
during the related Prepayment Period and (iv) with respect to any
Distribution Date prior to the Cross-Over Date only, the Senior Prepayment
Percentage related to such Group of the Recoveries for such Loan Group received
during the related Prepayment Period; provided, however, that, if
a Bankruptcy Loss that is an Excess Loss is sustained with respect to such
Mortgage Loan that is not a Liquidated Loan, the Senior Optimal Principal Amount
will be reduced on the related Distribution Date by the Senior Percentage of
the
applicable Non-PO Percentage of the principal portion of such Bankruptcy
Loss.
Senior
Percentage: With respect to any Certificate Group and any
Distribution Date, the lesser of (i) 100% and (ii) the percentage
obtained by dividing (a) the aggregate Certificate Principal Balances of
all the Senior Certificates in the related Certificate Group immediately
preceding such Distribution Date by (b) the sum of (1) the aggregate
Certificate Principal Balances of all the Senior Certificates in the related
Certificate Group and (2) the Group Subordinate Amount for the related
Certificate Group, in both cases immediately preceding such Distribution
Date.
Senior
Prepayment Percentage: With respect to any Certificate Group and
any Distribution Date, the percentages (not exceeding 100%) set forth in the
following table:
Distribution
Date Occurring
|
Senior
Prepayment Percentage
|
October
2007 through September 2014
|
100%
|
October
2014 through September 2015
|
Senior
Percentage of such Certificate Group plus 70% of the related Subordinate
Percentage
|
October
2015 through September 2016
|
Senior
Percentage of such Certificate Group plus 60% of the related Subordinate
Percentage
|
October
2016 through September 2017
|
Senior
Percentage of such Certificate Group plus 40% of the related Subordinate
Percentage
|
October
2017 through September 2018
|
Senior
Percentage of such Certificate Group plus 20% of the related Subordinate
Percentage
|
October
2018 and thereafter
|
Senior
Percentage of such Certificate
Group
|
provided,
however, (i) if on any Distribution Date the Senior Percentage for
such Certificate Group exceeds the initial Senior Percentage for such
Certificate Group, the Senior Prepayment Percentage for all Groups for such
Distribution Date will equal 100%, (ii) if on any Distribution Date on or
before the Distribution Date in September 2010, prior to giving effect to any
distributions on such Distribution Date, the Aggregate Subordinate Percentage
for such Distribution Date is greater than or equal to twice the initial
Aggregate Subordinate Percentage, then the Senior Prepayment Percentage for
such
Certificate Group for such Distribution Date will equal the Senior Percentage
for such Certificate Group plus 50% of the Subordinate Percentage for such
Certificate Group and (iii) if on any Distribution Date on or after the
Distribution Date in October 2010, prior to giving effect to any distributions
on such Distribution Date, the Aggregate Subordinate Percentage for such
Distribution Date is greater than or equal to twice the initial Aggregate
Subordinate Percentage, then the Senior Prepayment Percentage for such
Certificate Group for such Distribution Date will equal the Senior Percentage
for such Certificate Group. Notwithstanding the foregoing, no
decrease in the Senior Prepayment Percentage for a Certificate Group will occur
unless both of the Senior Step Down Conditions are satisfied.
Senior
Step Down Conditions: As of the last day of the month preceding
the applicable Distribution Date as to which any decrease in the Senior
Prepayment Percentage applies, (i) the aggregate Scheduled Principal
Balance of all Mortgage Loans delinquent 60 days or more (including
delinquent Mortgage Loans in bankruptcy, and all Mortgage Loans in foreclosure
and REO Properties), as a percentage of the aggregate Class Principal Balance
of
the Subordinate Certificates on such Distribution Date, does not equal or exceed
50% and (ii) cumulative Realized Losses with respect to the Mortgage Loans
do not exceed (a) with respect to the Distribution Dates occurring between
and including October 2007 and September 2010, 20% of the Original Subordinate
Principal Balance, (b) with respect to the Distribution Date on or after
October 2010, 30% of the Original Subordinate Principal Balance.
Servicer: Each
of Bank of America, Cenlar, Chevy Chase, Downey, GMAC, Mid America, Standard
and
Xxxxx Fargo.
Servicer
Remittance Date: With respect to any Servicer and any
Distribution Date, generally the 18th day of each calendar month, or if such
18th day is not a Business Day, either the immediately preceding Business Day
or
the immediately succeeding Business Day, as specified in the related Servicing
Agreement.
Servicing
Advances: All customary, reasonable and necessary “out of pocket”
costs and expenses incurred in the performance by the Master Servicer of
its
master servicing obligations or the applicable Servicer, as the case may be,
of
its servicing obligations, including, but not limited to, the cost of
(i) the preservation, restoration and protection of a Mortgaged Property,
(ii) any expenses reimbursable to the Master Servicer or the applicable
Servicer, as the case may be, pursuant to Section 3.11 and any enforcement
or judicial proceedings, including foreclosures, (iii) the management and
liquidation of any REO Property and (iv) compliance with the obligations
under Section 3.09.
Servicing
Agreements:
a) the
Bank of America Servicing Agreement;
b) the
Cenlar Servicing Agreement;
c) the
Chevy Chase Servicing Agreement;
d) the
Xxxxxx Servicing Agreement;
e) the
GMAC Servicing Agreement;
f) the
Mid
America Servicing Agreement;
g) the
Standard Servicing Agreement; and
h) the
Xxxxx Fargo Servicing Agreement.
Servicing
Criteria: The “servicing criteria” set forth in Item 1122(d) of
Regulation AB, as such may be amended from time to time.
Servicing
Fee: As to each Mortgage Loan and any Distribution Date, an
amount payable out of each full payment of interest received on such Mortgage
Loan and equal to one twelfth of the Servicing Fee Rate multiplied by the
Scheduled Principal Balance of such Mortgage Loan as of the Due Date in the
month immediately preceding the month in which such Distribution Date occurs
(after giving effect to any Scheduled Payments due on such Mortgage Loan on
such
Due Date), subject to reduction for any Compensating Interest payments required
to be made by the applicable Servicer.
Servicing
Fee Rate: With respect to each Mortgage Loan, the per annum rate
set forth on the Mortgage Loan Schedule.
Servicing
Function Participant: Any Sub-Servicer or Subcontractor of a Servicer, the
Master Servicer, the Custodian or the Securities Administrator,
respectively.
Similar
Law: As defined in Section 5.02(b) hereof.
Special
Hazard Coverage Termination Date: The point in time at which the
Special Hazard Loss Coverage Amount is reduced to zero.
Special
Hazard Loss: Any Realized Loss as reported by the applicable
Servicer to the Master Servicer suffered by a Mortgaged Property on account
of
direct physical loss but not including (i) any loss of a type covered by a
hazard insurance policy or a flood insurance policy required to be maintained
with respect to such Mortgaged Property pursuant to Section 3.11 to the
extent of the amount of such loss covered thereby, or (ii) any loss caused
by or resulting from:
(a) normal
wear and tear;
(b) fraud,
conversion or other dishonest act on the part of the Trustee, the Trust
Administrator, any Servicer, the Master Servicer or any of their agents or
employees (without regard to any portion of the loss not covered by any errors
and omissions policy);
(c) errors
in
design, faulty workmanship or faulty materials, unless the collapse of the
property or a part thereof ensues and then only for the ensuing
loss;
(d) nuclear
or chemical reaction or nuclear radiation or radioactive or chemical
contamination, all whether controlled or uncontrolled, and whether such loss
be
direct or indirect, proximate or remote or be in whole or in part caused by,
contributed to or aggravated by a peril covered by the definition of the term
“Special Hazard Loss”;
(e) hostile
or warlike action in time of peace and war, including action in hindering,
combating or defending against an actual, impending or expected
attack:
(i) by
any
government or sovereign power, de jure or de facto, or by any authority
maintaining or using military, naval or air forces; or
(ii) by
military, naval or air forces; or
(iii) by
an
agent of any such government, power, authority or forces;
(f) any
weapon of war employing nuclear fission, fusion or other radioactive force,
whether in time of peace or war; or
(g) insurrection,
rebellion, revolution, civil war, usurped power or action taken by governmental
authority in hindering, combating or defending against such an occurrence,
seizure or destruction under quarantine or customs regulations, confiscation
by
order of any government or public authority or risks of contraband or illegal
transportation or trade.
Special
Hazard Loss Coverage Amount: With respect to any Distribution
Date, $1,461,852.99 less (i) the aggregate amount of Special Hazard Losses
that would have been previously allocated to the Subordinate Certificates in
the
absence of the Loss Allocation Limitation and (ii) the Adjustment Amount as
of the most recent anniversary of the Cut-off Date. As of any
Distribution Date after the Cross-Over Date, the Special Hazard Loss Coverage
Amount for such Subordinate Certificates shall be zero. All principal
balances for the purpose of this definition will be calculated as of the first
day of the calendar month preceding the month of such Distribution Date after
giving effect to Scheduled Payments on the Mortgage Loans then due, whether
or
not paid.
Special
Hazard Mortgage Loan: A Liquidated Loan as to which a Special
Hazard Loss has occurred.
Standard:
Standard Mortgage Corporation,
and its successors and assigns, in its capacity as Servicer of the Standard
Mortgage Loans.
Standard
Mortgage Loans: The Mortgage Loans for which Standard is listed
as “Servicer” on the Mortgage Loan.
Standard
Servicing Agreement: Solely with respect to the Standard Mortgage
Loans, the Master Mortgage Loan Sale and Servicing Agreement, dated as of March
1, 2005, between the Transferor and Standard, and as the same may be amended
from time to time and any assignments and conveyances related to the Standard
Mortgage Loans.
Standard
& Poor’s Glossary: The Standard & Poor’s LEVELS®
Glossary.
Startup
Day: The Closing Date.
Stock
Power: With respect to a Cooperative Loan, an assignment of the
stock certificate or an assignment of the Cooperative Shares issued by the
Cooperative Corporation.
Stripped
Interest Rate: With respect to each Non-Discount Mortgage Loan,
the excess of the Net Mortgage Rate for such Mortgage Loan over the Required
Coupon for such Mortgage Loan.
Subcontractor: Any
vendor, subcontractor or other Person that is not responsible for the overall
servicing of Mortgage Loans but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans
under
the direction or authority of any Servicer (or a Sub-Servicer of any Servicer),
the Master Servicer, the Custodian or the Securities Administrator.
Subordinate
Certificates: The Class B-1, Class B-2, Class B-3,
Class B-4, Class B-5, Class B-6, Class B-7 and Class B-8
Certificates.
Subordinate
Certificates Fractional Interest Test: This test is satisfied
with respect to a Class of Subordinate Certificates and any Distribution Date
if
(a) on any Distribution Date on or prior to the Distribution Date in
September 2018, the Fractional Interest of such Class is greater than or equal
to twice its Fractional Interest on the Closing Date and (b) the Senior
Prepayment Percentage for such Distribution Date is determined in accordance
with clause (ii) or (iii) of the proviso in the definition of “Senior
Prepayment Percentage.”
Subordinate
Optimal Principal Amount: For any Distribution Date and any Loan
Group, the sum for each Mortgage Loan in such Loan Group of (i) the
Subordinate Percentage of the applicable Non-PO Percentage of (a) the
principal portion of each Scheduled Payment (without giving effect, prior to
the
Bankruptcy Coverage Termination Date, to any reductions thereof caused by any
Debt Service Reductions or Deficient Valuations) due on each such Mortgage
Loan
on the related Due Date, (b) the principal portion of the Purchase Price of
each such Mortgage Loan to the extent it was repurchased by the Transferor
pursuant to this Agreement as of such Distribution Date, (c) the
Substitution Adjustment Amount in connection with any Deleted Mortgage Loan
related to such Loan Group received with respect to such Distribution Date,
(d) any Liquidation Proceeds (including Insurance Proceeds) allocable to
recoveries of principal of Mortgage Loans related to such Loan Group that are
not yet Liquidated Loans, received during the calendar month preceding the
month
of such Distribution Date, (ii) with respect to each Mortgage Loan in such
Loan Group that became a Liquidated Loan during the calendar month preceding
the
month of such Distribution Date, the portion of the applicable Non-PO Percentage
of the amount of the Liquidation Proceeds allocable to principal received with
respect to such Mortgage Loan that was not included in clause (ii) of the
definition of “Senior Optimal Principal Amount” for such Distribution Date,
(iii) the Subordinate Prepayment Percentage of the applicable Non-PO
Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage
Loans in such Loan Group received during the related Prepayment Period and
(b) all partial Principal Prepayments of Mortgage Loans in such Loan Group
and applied during the related Prepayment Period and (iv) with respect to
any Distribution Date prior to the Cross-Over Date only, the Subordinate
Prepayment Percentage related to such Group of the Non-PO Recoveries received
during the related Prepayment Period; provided, however, that if a
Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage
Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal
Principal Amount will be reduced on the related Distribution Date by the
Subordinate Percentage of the applicable Non-PO Percentage of the principal
portion of such Bankruptcy Loss.
Subordinate
Percentage: As to any Distribution Date and any Certificate
Group, 100% minus the Senior Percentage for such Certificate Group for such
Distribution Date.
Subordinate
Prepayment Percentage: As to any Distribution Date and any
Certificate Group, 100% minus the Senior Prepayment Percentage for such
Certificate Group for such Distribution Date, except that, on any Distribution
Date after the Senior Final Distribution Date for any Certificate Group, the
Subordinate Prepayment Percentage for such Certificate Group will equal
100%.
Subordinate
Principal Distribution Amount: With respect to the Subordinate
Certificates, the aggregate amount that would be payable as principal on such
Subordinate Certificates from Available Funds for the Loan Groups in the
aggregate, after application of Available Funds for each such Loan Group
(i) to make payments on the related Senior Certificates in accordance with
Section 4.02(a)(i) items first and second and Section 4.02(e) and
(ii) to make payments of Accrued Certificate Interest to the Subordinate
Certificates in accordance with Section 4.02(a)(ii).
Subservicer: Any
Person that services Mortgage Loans on behalf of a Servicer, and is responsible
for the performance (whether directly or through subservicers or Subcontractors)
of servicing functions required to be performed under this Agreement, any
related Servicing Agreement or any sub-servicing agreement that are identified
in Item 1122(d) of Regulation AB.
Substitution
Adjustment Amount: The meaning ascribed to such term pursuant to
Section 2.03.
Tax
Matters Person: The Holder of the Class AR Certificates
designated as “tax matters person” of (x) REMIC I and (y) REMIC II,
respectively, in the manner provided under Treasury Regulations Section
1.860F-4(d) and Treasury Regulations Section 301.6231(a)(7)-1.
Tax
Returns: The federal income tax return on Internal Revenue Service Form
1066, U.S. Real Estate Mortgage Investment Conduit Income Tax Return, including
Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC
Taxable Income or Net Loss Allocation, or any successor forms, to be filed
on
behalf of any Trust REMIC due to its classification as a REMIC under the REMIC
Provisions, together with any and all other information reports or returns
that
may be required to be furnished to the Certificateholders or filed with the
Internal Revenue Service or any other governmental taxing authority under any
applicable provisions of federal, state or local tax laws.
Transfer: Any
direct or indirect transfer or sale of any Ownership Interest in a Residual
Certificate.
Transferor: UBS
Real Estate Securities Inc., a Delaware corporation, seller of the Mortgage
Loans to the Depositor pursuant to the Mortgage Loan Purchase
Agreement.
Trust: As
defined in Section 2.01(c).
Trust
Administrator: Xxxxx Fargo, in its capacity as Trust
Administrator.
Trust
Administrator Compensation: All investment earnings on amounts on
deposit in the Distribution Account.
Trust
Fund: The corpus of the trust created hereunder consisting of
(i) the Mortgage Loan Purchase Agreement, the Assignment Agreements and the
Servicing Agreements solely as each such Servicing Agreement relates to the
Mortgage Loans being serviced by the related Servicer (other than those rights
under the Servicing Agreements that do not relate to the servicing of the
Mortgage Loans (including, without limitation, the representations and
warranties made by the applicable Servicers (with respect to the Mortgage Loans
sold to the Transferor) and the document delivery requirements of such Servicer
and the remedies (including indemnification) available for breaches thereto);
(ii) the Mortgage Loans and all interest and principal received on or with
respect thereto after the Cut-off Date to the extent not applied in computing
the Cut-off Date Principal Balance thereof; (iii) the Collection Account
and the Distribution Account and all amounts deposited therein pursuant to
the
applicable provisions of this Agreement; (iv) property that secured a
Mortgage Loan and has been acquired by foreclosure, deed-in-lieu of foreclosure
or otherwise; and (v) all proceeds of the conversion, voluntary or
involuntary, of any of the foregoing.
Trust
REMIC: Each of REMIC I and REMIC II.
Trustee: U.S.
Bank National Association, a banking association organized under the laws of
the
United States, and its successors and, if a successor trustee is appointed
hereunder, such successor.
Uncertificated
Accrued Interest: With respect to each REMIC Regular Interest on each
Distribution Date, an amount equal to one month’s interest at the related REMIC
I Remittance Rate on the Uncertificated Balance of such REMIC I Regular
Interest. In each case, Uncertificated Accrued Interest will be reduced by
any
Net Prepayment Interest Shortfalls, Relief Act Reduction (allocated to such
REMIC I Regular Interests based on their respective entitlements to interest
irrespective of any Net Prepayment Interest Shortfalls and Relief Act Reductions
for such Distribution Date).
Uncertificated
Balance: The amount of any REMIC I Regular Interest outstanding
as of any date of determination. As of the Closing Date, the
Uncertificated Balance, if any, of each REMIC I Regular Interest shall equal
the
amount set forth in the Preliminary Statement hereto as its initial
Uncertificated Balance. On each Distribution Date, the Uncertificated Balance
of
each REMIC I Regular Interest shall be reduced by all distributions of principal
made on such REMIC I Regular Interest, as applicable, on such Distribution
Date
and, if and to the extent necessary and appropriate, shall be further reduced
on
such Distribution Date by Realized Losses allocated to such REMIC I Regular
Interest.
Uncertificated
Notional Amount: With respect to REMIC I Regular Interest LT-4AXIO, an
amount equal to the aggregate Scheduled Principal Balance of the Non-Discount
Loans as of the first day of the month immediately prior to the month in which
the related Distribution Date occurs (after taking in account scheduled payments
of principal on that date and unscheduled payments of principal distributed
on
the immediately preceding Distribution Date), or for the initial Distribution
Date, as of the Cut-off Date. With respect to REMIC II Regular Interest Class
4-A-3, the Uncertificated Principal Balance of REMIC I Regular Interest
LT-4A3IO. With respect to REMIC II Regular Interest Class 4-A-4B, the
Uncertificated Principal Balance of REMIC I Regular Interest
LT-4A4.
Uncertificated
REMIC II Regular Interest: As described in the Preliminary
Statement.
Undercollateralized
Group: Any Certificate Group, as to which, on any Distribution
Date, the aggregate Class Principal Balance of the Senior Certificates related
to such Certificate Group of which (after giving effect to distributions to
be
made on such Distribution Date) is greater than the Group Pool Principal Balance
of the related Loan Group for the following Distribution Date.
Underwriter’s
Exemption: Prohibited Transaction Exemption 2007-05, 72 Fed. Reg.
13130 (2007), as amended (or any successor thereto), or any substantially
similar administrative exemption granted by the U.S. Department of
Labor.
Voting
Rights: The portion of the voting rights of all of the
Certificates which is allocated to any Certificate. As of any date of
determination, (a) the Interest Only Certificates will be entitled to 1% in
the
aggregate of all Voting Rights (such Voting Rights to be allocated among the
Holders of Certificates of each such Class in accordance with their respective
Percentage Interests), (b) 1% of all Voting Rights shall be allocated to the
Class P Certificates (in the aggregate with each Class P Certificate entitled
to
0.20% of all Voting Rights) and (c) the remaining Voting Rights (and the Voting
Rights allocated to the Interest Only Certificates if there are no Interest
Only
Certificates) shall be allocated among Holders of the remaining Classes of
Certificates in proportion to the Certificate Principal Balances of their
respective Certificates on such date. The Voting Rights allocated to
a Class of Certificates will be allocated among all Holders of that Class in
proportion to the respective outstanding Certificate Principal Balances, or
Percentage Interest, of those Certificates. Each Class of
Exchangeable Certificates will be allocated a proportionate share of the Voting
Rights allocated to the related Class of Exchangeable REMIC Certificates that
has been surrendered.
Xxxxx
Fargo: Xxxxx Fargo Bank, N.A. and its successors and assigns, in
its capacity as Master Servicer, Trust Administrator, Servicer, Credit Risk
Manager or Custodian, as the case may be, hereunder.
Xxxxx
Fargo Mortgage Loans: The Mortgage Loans for which Xxxxx Fargo is
listed as “Servicer” on the Mortgage Loan Schedule.
Xxxxx
Fargo Servicing Agreement: Solely with respect to the Xxxxx Fargo
Mortgage Loans, the Amended and Restated Servicing Agreement, dated as of
November 1, 2005, between the Transferor and Xxxxx Fargo, and as the same may
be
amended from time to time and any assignments and conveyances related to the
Xxxxx Fargo Mortgage Loans.
WHFIT:
shall mean a “Widely Held Fixed Investment Trust” as that term is defined in
Treasury Regulations section 1.671-5(b)(22) or successor
provisions.
WHFIT
Regulations: shall mean Treasury Regulations section 1.671-5, as
amended.
WHMT:
shall mean a “Widely Held Mortgage Trust” as that term is defined in Treasury
Regulations section 1.671-5(b)(23) or successor provisions.
Certain
Calculations. Unless otherwise specified herein, for purposes of
determining amounts with respect to the Certificates and the rights and
obligations of the parties hereto, all calculations of interest (other than
as
provided in the Mortgage Loan documents) provided for herein shall be made
on
the basis of a 360 day year consisting of twelve 30 day months.
ARTICLE
II
CONVEYANCE
OF MORTGAGE LOANS;
REPRESENTATIONS
AND WARRANTIES
Section
2.01 Conveyance
of Mortgage Loans. (a) The Depositor, concurrently
with the execution and delivery hereof, hereby sells, transfers, assigns, sets
over and otherwise conveys to the Trustee for the benefit of the
Certificateholders, without recourse, all the right, title and interest of
the
Depositor in and to the Trust Fund together with all rights assigned by the
Transferor to the Depositor, pursuant to the Mortgage Loan Purchase Agreement,
solely with respect to the Mortgage Loans, and, solely with respect to the
Mortgage Loans, all of the Transferor’s right, title and interest in and to the
Servicing Agreements solely as each such Servicing Agreement relates to the
Mortgage Loans being serviced by the related Servicer (other than those rights
under the Servicing Agreements that do not relate to servicing of the Mortgage
Loans (including, without limitation, the representations and warranties made
by
each Servicer (in its capacity as loan seller to the Transferor) and the
document delivery requirements of such Servicer and the remedies (including
indemnification) available for breaches thereto). In connection with
the foregoing assignments, the Transferor has caused each Servicer to enter
into
the related Servicing Agreement.
(b) (i) In
connection with the transfer and assignment set forth in clause (a) above,
the Depositor has delivered or caused to be delivered to the Custodian, on
behalf of the Trustee, for the benefit of the Certificateholders the following
documents or instruments with respect to each Mortgage Loan that is not a
Cooperative Loan so assigned:
(A) the
original Mortgage Note endorsed by manual or facsimile signature in blank in
the
following form: “Pay to the order of ___________ without recourse,”
with all intervening endorsements showing a complete chain of endorsement from
the originator to the Person endorsing the Mortgage Note (each such endorsement
being sufficient to transfer all right, title and interest of the party so
endorsing, as noteholder or assignee thereof, in and to that Mortgage Note);
or,
with respect to any Lost Mortgage Note, a lost note affidavit from the related
originator or the Transferor stating that the original Mortgage Note was lost
or
destroyed, together with a copy of such Mortgage Note;
(B) except
as
provided below, the original recorded Mortgage or a copy of such Mortgage
certified by the related originator as being a true and complete copy of the
Mortgage;
(C) a
duly
executed assignment of the Mortgage (which may be included in a blanket
assignment or assignments), endorsed in blank (except with respect to MERS
designated Mortgage Loans) together with, except as provided below, all interim
recorded assignments of such mortgage (each such assignment, when duly and
validly completed, to be in recordable form and sufficient to effect the
assignment of and transfer to the assignee thereof, under the Mortgage to which
the assignment relates); provided that, if the related Mortgage has not
been returned from the applicable public recording office, such assignment
of
the Mortgage may exclude the information to be provided by the recording
office;
(D) the
original or copies of each assumption, modification, written assurance or
substitution agreement, if any; and
(E) except
as
provided below, the original or duplicate original lender’s title policy and all
riders thereto.
(ii) In
connection with the transfer and assignment set forth in clause (a) above,
the Depositor has delivered or caused to be delivered to the Custodian, on
behalf of the Trustee, for the benefit of the Certificateholders the following
documents or instruments with respect to each Cooperative Loan so
assigned:
(A) the
Cooperative Shares, together with the Stock Power in blank;
(B) the
executed Security Agreement;
(C) the
executed Proprietary Lease and the Assignment of Proprietary Lease to the
originator of the Cooperative Loan;
(D) the
executed Recognition Agreement, if any;
(E) copies
of
the original UCC financing statement, and any continuation statements, filed
by
the originator of such Cooperative Loan as secured party, each with evidence
of
recording thereof, evidencing the interest of the originator under the Security
Agreement and the Assignment of Proprietary Lease;
(F) copies
of
the filed UCC assignments or amendments of the security interest referenced
in
clause (e) above showing an unbroken chain of title from the originator to
the Trust, each with evidence of recording thereof, evidencing the interest
of
the assignee under the Security Agreement and the Assignment of Proprietary
Lease;
(G) an
executed assignment of the interest of the originator in the Security Agreement,
the Assignment of Proprietary Lease and the Recognition Agreement, if any,
showing an unbroken chain of title from the originator to the Trust;
and
(H) for
any
Cooperative Loan that has been modified or amended, the original instrument
or
instruments effecting such modifications or amendment.
Notwithstanding
the foregoing, if any Mortgage has been recorded in the name of Mortgage
Electronic Registration System, Inc. (“MERS”) or its designee, no
assignment of Mortgage in favor of the Trustee will be required to be prepared
or delivered and instead, the Master Servicer (or if the Master Servicer is
the
Servicer, the Trustee upon receipt of written notice that the records of MERS
have not been so changed) shall enforce the obligations of the applicable
Servicer under the related Servicing Agreement to cause the Trustee to be shown
as the owner of the related Mortgage Loan on the records of MERS for the purpose
of the system of recording transfers of beneficial ownership of mortgages
maintained by MERS.
If
in
connection with any Mortgage Loan the Depositor cannot deliver (a) the
original recorded Mortgage, (b) all interim recorded assignments or
(c) the lender’s title policy (together with all riders thereto) satisfying
the requirements of clause (b)(i)(B), (b)(i)(C) or (b)(i)(E) above,
respectively, concurrently with the execution and delivery hereof because such
document or documents have not been returned from the applicable public
recording office in the case of clause (b)(i)(B) or (b)(i)(C) above, or
because the title policy has not been delivered to either the Custodian or
the
Depositor by the applicable title insurer in the case of clause (b)(i)(E)
above, the Depositor shall promptly deliver to the Custodian, in the case of
clause (b)(i)(B) or (b)(i)(C) above, such original Mortgage or such interim
assignment, as the case may be, with evidence of recording indicated thereon
upon receipt thereof from the public recording office, or a copy thereof,
certified, if appropriate, by the relevant recording office, but in no event
shall any such delivery of the original Mortgage and each such interim
assignment or a copy thereof, certified, if appropriate, by the relevant
recording office, be made later than one year following the Closing Date, or,
in
the case of clause (b)(i)(E) above, no later than 120 days following
the Closing Date; provided, however, in the event the Depositor is
unable to deliver by such date each Mortgage and each such interim assignment
by
reason of the fact that any such documents have not been returned by the
appropriate recording office, or, in the case of each such interim assignment,
because the related Mortgage has not been returned by the appropriate recording
office, the Depositor shall deliver such documents to the Custodian as promptly
as possible upon receipt thereof and, in any event, within 720 days
following the Closing Date. The Depositor shall forward or cause to
be forwarded to the Custodian (a) from time to time additional original
documents evidencing an assumption or modification of a Mortgage Loan and
(b) any other documents required to be delivered by the Depositor to the
Custodian. In the event that the original Mortgage is not delivered
and in connection with the payment in full of the related Mortgage Loan and
the
public recording office requires the presentation of a “lost instruments
affidavit and indemnity” or any equivalent document, because only a copy of the
Mortgage can be delivered with the instrument of satisfaction or reconveyance,
the Custodian shall execute and deliver or cause to be executed and delivered
such a document to the public recording office. In the case where a
public recording office retains the original recorded Mortgage or in the case
where a Mortgage is lost after recordation in a public recording office, the
Transferor shall deliver to the Custodian a copy of such Mortgage certified
by
such public recording office to be a true and complete copy of the original
recorded Mortgage.
If
an
assignment of Mortgage is to be recorded, the Depositor shall cause the Mortgage
to be assigned to “U.S. Bank National Association, in trust for the MASTR
Alternative Loan Trust 2007-HF1 for the benefit of the Holders of the Mortgage
Pass-Through Certificates, Series 2007-HF1” and, subject to
Section 2.02, the Master Servicer (or if the Master Servicer is the
Servicer, the Trustee upon receipt of written notice) shall enforce the
obligations of the related Servicer pursuant to the related Servicing Agreement
to (i) cause such assignment to be in proper form for recording in the
appropriate public office for real property records and (ii) cause to be
delivered for recording in the appropriate public office for real property
records the assignments of the Mortgages to the Trustee, except that, with
respect to any assignments of Mortgage as to which the related Servicer has
not
received the information required to prepare such assignment in recordable
form,
the related Servicer’s obligation to do so and to deliver the same for such
recording shall be as soon as practicable after receipt of such information
and
in any event within ninety (90) days after receipt thereof and except that
the related Servicer need not cause to be recorded any assignment which relates
to a Mortgage Loan (a) in any state where, in an Opinion of Counsel
addressed to the Trustee, such recording is not required to protect the
Trustee’s interests in the Mortgage Loan against the claim of any subsequent
transferee or any successor to or creditor of the Depositor or the Transferor,
(b) in any state where recordation is not required by either Rating Agency
to obtain the initial ratings on the Certificates set forth in the Prospectus
Supplement or (c) with respect to any Mortgage which has been recorded in
the name of MERS, or its designee. As for the date hereof, recordation
is
not required in any state by either Rating Agency to obtain the initial rating
on the Certificates (upon which statement the Master Servicer, the Trustee
and
the Custodian may conclusively rely).
In
the
case of Mortgage Loans that have been prepaid in full as of the Closing Date,
the Depositor, in lieu of delivering the above documents to the Custodian on
behalf of the Trustee, will deposit in the Collection Account the portion of
such payment that is required to be deposited in the Collection Account pursuant
to Section 3.07 hereof.
(c) The
Depositor does hereby establish, pursuant to the further provisions of this
Agreement and the laws of the State of New York, an express trust (the
“Trust”) to be known, for convenience, as “MASTR Alternative Loan Trust
2007-HF1” and U.S. Bank National Association, is hereby appointed as Trustee in
accordance with the provisions of this Agreement.
On
the
Closing Date, the Depositor will deposit into the Distribution Account the
Class
P Amount.
Section
2.02 Acceptance
by Trustee of the Mortgage Loans. The Custodian, on behalf of the
Trustee, acknowledges receipt of the documents identified in the Initial
Certification in the form annexed hereto as Exhibit F, and declares
that it holds and will hold such documents and the other documents delivered
to
it constituting the related Mortgage Files, and the Custodian and the Trustee
together declare that it holds or will hold such other assets as are included
in
the Trust Fund, in trust for the exclusive use and benefit of all present and
future Certificateholders. The Custodian acknowledges that it will
maintain possession of the Mortgage Notes held by it in the State of Minnesota,
unless otherwise permitted by the Rating Agencies and the Trustee.
The
Custodian agrees to execute and deliver on the Closing Date to the Depositor
and
the Trustee an Initial Certification in the form annexed hereto as
Exhibit F. Based on its review and examination, and only
as to the documents identified in such Initial Certification, the Custodian
acknowledges, subject to any applicable exceptions noted on
Exhibit F that such documents appear regular on their face and
relate to such Mortgage Loan. The Custodian shall not be under any
duty or obligation to (i) inspect, review or examine said documents,
instruments, certificates or other papers to determine that the same are
genuine, enforceable or appropriate for the represented purpose or that they
have actually been recorded in the real estate records or that they are other
than what they purport to be on their face or (ii) determine whether the
Mortgage File should include any of the documents specified in
Section 2.01(b)(i)(D) with respect to each Mortgage Loan that is not a
Cooperative Loan and Section 2.01(b)(ii)(H) with respect to each
Cooperative Loan, unless the Mortgage Loan Schedule indicates that such
documents are applicable.
Not
later
than 90 days after the Closing Date, the Custodian shall deliver to the
Depositor, the Trustee and the Transferor a Final Certification in the form
annexed hereto as Exhibit G, with any applicable exceptions noted
thereon. The Custodian shall make available, upon request of any
Certificateholder, a copy of any exceptions noted on the Initial Certification
or Final Certification. The Custodian shall make available, upon
request of the Trustee, the identity of the originator for any Mortgage Loan
with a material exception.
If,
in
the course of such review, the Custodian finds any document constituting a
part
of a Mortgage File which does not meet the requirements of Section 2.01,
the Custodian shall list such as an exception in the Final Certification;
provided, however, that the Custodian shall not make any
determination as to whether (i) any endorsement is sufficient to transfer
all right, title and interest of the party so endorsing, as noteholder or
assignee thereof, in and to that Mortgage Note, (ii) any assignment is in
recordable form or is sufficient to effect the assignment of and transfer to
the
assignee thereof under the mortgage to which the assignment relates or
(iii) the Mortgage File should include any of the documents specified in
Section 2.01(b)(i)(D) with respect to each Mortgage Loan that is not a
Cooperative Loan and Section 2.01(b)(ii)(H) with respect to each
Cooperative Loan, unless the Mortgage Loan Schedule indicates that such
documents are applicable.
Upon
receiving the Final Certification from the Custodian, the Trustee shall notify
the Transferor of any document defects listed as exceptions in each such Final
Certification. The Transferor shall promptly correct
or
cure such document defects, and if the Transferor fails to correct or
cure the defect within ninety (90) days of the earlier of its discovery or
its receipt of written notice of any document constituting a part of a Mortgage
File that does not meet the requirements of Section 2.01, and such defect
materially and adversely affects the interests of the Certificateholders in
the
related Mortgage Loan, the Transferor shall repurchase the affected Mortgage
Loan from the Trustee at the Purchase Price. Any such purchase of a
Mortgage Loan shall not be effected prior to the delivery to the Custodian
of a
Request for Release substantially in the form of
Exhibit L. The Purchase Price for any such Mortgage Loan
shall be paid by the Transferor to the Master Servicer for deposit in the
Collection Account on or prior to the Distribution Account Deposit Date for
the
Distribution Date in the month following the month of repurchase and, upon
receipt of such deposit, the Master Servicer shall instruct the Custodian to
release, and the Custodian shall release, the related Mortgage File to the
Transferor and the Trustee shall execute and deliver at the Transferor’s written
request such instruments of transfer or assignment prepared by the Transferor,
in each case without recourse, representation or warranty, as shall be necessary
to vest in the Transferor, or a designee, the Trustee’s interest in any Mortgage
Loan released pursuant hereto. The Transferor shall promptly
reimburse the Master Servicer and the Trustee for any expenses reasonably
incurred by the Master Servicer or the Trustee in respect of enforcing such
repurchase by the Transferor.
The
Custodian shall retain possession and custody of each related Mortgage File
in
accordance with and subject to the terms and conditions set forth
herein. Pursuant to the terms of the related Servicing Agreement, the
Master Servicer shall cause each of the related Servicers to promptly deliver
to
the Custodian who shall thereupon promptly deposit within each Mortgage File,
upon the execution or receipt thereof, the originals of such other documents
or
instruments constituting the Mortgage File as come into the possession of the
related Servicers from time to time.
It
is
understood and agreed that the obligations of the Transferor, hereunder, to
purchase any Mortgage Loan which does not meet the requirements of
Section 2.01 above or substitute for the related Mortgage Loan an Eligible
Substitute Mortgage Loan shall constitute the sole remedies respecting such
defect available to the Trustee, the Master Servicer, the Trust Administrator,
the Depositor and any Certificateholder.
It
is
agreed and understood by the Trustee, the Trust Administrator, the Depositor
and
the Transferor that it is not intended that any mortgage loan be included in
the
Issuing Entity that is a “High-Cost Home Loan” as defined in the New Jersey Home
Ownership Act, effective as of November 27, 2003, or The Home Loan Protection
Act of New Mexico, effective as of January 1, 2004, or that is a “High Cost Home
Mortgage Loan” as defined in the Massachusetts Predatory Home Loan Practices
Act, effective as of November 7, 2004, or that is an “Indiana High Cost Home
Mortgage Loan” as defined in the Indiana High Cost Home Loan Act, effective as
of January 1, 2005.
Section
2.03 Remedies
for Breaches of Representations and Warranties. The Transferor
hereby makes the representations and warranties set forth in
Schedule II hereto, and by this reference incorporated herein, to
the Depositor and the Trustee, as of the Closing Date, or if so specified
therein, as of the Cut-off Date. With respect to any representation
and warranties set forth on Schedule II hereto that are made to the best of
the
Transferor’s knowledge, if it is discovered by any of the Depositor, the Master
Servicer, the Transferor, any Servicer, the Trustee or the Trust Administrator
that the substance of such representation and warranty is inaccurate and such
inaccuracy materially and adversely affects the value of the related Mortgage
Loan or the interests of the Certificateholders therein, notwithstanding the
Transferor’s lack of knowledge with respect to the substance of such
representation or warranty, such inaccuracy shall be deemed a breach of the
applicable representation or warranty.
Upon
discovery by any of the Depositor, the Transferor, the Master Servicer, the
Trust Administrator or the Custodian of a breach of a representation or warranty
made by the Transferor pursuant to this Section 2.03 that materially and
adversely affects the interests of the Certificateholders in any Mortgage Loan,
the party discovering such breach shall give prompt notice thereof to the other
parties and the Trustee. Notwithstanding the foregoing, (i) a
breach which causes a Mortgage Loan not to constitute a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, or (ii) a breach
of any of the representations and warranties set forth in clauses (xiv),
(xxxv), (xxxvi), (xxxvii), (xxxviii), (xxxix) and (xl) of Schedule II, in
each case, will be deemed automatically to materially and adversely affect
the
interests of the Certificateholders in such Mortgage Loan. Upon
receiving notice of a breach, the Trustee shall in turn notify the Transferor
of
such breach. The Trustee shall enforce the obligations of the
Transferor in accordance with this Section 2.03 to correct or cure any such
breach of a representation or warranty made herein, and if the Transferor fails
to correct or cure the defect within such period, and such defect materially
and
adversely affects the interests of the Certificateholders in the related
Mortgage Loan, the Trustee shall enforce the Transferor’s obligations hereunder
to (i) purchase such Mortgage Loan at the Purchase Price or
(ii) substitute for the related Mortgage Loan an Eligible Substitute
Mortgage Loan. In each case, such Mortgage Loan (a “Deleted
Mortgage Loan”) will be removed from the Trust Fund.
The
Transferor hereby covenants that within ninety (90) days of the earlier of
its discovery or its receipt of written notice from any party of a breach of
any
representation or warranty made pursuant to this Section 2.03 which
materially and adversely affects the interest of the Certificateholders in
any
Mortgage Loan it shall cure such breach in all material respects, and if such
breach is not so cured, shall, (i) if such ninety (90) day period expires
prior to the second anniversary of the Closing Date, remove such Deleted
Mortgage Loan from the Trust Fund and substitute in its place an Eligible
Substitute Mortgage Loan or Loans into the Trust Fund, in the manner and subject
to the conditions set forth in this Section; or (ii) repurchase the
affected Mortgage Loan or Mortgage Loans at the Purchase Price in the manner
set
forth below. The Transferor shall promptly reimburse the Master
Servicer and the Trustee for any expenses reasonably incurred by the Master
Servicer or the Trustee in respect of enforcing the remedies for such breach
by
the Transferor.
With
respect to any Eligible Substitute Mortgage Loan or Loans, the Transferor shall
deliver to the Custodian on behalf of the Trustee for the benefit of the
Certificateholders the Mortgage Note, the Mortgage, the related assignment
of
the Mortgage, and such other documents and agreements as are required by
Section 2.01, with the Mortgage Note endorsed and the Mortgage assigned as
required by Section 2.01. No substitution is permitted to be
made on any day in any calendar month after the Determination Date for such
month.
With
respect to substitutions made by the Transferor, Scheduled Payments due with
respect to Eligible Substitute Mortgage Loans in the month of substitution
shall
not be part of the Trust Fund and will be retained by the Transferor on the
next
succeeding Distribution Date. For the month of substitution,
distributions to Certificateholders will include the monthly payment due on
any
Deleted Mortgage Loan for such month and thereafter the Transferor shall be
entitled to retain all amounts received in respect of such Deleted Mortgage
Loan. The Custodian shall amend the Mortgage Loan Schedule for the
benefit of the Certificateholders to reflect the removal of such Deleted
Mortgage Loan and the substitution of the Eligible Substitute Mortgage Loan
or
Loans and the Custodian shall deliver the amended Mortgage Loan Schedule to
the
Trustee. Upon such substitution, the Eligible Substitute Mortgage
Loan or Loans shall be subject to the terms of this Agreement in all respects,
and the Transferor shall be deemed to have made with respect to such Eligible
Substitute Mortgage Loan or Loans, as of the date of substitution, the
representations and warranties made pursuant to this Section 2.03 with
respect to such Mortgage Loan. Upon any such substitution and the
deposit to the Collection Account of the amount required to be deposited therein
in connection with such substitution as described in the following paragraph,
the Custodian shall release the Mortgage File held for the benefit of the
Certificateholders relating to such Deleted Mortgage Loan to the Transferor and the Trustee shall
execute
and deliver at the Transferor’s direction such instruments of transfer or
assignment prepared by the Transferor, without recourse, representation or
warranty, as shall be necessary to vest title in the Transferor, as applicable,
or its designee, the Trustee’s interest in any Deleted Mortgage Loan substituted
for pursuant to this Section 2.03.
For
any
month in which the Transferor substitutes one or more Eligible Substitute
Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer
will
determine the amount (if any) by which the aggregate principal balance of all
such Eligible Substitute Mortgage Loans as of the date of substitution is less
than the aggregate Scheduled Principal Balance of all such Deleted Mortgage
Loans (after application of the scheduled principal portion of the monthly
payments due in the month of substitution). The amount of such
shortage (the “Substitution Adjustment Amount”) plus an amount equal to
the aggregate of any unreimbursed Advances with respect to such Deleted Mortgage
Loans shall be remitted by the Transferor to the Master Servicer, and the Master
Servicer shall deposit such amounts received from the Transferor into the
Collection Account on or before the Distribution Account Deposit Date for the
Distribution Date in the month succeeding the calendar month during which the
related Mortgage Loan became required to be purchased or replaced
hereunder.
In
the
event that the Transferor shall have repurchased a Mortgage Loan, the Purchase
Price therefor shall be deposited in the Collection Account pursuant to
Section 3.07 on or before the Distribution Account Deposit Date for the
Distribution Date in the month following the month during which the Transferor
became obligated hereunder to repurchase or replace such Mortgage Loan and
upon
such deposit of the Purchase Price and receipt of a Request for Release in
the
form of Exhibit L hereto, the Custodian shall release the related
Mortgage File held for the benefit of the Certificateholders to the Transferor,
and the Trustee shall execute and deliver at the Transferor’s direction such
instruments of transfer or assignment prepared by the Transferor, in each case
without recourse, representation or warranty, as shall be necessary to transfer
title from the Trustee. It is understood and agreed that the
obligation under this Agreement of the Transferor to cure, repurchase or replace
any Mortgage Loan as to which a breach has occurred and is continuing shall
constitute the sole remedies against the Transferor respecting such matters
available to Certificateholders, the Master Servicer, the Depositor, the Trust
Administrator or the Trustee on their behalf.
The
provisions of this Section 2.03 shall survive the conveyance and assignment
of the Mortgage Files to the Trustee and the delivery of the respective Mortgage
Files to the Custodian for the benefit of the Trustee and the
Certificateholders.
Section
2.04 Representations
and Warranties of the Depositor as to the Mortgage Loans. The
Depositor hereby represents and warrants to the Trustee, the Trust Administrator
and the Master Servicer with respect to each Mortgage Loan as of the date hereof
or such other date set forth herein that as of the Closing Date, and following
the transfer of the Mortgage Loans to it by the Transferor, the Depositor had
good title to the Mortgage Loans and the Mortgage Notes were subject to no
offsets, liens, defenses or counterclaims.
It
is
understood and agreed that the representations and warranties set forth in
this
Section 2.04 shall survive delivery of the Mortgage Files to the
Custodian. Upon discovery by the Depositor, the Transferor, the
Master Servicer, the Trust Administrator or the Trustee of a breach of any
of
the foregoing representations and warranties set forth in this Section 2.04
(referred to herein as a “breach”), which breach materially and adversely
affects the interest of the Certificateholders, the party discovering such
breach shall give prompt written notice to the other parties hereto and to
each
Rating Agency.
Section
2.05 Conveyance
of the REMIC I Regular Interests; Acceptance of REMIC II by the
Trustee. The Depositor, concurrently with the execution and
delivery hereof, does hereby transfer, assign, set over and otherwise convey
to
the Trustee, without recourse all the right, title and interest of the Depositor
in and to the REMIC I Regular Interests for the benefit of the Class AR
Certificateholders (as holder of the Class R-I Interest and Class R-II Interest)
and REMIC II (as holder of the REMIC I Regular Interests). The
Trustee acknowledges receipt of the REMIC I Regular Interests and declares
that
it holds and will hold the same in trust for the exclusive use and benefit
of
all present and future Class AR Certificateholders (as holder of the Class
R-I
Interest and Class R-II Interest) and REMIC II (as holder of the REMIC I Regular
Interests). The rights of the Class AR Certificateholders (as holder
of the Class R-I Interest and Class R-II Interest) and REMIC II (as holder
of
the REMIC I Regular Interest) to receive distributions from the proceeds of
REMIC II in respect of the Class R-II Interest and REMIC II Regular Interests,
respectively, and all ownership interests evidenced or constituted by the Class
R-II Interest and the REMIC I Regular Interests, shall be as set forth in this
Agreement.
Section
2.06 REMIC
Matters. The Preliminary Statement sets forth the designations as
“regular interests” or “residual interests” and “latest possible maturity date”
for federal income tax purposes of all interests created hereby. The
“Startup Day” for purposes of the REMIC Provisions shall be the Closing
Date. Each REMIC shall have the calendar year as its fiscal year and
shall use the accrual method of accounting.
Section
2.07 Covenants
of the Master Servicer. The Master Servicer hereby covenants to
the Depositor and the Trustee as follows:
(a) subject
to Section 3.01, the Master Servicer shall (or if the Master Servicer is
the Servicer, the Trustee upon receipt of written notice) cause each Servicer
to
perform its obligations under the applicable Servicing Agreement;
and
(b) no
written information, certificate of an officer, statement furnished in writing
or written report delivered to the Depositor, any affiliate of the Depositor
or
the Trustee and prepared by the Master Servicer pursuant to this Agreement
will
contain any untrue statement of a material fact or omit to state a material
fact
necessary to make such information, certificate, statement or report not
misleading at the time provided.
Section
2.08 Representations
and Warranties of the Master Servicer. The Master Servicer hereby
represents and warrants to the Depositor, the Custodian and the Trustee, as
of
the Closing Date, or if so specified herein, as of the Cut-off
Date:
(a) The
Master Servicer is duly organized as a national banking association and is
validly existing and in good standing under the laws of the United States of
America and is duly authorized and qualified to transact any and all business
contemplated by this Agreement to be conducted by the Master Servicer in any
state in which a Mortgaged Property is located or is otherwise not required
under applicable law to effect such qualification and, in any event, is in
compliance with the doing business laws of any such state, to master service
the
Mortgage Loans in accordance with the terms of this Agreement and to perform
any
of its other obligations under this Agreement in accordance with the terms
hereof.
(b) The
Master Servicer has the full power and authority to master service each Mortgage
Loan, and to execute, deliver and perform, and to enter into and consummate
the
transactions contemplated by this Agreement and has duly authorized by all
necessary action on the part of the Master Servicer the execution, delivery
and
performance of this Agreement; and this Agreement, assuming the due
authorization, execution and delivery hereof by the other parties hereto,
constitutes a legal, valid and binding obligation of the Master Servicer,
enforceable against the Master Servicer in accordance with its terms, except
that (i) the enforceability hereof may be limited by bankruptcy,
insolvency, moratorium, receivership and other similar laws relating to
creditors’ rights generally and (ii) the remedy of specific performance and
injunctive and other forms of equitable relief may be subject to equitable
defenses and to the discretion of the court before which any proceeding therefor
may be brought.
(c) The
execution and delivery of this Agreement by the Master Servicer, and the master
servicing of the Mortgage Loans by the Master Servicer under this Agreement,
the
consummation of any other of the transactions contemplated by this Agreement,
and the fulfillment of or compliance with the terms hereof are in the ordinary
course of business of the Master Servicer and will not (i) result in a
material breach of any term or provision of the articles of incorporation or
by
laws of the Master Servicer, (ii) materially conflict with, result in a
material breach, violation or acceleration of, or result in a material default
under, the terms of any other material agreement or instrument to which the
Master Servicer is a party or by which it may be bound, or (iii) constitute
a material violation of any statute, order or regulation applicable to the
Master Servicer of any court, regulatory body, administrative agency or
governmental body having jurisdiction over the Master Servicer; and the Master
Servicer is not in breach or violation of any material indenture or other
material agreement or instrument, or in violation of any statute, order or
regulation of any court, regulatory body, administrative agency or governmental
body having jurisdiction over it which breach or violation may materially impair
the Master Servicer’s ability to perform or meet any of its obligations under
this Agreement.
(d) The
Master Servicer or an affiliate thereof is an approved servicer of conventional
mortgage loans for Xxxxxx Xxx or Xxxxxxx Mac and is a mortgagee approved by
the
Secretary of Housing and Urban Development pursuant to Sections 203 and 211
of
the National Housing Act.
(e) No
litigation is pending, or to the knowledge of the Master Servicer, threatened
against the Master Servicer that would materially and adversely affect the
execution, delivery or enforceability of this Agreement or the ability of the
Master Servicer to master service the Mortgage Loans or to perform any of its
other obligations under this Agreement in accordance with the terms
thereof.
(f) No
consent, approval, authorization or, to the knowledge of the Master Servicer,
order of any court or governmental agency or body is required for the execution,
delivery and performance by the Master Servicer of, or compliance by the Master
Servicer with, this Agreement or the consummation of the transactions
contemplated thereby, or if any such consent, approval, authorization or order
is required, the Master Servicer has obtained the same.
Section
2.09 Representations
and Warranties of the Custodian. The Custodian hereby represents
and warrants to the Depositor, the Master Servicer, the Trust Administrator
and
the Trustee, as of the Closing Date, or if so specified herein, as of the
Cut-off Date:
(a) Such
Custodian is duly organized as a national banking association and is validly
existing and in good standing under the laws of the United States of America
and
is duly authorized and qualified to transact any and all business contemplated
by this Agreement to be conducted by such Custodian in any state in which a
Mortgaged Property is located or is otherwise not required under applicable
law
to effect such qualification and, in any event, is in compliance with the doing
business laws of any such state, to the extent necessary to perform any of
its
obligations under this Agreement in accordance with the terms
thereof.
(b) Such
Custodian has the full power and authority to execute, deliver and perform,
and
to enter into and consummate the transactions contemplated by this Agreement
and
has duly authorized by all necessary action on the part of such Custodian the
execution, delivery and performance of this Agreement; and this Agreement,
assuming the due authorization, execution and delivery thereof by the other
parties thereto, constitutes a legal, valid and binding obligation of such
Custodian, enforceable against such Custodian in accordance with its terms,
except that (i) the enforceability thereof may be limited by bankruptcy,
insolvency, moratorium, receivership and other similar laws relating to
creditors’ rights generally and (ii) the remedy of specific performance and
injunctive and other forms of equitable relief may be subject to equitable
defenses and to the discretion of the court before which any proceeding
therefore may be brought.
(c) The
execution and delivery of this Agreement by such Custodian, the consummation
of
any other of the transactions contemplated by this Agreement, and the
fulfillment of or compliance with the terms thereof are in the ordinary course
of business of such Custodian and will not (i) result in a material breach
of any term or provision of the articles of incorporation or by-laws of such
Custodian, (ii) materially conflict with, result in a material breach,
violation or acceleration of, or result in a material default under, the terms
of any other material agreement or instrument to which such Custodian is a
party
or by which it may be bound, or (iii) constitute a material violation of
any statute, order or regulation applicable to such Custodian of any court,
regulatory body, administrative agency or governmental body having jurisdiction
over such Custodian; and such Custodian is not in breach or violation of any
material indenture or other material agreement or instrument, or in violation
of
any statute, order or regulation of any court, regulatory body, administrative
agency or governmental body having jurisdiction over it which breach or
violation may materially impair such Custodian’s ability to perform or meet any
of its obligations under this Agreement.
(d) No
litigation is pending or, to the knowledge of such Custodian, threatened against
such Custodian that would materially and adversely affect the execution,
delivery or enforceability of this Agreement or the ability of such Custodian
to
perform any of its obligations under this Agreement in accordance with the
terms
thereof.
(e) No
consent, approval, authorization or order of any court or governmental agency
or
body is required for the execution, delivery and performance by such Custodian
of, or compliance by such Custodian with, this Agreement or the consummation
of
the transactions contemplated thereby, or if any such consent, approval,
authorization or order is required, such Custodian has obtained the
same.
ARTICLE
III
ADMINISTRATION
AND MASTER
SERVICING
OF MORTGAGE LOANS
Section
3.01 Master
Servicing of Mortgage Loans. For and on behalf of the
Certificateholders, the Master Servicer shall supervise, monitor and oversee
the
obligation of the Servicers to service and administer their respective Mortgage
Loans in accordance with the terms of the applicable Servicing Agreement and
shall have full power and authority to do any and all things which it may deem
necessary or desirable in connection with such master servicing and
administration. In performing its obligations hereunder, the Master
Servicer shall act in a manner consistent with this Agreement, subject to the
prior sentence, and with customary and usual standards of practice of prudent
mortgage loan master servicers. Furthermore, the Master Servicer
shall oversee and consult with each Servicer as necessary from time to time
to
carry out the Master Servicer’s obligations hereunder, shall receive, review and
evaluate all reports, information and other data provided to the Master Servicer
by each Servicer and shall cause each Servicer to perform and observe the
covenants, obligations and conditions to be performed or observed by such
Servicer under the applicable Servicing Agreement. The Master
Servicer shall independently and separately monitor each Servicer’s servicing
activities with respect to each related Mortgage Loan, reconcile the results
of
such monitoring with such information provided in the previous sentence on
a
monthly basis and coordinate corrective adjustments to the Servicers’ and Master
Servicer’s records, and based on such reconciled and corrected information,
prepare the statements specified in Section 4.04 and any other information
and statements required hereunder. The Master Servicer shall
reconcile the results of its Mortgage Loan monitoring with the actual
remittances of the Servicers to the Collection Account pursuant to the
applicable Servicing Agreements.
In
accordance with the standards of the preceding paragraph and to the extent
the
related Servicer does not make such advance, the Master Servicer shall advance
or cause to be advanced funds as necessary for the purpose of effecting the
payment of taxes and assessments on the Mortgaged Properties, which advances
shall be reimbursable in the first instance from related collections from the
Mortgagors pursuant to Section 3.07, and further as provided in
Section 3.08. The costs incurred by the Master Servicer, if any,
in effecting the timely payment of taxes and assessments on the Mortgaged
Properties and related insurance premiums shall not, for the purpose of
calculating monthly distributions to the Certificateholders, be added to the
Scheduled Principal Balances of the related Mortgage Loans, notwithstanding
that
the terms of such Mortgage Loans so permit.
Section
3.02 Monitoring
of Servicers. (a) The Master Servicer shall be
responsible for reporting to the Trustee, the Trust Administrator and the
Depositor the compliance by each Servicer with its duties under the related
Servicing Agreement. In the review of each Servicer’s activities, the
Master Servicer may rely upon an officer’s certificate of the Servicer with
regard to such Servicer’s compliance with the terms of its Servicing
Agreement. In the event that the Master Servicer, in its judgment,
determines that a Servicer should be terminated in accordance with its Servicing
Agreement, or that a notice should be sent pursuant to such Servicing Agreement
with respect to the occurrence of an event that, unless cured, would constitute
grounds for such termination, the Master Servicer shall notify the Depositor,
the Trust Administrator and the Trustee thereof and the Master Servicer shall
issue such notice or take such other action as it deems
appropriate.
(b) The
Master Servicer, for the benefit of the Trustee, the Trust Administrator and
the
Certificateholders, shall enforce the obligations of each Servicer under the
related Servicing Agreement, and shall, in the event that a Servicer fails
to
perform its obligations in accordance with the related Servicing Agreement,
subject to the preceding paragraph, terminate the rights and obligations of
such
Servicer thereunder and act as successor Servicer of the related Mortgage Loans
or cause the Trustee to enter into a new Servicing Agreement with a successor
Servicer selected by the Master Servicer; provided, however, it is
understood and acknowledged by the parties hereto that there will be a period
of
transition (not to exceed 90 days) before the actual servicing functions
can be fully transferred to such successor Servicer. Such
enforcement, including, without limitation, the legal prosecution of claims,
termination of Servicing Agreements and the pursuit of other appropriate
remedies, shall be in such form and carried out to such an extent and at such
time as the Master Servicer, in its good faith business judgment, would require
were it the owner of the related Mortgage Loans. The Master Servicer
shall pay the costs of such enforcement at its own expense, provided that
the Master Servicer shall not be required to prosecute or defend any legal
action except to the extent that the Master Servicer shall have received
reasonable indemnity for its costs and expenses in pursuing such
action.
(c) To
the
extent that the costs and expenses of the Master Servicer related to any
termination of a Servicer, appointment of a successor Servicer or the transfer
and assumption of servicing by the Master Servicer with respect to any Servicing
Agreement (including, without limitation, (i) all legal costs and expenses
and all due diligence costs and expenses associated with an evaluation of the
potential termination of the Servicer as a result of an event of default by
such
Servicer and (ii) all costs and expenses associated with the complete
transfer of servicing, including all servicing files and all servicing data
and
the completion, correction or manipulation of such servicing data as may be
required by the successor servicer to correct any errors or insufficiencies
in
the servicing data or otherwise to enable the successor servicer to service
the
Mortgage Loans in accordance with the related Servicing Agreement) are not
fully
and timely reimbursed by the terminated Servicer, the Master Servicer shall
be
entitled to reimbursement of such costs and expenses from the Collection
Account.
(d) The
Master Servicer shall (or if the Master Servicer is the Servicer, the Trustee
upon receipt of written notice) require each Servicer to comply with the
remittance requirements and other obligations set forth in the related Servicing
Agreement.
(e) If
the
Master Servicer acts as Servicer, it will not assume liability for the
representations and warranties of the Servicer, if any, that it
replaces.
(f) If
a
Servicer fails to make its required payment of Compensating Interest on any
Distribution Date, the Master Servicer will be required to make such payment
of
Compensating Interest to the same extent that such Servicer was required to
make
such payment of Compensating Interest.
(g) To
the
extent a Servicer requests the consent of the Trust or the Master Servicer
with
respect to any servicing-related matter for which the applicable Servicer is
required to seek consent under the applicable Servicing Agreement or Assignment
Agreement, the Master Servicer shall promptly or within the time frame specified
in such Servicing Agreement or Assignment Agreement, if any, evaluate such
request for consent in the best interest of the Trust and the
Certificateholders, and grant or withhold such consent accordingly.
(h) To
the
extent a Servicer is obligated under the related Servicing Agreement to procure
the consent of the Master Servicer in connection with the Servicer’s engagement
of a Subservicer to perform any servicing responsibilities under the related
Servicing Agreement with respect to the related Mortgage Loans, the Master
Servicer will only give such consent if that Subservicer first agrees in writing
with such Servicer and the Master Servicer to deliver an Annual Statement of
Compliance, an Assessment of Compliance and an Accountant’s Attestation in such
manner and at such times that permit that Servicer and the Master Servicer
to
comply with Sections 3.21 and 3.22 of this Agreement.
(i) The
Master Servicer (or if the Master Servicer is the Servicer, the Trustee upon
receipt of written notice) shall enforce any negative covenant in the related
Servicing Agreement which prohibits a Servicer from outsourcing one or more
separate servicing functions under the related Servicing Agreement with respect
to the Mortgage Loans to any Subcontractor unless that Subcontractor first
agrees in writing with such Servicer and the Master Servicer to deliver an
Assessment of Compliance and an Accountant’s Attestation in such manner and at
such times that permits that Servicer and the Master Servicer to comply with
Section 3.22 of this Agreement.
Section
3.03 [Reserved].
Section
3.04 Rights
of the Depositor and the Trustee in Respect of the Master
Servicer. The Depositor may, but is not obligated to, enforce the
obligations of the Master Servicer hereunder and may, but is not obligated
to,
perform, or cause a designee to perform, any defaulted obligation of the Master
Servicer hereunder and in connection with any such defaulted obligation to
exercise the related rights of the Master Servicer hereunder; provided
that the Master Servicer shall not be relieved of any of its obligations
hereunder by virtue of such performance by the Depositor or its
designee. Neither the Trustee nor the Depositor shall have any
responsibility or liability for any action or failure to act by the Master
Servicer or any Servicer nor shall the Trustee or the Depositor be obligated
to
supervise the performance of the Master Servicer hereunder or any Servicer
under
any Servicing Agreement or otherwise.
Section
3.05 Trustee
to Act as Master Servicer. In the event that the Master Servicer
shall for any reason no longer be the Master Servicer hereunder (including
by
reason of a Master Servicer Event of Termination), the Trustee or its successor
shall in accordance with Section 7.02 thereupon assume all of the rights and
obligations of the Master Servicer hereunder arising thereafter (except that
the
Trustee shall not be (i) liable for losses of the predecessor Master Servicer
pursuant to Section 3.09 hereof (or any acts or omissions of the predecessor
Master Servicer hereunder), (ii) obligated to make Advances if it is prohibited
from doing so by applicable law, (iii) obligated to effectuate repurchases
or
substitutions of Mortgage Loans hereunder including, but not limited to,
repurchases or substitutions of Mortgage Loans pursuant to Section 2.02 or
2.03
hereof, (iv) responsible for expenses of the Master Servicer pursuant to Section
2.03 hereof, (v) deemed to have made any representations and warranties of
the
Master Servicer pursuant to Section 2.09 hereunder or (vi) obligated to perform
any obligation of the Master Servicer under Section 3.21, 3.22 or 8.12 with
respect to any period of time the Trustee was not the Master
Servicer). Any such assumption shall be subject to Section 7.02
hereof. If the Master Servicer shall for any reason no longer be the
Master Servicer (including by reason of any Master Servicer Event of
Termination), the Trustee or its successor may, but shall not be obligated
to,
succeed to any rights and obligations of the Master Servicer under each
subservicing agreement.
The
Master Servicer shall, upon request of the Trustee, but at the expense of the
Master Servicer, deliver to the assuming party all documents and records
relating to each subservicing agreement or substitute subservicing agreement
and
the Mortgage Loans then being serviced thereunder and an accounting of amounts
collected or held by it and otherwise use its best efforts to effect the orderly
and efficient transfer of each subservicing agreement or substitute subservicing
agreement to the assuming party.
The
Trustee or successor master servicer shall be entitled to be reimbursed from
the
Master Servicer for all costs associated with the transfer of master servicing
from the Master Servicer, including, without limitation, any costs or expenses
associated with the complete transfer of all master servicing data and the
completion, correction or manipulation of such master servicing data as may
be
required by the Trustee or successor master servicer to correct any errors
or
insufficiencies in the master servicing data or otherwise to enable the Trustee
or successor master servicer to master service the Mortgage Loans properly
and
effectively.
If
the
Master Servicer does not pay such reimbursement within thirty (30) days of
its receipt of an invoice therefor, such reimbursement shall be an expense
of
the Trust and the Trustee shall be entitled to withdraw such reimbursement
from
amounts on deposit in the Distribution Account pursuant to
Section 3.10(b)(iii); provided that the Master Servicer shall
reimburse the Trust for any such expense incurred by the Trust.
Section
3.06 Protected
Accounts. (a) The Master Servicer shall enforce the
obligation of each Servicer to establish and maintain a Protected Account in
accordance with the applicable Servicing Agreement, with records to be kept
with
respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts
shall be deposited within 48 hours (or as of such other time specified in the
related Servicing Agreement) of receipt all collections of principal and
interest on any Mortgage Loan or amounts received with respect to any REO
Property, including Principal Prepayments, Insurance Proceeds, Liquidation
Proceeds, and advances made from the Servicer’s own funds (less servicing
compensation as permitted by the applicable Servicing Agreement in the case
of
any Servicer) and all other amounts to be deposited in the Protected
Account. The Master Servicer is hereby authorized to make withdrawals
from and deposits to the related Protected Account for purposes required or
permitted by this Agreement.
(b) In
accordance with the terms of the applicable Servicing Agreement, amounts on
deposit in a Protected Account are required to be invested by the applicable
Servicer in Permitted Investments. The income earned from investments
made pursuant to this Section 3.06 shall be paid to the related Servicer
under the applicable Servicing Agreement, and the risk of loss of moneys
required to be distributed to the Certificateholders resulting from such
investments shall be borne by and be the risk of the related
Servicer. The related Servicer (to the extent provided in the
Servicing Agreement) shall deposit the amount of any such loss in the Protected
Account within two Business Days of receipt of notification of such loss but
not
later than the second Business Day prior to the Distribution Date on which
the
moneys so invested are required to be distributed to the
Certificateholders.
Section
3.07 Collection
of Mortgage Loan Payments; Collection Account; Distribution
Account. (a) The Master Servicer shall enforce the
obligation of the Servicers to collect all payments called for under the terms
and provisions of the Mortgage Loans to the extent such procedures shall be
consistent with the applicable Servicing Agreement and the terms and provisions
of any related Required Insurance Policy.
(b) The
Master Servicer shall establish and maintain a Collection Account, which may
be
deemed to be a sub account of the Distribution Account, into which the Master
Servicer shall deposit or cause to be deposited within two Business Days of
receipt, except as otherwise specifically provided herein, the following
payments and collections remitted by the Servicers, or received by it in respect
of Mortgage Loans subsequent to the Cut-off Date (other than in respect of
principal and interest due on the Mortgage Loans on or before the Cut-off Date)
and the following amounts required to be deposited hereunder:
(i) all
payments on account of principal on the Mortgage Loans, including Principal
Prepayments;
(ii) all
payments on account of interest on the Mortgage Loans, net of the related
Servicing Fee and Incremental Interest;
(iii) all
Liquidation Proceeds (including Insurance Proceeds), other than proceeds to
be
applied to the restoration or repair of the Mortgaged Property or released
to
the Mortgagor in accordance with the applicable Servicer’s or Master Servicer’s
normal servicing procedures, and all Recoveries;
(iv) any
amount required to be deposited by the Master Servicer pursuant to
Section 3.07(e) in connection with any losses on Permitted
Investments;
(v) any
amounts required to be deposited by the Master Servicer pursuant to
Section 3.15(b) and 3.15(d), and in respect of net monthly rental income
from REO Property pursuant to Section 3.15 hereof;
(vi) all
Substitution Adjustment Amounts;
(vii) all
Advances made by the Master Servicer pursuant to Section 4.01;
(viii) any
Class
P Prepayment Charges;
(ix) any
Compensating Interest payments;
(x) any
amounts deposited by the Master Servicer in connection with a deductible clause
in any blanket hazard insurance policy in respect of the Mortgage Loans in
such
Loan Group;
(xi) all
proceeds of a primary mortgage guaranty insurance policy in respect of the
Mortgage Loans in such Loan Group; and
(xii) any
other
amounts required to be deposited hereunder.
In
the
event that the Master Servicer shall deposit into the Collection Account any
amount not required to be deposited, it may at any time withdraw such amount
from the Collection Account, any provision herein to the contrary
notwithstanding. The Master Servicer shall maintain adequate records
with respect to all withdrawals made pursuant to this Section. All
funds deposited in the Collection Account shall be held in trust for the
Certificateholders until withdrawn in accordance with
Section 3.10.
(c) [Reserved].
(d) The
Trust
Administrator shall establish and maintain, on behalf of the Certificateholders,
the Distribution Account. The Trust Administrator shall, promptly
upon receipt but no later than on the Distribution Account Deposit Date, deposit
in the Distribution Account and retain therein the following:
(i) the
aggregate amount remitted by the Master Servicer to the Trust Administrator
pursuant to Section 3.10(a)(ix)(A);
(ii) any
amount deposited by the Master Servicer or the Trust Administrator pursuant
to
Section 3.07(e) in connection with any losses on Permitted Investments;
and
(iii) any
other
amounts described hereunder which are required to be deposited in the
Distribution Account.
In
the
event that the Master Servicer shall remit any amount not required to be
remitted, it may at any time direct the Trust Administrator in writing to
withdraw such amount from the Distribution Account, any provision herein to
the
contrary notwithstanding. Such direction may be accomplished by
delivering an Officer’s Certificate to the Trust Administrator which describes
the amounts deposited in error in the Distribution Account. All funds
deposited in the Distribution Account shall be held by the Trust Administrator
in trust for the Certificateholders until disbursed in accordance with this
Agreement or withdrawn in accordance with Section 3.10(b). In no
event shall the Trust Administrator incur liability for withdrawals from the
Distribution Account at the direction of the Master Servicer.
(e) Each
institution at which the Collection Account or Distribution Account is
maintained shall invest the funds on deposit in the Collection Account, as
directed in writing by the Master Servicer, or the Distribution Account, as
directed in writing by the Trust Administrator, in Permitted
Investments. Funds invested in the Collection Account shall mature
not later than the Business Day next preceding the related Distribution Account
Deposit Date (except that if such Permitted Investment is an obligation of
or is
managed by the institution that maintains, or is the custodian for, such
account, then such Permitted Investment shall mature not later than such
Distribution Account Deposit Date). Permitted Investments in respect
of the Collection Account or the Distribution Account shall not be sold or
disposed of prior to their maturity. All such Permitted Investments
shall be made in the name of the Trustee, for the benefit of the
Certificateholders. All income and gain net of any losses realized
from any such investment of funds on deposit in the Collection Account shall
be
for the benefit of the Master Servicer as Master Servicing Compensation and
shall be remitted to it monthly as provided herein. The amount of any
realized losses in the Collection Account incurred in any such account in
respect of any such investments shall promptly be deposited by the Master
Servicer (from its own funds without any right of reimbursement) in the
Collection Account or paid to the Trust Administrator by wire transfer of
immediately available funds for deposit into the Distribution
Account. All income and gain (net of any losses realized from any
such investment of funds on deposit in the Distribution Account) shall be for
the benefit of the Trust Administrator as compensation and shall be remitted
to
it monthly as provided herein. The amount of any realized losses in
the Distribution Account incurred in any such account in respect of any such
investments shall promptly be deposited by the Trust Administrator, in the
Distribution Account. The Trust Administrator shall not be liable for
the amount of any loss incurred in respect of any investment or lack of
investment of funds held in the Collection Account (except to the extent the
Trust Administrator is the obligor and has defaulted thereon), or the
Distribution Account, and made in accordance with this
Section 3.07. In the absence of written instructions by the
Trust Administrator, all funds on deposit therein shall remain
uninvested.
(f) The
Master Servicer shall give notice to the Trustee, the Trust Administrator,
each
Rating Agency and the Depositor of any proposed change of the location of the
Collection Account prior to any change thereof. The Trust
Administrator shall give notice to the Trustee, the Master Servicer, each Rating
Agency and the Depositor of any proposed change of the location of the
Distribution Account prior to any change thereof.
(g) Each
of
the Collection Account and Distribution Account, shall at all times be an
Eligible Account, provided, that the Collection Account may be deemed to
be a sub-account of the Distribution Account. If at any time either
the Collection Account, or Distribution Account, as applicable, ceases to be
an
Eligible Account, the Master Servicer or the Trust Administrator, as applicable,
shall immediately establish and maintain a new Collection Account or
Distribution Account, as applicable, that is an Eligible Account, and shall
immediately transfer all funds on deposit in the former Collection Account
or
Distribution Account, as applicable, to the new Collection Account or
Distribution Account, as applicable.
Section
3.08 Collection
of Taxes, Assessments and Similar Items; Escrow Accounts. To the
extent required by the related Servicing Agreement and by the related Mortgage
Note and not violative of current law, the Master Servicer shall require each
Servicer to establish and maintain one or more accounts (each, an “Escrow
Account”) and deposit and retain therein all collections from the Mortgagors
(or advances by such Servicer) for the payment of taxes, assessments, hazard
insurance premiums or comparable items for the account of the
Mortgagors. Nothing herein shall require the Master Servicer to
compel a Servicer to establish an Escrow Account in violation of applicable
law.
Section
3.09 Access
to Certain Documentation and Information Regarding the Mortgage
Loans. The Master Servicer and the Custodian shall afford and the
Master Servicer shall require the Servicers to afford the Depositor, the Trustee
and the Trust Administrator and their respective agents or representatives
reasonable access to all records and documentation regarding the Mortgage Loans
and all accounts, insurance information and other matters relating to this
Agreement or the Servicing Agreement, such access being afforded without charge,
but only upon reasonable request and during normal business hours at the office
designated by the Master Servicer, the applicable Servicer or the Custodian
to
the extent set forth in the applicable Servicing Agreement.
Upon
reasonable advance notice in writing, the Master Servicer and the Custodian
will
provide or the Master Servicer shall require the Servicers, to the extent set
forth in the applicable Servicing Agreement, to provide to each
Certificateholder which is a savings and loan association, bank or insurance
company certain reports and reasonable access to information and documentation
regarding the Mortgage Loans sufficient to permit such Certificateholder to
comply with applicable regulations of the OTS or other regulatory authorities
with respect to investment in the Certificates; provided, that the Master
Servicer, the applicable Servicer or the Custodian shall be entitled to be
reimbursed by each such Certificateholder for actual expenses incurred by the
Master Servicer, the applicable Servicer or the Custodian in providing such
reports and access.
Section
3.10 Permitted
Withdrawals from the Collection Account and Distribution
Account. (a) The Master Servicer may from time to time
make withdrawals from the Collection Account for the following
purposes:
(i) to
pay to
the Servicers (to the extent not previously retained by them), the servicing
compensation to which they are entitled pursuant to the applicable Servicing
Agreements, and to pay to the Master Servicer, earnings on or investment income
with respect to funds in or credited to the Collection Account;
(ii) to
reimburse each of the Servicers or the Master Servicer for unreimbursed Advances
made by it, such right of reimbursement pursuant to this sub-clause (ii)
being limited to amounts received on the Mortgage Loan(s) in respect of which
any such Advance was made;
(iii) to
reimburse the Servicers or the Master Servicer for any Nonrecoverable Advance
previously made;
(iv) to
reimburse the Servicers or the Master Servicer for Insured Expenses from the
related Insurance Proceeds;
(v) to
reimburse the Servicers or the Master Servicer for (a) unreimbursed
Servicing Advances, the Servicers’ or the Master Servicer’s right to
reimbursement pursuant to this clause (a) with respect to any Mortgage Loan
being limited to amounts received on such Mortgage Loan(s) which represent
late
recoveries of the payments for which such advances were made pursuant to
Section 3.01 or Section 4.01 and (b) for unpaid Servicing Fees as
provided in Section 3.15 hereof;
(vi) to
pay to
the purchaser, with respect to each Mortgage Loan or property acquired in
respect thereof that has been purchased pursuant to Section 2.02 or 2.03,
all amounts received thereon after the date of such purchase;
(vii) to
reimburse the Transferor, the Master Servicer or the Depositor for expenses
or
indemnities incurred by any of them and reimbursable pursuant to
Section 6.03 hereof;
(viii) to
withdraw any amount deposited in the Collection Account and not required to
be
deposited therein;
(ix) on
or
prior to the Distribution Account Deposit Date, to (A) withdraw (i) an
amount equal to the related Available Funds for such Distribution Date and
(ii) on or after the Cross-Over Date only, any Recoveries received during
the related Prepayment Period, and remit by wire transfer of immediately
available funds such amounts to the Trust Administrator for deposit in the
Distribution Account and (B) withdraw any Class P Prepayment Charges
received and remit by wire transfer of immediately available funds such amounts
to the Trust Administrator for deposit into the Distribution
Account;
(x) to
reimburse the Master Servicer for any costs or expenses incurred by it and
reimbursable pursuant to Section 3.02; and
(xi) to
clear
and terminate the Collection Account upon termination of this Agreement pursuant
to Section 10.01 hereof.
The
Master Servicer shall keep and maintain separate accounting, on a Mortgage
Loan
by Mortgage Loan basis, for the purpose of justifying any withdrawal from the
Collection Account pursuant to such sub-clauses (i), (ii), (iv), (v) and
(vi). Prior to making any withdrawal from the Collection Account
pursuant to sub-clause (iii), the Master Servicer shall deliver to the
Trust Administrator an Officer’s Certificate of a Master Servicing Officer
indicating the amount of any previous Advance determined by the Master Servicer
to be a Nonrecoverable Advance and identifying the related Mortgage Loans(s),
and their respective portions of such Nonrecoverable Advance.
(b) The
Trust
Administrator shall withdraw funds from the Distribution Account for
distributions to Certificateholders, in the manner specified in this Agreement
(and withhold from the amounts so withdrawn, the amount of any taxes that it
is
authorized to withhold pursuant to the last paragraph of
Section 8.11). In addition, the Trust Administrator may from
time to time make withdrawals from the Distribution Account for the following
purposes:
(i) to
pay to
the Trust Administrator earnings on or investment income, if any with respect
to
funds in or credited to the Distribution Account;
(ii) to
withdraw and return to the Master Servicer any amount deposited in the
Distribution Account and not required to be deposited therein in accordance
with
Section 3.07(d);
(iii) to
withdraw any indemnity, expense or other reimbursement owed to it or the Trustee
pursuant to this Agreement, including, without limitation, Section 3.05,
Section 7.02, Section 8.05 and Section 9.05; and
(iv) to
clear
and terminate the Distribution Account upon termination of the Agreement
pursuant to Section 10.01 hereof.
Section
3.11 Maintenance
of Hazard Insurance. (a) For each Mortgage Loan, the
Master Servicer shall enforce any obligation of the Servicers under the related
Servicing Agreements to maintain or cause to be maintained standard fire and
casualty insurance and, where applicable, flood insurance, all in accordance
with the provisions of the related Servicing Agreements. It is
understood and agreed that such insurance shall be with insurers meeting the
eligibility requirements set forth in the applicable Servicing Agreement and
that no earthquake or other additional insurance is to be required of any
Mortgagor or to be maintained on property acquired in respect of a defaulted
loan, other than pursuant to such applicable laws and regulations as shall
at
any time be in force and as shall require such additional
insurance.
(b) Pursuant
to Sections 3.07 and 3.08, any amounts collected by the Master Servicer, or
by
any Servicer, under any insurance policies (other than amounts to be applied
to
the restoration or repair of the property subject to the related Mortgage or
released to the Mortgagor in accordance with the applicable Servicing Agreement)
shall be deposited into the Collection Account, subject to withdrawal pursuant
to Sections 3.07 and 3.08. Any cost incurred by the Master Servicer
or any Servicer in maintaining any such insurance if the Mortgagor defaults
in
its obligation to do so shall be added to the amount owing under the Mortgage
Loan where the terms of the Mortgage Loan so permit; provided,
however, that the addition of any such cost shall not be taken into
account for purposes of calculating the distributions to be made to
Certificateholders and shall be recoverable by the Master Servicer or such
Servicer pursuant to Sections 3.07 and 3.08.
Section
3.12 Presentment
of Claims and Collection of Proceeds. The Master Servicer shall
(to the extent provided in the applicable Servicing Agreement) cause the related
Servicer to prepare and present on behalf of the Trustee and the
Certificateholders all claims under the Insurance Policies and take such actions
(including the negotiation, settlement, compromise or enforcement of the
insured’s claim) as shall be necessary to realize recovery under such
policies. Any proceeds disbursed to the Master Servicer (or disbursed
to a Servicer and remitted to the Master Servicer) in respect of such policies,
bonds or contracts shall be promptly deposited in the Collection Account upon
receipt, except that any amounts realized that are to be applied to the repair
or restoration of the related Mortgaged Property as a condition precedent to
the
presentation of claims on the related Mortgage Loan to the insurer under any
applicable Insurance Policy need not be so deposited (or remitted).
Section
3.13 Maintenance
of the Primary Insurance Policies. (a) The Master
Servicer shall not take, or permit any Servicer (to the extent such action
is
prohibited under the applicable Servicing Agreement) to take, any action that
would result in noncoverage under any applicable Primary Insurance Policy of
any
loss which, but for the actions of such Master Servicer or Servicer, would
have
been covered thereunder. The Master Servicer shall use its best
reasonable efforts to cause each Servicer (to the extent required under the
related Servicing Agreement) to keep in force and effect (to the extent that
the
Mortgage Loan requires the Mortgagor to maintain such insurance), primary
mortgage insurance applicable to each Mortgage Loan in accordance with the
provisions of this Agreement and the related Servicing Agreement, as
applicable. The Master Servicer shall not, and shall not permit any
Servicer (to the extent required under the related Servicing Agreement) to,
cancel or refuse to renew any such Primary Insurance Policy that is in effect
at
the date of the initial issuance of the Mortgage Note and is required to be
kept
in force hereunder except in accordance with the provisions of this Agreement
and the related Servicing Agreement, as applicable.
(b) The
Master Servicer agrees to present, or to cause each Servicer (to the extent
required under the related Servicing Agreement) to present, on behalf of the
Trustee and the Certificateholders, claims to the insurer under any Primary
Insurance Policies and, in this regard, to take such reasonable action as shall
be necessary to permit recovery under any Primary Insurance Policies respecting
defaulted Mortgage Loans. Pursuant to Sections 3.07 and 3.08, any
amounts collected by the Master Servicer or any Servicer under any Primary
Mortgage Insurance Policies shall be deposited in the Collection Account,
subject to withdrawal pursuant to Sections 3.07 and 3.08.
Section
3.14 Realization
upon Defaulted Mortgage Loans. The Master Servicer shall cause
each Servicer (to the extent required under the related Servicing Agreement)
to
foreclose upon, repossess or otherwise comparably convert the ownership of
Mortgaged Properties securing such of the Mortgage Loans as come into and
continue in default and as to which no satisfactory arrangements can be made
for
collection of delinquent payments, all in accordance with the applicable
Servicing Agreement.
Section
3.15 REO
Property. (a) In the event the Trust Fund acquires
ownership of any REO Property in respect of any related Mortgage Loan, the
deed
or certificate of sale shall be issued to the Trustee, or to its nominee, on
behalf of the related Certificateholders. The Master Servicer shall,
to the extent provided in the applicable Servicing Agreement, cause the
applicable Servicer to sell any REO Property as expeditiously as possible and
in
accordance with the provisions of this Agreement and the related Servicing
Agreement, as applicable. Pursuant to its efforts to sell such REO
Property, the Master Servicer shall cause the applicable Servicer to protect
and
conserve such REO Property in the manner and to the extent required by the
applicable Servicing Agreement, subject to the REMIC Provisions.
(b) The
Master Servicer shall, to the extent required by the related Servicing
Agreement, cause the applicable Servicer to deposit all funds collected and
received in connection with the operation of any REO Property in the Protected
Account.
(c) The
Master Servicer and the applicable Servicer, upon the final disposition of
any
REO Property, shall be entitled to reimbursement for any related unreimbursed
Advances and other unreimbursed advances as well as any unpaid Servicing Fees
from Liquidation Proceeds received in connection with the final disposition
of
such REO Property; provided, that any such unreimbursed Advances as well
as any unpaid Servicing Fees may be reimbursed or paid, as the case may be,
prior to final disposition, out of any net rental income or other net amounts
derived from such REO Property.
(d) The
Liquidation Proceeds from the final disposition of the REO Property, net of
any
payment to the Master Servicer and the applicable Servicer as provided above
shall be deposited in the Protected Account on or prior to the Determination
Date in the month following receipt thereof and be remitted by wire transfer
in
immediately available funds to the Master Servicer for deposit into the
Collection Account.
In
the
event that the Trust Fund acquires any Mortgaged Property as aforesaid or
otherwise in connection with a default or imminent default on a Mortgage Loan,
the Master Servicer shall enforce the obligation of the related Servicer to
dispose of such Mortgaged Property prior to the close of the third calendar
year
after the year in which the Trust Fund acquires such Mortgaged Property unless
the Servicer shall have applied for and received an extension of such period
from the Internal Revenue Service, in which case the Trust Fund may continue
to
hold such Mortgaged Property for the period of such
extension. Notwithstanding any other provision of this Agreement, no
Mortgaged Property acquired by the Trust Fund shall be rented (or allowed to
continue to be rented) or otherwise used for the production of income by or
on
behalf of the Trust Fund in such a manner or pursuant to any terms that would
(i) cause such Mortgaged Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code or
(ii) subject any REMIC hereunder to the imposition of any federal, state or
local income taxes on the income earned from such Mortgaged Property under
Section 860G(c) of the Code or otherwise, unless the Master Servicer
or related Servicer, as applicable, has agreed to indemnify and hold harmless
the Trust Fund with respect to the imposition of any such taxes.
In
the
event of a default on a Mortgage Loan one or more of whose obligors is not
a
United States Person, as that term is defined in Section 7701(a)(30) of the
Code, in connection with any foreclosure or acquisition of a deed-in-lieu of
foreclosure (together, “foreclosure”) in respect of such Mortgage Loan,
the Master Servicer will cause the applicable Servicer to comply with the
provisions of Treasury Regulation Section 1.1445 2(d)(3) (or any successor
provision thereto) necessary to assure that no withholding tax obligation arises
with respect to the proceeds of such foreclosure except to the extent, if any,
that proceeds of such foreclosure are required to be remitted to the obligors on
such Mortgage Loan.
Section
3.16 Due
on
Sale Clauses; Assumption Agreements. To the extent provided in
the applicable Servicing Agreement, to the extent Mortgage Loans contain
enforceable due-on-sale clauses, the Master Servicer shall cause the Servicers
to enforce such clauses in accordance with the applicable Servicing
Agreement. If applicable law prohibits the enforcement of a
due-on-sale clause or such clause is otherwise not enforced in accordance with
the applicable Servicing Agreement, and, as a consequence, a Mortgage Loan
is
assumed, the original Mortgagor may be released from liability in accordance
with the applicable Servicing Agreement.
Section
3.17 Trustee
to Cooperate; Release of Mortgage Files. Upon (i) the
payment in full of any Mortgage Loan, or (ii) the receipt by the Master
Servicer of a notification that payment in full will be escrowed in a manner
customary for such purposes or otherwise in connection with the servicing of
any
Mortgage Loan, the Master Servicer shall, upon receipt of notification from
the
related Servicer pursuant to the applicable Servicing Agreement, which
notification shall state that such payment in full has been deposited in the
Collection Account or has otherwise been escrowed in a manner customary for
such
purposes, instruct the Custodian to, and the Custodian shall release the related
Mortgage File to the related Servicer. Upon notification, the Trustee
shall at the Custodian’s direction execute and deliver to the Custodian the
request for reconveyance, deed of reconveyance or release or satisfaction of
mortgage or such instrument releasing the lien of the Mortgage in each case
provided by the Custodian, together with the Mortgage Note with written evidence
of cancellation thereon. Expenses incurred in connection with any
instrument of satisfaction or deed of reconveyance shall be chargeable to the
related Mortgagor.
If
the
Master Servicer or any related Servicer at any time seeks to initiate a
foreclosure proceeding in respect of any Mortgaged Property as authorized by
this Agreement or the Servicing Agreements, the Master Servicer or any related
Servicer shall deliver or cause to be delivered to the Trustee, for signature,
as appropriate, any court pleadings, requests for trustee’s sale or other
documents necessary to effectuate such foreclosure or any legal action brought
to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage
or
to obtain a deficiency judgment or to enforce any other remedies or rights
provided by the Mortgage Note or the Mortgage or otherwise available at law
or
in equity.
Subject
to this Section 3.17, the Trustee shall execute, at the written request of
the
Master Servicer, and furnish to the Master Servicer and any Servicer such
documents as are necessary or appropriate to enable the Master Servicer or
any
Servicer to carry out their servicing and administrative duties
hereunder. The Trustee shall not be liable for the actions of the
Master Servicer or any Servicers under such powers of attorney.
Section
3.18 Documents,
Records and Funds in Possession of the Master Servicer and the Custodian to
Be
Held for the Trustee. Notwithstanding any other provisions of
this Agreement, the Master Servicer shall forward to the Custodian with an
instruction to, and the Custodian shall, place within the Mortgage File and
the
Master Servicer shall cause each Servicer to transmit to the Custodian as
required by this Agreement and the related Servicing Agreement all documents
and
instruments in respect of a Mortgage Loan coming into the possession of the
Master Servicer or related Servicer from time to time and shall account fully
to
the Trustee for any funds received by the Master Servicer or related Servicer
or
which otherwise are collected by the Master Servicer or related Servicer as
Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage
Loan. All Mortgage Files and funds collected or held by, or under the
control of, the Master Servicer, the related Servicer or the Custodian in
respect of any Mortgage Loans, whether from the collection of principal and
interest payments or from Liquidation Proceeds, including but not limited to,
any funds on deposit in the Collection Account or any Protected Account, shall
be held by the Master Servicer, the related Servicer or the Custodian for and
on
behalf of the Trustee and shall be and remain the sole and exclusive property
of
the Trust, subject to the applicable provisions of this Agreement and the
related Servicing Agreement. Each of the Master Servicer and the
Custodian also agrees that it shall not create, incur or subject any Mortgage
File or any funds that are deposited in the Collection Account, Distribution
Account or any Escrow Account, or any funds that otherwise are or may become
due
or payable to the Trustee for the benefit of the Certificateholders, to any
claim, lien, security interest, judgment, levy, writ of attachment or other
encumbrance, or assert by legal action or otherwise any claim or right of setoff
against any Mortgage File or any funds collected on, or in connection with,
a
Mortgage Loan, except, however, that the Master Servicer shall be entitled
to
set off against and deduct from any such funds any amounts that are properly
due
and payable to the Master Servicer under this Agreement.
Section
3.19 Master
Servicing Compensation. As compensation for its activities
hereunder, the Master Servicer shall be entitled to retain or withdraw from
the
Collection Account an amount equal to the Master Servicing
Compensation.
Section
3.20 Access
to Certain Documentation. The Master Servicer and the Custodian
shall provide and the Master Servicer shall cause each Servicer to provide
in
accordance with the related Servicing Agreement to the OTS and the FDIC and
to
comparable regulatory authorities supervising Holders of Subordinate
Certificates and the examiners and supervisory agents of the OTS, the FDIC
and
such other authorities, access to the documentation regarding the Mortgage
Loans
required by applicable regulations of the OTS and the FDIC. Such
access shall be afforded without charge, but only upon reasonable and prior
written request and during normal business hours at the offices designated
by
the Master Servicer, the Custodian and the related Servicer. Nothing
in this Section shall limit the obligation of the Master Servicer, the Custodian
and the related Servicer to observe any applicable law prohibiting disclosure
of
information regarding the Mortgagors and the failure of the Master Servicer,
the
Custodian or the related Servicer to provide access as provided in this
Section as a result of such obligation shall not constitute a breach of
this Section. In fulfilling such requests, the Master Servicer and
the Custodian shall not be responsible to determine the sufficiency of such
information.
Section
3.21 Annual
Statement as to Compliance.
(a) The
Master Servicer and the Trust Administrator shall deliver or otherwise make
available (and the Master Servicer and Trust Administrator shall cause any
Servicing Function Participant engaged by it to deliver) to the Depositor and
the Trust Administrator on or before March 10 (with a 5 calendar day cure period
but in no event later than March 15) of each year, commencing in March 2008,
an
Officer’s Certificate stating, as to the signer thereof, that (A) a review of
such party’s activities during the preceding calendar year or portion thereof
and of such party’s performance under this Agreement or such other applicable
Agreement in the case of a Servicing Function Participant, has been made under
such officer’s supervision and (B) to the best of such officer’s knowledge,
based on such review, such party has fulfilled all its obligations under this
Agreement, in all material respects throughout such year or portion thereof,
or,
if there has been a failure to fulfill any such obligation in any material
respect, specifying each such failure known to such officer and the nature
and
status thereof. Promptly after receipt of each such Officer’s
Certificate, the Depositor shall review such Officer’s Certificate and, if
applicable, consult with each such party, as applicable, as to the nature of
any
failures by such party, in the fulfillment of any of such party’s obligations
hereunder.
(b) The
Master Servicer shall enforce any obligation of each Servicer, to the extent
set
forth in the related Servicing Agreement, to deliver to the Master Servicer
an
annual statement of compliance within the time frame set forth in, and in such
form and substance as may be required pursuant to, the related Servicing
Agreement. The Master Servicer shall include all annual statements of
compliance received by it from each servicer with its own annual statement
of
compliance to be submitted to the Trust Administrator pursuant to this
Section.
(c) In
the
event the Master Servicer, the Trust Administrator or any Servicing Function
Participant engaged by any such party is terminated or resigns pursuant to
the
terms of this Agreement, or any applicable agreement in the case of a Servicing
Function Participant, as the case may be, such party shall provide an Officer’s
Certificate pursuant to this Section 3.21 or to such applicable agreement,
as
the case may be, notwithstanding any such termination, assignment or
resignation.
Section
3.22 Report
on Assessment of Compliance and Attestation.
(a) (i) By
March 10 (with a 5 calendar day cure period but in no event later than March
15)
of each year, commencing in March 2008, the Master Servicer, the Trust
Administrator and the Custodian, each at its own expense, shall furnish or
otherwise make available, and each such party shall cause any Servicing Function
Participant engaged by it to furnish, each at its own expense, to the Trust
Administrator and the Depositor, a report on an assessment of compliance with
the Relevant Servicing Criteria in the form of Exhibit Q hereto, (an “Assessment
of Compliance”) that contains (A) a statement by such party of its
responsibility for assessing compliance with the Relevant Servicing Criteria,
(B) a statement that such party used the Servicing Criteria to assess compliance
with the Relevant Servicing Criteria, (C) such party’s assessment of compliance
with the Relevant Servicing Criteria as of and for the fiscal year covered
by
the Form 10-K required to be filed pursuant to Section 3.22, including, if
there
has been any material instance of noncompliance with the Relevant Servicing
Criteria, a discussion of each such failure and the nature and status thereof,
and (D) a statement that a registered public accounting firm has issued an
attestation report on such party’s assessment of compliance with the Relevant
Servicing Criteria as of and for such period.
(ii) No
later
than the end of each fiscal year for the Trust Fund for which a Form 10-K is
required to be filed, the Master Servicer and the Custodian shall each forward
to the Trust Administrator the name of each Servicing Function Participant
engaged by it and what Relevant Servicing Criteria will be addressed in the
Assessment of Compliance prepared by such Servicing Function Participant
(provided, that the Master Servicer need not provide such information
to the Securities Administrator so long as the Master Servicer and the
Securities Administrator are the same Person). When each of the
Master Servicer, the Custodian and the Trust Administrator (or any Servicing
Function Participant engaged by either of them) submit their Assessments of
Compliance to the Trust Administrator, each such party will also at such time
include the Assessment of Compliance and Accountant’s Attestation pursuant to
Section 3.22(b)(i) of each Servicing Function Participant engaged by
it.
(iii) Promptly
after receipt of each Assessment of Compliance, (A) the Depositor shall review
each such report and, if applicable, consult with the Master Servicer, the
Trust
Administrator, the Custodian and any Servicing Function Participant engaged
by
any such party as to the nature of any material instance of noncompliance with
the Relevant Servicing Criteria by such party, and (B) the Trust Administrator
shall confirm that the Assessments of Compliance, taken as a whole, address
all
of the Servicing Criteria and taken individually address the Relevant Servicing
Criteria for each party as set forth on Exhibit X and on any similar exhibit
set
forth in each Servicing Agreement in respect of each Servicer and notify the
Depositor of any exceptions.
(iv) The
Master Servicer shall enforce any obligation of each Servicer, to the extent
set
forth in the related Servicing Agreement, to deliver to the Master Servicer
an
annual Assessment of Compliance within the time frame set forth in, and in
such
form and substance as may be required pursuant to, the related Servicing
Agreement. The Master Servicer shall include all Assessments of
Compliance received by it from the Servicers with its own Assessment of
Compliance to be submitted to the Trust Administrator pursuant to this
Section.
In
the
event the Master Servicer, the Securities Administrator, the Custodian or any
Servicing Function Participant engaged by any such party is terminated, assigns
its rights and obligations under, or resigns pursuant to, the terms of this
Agreement, or any other applicable agreement, as the case may be, such party
shall provide a report on assessment of compliance pursuant to this Section
3.22, or to such other applicable agreement, notwithstanding any such
termination, assignment or resignation.
(b) (i) By
March 10 (with a 5 calendar day cure period but in no event later than
March 15) of each year, commencing in March 2008, the Master Servicer, the
Trust
Administrator and the Custodian, each at its own expense, shall cause, and
each
such party shall cause any Servicing Function Participant engaged by it to
cause, each at its own expense, a registered public accounting firm (which
may
also render other services to the Master Servicer, the Custodian, the Trust
Administrator, or such Servicing Function Participants, as the case may be)
that
is a member of the American Institute of Certified Public Accountants to furnish
an attestation report to the Trust Administrator and the Depositor (an
“Accountant’s Attestation”), to the effect that (A) it has obtained a
representation regarding certain matters from the management of such party,
which includes an assertion that such party has complied with the Relevant
Servicing Criteria, and (B) on the basis of an examination conducted by such
firm in accordance with standards for attestation engagements issued or adopted
by the PCAOB, it is expressing an opinion as to whether such party’s compliance
with the Relevant Servicing Criteria was fairly stated in all material respects,
or it cannot express an overall opinion regarding such party’s assessment of
compliance with the Relevant Servicing Criteria. In the event that an
overall opinion cannot be expressed, such registered public accounting firm
shall state in such report why it was unable to express such an
opinion. Such report must be available for general use and not
contain restricted use language.
(ii) Promptly
after receipt of each such Assessment of Compliance and Accountant’s Attestation
the Trust Administrator shall confirm that each assessment submitted pursuant
to
Section 3.22(a)(i) is coupled with an attestation that appears on its face
to
meet the requirements of this Section and notify the Depositor of any
exceptions.
(iii) The
Master Servicer shall enforce any obligation of each Servicer, to the extent
set
forth in the related Servicing Agreement, to deliver to the Master Servicer
an
attestation within the time frame set forth in, and in such form and substance
as may be required pursuant to, the related Servicing Agreement. The
Master Servicer shall include each such attestation furnished to it by the
Servicers with its own attestation to be submitted to the Trust Administrator
pursuant to this Section.
In
the
event the Master Servicer, the Securities Administrator, the Custodian, any
Servicer or any Servicing Function Participant engaged by any such party, is
terminated, assigns its rights and duties under, or resigns pursuant to the
terms of, this Agreement, or any applicable Custodial Agreement, Servicing
Agreement or sub-servicing agreement, as the case may be, such party shall
cause
a registered public accounting firm to provide an attestation pursuant to this
Section 3.22, or such other applicable agreement, notwithstanding any such
termination, assignment or resignation.
(c) (i) The
Master Servicer agrees to indemnify and hold harmless each of the Depositor
and
each Person, if any, who “controls” the Depositor within the meaning of the
Securities Act and its respective officers, directors and affiliates from and
against any losses, damages, penalties, fines, forfeitures, reasonable and
necessary legal fees and related costs, judgments and other costs and expenses
that such Person may sustain arising out of third party claims based on (A)
the
failure of the Master Servicer (or any Servicing Function Participant engaged
by
it) to deliver or cause to be delivered when required any Assessment of
Compliance or Accountant’s Attestation required pursuant to Section 3.22(a)(i)
or 3.22(b)(i), as applicable, or (B) any material misstatement or omission
contained in any Assessment of Compliance provided pursuant to
Section 3.22(a)(i).
(ii) The
Trust
Administrator agrees to indemnify and hold harmless the Depositor and each
Person, if any, who “controls” the Depositor within the meaning of the
Securities Act and its officers, directors and affiliates from and against
any
losses, damages, penalties, fines, forfeitures, reasonable and necessary legal
fees and related costs, judgments and other costs and expenses that such Person
may sustain arising out of third party claims based on (i) the failure of the
Trust Administrator (or any Servicing Function Participant engaged by it) to
deliver when required any Assessment of Compliance or Accountant’s Attestation
required pursuant to Section 3.22(a)(i) or 3.22(b)(i), or (ii) any material
misstatement or omission contained in any Assessment of Compliance provided
pursuant to Section 3.22(a)(i).
(iii) The
Custodian agrees to indemnify and hold harmless the Depositor and each Person,
if any, who “controls” the Depositor within the meaning of the Securities Act
and their respective officers, directors and affiliates from and against any
losses, damages, penalties, fines, forfeitures, reasonable and necessary legal
fees and related costs, judgments and other costs and expenses that such Person
may sustain arising out of third party claims based on (i) the failure of the
Custodian (or any Servicing Function Participant engaged by it) to deliver
or
cause to be delivered when required any Assessment of Compliance or Accountant’s
Attestation required pursuant to Section 3.22(a)(i) or 3.22(b)(i) or (ii) any
material misstatement or omission contained in any Assessment of Compliance
provided pursuant to Section 3.22(a)(i).
(d) Each
of
the parties hereto acknowledges and agrees that the purpose of this Section
3.22
is to facilitate compliance by the Transferor and the Depositor with the
provisions of Regulation AB, as such may be amended or clarified from time
to
time. Therefore, each of the parties agrees that the parties’
obligations hereunder will be supplemented and modified as necessary to be
consistent with any such amendments, interpretive advice or guidance, convention
or consensus among active participants in the asset-backed securities markets,
advice of counsel, or otherwise in respect of the requirements of Regulation
AB
and the parties shall comply, to the extent practicable from a timing and
information systems perspective (and to the extent the requesting party will
pay
any increased cost of the Trustee resulting from such request provided that
such
request results in extraordinary expenses), with requests made by the Transferor
or the Depositor for delivery of additional or different information as the
Transferor or the Depositor may determine in good faith is necessary to comply
with the provisions of Regulation AB.
Section
3.23 Errors
and Omissions Insurance; Fidelity Bonds.
The
Master Servicer shall for so long as it acts as Master Servicer under this
Agreement, obtain and maintain in force (a) a policy or policies of insurance
covering errors and omissions in the performance of its obligations as Master
Servicer hereunder and (b) a fidelity bond in respect of its officers, employees
and agents. Each such policy or policies shall be in such form and
such amount generally acceptable for entities serving as master
servicer. In the event that any such policy or bond ceases to be in
effect, the Master Servicer shall obtain a comparable replacement policy or
bond
from an insurer or issuer, meeting the requirements set forth above as of the
date of such replacement.
Section
3.24 Credit
Risk Management Services and Reports; Reliability of Data.
(a) The
Depositor hereby appoints Xxxxx Fargo Bank, N.A. as Credit Risk Manager. The
Credit Risk Manager shall perform certain services related to servicer review
and oversight, monitoring and reporting of various Mortgage Loans and each
Servicer’s performance, preparation of Mortgage Loan and REO Property payment,
delinquency and loss information, reconciliation of Prepayment Charge
collections by such Servicer and monitoring information related to insurance
claims and foreclosures. No later than the end of each calendar
month, the Credit Risk Manager shall prepare and make available certain reports
containing various performance, payment, delinquency and loss information and
information related to insurance claims and foreclosures. Such reports shall
be
made available through the facilities of Xxxxx Fargo’s corporate trust services
website, currently located at xxx.XXXXxxx.xxx, and shall be in a format
and contain such content as is mutually agreed upon by the Depositor, the NIMS
Insurer and the Credit Risk Manager. None of the Trustee, the Trust
Administrator or the Master Servicer shall have any obligation to review such
reports or otherwise monitor or supervise the activities of the Credit Risk
Manager.
(b) Each
of
the Depositor, the Servicers, the Trustee, the Trust Administrator, the Master
Servicer and the Custodian acknowledge and agree that the reports that are
compiled and prepared by the Credit Risk Manager are based on information
provided to the Credit Risk Manager by the Servicers, the Master Servicer and
from various unaffiliated third parties, including other Persons involved in
the
servicing and administration of the related Mortgage Loans or related REO
Properties. The Credit Risk Manager makes no representation or warranty as
to
the accuracy or completeness of any such information or data, and the Credit
Risk Manager shall not be responsible for any misstatements, omissions, errors,
or inaccuracies in any such reports or information resulting from any
misstatements, omissions, errors, or inaccuracies in any information or data
provided by third parties.
Section
3.25 Limitation
Upon Liability of Credit Risk Manager.
Neither
the Credit Risk Manager nor any of the directors, officers, employees, or agents
of the Credit Risk Manager shall be under any liability to the Servicers, the
Master Servicer, the Trust Administrator, the Trustee, the Certificateholders
or
the Depositor for any action taken or for refraining from the taking of any
action in good faith pursuant to this Agreement in reliance upon information
provided by the Servicers or the Master Servicer or for errors in judgment;
provided, however, that this provision shall not protect the Credit Risk Manager
against any breach of representation or warranty made herein, failure to perform
its obligations hereunder, or any liability which would otherwise be imposed
by
reason of willful misfeasance, bad faith, or negligence of the Credit Risk
Manager in the performance of its duties hereunder or by reason of a breach
of
its obligations and duties hereunder. The Credit Risk Manager and any director,
officer, employee or agent of the Credit Risk Manager may rely in good faith
on
any document of any kind prima facie properly executed and submitted by any
Person respecting any matters arising hereunder. Subject to the terms of this
Agreement, the Credit Risk Manager shall be under no obligation to appear in,
prosecute, or defend any legal action which, in its opinion, may involve it
in
any expense or liability; provided, however, that the Credit Risk Manager may
with the consent of the Depositor, the Trustee, the Trust Administrator, the
Master Servicer, the Custodian, and the Servicers, and at the expense
of the respective consenting party, undertake any such action as it may deem
necessary or desirable in respect to this Agreement and the rights, duties,
and
the interests of the parties hereto.
Section
3.26 Resignation
or Removal of Credit Risk Manager.
The
Credit Risk Manager may resign upon ninety (90) days’ prior written notice to
the Trustee, the NIMS Insurer, if any, and the Depositor. If the
Credit Risk Manager is no longer able to perform its duties hereunder, the
Credit Risk Manager may be terminated by the Depositor at the direction of
the
NIMS Insurer or Certificateholders evidencing not less than 66 2/3% of the
Voting Rights with the prior written consent of the NIMS Insurer, if
any. The Depositor may, at its option, cause the appointment of a
successor Credit Risk Manager which Credit Risk Manager shall be acceptable
to
the NIMS Insurer. Upon any termination of the Credit Risk Manager or
the appointment of a successor Credit Risk Manager with the prior written
consent of the NIMS Insurer, if any, the Depositor shall give written notice
thereof to the related Servicer, the Master Servicer, the Trust Administrator,
the Trustee, each Rating Agency, the NIMS Insurer, if any, and the Credit Risk
Manager. Notwithstanding the foregoing, the termination of the Credit
Risk Manager pursuant to this Section 3.26 shall not become effective until
the
appointment of a successor Credit Risk Manager acceptable to the NIMS
Insurer.
ARTICLE
IV
DISTRIBUTIONS
AND SERVICING ADVANCES
Section
4.01 Advances. The
Master Servicer shall deposit in the Distribution Account not later than the
Distribution Account Deposit Date immediately preceding the related Distribution
Date an Advance in an amount equal to the difference between (x) with
respect to each Scheduled Payment due on a Mortgage Loan that is delinquent
(other than as a result of a Relief Act Reduction) and for which the related
Servicer was required to make an Advance pursuant to the related Servicing
Agreement and (y) amounts deposited in the Collection Account to be used
for Advances with respect to such Mortgage Loan, except to the extent the Master
Servicer determines any such Advance to be a Nonrecoverable
Advance. Subject to the foregoing, the Master Servicer shall continue
to make such Advances for so long as the related Servicer is required to do
so
under the related Servicing Agreement. If applicable, on the
Distribution Account Deposit Date, the Master Servicer shall deliver an
Officer’s Certificate to the Trust Administrator stating that the Master
Servicer elects not to make an Advance in a stated amount and detailing the
reason(s) it deems the Advance to be a Nonrecoverable Advance. Any
amounts deposited by the Master Servicer pursuant to this Section 4.01
shall be net of the Servicing Fee for the related Mortgage Loans.
Section
4.02 Priorities
of Distribution on the Certificates. (a) On each
Distribution Date, the Trust Administrator shall withdraw the related Group
Available Funds (to the extent on deposit in the Distribution Account) from
the
Distribution Account and, pursuant to the statement prepared by the Master
Servicer as set forth in Section 4.04(a), upon which it may conclusively
rely, apply such funds, first to distributions in respect of the REMIC I Regular
Interests, as provided in Section 4.02(f), and then to distributions on the
Certificates in the following order and priority and, in each case, to the
extent of such Group Available Funds, subject to adjustment in accordance with
Section 4.02(e):
(i) With
respect to the Group 1 Certificates from the Group 1 Available Funds;
with respect to the Group 2 Certificates from the Group 2 Available
Funds; with respect to the Group 3 Certificates from the Group 3
Available Funds, as follows; with respect to the Group 4 Certificates from
the Group 4 Available Funds, as follows; and with respect to the
Group 5 Certificates from the Group 5 Available Funds, as
follows:
first,
concurrently,
(A) concurrently,
to each of the Group 1 Certificates pro rata based on the entitlement
of each such class, an amount allocable to interest equal to the related Accrued
Certificate Interest;
(B) concurrently,
to each of the Group 2 Certificates (other than the Group 2 Exchangeable
Certificates) pro rata based on the entitlement of each such class, an
amount allocable to interest equal to the related Accrued Certificate
Interest;
(C) concurrently,
to each of the Group 3 Certificates pro rata based on the entitlement
of each such class, an amount allocable to interest equal to the related Accrued
Certificate Interest;
(D) concurrently,
to each of the Group 4 Certificates (other than the Class 4-PO Certificates
and
the Group 4 Exchangeable Certificates) pro rata based on the
entitlement of each such class, an amount allocable to interest equal to the
related Accrued Certificate Interest; and
(E) to
the
Group 5 Certificates, an amount allocable to interest equal to the related
Accrued Certificate Interest.
second,
concurrently,
(A) to
the
extent of remaining Group 1 Available Funds, first, to the Class AR
Certificates, and second, concurrently, to the Class 1-A-1 and
Class 1-A-2 Certificates, pro rata based on the Certificate
Principal Balance of each such Class, up to the amount of the Senior Optimal
Principal Amount for Loan Group 1 for such Distribution Date, until the
Class Principal Balance of each such Class has been reduced to
zero;
(B) to
the
extent of remaining Group 2 Available Funds, concurrently, to the Group 2
Certificates (other than the Group 2 Exchangeable Certificates), pro rata
based on the Certificate Principal Balance of each such Class, up
to the
amount of the Senior Optimal Principal Amount for Loan Group 2 for such
Distribution Date, until the Class Principal Balance of each such Class has
been
reduced to zero;
(C) to
the
extent of remaining Group 3 Available Funds, concurrently, to the Group 3
Certificates, pro rata based on the Certificate Principal Balance of
each such Class, up to the amount of the Senior Optimal Principal Amount for
Loan Group 3 for such Distribution Date, until the Class Principal Balance
of each such Class has been reduced to zero;
(D) to
the
extent of remaining Group 4 Available Funds,
(i) first,
concurrently, to the Group 4 Certificates (other than the Interest Only
Certificates, the Principal Only Certificates and the Group 4 Exchangeable
Certificates), pro rata based on the Certificate Principal Balance of
each such Class, up to the amount of the Senior Optimal Principal Amount for
Loan Group 4 for such Distribution Date, until the Class Principal Balance
of each such Class has been reduced to zero;
(ii) second,
to the Class 4-PO Certificates, the PO Principal Distribution Amount for that
Distribution Date, until the Class Principal Balance of such Class has been
reduced to zero; and
(iii) on
any
Distribution Date on or prior to the Cross-Over Date, (x) first, from any PO
Recoveries from any Group 4 Loans for that Distribution Date, to the Class
4-PO
Certificates, up to the PO Deferred Amount for that Distribution Date and (y)
second, from the remaining Available Funds for Loan Group 4, to the Class 4-PO
Certificates, up to the remaining PO Deferred Amount for that Distribution
Date;
provided that, (1) on any Distribution Date, the aggregate of the distributions
pursuant to clause (y) of this priority of the PO Deferred Amounts will not
exceed the Subordinate Principal Distribution Amount for that Distribution
Date,
(2) such distributions will not reduce the Class Principal Balance of the Class
4-PO Certificates and (3) no distribution will be made in respect of any such
PO
Deferred Amounts on or after the Cross-Over Date; and
(E) to
the
extent of remaining Group 5 Available Funds, to the Class 5-A-1
Certificates, up to the amount of the Senior Optimal Principal Amount for Loan
Group 5 for such Distribution Date, until the Class Principal Balance of
such Class has been reduced to zero.
(ii) to
the
Subordinate Certificates, subject to Section 4.02(e), in the following
order of priority:
(A) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-1 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-1 Certificates for that
Distribution Date and (2) the Class B-1 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(B) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-2 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-2 Certificates for that
Distribution Date and (2) the Class B-2 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(C) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-3 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-3 Certificates for that
Distribution Date and (2) the Class B-3 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(D) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-4 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-4 Certificates for that
Distribution Date and (2) the Class B-4 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(E) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-5 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-5 Certificates for that
Distribution Date and (2) the Class B-5 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(F) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-6 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-6 Certificates for that
Distribution Date and (2) the Class B-6 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(G) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-7 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-7 Certificates for that
Distribution Date and (2) the Class B-7 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
(H) from
the
remaining Available Funds for all Loan Groups in the aggregate, to the
Class B-8 Certificates in the following order: (1) the
Accrued Certificate Interest on the Class B-8 Certificates for that
Distribution Date and (2) the Class B-8 Certificates’ Allocable Share
for that Distribution Date until the Class Principal Balance is reduced to
zero;
and
(I) to
the
Class AR Certificates any remaining portion (which is expected to be zero)
of the Available Funds for that Distribution Date.
Amounts
on deposit in the Distribution Account, up to the Class P Amount, will be
distributed on the Distribution Date after the expiration of the latest expiring
prepayment charge term, concurrently, to the Class P Certificates, pro
rata, until the respective Class Principal Balances of such Classes have
been reduced to zero.
Pro
rata distributions of interest among Classes of Certificates are required
to be made in proportion to the then current amount of interest to which the
applicable Classes are entitled. Pro rata distributions of
principal among Classes of Certificates are required to be made in proportion
to
the then-current Certificate Principal Balance of the applicable
Classes.
Notwithstanding
the foregoing, if any Class of Exchangeable REMIC Certificates has been
surrendered to the Trust Administrator for the related Exchangeable
Certificates, then any amounts otherwise distributable to such Class of
Exchangeable REMIC Certificates pursuant to this Section 4.02 shall be deposited
in the Exchangeable Certificates Distribution Account and distributed to the
Holders of the related Class or Classes of Exchangeable
Certificates.
(b) On
each
Distribution Date, all Class P Prepayment Charges remitted to the Trust during
the related Prepayment Period shall be distributed by the Trust Administrator
to
the Holders of the Class P Certificates in the following
manner:
(i) To
the Class P-1 Certificates, the Group 1 Prepayment Charges remitted to the
Trust
during the related Prepayment Period;
(ii) To
the Class P-2 Certificates, the Group 2 Prepayment Charges remitted to the
Trust
during the related Prepayment Period;
(iii) To
the Class P-3 Certificates, the Group 3 Prepayment Charges remitted to the
Trust
during the related Prepayment Period;
(iv) To
the Class P-4 Certificates, the Group 4 Prepayment Charges remitted to the
Trust
during the related Prepayment Period; and
(v) To
the Class P-5 Certificates, the Group 5 Prepayment Charges remitted to the
Trust
during the related Prepayment Period.
(c) On
each
Distribution Date, the amount referred to in clause (i) of the definition
of Accrued Certificate Interest for each Class of Senior Certificates and
Subordinate Certificates for such Distribution Date shall be reduced by
(i) the related Class’ Pro Rata Share of Net Prepayment Interest Shortfalls
with respect to the Mortgage Loans in the related Loan Group or Loan Groups,
based on such Class’ Accrued Certificate Interest for such Distribution Date
without taking into account such Net Prepayment Interest Shortfalls and
(ii) the related Class’ Pro Rata Share of (A) after the related
Special Hazard Coverage Termination Date, with respect to each Mortgage Loan
in
the related Loan Group or Loan Groups, that became a Special Hazard Mortgage
Loan during the calendar month preceding the month of such Distribution Date,
the excess of one month’s interest at the related Net Mortgage Rate on the
Scheduled Principal Balance of such Mortgage Loan as of the Due Date in such
month over the amount of Liquidation Proceeds applied as interest on such
Mortgage Loan with respect to such month, (B) after the Bankruptcy Coverage
Termination Date, with respect to each Mortgage Loan in the related Loan Group
or Loan Groups that became subject to a Bankruptcy Loss during the calendar
month preceding the month of such Distribution Date, the interest portion of
the
related Deficient Valuation, (C) each Relief Act Reduction incurred on a
Mortgage Loan in the related Loan Group or Loan Groups, during the calendar
month preceding the month of such Distribution Date and (D) after the Fraud
Loss Coverage Termination Date with respect to each Mortgage Loan in the related
Loan Group or Loan Groups that became a Fraud Loan during the calendar month
preceding the month of such Distribution Date, the excess of one month’s
interest at the related Net Mortgage Rate on the Scheduled Principal Balance
of
such Mortgage Loan as of the Due Date in such month over the amount of
Liquidation Proceeds applied as interest on such Mortgage Loan with respect
to
such month.
(d) Notwithstanding
the priority and allocation contained in Section 4.02(a)(ii)(A) through
(H), if with respect to any Class of Subordinate Certificates on any
Distribution Date, (I) such Class has not satisfied the related Class Prepayment
Distribution Trigger, no distribution of amounts pursuant to clauses (ii) and
(iii) of the definition of Subordinate Optimal Principal Amount will be made
to
any such Classes (the “Restricted Classes”) and the amount of such
amounts pursuant to clauses (ii) and (iii) of the definition of Subordinate
Optimal Principal Amount otherwise distributable to the Restricted Classes
shall
be distributed to any Classes of Subordinate Certificates, that are not
Restricted Classes, having lower numerical Class designations than such Class,
pro rata, based on their respective Class Principal Balances
immediately prior to such Distribution Date and shall be distributed in the
sequential order provided in Section 4.02(a)(ii)(A) through (H);
provided, however, that, if all of the Subordinate Certificates
are Restricted Classes, then such amounts shall be distributed to the most
senior Class of such Subordinate Certificates outstanding and (II) such Class
has not satisfied the Subordinate Certificates Fractional Interest Test, the
Classes of Subordinate Certificates that have higher numerical designations
shall receive, in respect of clauses (ii) and (iii) of the definition of
Subordinate Optimal Principal Amount, an amount equal to the product of
(i) their pro rata shares (based on the Certificate Principal
Balances of all Subordinate Certificates that are entitled to receive principal
distributions on such date) and (ii) the percentages set forth in the
following table:
Distribution
Date occurring in
|
Percentage
|
October
2007 through September 2014
|
0%
|
October
2014 through September 2015
|
30%
|
October
2015 through September 2016
|
40%
|
October
2016 through September 2017
|
60%
|
October
2017 through September 2018
|
80%
|
October
2018 and thereafter
|
100%
|
Each
Class of Subordinate Certificates that received a full pro rata share
as described above shall be allocated any remaining amount in respect of
clauses (ii) and (iii) of the definition of Subordinate Optimal Principal
Amount, pro rata (based on the Certificate Principal Balances of only
those Subordinate Certificates that received a full pro rata
share). The calculation of any amount to be distributed under this
Section 4.02(d) shall be made by the Master Servicer.
(e) On
each
Distribution Date, after application of Group Available Funds for each Loan
Group in accordance with Section 4.02(a)(i), the Trust Administrator shall
effect cross collateralization among the Certificate Groups as
follows:
(i) To
the
extent any Accrued Certificate Interest with respect to any Class or Classes
of
Senior Certificates remains unpaid after application of Group 1 Available
Funds, Group 2 Available Funds, Group 3 Available Funds, Group 4
Available Funds and Group 5 Available Funds in accordance with
Section 4.02(a)(i), Available Funds remaining from all Loan Groups after
payments on the Senior Certificates in the related Certificate Groups shall
be
applied to cover such unpaid Accrued Certificate Interest, and shall be applied
pro rata based on the amounts of such unpaid Accrued Certificate
Interest to the extent there are insufficient funds to pay such amounts in
full. Such amounts shall otherwise be paid to the Senior Certificates
in accordance with the priorities set forth in
Section 4.02(a)(i).
(ii) If
on any
Distribution Date, one or more of the Certificate Groups is an
Undercollateralized Group, the available Subordinate Principal Distribution
Amount (after giving effect to amounts required to be paid in
sub-clause (i) above) shall be paid to the Senior Certificates of each such
Undercollateralized Group as principal in accordance with the priorities set
forth in Section 4.02(a)(i) until the aggregate Class Principal Balance of
the Senior Certificates of each such Undercollateralized Group(s) equals the
Pool Balance of the related Loan Group. If more than one such
Certificate Group is an Undercollateralized Group, the available Subordinate
Principal Distribution Amount shall be distributed between such
Undercollateralized Groups pro rata according to the Pool Principal
Balance of the related Loan Group. Any application of the Subordinate
Principal Distribution Amount for the Subordinate Certificates pursuant to
this
paragraph (ii) will reduce distributions of such amount to the Subordinate
Certificates in reverse order of priority pursuant to the priorities set forth
in Section 4.02(a)(ii)(A) through (H).
(iii) On
or
after the date on which the Class Principal Balances of all of the Senior
Certificates in any of the Certificate Groups have been reduced to zero, amounts
otherwise distributable as principal on the Subordinate Certificates, up to
the
applicable Apportioned Subordinate Principal Distribution Amount, shall be
paid
pro rata as principal to the remaining Senior Certificates of such
other Certificate Group or Certificate Groups in accordance with the priorities
set forth in Section 4.02(a)(i), provided that on such Distribution
Date (a) the Aggregate Subordinate Percentage for such Distribution Date is
less than twice the initial Aggregate Subordinate Percentage or (b) the
average outstanding principal balance of the Mortgage Loans in any Loan Group
delinquent 60 days or more over the last six months (including delinquent
Mortgage Loans in bankruptcy, and all Mortgage Loans in foreclosure and REO
Properties) as a percentage of the related Group Subordinate Amount is greater
than or equal to 50%. Any application of the applicable Apportioned
Subordinate Principal Distribution Amount to the Senior Certificates, pursuant
to this paragraph will reduce distributions of the Subordinate Principal
Distribution Amount for the Subordinate Certificates, pro rata, based
on Class Principal Balances of the Subordinate Certificates.
(f) Distributions
of interest shall be deemed to be made to the REMIC I Regular Interests, in
each
case from the related Loan Group, in an amount equal to (A) Uncertificated
Accrued Interest for such REMIC I Regular Interest for such Distribution Date,
plus (B) any amounts in respect thereof remaining unpaid from previous
Distribution Dates. Distributions of principal shall be deemed to be
made to the REMIC I Regular Interests, in each case from the related Loan Group,
first, to REMIC I Regular Interest LT-1A, REMIC I Regular Interest
LT-2A, REMIC I Regular Interest LT-3A, REMIC I Regular
Interest LT-4A and REMIC I Regular Interest LT-5A, as applicable, so that the
Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.01%
of the excess of (x) the aggregate Scheduled Principal Balance of the Non-PO
Percentage of the Mortgage Loans in the related Loan Group as of the first
day
of the month immediately prior to the month in which the related Distribution
Date occurs (after taking in account scheduled payments of principal on that
date and unscheduled payments of principal distributed on the immediately
preceding Distribution Date), or for the initial Distribution Date, as of the
Cut-off Date over (y) the current Certificate Principal Balance of the Class
A
Certificates in such Loan Group (except that if any such excess is a larger
number than in the preceding distribution period, the least amount of principal
shall be distributed to such REMIC I Regular Interests such that the REMIC
I
Subordinated Balance Ratio is maintained); and second, any remaining principal
in each Loan Group to REMIC I Regular Interest LT-ZZZ1, REMIC I Regular Interest
LT-ZZZ2, REMIC I Regular Interest LT-ZZZ3, REMIC I Regular Interest LT-ZZZ4,
REMIC I Regular Interest LT-4A3IO, REMIC I Regular Interest LT-4A4 and REMIC
I
Regular Interest LT-ZZZ5, as applicable (provided that a portion of the
remaining principal equal to the Class PO Principal Distribution Amount
attributable to the Group 4 Mortgage Loans will be distributed to REMIC I
Regular Interest LT-4PO).
(g) Any
Fair
Market Value Excess collected in connection with a termination of the Trust
Fund
pursuant to Section 10.01 shall be distributed to the Holders of the
Class AR Certificates (in respect of the Class R-1 Interest).
(h) Distributions
of interest shall be deemed to be made to the REMIC II Regular Interests at
the
REMIC II Remittance Rate for each such REMIC II Regular Interest on the related
Uncertificated Principal Balance or Uncertificated Notional
Amount. Distributions of principal shall be deemed to be made from
amounts received on the mortgage Loans to the REMIC II Regular Interests, in
the
same manner and priority as such amounts are paid to the Corresponding
Certificate.
(i) Any
Fair
Market Value Excess collected in connection with a termination of the Trust
Fund
pursuant to Section 10.01 shall be distributed to the Holders of the Class
AR
Certificates (in Respect of the Class R-2 Interest).
Section
4.03 Allocation
of Realized Losses. (a) On or prior to each
Distribution Date, the Master Servicer shall determine the total amount of
Realized Losses, including Excess Losses and the allocation of such total amount
as set forth below. Realized Losses occurring on the Mortgage Loans
shall be allocated as follows:
(i) the
applicable PO Percentage of any Realized Loss on any Discount Mortgage Loan
in
Loan Group 4, including any Excess Loss, shall be allocated to the Class 4-PO
Certificates, in the case of a Realized Loss occurring on any Discount Mortgage
Loan, in each case, until the Class Principal Balance of such Class of Class
PO
Certificates is reduced to zero;
(ii) the
applicable Non-PO Percentage of any Realized Loss with respect to any Mortgage
Loan (other than an Excess Loss) shall be allocated first to the Subordinate
Certificates in reverse order of their respective numerical Class designations
(beginning with the Class of Subordinate Certificates then outstanding with
the
highest numerical Class designation) until the respective Class Principal
Balance of each such Class is reduced to zero and second (1) with respect
to such losses occurring with respect to Group 1 Mortgage Loans, to the
Group 1 Certificates, pro rata based upon their respective Class
Principal Balances until the Class Principal Balance of each such Class has
been
reduced to zero; provided, however, that the losses allocable to the Class
1-A-1
Certificates will instead be allocated to the Class 1-A-2 Certificates until
the
Certificate Principal Balance of such Class has been reduced to zero; (2) with
respect to such losses occurring with respect to Group 2 Mortgage Loans, to
the Group 2 Certificates, pro rata based upon their respective Class
Principal Balances until the Class Principal Balance of each such Class has
been
reduced to zero; provided, however, that the losses allocable to the Class
2-A-1
Certificates will instead be allocated to the Class 2-A-2 Certificates until
the
Certificate Principal Balance of such Class has been reduced to zero; (3) with
respect to such losses occurring with respect to Group 3 Mortgage Loans, to
the Group 3 Certificates, pro rata based upon their respective Class
Principal Balances until the Class Principal Balance of each such Class has
been
reduced to zero; provided, however, that the losses allocable to the Class
3-A-1
Certificates will instead be allocated to the Class 3-A-2 Certificates until
the
Certificate Principal Balance of such Class has been reduced to zero; (iv)
with
respect to such losses occurring with respect to Group 4 Mortgage Loans, to
the Group 4 Certificates (other than the Interest Only Certificates and the
Principal Only Certificates), pro rata based upon their respective
Class Principal Balances until the Class Principal Balance of each such Class
has been reduced to zero; provided, however, that the losses allocable to the
Class 4-A-2 Certificates will instead be allocated to the Class 4-A-4
Certificates until the Certificate Principal Balance of such Class has been
reduced to zero and (5) with respect to such losses occurring with respect
to
Group 5 Mortgage Loans, to the Class 5-A-1 Certificates, until the Class
Principal Balance of such Class has been reduced to zero;
(iii) the
applicable Non-PO Percentage of any Excess Losses occurring on any Mortgage Loan
shall be allocated among (A) the Senior Certificates (other than the Interest
Only Certificates and the Principal Only Certificates); and (B) each Class
of
Subordinate Certificates, pro rata based upon their respective Class Principal
Balances after giving effect to distributions of principal on such Distribution
Date (except, in the case of the Subordinate Certificates, based on their
pro-rata portion of the Group Subordinate Amount which incurred the Excess
Loss
(based on their respective Class Principal Balances));
The
Exchangeable Certificates will bear a proportionate share, in the aggregate,
of
Excess Losses allocable to each class of Exchangeable REMIC
Certificates.
(b) The
Class
Principal Balance of the Class of Subordinate Certificates then outstanding
with
the highest numerical Class designation shall be reduced on each Distribution
Date by the amount, if any, by which the aggregate of the Class Principal
Balances of all outstanding Classes of Certificates (after giving effect to
the
distribution of principal and the allocation of Realized Losses on such
Distribution Date) exceeds the Pool Principal Balance for the following
Distribution Date.
(c) Any
allocation of Realized Losses to a Certificate or any reduction in the
Certificate Principal Balance of a Certificate, pursuant to Section 4.03(a)
above shall be accomplished by reducing the Certificate Principal Balance
thereof, as applicable, immediately following the distributions made on the
related Distribution Date in accordance with the definition of “Certificate
Principal Balance” herein; provided that no Realized Loss shall be
allocated to reduce the Certificate Principal Balance of a Certificate to the
extent that such allocation would reduce the aggregate Certificate Principal
Balance of all of the Certificates to an amount less than the Pool Principal
Balance for the following Distribution Date of all outstanding Mortgage Loans
in
the aggregate, less any related Deficiency Valuations occurring before the
related Bankruptcy Loss Coverage Termination Date (such limitation, a “Loss
Allocation Limitation”).
(d) Prior
to
the Cross-Over Date, with respect to Recoveries received during a Prepayment
Period with respect to any Mortgage Loans, the Class Principal Balance of one
or
more Classes of Certificates that have previously had Realized Losses allocated,
will be increased, as follows:
(i) first,
up to the amount of the Recoveries with respect to a Loan Group, the Class
Principal Balance of each Class of Senior Certificates of the Certificate Group
corresponding to such Loan Group will be increased, pro rata, up to the
amount of unrecovered Realized Losses previously allocated to each such Class,
if any; and
(ii) second,
up to the amount of the Recoveries remaining after allocation pursuant to the
preceding clause (i), the Class Principal Balance of each Class of
Subordinate Certificates, in order of seniority, will be increased, by the
amount of unrecovered Realized Losses previously allocated to each such Class,
if any.
(e) Commencing
on the Cross-Over Date, the Trust Administrator shall distribute the amount
of
any Recovery received during a Prepayment Period, pro rata, based on
Class Principal Balances, to the Classes of Senior Certificates of the
Certificate Group corresponding to the Loan Group of the Mortgage Loan for
which
the Recovery was received; provided, however, that any
distribution to a Class of Certificates pursuant to this Section 4.03(e)
shall not reduce the Class Principal Balance of such Class.
(f) Realized
Losses from each Loan Group shall be applied after all distributions have been
made on each Distribution Date, first, to REMIC I Regular Interest LT-1A, REMIC
I Regular Interest LT-2A, REMIC I Regular Interest LT-3A, REMIC I Regular
Interest LT-4A and REMIC I Regular Interest LT-5A, as applicable, so that the
Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.01%
of the excess of (x) the aggregate Scheduled Principal Balance of the Non-PO
Percentage of the Mortgage Loans in the related Loan Group as of the first
day
of the month immediately prior to the month in which the related Distribution
Date occurs (after taking in account scheduled payments of principal on that
date and unscheduled payments of principal distributed on the immediately
preceding Distribution Date), or for the initial Distribution Date, as of the
Cut-off Date over (y) the current Certificate Principal Balance of the Class
A
Certificates in such Loan Group (except that if any such excess is a larger
number than in the preceding distribution period, the least amount of Realized
Losses shall be distributed to such REMIC I Regular Interests such that the
REMIC I Subordinated Balance Ratio is maintained); and second, any remaining
Realized Losses from each Loan Group shall be allocated to REMIC I Regular
Interest LT-ZZZ1, REMIC I Regular Interest LT-ZZZ2, REMIC I Regular Interest
LT-ZZZ3, REMIC I Regular Interest LT-ZZZ4, REMIC I Regular Interest LT-4A3IO,
REMIC I Interest LT-4A4 and REMIC I Regular Interest LT-ZZZ5, as applicable
(except that if a Realized Loss is recognized with respect to a Non-Discount
Loan in the Group 4 Mortgage Loans, the applicable portion of such Realized
Loss
will be allocated to REMIC I Regular Interest LT-4PO).
(g) Realized
Losses on the Mortgage Loans shall be applied to the REMIC II Regular Interests
after all distributions have been made on each Distribution Date in the same
manner and priority as such amounts are allocated to the Corresponding
Certificates.
Section
4.04 Distribution
Date Statements to Certificateholders. (a) Not later
than two Business Days prior to each Distribution Date, the Master Servicer
shall prepare and make available to the Trust Administrator and the Credit
Risk
Manager and not later than each Distribution Date, the Trust Administrator
shall
make available to each Certificateholder, the Depositor, the Trustee and any
other interested parties a statement based in part on information provided
by
each Servicer setting forth the following information with respect to the
related distribution (in the case of information furnished pursuant to (i)
and
(ii) below, the amounts shall be expressed as a dollar amount per one
thousand):
(i) the
amount thereof allocable to principal, separately identifying the aggregate
amount of any Principal Prepayments, Class P Prepayment Charges collected on
the
Mortgage Loans identified on Schedule III attached hereto and
Liquidation Proceeds included therein;
(ii) the
amount thereof allocable to interest, any unpaid Class Interest Shortfall
included in such distribution and any remaining unpaid Class Interest Shortfall
after giving effect to such distribution;
(iii) if
the
distribution to the Holders of such Class of Certificates is less than the
full
amount that would be distributable to such Holders if there were sufficient
funds available therefor, the amount of the shortfall and the allocation thereof
as between principal and interest;
(iv) the
Certificate Principal Balance as a dollar amount per minimum denomination
Certificate and the Class Principal Balance or Notional Amount of each Class
of
Certificates, after giving effect to the distribution of principal on such
Distribution Date;
(v) the
Group
Pool Principal Balance for each Loan Group on such Distribution
Date;
(vi) the
Senior Percentage and Subordinate Percentage for each Certificate Group for
the
following Distribution Date;
(vii) the
aggregate amount of the Servicing Fees with respect to such Distribution
Date;
(viii) the
Pass-Through Rate for each such Class of Certificates with respect to such
Distribution Date;
(ix) the
amount of Advances included in the distribution on such Distribution Date and
the aggregate amount of Advances outstanding as of the close of business on
such
Distribution Date;
(x) the
number and aggregate principal amounts of Mortgage Loans (A) delinquent
(exclusive of Mortgage Loans in foreclosure) (1) 1 to 30 days,
(2) 31 to 60 days, (3) 61 to 90 days, and (4) 91 or
more days, and (B) in foreclosure and delinquent (1) 1 to
30 days, (2) 31 to 60 days, (3) 61 to 90 days, and
(4) 91 or more days, as of the close of business on the last day of
the calendar month preceding such Distribution Date determined based on the
MBA
method;
(xi) with
respect to any Mortgage Loan that became an REO Property during the preceding
calendar month, the loan number and Scheduled Principal Balance of such Mortgage
Loan as of the close of business on the last Business Day of the calendar month
preceding such Distribution Date and the date of acquisition
thereof;
(xii) the
total
number and principal balance of any REO Properties (and market value, if
available) as of the close of business on the last Business Day of the calendar
month preceding such Distribution Date;
(xiii) the
Senior Prepayment Percentage for each applicable Certificate Group;
(xiv) the
aggregate amount of Realized Losses incurred during the preceding calendar
month;
(xv) the
Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the
Bankruptcy Loss Coverage Amount, in each case as of the related Determination
Date;
(xvi) whether
any Exchangeable Certificates and/or Exchangeable REMIC Certificates were
exchanged during the previous calendar month;
(xvii) the
Certificate exchanges that occurred during the related Interest Accrual
Period;
(xviii) the
Classes of Exchangeable Certificates that were created during the related
Interest Accrual Period;
(xix) the
balance or notional amount of each Class of Exchangeable Certificates
outstanding;
(xx) the
Pass-Through Rates of the outstanding Classes of Exchangeable
Certificates;
(xxi) the
amount of interest and principal paid to the Classes of Exchangeable
Certificates, including any shortfalls;
(xxii) the
fees
and expenses of the Trust accrued and paid on such Distribution Date and to
whom
such fees and expenses were paid;
(xxiii) the
number, aggregate Principal Balance, weighted average remaining term to maturity
and weighted average Mortgage Rate of the Mortgage Loans as of the related
Due
Date;
(xxiv) the
delinquency percentage;
(xxv) the
aggregate amount of extraordinary trust fund expenses withdrawn from the
Collection Account or the Distribution Account for such Distribution
Date;
(xxvi) the
total
cashflows received and the general sources thereof;
(xxvii) the
Available Funds; and
(xxviii) unless
otherwise set forth in the Form 10-D relating to such Distribution Date,
material modifications, extensions or waivers to Mortgage Loan terms, fees,
penalties or payments during the preceding calendar month or that have become
material over time.
(b) The
Trust
Administrator’s responsibility for disbursing the above information to the
Master Servicer, the Trustee, Depositor, Certificateholders and other interested
parties is limited to the availability, timeliness and the accuracy of the
information provided by each Servicer. The Trust Administrator will
make a copy of each statement provided pursuant to this Section 4.04 (and,
at its option, any additional files containing the same information in an
alternative format) available each month to Certificateholders and other
interested parties, and other parties to this Agreement via the Trust
Administrator’s internet website, initially located at
“xxx.xxxxxxx.xxx.” Assistance in using the Trust Administrator’s
website can be obtained by calling the Trust Administrator’s customer service
desk at (000) 000-0000. Parties that are unable to use the above
distribution method are entitled to have a paper copy mailed to them via first
class mail by calling the Trust Administrator’s customer service desk and
indicating such. The Trust Administrator shall have the right to
change the way the Distribution Date Statement is distributed in order to make
such distribution more convenient and more accessible and the Trust
Administrator shall provide timely and adequate notification to the
Certificateholders and the parties to this Agreement regarding any such
changes. The Trust Administrator shall also be entitled to rely on
but shall not be responsible for the content or accuracy of any information
provided by third parties for purposes of preparing the Distribution Date
Statement and may affix thereto any disclaimer it deems appropriate in its
reasonable discretion (without suggesting liability on the part of any other
party hereto). As a condition to access the Trust Administrator’s
internet website, the Trust Administrator may require registration and the
acceptance of a disclaimer. The Trust Administrator shall not be
liable for the dissemination of information in accordance with this
Agreement.
(c) Within
a
reasonable period of time after the end of each calendar year, the Trust
Administrator shall cause to be furnished upon request to each Person who at
any
time during the calendar year was a Certificateholder, a statement containing
the information set forth in clauses (a)(i), (a)(ii) and (a)(iv) of this
Section 4.04 aggregated for such calendar year or applicable portion
thereof during which such Person was a Certificateholder. Such
obligation of the Trust Administrator shall be deemed to have been satisfied
to
the extent that substantially comparable information shall be provided by the
Trust Administrator pursuant to any requirements of the Code as from time to
time in effect.
(d) With
respect to each Distribution Date, prior to the issuance of the related monthly
statement to Certificateholders pursuant to Section 4.04 (each, a “Distribution
Date Statement”) by the Trust Administrator, the Master Servicer shall confirm
that it has received all distribution and/or servicing information required
to
be provided to the Master Servicer, pursuant and to the extent set forth in
each
Servicing Agreement, by the related Servicer for inclusion in such Distribution
Date Statement. In the event the Master Servicer determines that any
such information has not been provided as required or is materially incorrect,
the Master Servicer shall immediately notify the related Servicer and use its
reasonable best efforts to cause such Servicer to provide or correct, as the
case may be, such information promptly (but in any event in time to permit
the
Trust Administrator to make available the Distribution Date Statement at the
time required in this Agreement).
ARTICLE
V
THE
CERTIFICATES
Section
5.01 The
Certificates. The Certificates shall be substantially in the
forms attached hereto in Exhibits A through
E. The Certificates shall be issuable in registered form,
in
the minimum denominations, integral multiples in excess thereof (except that
one
Certificate in each Class may be issued in a different amount) and
aggregate denominations per Class set forth in the Preliminary
Statement.
Subject
to Section 10.02 hereof respecting the final distribution on the
Certificates, on each Distribution Date the Trust Administrator shall make
distributions to each Certificateholder of record on the preceding Record Date
either (x) by wire transfer in immediately available funds to the account
of such Holder at a bank or other entity having appropriate facilities therefor,
if such Holder has so notified the Trust Administrator in writing at least
five
Business Days prior to the related Record Date or (y) by check mailed by
first class mail to such Certificateholder at the address of such Holder
appearing in the Certificate Register.
The
Certificates shall be executed by manual or facsimile signature on behalf of
the
Trust Administrator by an authorized officer. Certificates bearing
the manual or facsimile signatures of individuals who were, at the time when
such signatures were affixed, authorized to sign on behalf of the Trust
Administrator shall bind the Trust Administrator, notwithstanding that such
individuals or any of them have ceased to be so authorized prior to the
authentication and delivery of such Certificates or did not hold such offices
at
the date of such Certificate. No Certificate shall be entitled to any
benefit under this Agreement, or be valid for any purpose, unless authenticated
by the Trust Administrator by manual signature, and such authentication upon
any
Certificate shall be conclusive evidence, and the only evidence, that such
Certificate has been duly executed and delivered hereunder. All
Certificates shall be dated the date of their authentication. On the
Closing Date, the Trust Administrator shall authenticate the Certificates to
be
issued at the direction of the Depositor, or any affiliate
thereof. The Depositor shall provide, or cause to be provided, to the
Trust Administrator on a continuous basis, an adequate inventory of Certificates
to facilitate transfers.
Section
5.02 Certificate
Register; Registration of Transfer and Exchange of
Certificates. (a) The Trust Administrator shall
maintain, or cause to be maintained in accordance with the provisions of this
Section 5.02 hereof, a Certificate Register for the Trust Fund in which,
subject to the provisions of subsections (b) and (c) below and to such
reasonable regulations as it may prescribe, the Trust Administrator shall
provide for the registration of Certificates and of transfers and exchanges
of
Certificates as herein provided. Upon surrender for registration of
transfer of any Certificate, the Trust Administrator shall execute and deliver,
in the name of the designated transferee or transferees, one or more new
Certificates of the same Class and aggregate Percentage
Interest.
At
the
option of a Certificateholder, Certificates may be exchanged for other
Certificates of the same Class in authorized denominations and evidencing the
same aggregate Percentage Interest upon surrender of the Certificates to be
exchanged at the office or agency of the Trust
Administrator. Whenever any Certificates are so surrendered for
exchange, the Trust Administrator shall execute, authenticate, and deliver
the
Certificates which the Certificateholder making the exchange is entitled to
receive. Every Certificate presented or surrendered for registration
of transfer or exchange shall be accompanied by a written instrument of transfer
in form satisfactory to the Trust Administrator duly executed by the Holder
thereof or his attorney duly authorized in writing.
No
service charge to the Certificateholders shall be made for any registration
of
transfer or exchange of Certificates, but payment of a sum sufficient to cover
any tax or governmental charge that may be imposed in connection with any
transfer or exchange of Certificates may be required by the Trust
Administrator.
All
Certificates surrendered for registration of transfer or exchange shall be
canceled and subsequently destroyed by the Trust Administrator in accordance
with the Trust Administrator’s customary procedures.
(b) No
transfer of a Private Certificate shall be made unless such transfer is made
pursuant to an effective registration statement under the Securities Act and
any
applicable state securities laws or is exempt from the registration requirements
under said Act and such state securities laws. In the event that a
transfer is to be made in reliance upon an exemption from the Securities Act
and
such laws, in order to assure compliance with the Securities Act and such laws,
the Certificateholder desiring to effect such transfer and such
Certificateholder’s prospective transferee (other than the Depositor or an
affiliate of the Depositor) shall each certify to the Trust Administrator in
writing the facts surrounding the transfer in substantially the forms set forth
in Exhibit I (the “Transferor Certificate”) and
(i) deliver a letter in substantially the form of either
Exhibit J (the “Investment Letter”) or Exhibit K
(the “Rule 144A Letter”) or (ii) there shall be delivered to
the Trust Administrator at the expense of the transferor an Opinion of Counsel
addressed to the Trust Administrator that such transfer may be made pursuant
to
an exemption from the Securities Act. The Depositor shall provide to
any Holder of a Private Certificate and any prospective transferee designated
by
any such Holder, information regarding the related Certificates and the Mortgage
Loans and such other information as shall be necessary to satisfy the condition
to eligibility set forth in Rule 144A(d)(4) for transfer of any such
Certificate without registration thereof under the Securities Act pursuant
to
the registration exemption provided by Rule 144A. The Trustee,
the Trust Administrator and the Master Servicer shall cooperate with the
Depositor, in accordance with the Depositor’s request, in providing the
Rule 144A information referenced in the preceding sentence, including
providing to the Depositor, to the extent in its possession, such information
regarding the Certificates, the Mortgage Loans and other matters regarding
the
Trust Fund as the Depositor shall reasonably request to meet its obligation
under the preceding sentence. Each Holder of a Private Certificate
desiring to effect such transfer shall, and does hereby agree to, indemnify
the
Trustee, the Trust Administrator, the Depositor, and the Master Servicer against
any liability that may result if the transfer is not so exempt or is not made
in
accordance with such federal and state laws.
No
transfer of an ERISA Restricted Certificate (except for any Subordinate
Certificate) or any interest therein shall be made to any Plan, any Person
acting, directly or indirectly, on behalf of any such Plan or any Person
acquiring such Certificates with “Plan Assets” of a Plan within the meaning of
the Department of Labor regulation promulgated at 29 C. F. R. § 2510.3-101
(“Plan Assets”), as certified by such transferee, unless the Trust Administrator
is provided with an Opinion of Counsel for the benefit of the Trustee, the
Trust
Administrator, the Depositor, the Master Servicer and the Servicers and on
which
they may rely which establishes to the satisfaction of the Depositor, the
Trustee, the Trust Administrator, the Servicers and the Master Servicer that
the
purchase of such Certificates is permissible under applicable law, will not
constitute or result in any prohibited transaction under ERISA or Section 4975
of the Code and will not subject the Depositor, the Master Servicer, the
Servicers, the NIMS Insurer, the Trust Administrator, the Trustee or the Trust
Fund to any obligation or liability (including obligations or liabilities under
ERISA or Section 4975 of the Code) in addition to those undertaken in this
Agreement, which Opinion of Counsel shall not be an expense of the Depositor,
the Master Servicer, the Servicers, the Trust Administrator, the Trustee or
the
Trust Fund. Neither an Opinion of Counsel nor any certification will be required
in connection with (i) the initial transfer of any such ERISA Restricted
Certificate by the Depositor to an Affiliate of the Depositor, (ii) the transfer
of any such ERISA Restricted Certificate to the issuer under the Indenture
or
the indenture trustee under the Indenture or (iii) a transfer of any such ERISA
Restricted Certificate from the issuer under the Indenture or the indenture
trustee under the Indenture to the Depositor or an Affiliate of the Depositor
(in which case, the Transferee thereof shall have deemed to have represented
that it is not a Plan or a Person investing Plan Assets) and the Trust
Administrator shall be entitled to conclusively rely upon a representation
(which, upon the request of the Trust Administrator, shall be a written
representation) from the Transferor of the status of such transferee as an
affiliate of the Depositor.
Each
beneficial owner of a Subordinate Certificate or any interest therein shall
be
deemed to have represented, by virtue of its acquisition or holding of that
certificate or interest therein, that either (i) it is not a Plan or investing
with “Plan Assets,” (ii) except in the case of an ERISA Restricted Certificate,
it has acquired and is holding such Subordinate Certificate in reliance on
the
Exemption, and that it understands that there are certain conditions to the
availability of the Exemption, including that the Subordinate Certificate must
be rated, at the time of purchase not lower than “BBB-” (or its equivalent) by
S&P, Moody’s, Fitch, Dominion Bond Rating Service Limited (known as “DBRS
Limited”) or Dominion Bond Rating Service, Inc. (known as “DBRS, Inc.”) (each,
an “Exemption Rating Agency”) or (iii)(1) it is an insurance company, (2) the
source of funds used to acquire or hold the certificate or interest therein
is
an “insurance company general account,” as such term is defined in PTE 95-60,
and (3) the conditions in Sections I and III of PTE 95-60 have been
satisfied.
If
any
Subordinate Certificate or ERISA Restricted Certificate or any interest therein
is acquired or held in violation of the provisions of the preceding two
paragraphs, the next preceding permitted beneficial owner will be treated as
the
beneficial owner of that Certificate retroactive to the date of transfer to
the
purported beneficial owner. Any purported beneficial owner whose acquisition
or
holding of any such Certificate or interest therein was effected in violation
of
the provisions of the preceding two paragraphs shall indemnify and
hold harmless the Depositor, the Master Servicer, each Servicer, the NIMS
Insurer, the Trust Administrator, the Trustee and the Trust Fund from and
against any and all liabilities, claims, costs or expenses incurred by those
parties as a result of that acquisition or holding.
(c) Each
Person who has or who acquires any Ownership Interest in a Residual Certificate
shall be deemed by the acceptance or acquisition of such Ownership Interest
to
have agreed to be bound by the following provisions, and the rights of each
Person acquiring any Ownership Interest in a Residual Certificate are expressly
subject to the following provisions:
(i) Each
Person holding or acquiring any Ownership Interest in a Residual Certificate
shall be a Permitted Transferee and shall promptly notify the Trust
Administrator of any change or impending change in its status as a Permitted
Transferee.
(ii) No
Ownership Interest in a Residual Certificate may be registered on the Closing
Date or thereafter transferred, and the Trust Administrator shall not register
the Transfer of any Residual Certificate unless, in addition to the certificates
required to be delivered to the Trust Administrator under subparagraph (b)
above, the Trust Administrator shall have been furnished with an affidavit
(a
“Transfer Affidavit”) of the initial owner or the proposed transferee
(other than the Depositor of an affiliate thereof) in the form attached hereto
as Exhibit H.
(iii) Each
Person holding or acquiring any Ownership Interest in a Residual Certificate
shall agree (A) to obtain a Transfer Affidavit from any other Person to
whom such Person attempts to Transfer its Ownership Interest in a Residual
Certificate, (B) to obtain a Transfer Affidavit from any Person for whom
such Person is acting as nominee, trustee or agent in connection with any
Transfer of a Residual Certificate and (C) not to Transfer its Ownership
Interest in a Residual Certificate or to cause the Transfer of an Ownership
Interest in a Residual Certificate to any other Person if it has actual
knowledge that such Person is not a Permitted Transferee.
(iv) Any
attempted or purported Transfer of any Ownership Interest in a Residual
Certificate in violation of the provisions of this Section 5.02(c) shall be
absolutely null and void and shall vest no rights in the purported
transferee. If any purported transferee shall become a Holder of a
Residual Certificate in violation of the provisions of this
Section 5.02(c), then the last preceding Permitted Transferee shall be
restored to all rights as Holder thereof retroactive to the date of registration
of Transfer of such Residual Certificate. The Trust Administrator
shall be under no liability to any Person for any registration of Transfer
of a
Residual Certificate that is in fact not permitted by Section 5.02(b) and
this Section 5.02(c) or for making any payments due on such Certificate to
the Holder thereof or taking any other action with respect to such Holder under
the provisions of this Agreement so long as the Transfer was registered after
receipt of the related Transfer Affidavit, Transferor Certificate and either
the
Rule 144A Letter or the Investment Letter. The Trust
Administrator shall be entitled but not obligated to recover from any Holder
of
a Residual Certificate that was in fact not a Permitted Transferee at the time
it became a Holder or, at such subsequent time as it became other than a
Permitted Transferee, all payments made on such Residual Certificate at and
after either such time. Any such payments so recovered by the Trust
Administrator shall be paid and delivered by the Trust Administrator to the
last
preceding Permitted Transferee of such Certificate.
(v) The
Depositor shall use its best efforts to make available, upon receipt of written
request from the Trust Administrator, all information necessary to compute
any
tax imposed under Section 860E(e) of the Code as a result of a Transfer of
an Ownership Interest in a Residual Certificate to any Holder who is not a
Permitted Transferee described in clauses (i) through (iv) of the
definition thereof.
The
restrictions on Transfers of a Residual Certificate set forth in this
Section 5.02(c) shall cease to apply (and the applicable portions of the
legend on a Residual Certificate may be deleted) with respect to Transfers
occurring after delivery to the Trust Administrator of an Opinion of Counsel
addressed to the Trust Administrator and the Master Servicer, which Opinion
of
Counsel shall not be an expense of the Trust Fund, the Trustee, the Trust
Administrator, the Transferor or the Master Servicer, to the effect that the
elimination of such restrictions will not cause any REMIC hereunder to fail
to
qualify as a REMIC at any time that the Certificates are outstanding or result
in the imposition of any tax on the Trust Fund, a Certificateholder or another
Person. Each Person holding or acquiring any Ownership Interest in a
Residual Certificate hereby consents to any amendment of this Agreement which,
based on an Opinion of Counsel addressed to the Trust Administrator, is
reasonably necessary (a) to ensure that the record ownership of, or any
beneficial interest in, a Residual Certificate is not transferred, directly
or
indirectly, to a Person that is not a Permitted Transferee and (b) to
provide for a means to compel the Transfer of a Residual Certificate which
is
held by a Person that is not a Permitted Transferee to a Holder that is a
Permitted Transferee.
(d) The
preparation and delivery of all certificates and opinions referred to above
in
this Section 5.02 in connection with transfer shall be at the expense of
the parties to such transfers.
(e) Except
as
provided below, the Book-Entry Certificates shall at all times remain registered
in the name of the Depository or its nominee and at all
times: (i) registration of the Certificates may not be
transferred by the Trust Administrator except to another Depository;
(ii) the Trust Administrator shall cause the Depository to maintain book
entry records with respect to the Certificate Owners and with respect to
ownership and transfers of such Book-Entry Certificates; (iii) ownership
and transfers of registration of the Book-Entry Certificates on the books of
the
Depository shall be governed by applicable rules established by the Depository;
(iv) the Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trust Administrator
shall deal with the Depository, Depository Participants and indirect
participating firms as representatives of the Certificate Owners of the
Book-Entry Certificates for purposes of exercising the rights of Holders under
this Agreement, and requests and directions for and votes of such
representatives shall not be deemed to be inconsistent if they are made with
respect to different Certificate Owners; and (vi) the Trust Administrator
may conclusively rely and shall be fully protected in relying upon information
furnished by the Depository with respect to its Depository Participants and
furnished by the Depository Participants with respect to indirect participating
firms and persons shown on the books of such indirect participating firms as
direct or indirect Certificate Owners.
All
transfers by Certificate Owners of Book-Entry Certificates shall be made in
accordance with the procedures established by the Depository Participant or
brokerage firm representing such Certificate Owner. Each Depository
Participant shall only transfer Book-Entry Certificates of Certificate Owners
it
represents or of brokerage firms for which it acts as agent in accordance with
the Depository’s normal procedures.
If
(x) (i) the Depository or the Depositor advises the Trust
Administrator in writing that the Depository is no longer willing, qualified
or
able to properly discharge its responsibilities as Depository, and (ii) the
Depositor is unable to locate a qualified successor, (y) the Depositor
notifies the Trust Administrator and the Depository of its intent to terminate
the book entry system through the Depository and, upon receipt of notice of
such
intent from the Depository, the Depository Participants holding beneficial
interests in the Book-Entry Certificates agree to initiate such termination,
or
(z) after the occurrence of a Master Servicer Event of Termination,
Certificate Owners representing at least 51% of the Class Principal Balance
of
the Book-Entry Certificates together advise the Trust Administrator and the
Depository through the Depository Participants in writing that the continuation
of a book entry system through the Depository is no longer in the best interests
of the Certificate Owners and the Depository Participants consent to the
termination, the Trust Administrator, upon receipt of notice of such event,
shall notify all Certificate Owners, through the Depository, of the occurrence
of any such event and of the availability of definitive, fully registered
Certificates (the “Definitive Certificates”) to Certificate Owners
requesting the same. Upon surrender to the Trust Administrator of the
related Class of Certificates by the Depository, accompanied by the instructions
from the Depository for registration, the Trust Administrator shall issue the
Definitive Certificates. None of the Master Servicer, the Depositor
nor the Trust Administrator shall be liable for any delay in delivery of such
instruction and each may conclusively rely on, and shall be protected in relying
on, such instructions. Upon the issuance of Definitive Certificates
all references herein to obligations imposed upon or to be performed by the
Depository shall be deemed to be imposed upon and performed by the Trust
Administrator, to the extent applicable with respect to such Definitive
Certificates and the Trust Administrator shall recognize the Holders of the
Definitive Certificates as Certificateholders hereunder; provided that
the Trust Administrator shall not by virtue of its assumption of such
obligations become liable to any party for any act or failure to act of the
Depository.
Section
5.03 Mutilated,
Destroyed, Lost or Stolen Certificates. If (a) any mutilated
Certificate is surrendered to the Trust Administrator, or the Trust
Administrator receives evidence to its satisfaction of the destruction, loss
or
theft of any Certificate and (b) there is delivered to the Master Servicer
and the Trust Administrator such security or indemnity as may be required by
them to save each of them harmless, then, in the absence of notice to the Trust
Administrator that such Certificate has been acquired by a bona fide purchaser,
the Trust Administrator shall execute, authenticate and deliver, in exchange
for
or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a
new
Certificate of like Class, tenor and Percentage Interest. In
connection with the issuance of any new Certificate under this
Section 5.03, the Trust Administrator may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed
in
relation thereto and any other expenses (including the fees and expenses of
the
Trust Administrator) and its counsel connected therewith. Any
replacement Certificate issued pursuant to this Section 5.03 shall
constitute complete and indefeasible evidence of ownership, as if originally
issued, whether or not the lost, stolen or destroyed Certificate shall be found
at any time.
Section
5.04 Persons
Deemed Owners. The Master Servicer, the Trustee, the Trust
Administrator and any agent of the Master Servicer, the Trustee or the Trust
Administrator may treat the Person in whose name any Certificate is registered
as the owner of such Certificate for the purpose of receiving distributions
as
provided in this Agreement and for all other purposes whatsoever, and none
of
the Master Servicer, the Trustee, the Trust Administrator nor any agent of
the
Master Servicer, the Trustee or the Trust Administrator shall be affected by
any
notice to the contrary.
Section
5.05 Access
to List of Certificateholders’ Names and Addresses. If three or
more Certificateholders (a) request such information in writing from the
Trust Administrator, (b) state that such Certificateholders desire to
communicate with other Certificateholders with respect to their rights under
this Agreement or under the Certificates, and (c) provide a copy of the
communication which such Certificateholders propose to transmit, or if the
Depositor or Master Servicer shall request such information in writing from
the
Trust Administrator, then the Trust Administrator shall, within ten Business
Days after the receipt of such request, provide the Depositor, the Master
Servicer or such Certificateholders at such recipients’ expense the most recent
list of the Certificateholders of such Trust Fund held by the Trust
Administrator, if any. The Depositor and every Certificateholder, by
receiving and holding a Certificate, agree that the Trust Administrator shall
not be held accountable by reason of the disclosure of any such information
as
to the list of the Certificateholders hereunder, regardless of the source from
which such information was derived.
Section
5.06 Maintenance
of Office or Agency. Certificates may be surrendered for
registration of transfer or exchange at the Corporate Trust Office of the Trust
Administrator. The Trust Administrator will give prompt written
notice to the Certificateholders of any change in such location of any such
office or agency.
Section
5.07 Exchangeable
REMIC Certificates and Exchangeable
Certificates. (a) On the Closing Date, there is hereby
established a separate trust (the “Grantor Trust”), which shall be a Grantor
Trust for federal income tax purposes. The Grantor Trust shall be
maintained by the Trust Administrator in its name, for the benefit of the
Holders of the Certificates. The assets of the Grantor Trust shall
consist of the REMIC II Regular Interests, which have been placed in the Grantor
Trust. The REMIC II Regular Interests in the Grantor Trust shall be held by
the
Trust Administrator. On the Closing Date, the Grantor Trust shall
issue the several Classes of Exchangeable REMIC Certificates and Exchangeable
Certificates. Each Class of Exchangeable Certificates shall be issued on the
Closing Date with a Class Principal Amount of zero. Upon the sale of
the Certificates on the Closing Date, the Exchangeable Certificates shall be
placed with the Trust Administrator to be held to facilitate the exchange of
Exchangeable REMIC Certificates and Exchangeable Certificates on and after
the
Closing Date. Among the Exchangeable REMIC Certificates and
Exchangeable Certificates, the beneficial interest of the REMIC II Regular
Interests shall be represented by the related Exchangeable REMIC Certificates
until such Exchangeable REMIC Certificates have been exchanged for Exchangeable
Certificates, at which time, such Exchangeable Certificates shall represent
those REMIC II Regular Interests.
The
Trust
Administrator shall establish and maintain, on behalf of the Holders of the
Classes of Exchangeable REMIC Certificates and Exchangeable Certificates, the
Exchangeable Certificates Distribution Account. All funds on deposit
in the Exchangeable Certificates Distribution Account shall be held separate
and
apart from, and shall not be commingled with, any other moneys, including
without limitation, other moneys held by the Trust Administrator pursuant to
this Agreement; provided, however, that the Exchangeable Certificates
Distribution Account may be deemed to be a sub-account of the Distribution
Account.
On
each
Distribution Date, the Trust Administrator, as holder of any surrendered
Exchangeable REMIC Certificates, shall deposit in the Exchangeable Certificates
Distribution Account any amounts distributable to the surrendered Exchangeable
REMIC Certificates pursuant to Section 4.02. For the avoidance of
doubt, if on any Distribution Date no Classes of Exchangeable REMIC Certificates
have been surrendered or if all Classes of Exchangeable Certificates have been
exchanged for Exchangeable REMIC Certificates according to Section 5.07(e),
then
no amounts will be deposited in the Exchangeable Certificates Deposit Account
on
such Distribution Date.
On
each
Distribution Date, the Trust Administrator shall make withdrawals from the
Exchangeable Certificates Distribution Account to make distributions to the
Classes of Exchangeable Certificates then entitled to distributions pursuant
to
Section 5.07(b).
Funds
in
the Exchangeable Certificates Distribution Account shall remain
uninvested.
(b) On
each Distribution Date, the Trust Administrator shall withdraw funds on deposit
in the Exchangeable Certificates Distribution Account on deposit therein from
distributions to the surrendered Exchangeable REMIC Certificates for such
Distribution Date and distribute such amount to the Holders of each related
Class of Exchangeable Certificates. Amounts related to interest
distributed to the surrendered Exchangeable REMIC Certificates shall be
distributed as interest to the related Class or Classes of Exchangeable
Certificates pursuant to Section 4.02. All distributions of principal
to the Exchangeable Certificates shall be made pro rata among the Classes of
Exchangeable Certificates (other than the Interest Only
Certificates). All distributions that are made with respect to a
particular Class of Exchangeable Certificates shall be made pro rata among
all
Certificates of such Class in proportion to their respective Certificate
Principal Amounts or Notional Amounts.
In
addition, the Trust Administrator may from time to time make withdrawals from
the Exchangeable Certificates Distribution Account for the following
purposes:
|
(i)
|
to
withdraw any amount deposited in the Exchangeable Certificates
Distribution Account and not required to be deposited therein;
and
|
|
(ii)
|
to
clear and terminate the Exchangeable Certificates Distribution Account
upon the termination of this
Agreement.
|
(c) On
each Distribution Date on which a Class of Exchangeable Certificates shall
be
entitled to receive distributions pursuant to Section 5.07(b), such Class shall
be allocated a proportionate share of the Net Prepayment Interest Shortfalls,
the interest portion of Debt Service Reductions, Deficient Valuations and Relief
Act Reductions allocable to the related Classes of Exchangeable REMIC
Certificates.
(d) On
each Distribution Date on which a Class of Exchangeable Certificates (other
than
the Interest Only Certificates) shall be entitled to receive distributions
pursuant to Section 5.07(b), such Class shall be allocated a proportionate
share
of the Realized Losses (including Excess Losses) allocable to the related
Classes of Exchangeable REMIC Certificates.
(e) Upon
the presentation and surrender of the Exchangeable REMIC Certificates, the
Holder thereof transfers, assigns, sets over and otherwise conveys to the Trust
Administrator, all of such Holder’s right, title and interest in and to such
Exchangeable REMIC Certificates, including all payments of interest thereon
received after the month of the exchange. The Trust Administrator on
behalf of the Grantor Trust shall furnish written acknowledgement to the Holder
of such surrendered Certificate of the transfer and assignment to it of such
Exchangeable REMIC Certificates.
At
the
request of the Holder of a Class or Classes of Exchangeable REMIC Certificates,
and upon the surrender of such Exchangeable REMIC Certificates, the Trust
Administrator shall deliver such related Exchangeable Certificates in the
respective denominations determined based on the proportion that the initial
Class Principal Amount or initial Notional Amounts of such Exchangeable
Certificates bear to the initial Class Principal Amounts of the Exchangeable
REMIC Certificates, which shall represent in the aggregate, the entire
beneficial ownership of the REMIC II Regular Interests related to such
surrendered Certificates. In addition, at the request of the Holder
of a Class or Classes of Exchangeable Certificates, and upon the surrender
of
such Exchangeable Certificates, the Trust Administrator shall exchange such
Exchangeable Certificates for another Class or Classes of Exchangeable
Certificates or the related surrendered Exchangeable REMIC
Certificates. There shall be no limitation on the number of
exchanges authorized pursuant to this Section 5.07.
If
a
Certificateholder of an Exchangeable REMIC Certificate or Exchangeable
Certificate wishes to exchange certificates, the Certificateholder must notify
the Trust Administrator by e-mail at xxxxxxxxxxxxxxx@xxxxxxxxxx.xxx no later
than two (2) Business Days prior to the date on which the Certificateholder
wishes to make such exchange (the “Exchange Date”). The Exchange Date
can be any Business Day from the 25th day of the month through the second to
last Business Day of the month, subject to the Trust Administrator’s
approval. The notice must be on the Certificateholder’s letterhead,
carry a medallion stamp guarantee and set forth the following information:
the
CUSIP number of each Certificate to be exchanged and each Certificate to be
received, outstanding Certificate Principal Amount or Class Notional Amount
and
the original Certificate Principal Amount or Class Notional Amount of the
Certificates to be exchanged, the Certificateholder’s DTC participant number and
the proposed exchange date. After receiving notice, the Trust
Administrator shall e-mail the Certificateholder with wire payment instructions
relating to the exchange fee. The Certificateholder will utilize the
Deposit and Withdrawal System at DTC to exchange the Certificates. If
there is an error, the exchange will not occur until such error is
corrected. A notice becomes irrevocable on the second Business Day
before the proposed Exchange Date.
Notwithstanding
any other provision herein set forth, an exchange fee of $5,000 shall be payable
to the Trust Administrator in connection with each exchange.
The
Trust
Administrator will make the first distribution on an Exchangeable REMIC
Certificate or an Exchangeable Certificate received in an exchange transaction
on the Distribution Date in the month following the month of the exchange to
the
Certificateholder of record on the close of business on the last day of the
month of the exchange.
(f) The
REMIC II Regular Interests shall be issued in uncertificated form and
transferred to the Trustee.
ARTICLE
VI
THE
DEPOSITOR, THE CUSTODIAN AND THE MASTER SERVICER
Section
6.01 Respective
Liabilities of the Depositor, the Master Servicer and the
Custodian. The Depositor, the Master Servicer and the Custodian
shall each be liable in accordance herewith only to the extent of the
obligations specifically and respectively imposed upon and undertaken by them
herein.
Section
6.02 Merger
or Consolidation of the Depositor, the Master Servicer and the
Custodian. The Depositor, the Master Servicer and the Custodian
will each keep in full effect its existence, rights and franchises as a
corporation or national banking association, as the case may be, under the
laws
of the United States or under the laws of one of the states thereof and will
each obtain and preserve its qualification to do business as a foreign
corporation or legal entity, as the case may be, in each jurisdiction in which
such qualification is or shall be necessary to protect the validity and
enforceability of this Agreement, or any of the Mortgage Loans and to perform
its respective duties under this Agreement.
Any
Person into which the Depositor, the Master Servicer or the Custodian may be
merged or consolidated, or any Person resulting from any merger or consolidation
to which the Depositor, the Master Servicer or the Custodian shall be a party,
or any person succeeding to the business of the Depositor, the Master Servicer
or the Custodian, shall be the successor of the Depositor, the Master Servicer
or the Custodian, as the case may be, hereunder, without the execution or filing
of any paper or any further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding; provided,
however, that the successor or surviving Person to the Master Servicer
shall be qualified to service mortgage loans on behalf of Xxxxxx Xxx or Xxxxxxx
Mac.
Section
6.03 Limitation
on Liability of the Depositor, the Transferor, the Master Servicer, the
Custodian and Others. None of the Depositor, the Transferor, the
Master Servicer, the Custodian or any of the directors, officers, employees
or
agents of the Depositor, the Transferor, the Custodian or the Master Servicer
shall be under any liability to the Trust for any action taken or for refraining
from the taking of any action in good faith pursuant to this Agreement, or
for
errors in judgment; provided, however, that this provision shall
not protect the Depositor, the Transferor, the Master Servicer, the Custodian
or
any such Person against any breach of representations or warranties made by
it
herein or protect the Depositor, the Transferor, the Master Servicer, the
Custodian or any such Person from any liability which would otherwise be imposed
by reason of willful misfeasance, bad faith or negligence in the performance
of
duties or by reason of reckless disregard of obligations and duties
hereunder. The Depositor, the Transferor, the Master Servicer, the
Custodian and any Affiliate, director, officer, employee or agent of the
Depositor, the Transferor, the Master Servicer or the Custodian may rely in
good
faith on any document of any kind prima facie properly executed and
submitted by any Person respecting any matters arising hereunder. The
Depositor and its Affiliates, the Transferor, the Master Servicer, the Custodian
and any director, officer, employee or agent of the Depositor or its Affiliates,
the Transferor, the Master Servicer or the Custodian shall be indemnified by
the
Trust Fund and held harmless against any loss, liability or expense incurred
in
connection with (i) any audit, controversy or judicial proceeding relating
to a governmental taxing authority, (ii) the performance of its duties and
obligations and the exercise of (or failure to exercise) its rights under this
Agreement (including, with respect to the Mortgage Loans or the Certificates),
or (iii) any legal action relating to this Agreement (including, with
respect to the Mortgage Loans) or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or Mortgage Loans
(except as any such loss, liability or expense shall be otherwise reimbursable
pursuant to this Agreement) and any loss, liability or expense incurred by
reason of willful misfeasance, bad faith or negligence in the performance of
duties hereunder or by reason of reckless disregard of obligations and duties
hereunder, provided that any such loss, liability or expense constitutes
an “unanticipated expense incurred by the REMIC” within the meaning of the REMIC
Provisions. None of the Depositor, the Transferor, the Master
Servicer and the Custodian shall be under any obligation to appear in, prosecute
or defend any legal action that is not incidental to its respective duties
hereunder and which in its opinion may involve it in any expense or liability;
provided, however, that any of the Depositor, the Transferor, the
Custodian or the Master Servicer may in its discretion undertake any such action
that it may deem necessary or desirable in respect of this Agreement and the
rights and duties of the parties hereto and interests of the Trustee, the Trust
Administrator and the Certificateholders hereunder. In such event,
the legal expenses and costs of such action and any liability resulting
therefrom shall be expenses, costs and liabilities of the Trust Fund, and the
Depositor, the Transferor, the Master Servicer and the Custodian shall be
entitled to be reimbursed therefor out of the Collection Account.
Section
6.04 Limitation
on Resignation of Master Servicer. The Master Servicer shall not
resign from the obligations and duties hereby imposed on it except (a) upon
appointment of a successor master servicer and receipt by the Trustee of a
letter from each Rating Agency that such a resignation and appointment will
not
result in a downgrading of the rating of any of the Certificates, (b) upon
determination that its duties hereunder are no longer permissible under
applicable law or (c) pursuant to Section 6.05. Any such
determination under clause (b) permitting the resignation of the Master
Servicer shall be evidenced by an Opinion of Counsel to such effect delivered
to
the Trustee. No such resignation shall become effective until the
Trustee or a successor master servicer shall have assumed the Master Servicer’s
responsibilities, duties, liabilities and obligations hereunder.
Section
6.05 Sale
and Assignment of Master Servicing Rights. The Master Servicer
may sell, assign or delegate its rights, duties and obligations as Master
Servicer under this Agreement in their entirety; provided,
however, that: (i) the purchaser or transferee accepting
such sale, assignment and delegation (a) shall be a Person qualified to
service mortgage loans for Xxxxxx Xxx or Xxxxxxx Mac; (b) shall have a net
worth of not less than $50,000,000 (unless otherwise approved by each Rating
Agency pursuant to clause (ii) below); (c) shall be reasonably
satisfactory to the Trustee (as evidenced in a writing signed by the Trustee);
and (d) shall execute and deliver to the Trustee an agreement, in form and
substance reasonably satisfactory to the Trustee, which contains an assumption
by such Person of the due and punctual performance and observance of each
covenant and condition to be performed or observed by it as master servicer
under this Agreement from and after the effective date of such assumption
agreement or delegation; (ii) each Rating Agency shall be given prior written
notice of the identity of the proposed successor to the Master Servicer and
shall confirm in writing to the Master Servicer and the Trustee that any such
sale, assignment or delegation would not result in a withdrawal or a downgrading
of the rating on any Class of Certificates in effect immediately prior to such
sale, assignment or delegation; and (iii) the Master Servicer shall deliver
to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that all conditions precedent to such action under this Agreement have been
fulfilled and such action is permitted by and complies with the terms of this
Agreement. No such sale, assignment or delegation shall affect any
liability of the Master Servicer arising prior to the effective date
thereof.
Section
6.06 Fees
of the Custodian. The Custodian shall be compensated as
separately agreed in writing with the Master Servicer.
ARTICLE
VII
DEFAULT
Section
7.01 Events
of Default. “Master Servicer Event of Termination,”
wherever used herein, means any one of the following events:
(i) The
Master Servicer fails to cause to be deposited in the Distribution Account
any
amount so required to be deposited pursuant to this Agreement, and such failure
continues unremedied for a period of one Business Day; or
(ii) The
Master Servicer fails to observe or perform in any material respect any other
material covenants and agreements set forth in this Agreement to be performed
by
it, which covenants and agreements materially affect the rights of
Certificateholders, and such failure continues unremedied for a period of
60 days after the date on which written notice of such failure, properly
requiring the same to be remedied, shall have been given to the Master Servicer
by the Trustee or to the Master Servicer and the Trustee or the Trust
Administrator by the Holders of Certificates evidencing Voting Rights
aggregating not less than 25% of the Certificates; or
(iii) There
is
entered against the Master Servicer a decree or order by a court or agency
or
supervisory authority having jurisdiction in the premises for the appointment
of
a conservator, receiver or liquidator in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceedings, or for the winding
up or liquidation of its affairs, and the continuance of any such decree or
order is unstayed and in effect for a period of 60 consecutive days, or an
involuntary case is commenced against the Master Servicer under any applicable
insolvency or reorganization statute and the petition is not dismissed within
60 days after the commencement of the case; or
(iv) The
Master Servicer consents to the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and
liabilities or similar proceedings of or relating to the Master Servicer or
substantially all of its property; or the Master Servicer admits in writing
its
inability to pay its debts generally as they become due, files a petition to
take advantage of any applicable insolvency or reorganization statute, makes
an
assignment for the benefit of its creditors, or voluntarily suspends payment
of
its obligations;
(v) The
Master Servicer assigns or delegates its duties or rights under this Agreement
in contravention of the provisions permitting such assignment or delegation
under Section 6.04; or
(vi) any
failure by the Master Servicer to comply with Sections 3.21 or
3.22.
In
each
and every such case, so long as such Master Servicer Event of Termination with
respect to the Master Servicer shall not have been remedied, the Trustee may,
and (i) at the direction of the Holders of Certificates evidencing Voting Rights
aggregating not less than 25% of the Certificates or (ii) if such Master
Servicer Event of Termination is related to a failure by the Master Servicer
to
make any Advance required to be made by it pursuant to the terms of this
Agreement or perform its obligations under Sections 3.21 or 3.22 of this
Agreement, the Trustee shall, in each case by notice in writing to the Master
Servicer, with a copy to the Rating Agencies, terminate all of the rights and
obligations (but not the liabilities accruing prior to the date of termination)
of the Master Servicer under this Agreement and in and to the Mortgage Loans
and/or the REO Property serviced by the Master Servicer and the proceeds thereof
provided, however, with respect to an Event of Default set forth in clause
(vi),
the Depositor, at its sole option, but with the consent of the Trustee, may
permit a cure period for the Master Servicer to deliver such Assessment of
Compliance or Accountant’s Attestation, but in no event later than March 25th of
such year. Upon the receipt by the Master Servicer of such written
notice, all authority and power of the Master Servicer under this Agreement,
whether with respect to the Certificates, the Mortgage Loans, the Servicing
Agreements, REO Property or under any other related agreements (but only to
the
extent that such other agreements relate to the Mortgage Loans or related REO
Property) shall, subject to Section 7.02, automatically and without further
action pass to and be vested in the Trustee pursuant to this Section 7.01;
and,
without limitation, the Trustee is hereby authorized and empowered to execute
and deliver, on behalf of the Master Servicer as attorney-in-fact or otherwise,
any and all documents and other instruments and to do or accomplish all other
acts or things necessary or appropriate to effect the purposes of such notice
of
termination, whether to complete the transfer and endorsement or assignment
of
the Mortgage Loans and related documents, or otherwise. The Master
Servicer agrees to cooperate with the Trustee in effecting the termination
of
the Master Servicer’s rights and obligations hereunder, including, without
limitation, the transfer to the Trustee of (i) the Mortgage Files and all other
property and amounts which are then or should be part of the Trust or which
thereafter become part of the Trust; and (ii) originals or copies of all
documents of the Master Servicer reasonably requested by the Trustee to enable
it to assume the Master Servicer’s duties thereunder. In addition to
any other amounts which are then, or, notwithstanding the termination of its
activities under this Agreement, may become payable to the Master Servicer
under
this Agreement, the Master Servicer shall be entitled to receive, out of any
amount received on account of a Mortgage Loan or related REO Property, that
portion of such payments which it would have received as reimbursement under
this Agreement if notice of termination had not been given. The
termination of the rights and obligations of the Master Servicer shall not
affect any obligations incurred by the Master Servicer prior to such
termination.
Notwithstanding
any termination of the activities of the Master Servicer hereunder, the Master
Servicer shall be entitled to receive, out of any late collection of a Scheduled
Payment on a Mortgage Loan which was due prior to the notice terminating such
Master Servicer’s rights and obligations as Master Servicer hereunder and
received after such notice, that portion thereof to which such Master Servicer
would have been entitled pursuant to Sections 3.10(a)(i) through
(viii), and (x) and any other amounts payable to such Master Servicer hereunder
the entitlement to which arose prior to the termination of its activities
hereunder.
If
the
Master Servicer and Trust Administrator are the same Person, then at any time
the Master Servicer is terminated pursuant to this Section 7.01, the Trust
Administrator shall likewise be removed as trust administrator
hereunder.
Section
7.02 Trustee
to Act; Appointment of Successor. On and after the time the
Master Servicer receives a notice of termination pursuant to Section 7.01
hereof, the Trustee shall, subject to and to the extent provided in
Section 3.05, be the successor to the Master Servicer in its capacity as
Master Servicer under this Agreement and the transactions set forth or provided
for herein and shall be subject to all the responsibilities, duties, liabilities
and limitations on liabilities relating thereto placed on the Master Servicer
by
the terms and provisions hereof and applicable law including the obligation
to
make Advances pursuant to Section 4.01. As compensation
therefor, the Trustee shall be entitled to all compensation to which the Master
Servicer would have been entitled hereunder if the Master Servicer had continued
to act hereunder. Notwithstanding the foregoing, if the Trustee has
become the successor to the Master Servicer in accordance with Section 7.01
hereof, the Trustee may, if it shall be unwilling to so act, or shall, if it
is
prohibited by applicable law from making Advances pursuant to Section 4.01
hereof or if it is otherwise unable to so act, or if it has been requested
in
writing by Holders of Certificates evidencing not less than 25% of the Voting
Rights evidenced by the Certificates to do so, appoint, or petition a court
of
competent jurisdiction to appoint, any established mortgage loan servicing
institution the appointment of which does not adversely affect the then current
rating of the Certificates by each Rating Agency as the successor to the Master
Servicer hereunder in the assumption of all or any part of the responsibilities,
duties or liabilities of the Master Servicer hereunder. Any successor
to the Master Servicer shall be an institution which is a Xxxxxx Mae and Xxxxxxx
Mac approved seller/servicer in good standing, which has a net worth of at
least
$15,000,000, and which is willing to master service the Mortgage Loans and
executes and delivers to the Depositor and the Trustee an agreement accepting
such delegation and assignment, which contains an assumption by such Person
of
the rights, powers, duties, responsibilities, obligations and liabilities of
the
Master Servicer (other than liabilities of the Master Servicer under
Section 6.03 hereof incurred prior to termination of the Master Servicer
under Section 7.01), with like effect as if originally named as a party to
this Agreement; and provided, further, that each Rating Agency
acknowledges that its rating of the Certificates in effect immediately prior
to
such assignment and delegation will not be qualified or reduced, as a result
of
such assignment and delegation. Pending appointment of a successor to
the Master Servicer hereunder, the Trustee, unless the Trustee is prohibited
by
law from so acting, shall, subject to Section 3.05 hereof, act in such
capacity as hereinabove provided. In connection with such appointment
and assumption, the Trustee may make such arrangements for the compensation
of
such successor master servicer out of payments on Mortgage Loans as it and
such
successor master servicer shall agree; provided, however, that no
such compensation shall be in excess of the compensation permitted the Master
Servicer hereunder. The Trustee and such successor master servicer
shall take such action, consistent with this Agreement, as shall be necessary
to
effectuate any such succession. Neither the Trustee nor any other
successor master servicer shall be deemed to be in default hereunder by reason
of any failure to make, or any delay in making, any distribution hereunder
or
any portion thereof or any failure to perform, or any delay in performing,
any
duties or responsibilities hereunder, in either case caused by the failure
of
the Master Servicer to deliver or provide, or any delay in delivering or
providing, any cash, information, documents or records to it.
Any
successor master servicer as Master Servicer shall give notice to the Servicers
of such change of master servicer and shall, during the term of its service
as
master servicer enforce the requirement of the Servicers to maintain in force
the policy or policies pursuant to Section 3.11.
The
Trustee or successor master servicer shall be entitled to be reimbursed from
the
Master Servicer for all costs associated with the transfer of master servicing
from the predecessor master servicer, including, without limitation, any costs
or expenses (including but not limited to personnel time) associated with the
complete transfer of all master servicing data and the completion, correction
or
manipulation of such master servicing data as may be required by the Trustee
or
successor master servicer to correct any errors or insufficiencies in the master
servicing data or otherwise to enable the Trustee or successor master servicer
to master service the Mortgage Loans properly and effectively. If the
Master Servicer does not pay such reimbursement within thirty (30) days of
its receipt of an invoice therefor, such reimbursement shall be an expense
of
the Trust and the Trustee shall be entitled to withdraw such reimbursement
from
amounts on deposit in the Distribution Account pursuant to
Section 3.10(b)(iii); provided that the Master Servicer shall
reimburse the Trust for any such expense incurred by the Trust.
Section
7.03 Notification
to Certificateholders. (a) Upon any termination of or
appointment of a successor to the Master Servicer, the Trustee (or the Trust
Administrator on its behalf) shall give prompt written notice thereof to
Certificateholders and to each Rating Agency.
(b) Within
60 days after the occurrence of any Master Servicer Event of Termination,
the Trustee or the Trust Administrator shall transmit by mail to all
Certificateholders notice of each such Master Servicer Event of Termination
hereunder known to a Responsible Officer of the Trustee or the Trust
Administrator, unless such Master Servicer Event of Termination shall have
been
cured or waived.
ARTICLE
VIII
CONCERNING
THE TRUSTEE AND THE MASTER SERVICER
Section
8.01 Duties
of Trustee. The Trustee, prior to the occurrence of a Master
Servicer Event of Termination and after the curing or waiver of all Master
Servicer Events of Termination that may have occurred, shall undertake to
perform such duties and only such duties as are specifically set forth in this
Agreement. In case a Master Servicer Event of Termination has
occurred and remains uncured or unwaived, the Trustee shall exercise such of
the
rights and powers vested in it by this Agreement, and use the same degree of
care and skill in their exercise as a prudent person would exercise or use
under
the circumstances in the conduct of such person’s own affairs, but only until
such time as a successor Master Servicer shall have been appointed
hereunder.
The
Trustee, upon receipt of all
resolutions, certificates, statements, opinions, reports, documents, orders
or
other instruments furnished
to the Trustee that are specifically required to be furnished pursuant to any
provision of this Agreement shall examine them to determine whether they are
in
the form required by this Agreement to the extent that forms of such
documents have been provided to the Trustee; provided, however,
that the Trustee shall not be responsible for the accuracy or content of any
such resolution, certificate, statement, opinion, report, document, order or
other instrument. If any such instrument is found not to conform in
any material respect to the requirements of this Agreement, the Trustee shall
notify the Certificateholders of such non conforming instrument in the event
the
Trustee, after so requesting, does not receive a satisfactorily corrected
instrument.
No
provision of this Agreement shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act or
its
own willful misconduct; provided, however, that:
(i) unless
a
Master Servicer Event of Termination
of which a Responsible Officer of the Trustee has actual knowledge shall
have occurred, and be continuing, the duties and obligations of the Trustee
shall be determined solely by the express provisions of this Agreement, the
Trustee shall not be liable except for the performance of such duties and
obligations as are specifically set forth in this Agreement, no implied
covenants or obligations shall be read into this Agreement against the Trustee
and the Trustee may conclusively rely, as to the truth of the statements and
the
correctness of the opinions expressed therein, upon any certificates or opinions
furnished to the Trustee and conforming to the requirements of this Agreement
which it believed in good faith to be genuine and to have been duly executed
by
the proper authorities respecting any matters arising hereunder;
(ii) the
Trustee shall not be liable for an error
of judgment
made in good faith by a Responsible Officer or Responsible Officers of the
Trustee, unless it shall be conclusively determined by a court of competent
jurisdiction, such determination no longer subject to appeal, that the Trustee
was negligent in ascertaining the
pertinent facts;
(iii) the
Trustee shall not be liable with respect to any action taken, suffered or
omitted to be taken by it in good faith in accordance with the direction of
Holders of Certificates evidencing not less than 25% of the Voting Rights of
Certificates relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising or omitting to exercise
any trust or power conferred upon the Trustee under this Agreement;
and
(iv) the
Trustee shall not be accountable, shall have no liability and makes no
representation as to any acts or omissions hereunder of the Master Servicer
until such time as the Trustee may be required to act as Master Servicer
pursuant to Section 7.02 and thereupon only for the acts or omissions of
the Trustee as successor Master Servicer; and
(v) the
Trustee shall promptly remit to the Master Servicer any complaint, claim,
demand, notice or other document (collectively, the “Notices”) delivered
to the Trustee as a consequence of the assignment of any Mortgage Loan hereunder
and relating to the servicing of the Mortgage Loans; provided that any
such Notice (i) is delivered to the Trustee at its Corporate Trust Office;
and (ii) contains information sufficient to permit the Trustee to make a
determination that the real property to which such document related is a
Mortgaged Property. The Trustee shall have no duty hereunder with
respect to any Notice it may receive or which may be alleged to have been
delivered to or served upon it unless such Notice is delivered to it or served
upon it at its Corporate Trust Office and such Notice contains the information
required pursuant to clause (ii) of the preceding sentence.
Section
8.02 Certain
Matters Affecting the Trustee. Except as otherwise provided in
Section 8.01:
(i) the
Trustee may request and conclusively rely upon and shall be fully protected
in
acting or refraining from acting upon any resolution, Officer’s Certificate,
certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond or other
paper
or document believed by it to be genuine and to have been signed or presented
by
the proper party or parties and the Trustee shall have no responsibility to
ascertain or confirm the genuineness of any signature of any such party or
parties;
(ii) the
Trustee may consult with counsel, financial advisers or accountants and the
advice of any such counsel, financial advisers or accountants and any advice
or
Opinion of Counsel shall be full and complete authorization and protection
in
respect of any action taken or suffered or omitted by it hereunder in good
faith
and in accordance with such advice or Opinion of Counsel;
(iii) the
Trustee shall not be liable for any action taken, suffered or omitted by it
in
good faith and believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Agreement;
(iv) prior
to
the occurrence of a Master Servicer Event of Termination and after the curing
or
waiver of all Master Servicer Events of Termination which may have occurred,
the
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond or other paper or document,
unless requested in writing so to do by Holders of Certificates evidencing
not
less than 25% of the Voting Rights allocated to each Class of Certificates;
provided, however, that, if the payment within a reasonable time
to the Trustee of the costs, expenses or liabilities likely to be incurred
by it
in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security afforded to it by the terms
of
this Agreement, the Trustee may require reasonable indemnity against such
expense or liability as a condition to so proceeding. The reasonable
expense of every such examination shall be paid by the Master Servicer or,
if
paid by the Trustee, shall be reimbursed by the Master Servicer upon
demand. Nothing in this clause (iv) shall derogate from the
obligation of the Master Servicer to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors;
(v) the
Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys or a custodian
(including, without limitation, the Custodian) and
the Trustee shall not be responsible
for any misconduct or negligence on the part of any such agent, attorney or
custodian appointed by the Trustee with due care or on the part of the
Custodian;
(vi) the
Trustee shall not be required to risk or expend its own funds or otherwise
incur
any financial liability in the performance of any of its duties or in the
exercise of any of its rights or powers hereunder if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not assured to it, and none of the provisions
contained in this Agreement shall in any event require the Trustee to perform,
or be responsible for the manner of performance of, any of the obligations
of
the Master Servicer under this Agreement, except during such time, if any,
as
the Trustee shall be the successor to, and be vested with the rights, duties,
powers and privileges of, the Master Servicer in accordance with the terms
of
this Agreement;
(vii) the
Trustee shall not be liable for any loss on any investment of funds pursuant
to
this Agreement (other than as issuer of the investment security);
(viii) the
Trustee shall not be deemed to have knowledge of a Master Servicer Event of
Termination until a Responsible Officer of the Trustee obtains actual knowledge
of such failure or the Trustee receives written notice of such failure from
the
Master Servicer or the holders of Certificates evidencing not less than 25%
of
the Voting Rights of Certificates. In the absence of such receipt of
such notice, the Trustee may conclusively assume that there is no Master
Servicer Event of Termination; and
(ix) the
Trustee shall be under no obligation to exercise any of the trusts, rights
or
powers vested in it by this Agreement or to institute, conduct or defend any
litigation hereunder or in relation hereto at the request, order or direction
of
any of the Certificateholders, pursuant to the provisions of this Agreement,
unless such Certificateholders shall have offered to the Trustee reasonable
security or indemnity satisfactory to the Trustee against the costs, expenses
and liabilities which may be incurred therein or thereby.
The
Trustee shall have no duty (A) to see to any recording, filing, or
depositing of this Agreement or any agreement referred to herein or any
financing statement or continuation statement evidencing a security interest,
or
to see to the maintenance of any such recording or filing or depositing or
to
any rerecording, refiling or redepositing thereof, (B) to see to the
provision of any insurance or (C) to see to the payment or discharge of any
tax, assessment, or other governmental charge or any lien or encumbrance of
any
kind owing with respect to, assessed or levied against, any part of the Trust
Fund other than from funds available in the Distribution Account.
Section
8.03 Trustee
Not Liable for Certificates or Mortgage Loans. The recitals
contained herein and in the Certificates shall be taken as the statements of
the
Depositor or the Transferor, as the case may be, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Agreement or of the
Certificates or of any Mortgage Loan or related document. The Trustee
shall not be accountable for the use or application by the Depositor or the
Master Servicer of any funds paid to the Depositor or the Master Servicer in
respect of the Mortgage Loans or deposited in or withdrawn from the Collection
Account or the Distribution Account by the Depositor, the Master Servicer or
the
Trust Administrator.
Section
8.04 Trustee
May Own Certificates. The Trustee in its individual or any other
capacity may become the owner or pledgee of Certificates and may transact
business with the parties hereto and their Affiliates with the same rights
as it
would have if it were not the Trustee.
Section
8.05 Trustee’s
Fees and Expenses. The Trustee shall be compensated by the Master
Servicer as separately agreed with the Master Servicer. The Trustee
and any director, officer, employee, agent or “control person” within the
meaning of the Securities Act of 1933, as amended, and the Securities Exchange
of 1934, as amended (“Control Person”), of the Trustee shall be
indemnified by the Trust and held harmless against any loss, liability or
expense (including reasonable attorney’s fees) (i) incurred in connection
with any claim or legal action relating to (a) this Agreement (b) the
Mortgage Loans or (c) the Certificates, other than any loss, liability or
expense incurred by reason of willful misfeasance, bad faith or negligence
in
the performance of any of the Trustee’s duties hereunder, (ii) incurred in
connection with the performance of any of the Trustee’s duties or the exercise
of (or failure to exercise) its rights hereunder, other than any loss, liability
or expense incurred by reason of willful misfeasance, bad faith or negligence
in
the performance of any of the Trustee’s duties hereunder, (iii) incurred by
reason of any action of the Trustee taken at the direction of the
Certificateholders, or (iv) resulting from any error in any tax or
information return prepared by the Master Servicer, provided, that any
such loss, liability or expense constitutes an “unanticipated expense incurred
by the REMIC” within the meaning of Treasury Regulations
Section 1.860G-1(b)(3)(ii). Such indemnity shall survive the
termination of this Agreement or the resignation or removal of the Trustee
hereunder. Without limiting the foregoing, and except for any such
expense, disbursement or advance as may arise from the Trustee’s negligence, bad
faith or willful misconduct, or which would not be an “unanticipated expense”
within the meaning of the second preceding sentence, the Trustee shall be
reimbursed by the Trust for all reasonable expenses, disbursements and advances
incurred or made by the Trustee in accordance with any of the provisions of
this
Agreement with respect to: (A) the reasonable compensation and
the expenses and disbursements of its counsel not associated with the closing
of
the issuance of the Certificates, (B) the reasonable compensation, expenses
and disbursements of any accountant, engineer, appraiser or other agent that
is
not regularly employed by the Trustee, to the extent that the Trustee must
engage such Persons to perform acts or services hereunder and (C) printing
and engraving expenses in connection with preparing any Definitive
Certificates. The Trust shall fulfill its obligations under this
paragraph from amounts on deposit from time to time in the Distribution
Account.
Section
8.06 Eligibility
Requirements for Trustee. The Trustee hereunder shall at all
times be a corporation or association organized and doing business under the
laws of the United States of America or any state thereof, authorized under
such
laws to exercise corporate trust powers, having a combined capital and surplus
of at least $50,000,000, subject to supervision or examination by federal or
state authority and with a credit rating of at least investment
grade. If such corporation or association publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section 8.06 the combined capital and surplus of such corporation or
association shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. In case at any
time the Trustee shall cease to be eligible in accordance with the provisions
of
this Section 8.06, the Trustee shall resign immediately in the manner and
with the effect specified in Section 8.07 hereof. The entity
serving as Trustee may have normal banking and trust relationships with the
Depositor and its affiliates or the Master Servicer and its affiliates;
provided, however, that such entity cannot be an affiliate of the
Master Servicer other than the Trustee in its role as successor to the Master
Servicer.
Section
8.07 Resignation
and Removal of Trustee. The Trustee may at any time resign and be
discharged from the trusts hereby created by giving written notice of
resignation to the Depositor and the Master Servicer and each Rating Agency
not
less than 60 days before the date specified in such notice when, subject to
Section 8.08, such resignation is to take effect, and acceptance by a
successor trustee in accordance with Section 8.08 meeting the
qualifications set forth in Section 8.06. If no successor
trustee meeting such qualifications shall have been so appointed by the
Depositor and have accepted appointment within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor trustee.
If
at any
time the Trustee shall cease to be eligible in accordance with the provisions
of
Section 8.06 hereof and shall fail to resign after written request thereto
by the Depositor, or if at any time the Trustee shall become incapable of
acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the
Trustee or of its property shall be appointed, or any public officer shall
take
charge or control of the Trustee or of its property or affairs for the purpose
of rehabilitation, conservation or liquidation, or a tax is imposed with respect
to the Trust Fund by any state in which the Trustee or the Trust Fund is located
and the imposition of such tax would be avoided by the appointment of a
different trustee, then the Depositor or the Master Servicer may remove the
Trustee and appoint a successor trustee by written instrument, in triplicate,
one copy of which instrument shall be delivered to the Trustee so removed,
one
copy of which shall be delivered to the Master Servicer and one copy to the
successor trustee.
The
Holders of Certificates entitled to at least 51% of the Voting Rights may at
any
time remove the Trustee and appoint a successor trustee by written instrument
or
instruments, in triplicate, signed by such Holders or their attorneys in fact
duly authorized, one complete set of which instruments shall be delivered by
the
successor Trustee to the Master Servicer, one complete set to the Trustee so
removed and one complete set to the successor so appointed. Notice of
any removal of the Trustee shall be given to each Rating Agency by the successor
trustee. Any resignation or removal of the Trustee and appointment of
a successor trustee pursuant to any of the provisions of this Section 8.07
shall become effective upon acceptance by the successor trustee of appointment
as provided in Section 8.08 hereof.
Section
8.08 Successor
Trustee. Any successor trustee appointed as provided in
Section 8.07 hereof shall execute, acknowledge and deliver to the Depositor
and to its predecessor trustee and the Master Servicer an instrument accepting
such appointment hereunder and thereupon the resignation or removal of the
predecessor trustee shall become effective and such successor trustee, without
any further act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor hereunder, with the
like effect as if originally named as trustee herein. The Depositor,
the Master Servicer and the predecessor trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for more
fully and certainly vesting and confirming in the successor trustee all such
rights, powers, duties, and obligations.
No
successor trustee shall accept appointment as provided in this Section 8.08
unless at the time of such acceptance such successor trustee shall be eligible
under the provisions of Section 8.06 hereof and its appointment shall not
adversely affect the then current rating of the Certificates, as confirmed
in
writing by each Rating Agency.
Upon
acceptance by a successor trustee of appointment as provided in this
Section 8.08, the Depositor shall mail notice of the succession of such
trustee hereunder to all Holders of Certificates. If the Depositor
fails to mail such notice within 10 days after acceptance by the successor
trustee of appointment, the successor trustee shall cause such notice to be
mailed at the expense of the Depositor.
Section
8.09 Merger
or Consolidation of Trustee. Any corporation or other entity into
which the Trustee may be merged or converted or with which it may be
consolidated or any corporation or other entity resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any
corporation or other entity succeeding to the business of the Trustee, shall
be
the successor of the Trustee hereunder, provided that such corporation or
other entity shall be eligible under the provisions of Section 8.06 hereof,
without the execution or filing of any paper or further act on the part of
any
of the parties hereto, anything herein to the contrary
notwithstanding.
Section
8.10 Appointment
of Co-Trustee or Separate Trustee. Notwithstanding any other
provisions of this Agreement, at any time, for the purpose of meeting any legal
requirements of any jurisdiction in which any part of the Trust Fund or property
securing any Mortgage Note may at the time be located, the Master Servicer
and
the Trustee acting jointly shall have the power and shall execute and deliver
all instruments to appoint one or more Persons approved by the Trustee to act
as
co-trustee or co-trustees jointly with the Trustee, or separate trustee or
separate trustees, of all or any part of the Trust Fund, and to vest in such
Person or Persons, in such capacity and for the benefit of the
Certificateholders, such title to the Trust Fund or any part thereof, whichever
is applicable, and, subject to the other provisions of this Section 8.10,
such powers, duties, obligations, rights and trusts as the Master Servicer
and
the Trustee may consider necessary or desirable. If the Master
Servicer shall not have joined in such appointment within 15 days after the
receipt by it of a request to do so, or in the case where a Master Servicer
Event of Termination shall have occurred and be continuing, the Trustee alone
shall have the power to make such appointment. No co-trustee or
separate trustee hereunder shall be required to meet the terms of eligibility
as
a successor trustee under Section 8.06 and no notice to Certificateholders
of the appointment of any co-trustee or separate trustee shall be required
under
Section 8.08.
Every
separate trustee and co-trustee shall, to the extent permitted by law, be
appointed and act subject to the following provisions and
conditions:
(i) To
the
extent necessary to effectuate the purposes of this Section 8.10, all
rights, powers, duties and obligations conferred or imposed upon the Trustee,
except for the obligation of the Trustee (as successor master servicer) under
this Agreement to advance funds on behalf of the Master Servicer, shall be
conferred or imposed upon and exercised or performed by the Trustee and such
separate trustee or co-trustee jointly (it being understood that such separate
trustee or co-trustee is not authorized to act separately without the Trustee
joining in such act), except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be performed (whether
as
Trustee hereunder or as successor to the Master Servicer hereunder), the Trustee
shall be incompetent or unqualified to perform such act or acts, in which event
such rights, powers, duties and obligations (including the holding of title
to
the applicable Trust Fund or any portion thereof in any such jurisdiction)
shall
be exercised and performed singly by such separate trustee or co-trustee, but
solely at the direction of the Trustee;
(ii) No
trustee hereunder shall be held liable by reason of any act or omission of
any
other trustee hereunder and such appointment shall not, and shall not be deemed
to, constitute any such separate trustee or co-trustee as agent of the Trustee;
and
(iii) The
Trustee may at any time accept the resignation of or remove any separate trustee
or co-trustee.
Any
notice, request or other writing given to the Trustee shall be deemed to have
been given to each of the separate trustees and co-trustees, when and as
effectively as if given to each of them. Every instrument appointing
any separate trustee or co-trustee shall refer to this Agreement and the
conditions of this Article VIII. Each separate trustee and
co-trustee, upon its acceptance of the trusts conferred, shall be vested with
the estates or property specified in its instrument of appointment, either
jointly with the Trustee or separately, as may be provided therein, subject
to
all the provisions of this Agreement, specifically including every provision
of
this Agreement relating to the conduct of, affecting the liability of, or
affording protection to, the Trustee. Every such instrument shall be
filed with the Trustee and a copy thereof given to the Master Servicer and
the
Depositor.
Any
separate trustee or co-trustee may, at any time, constitute the Trustee its
agent or attorney in fact, with full power and authority, to the extent not
prohibited by law, to do any lawful act under or in respect of this Agreement
on
its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the
Trustee, to the extent permitted by law, without the appointment of a new or
successor trustee.
Section
8.11 Tax
Matters. It is intended that the assets with respect to which
each REMIC election is to be made, as set forth in the Preliminary Statement,
shall constitute, and that the conduct of matters relating to such assets shall
be such as to qualify such assets as, a “real estate mortgage investment
conduit” as defined in and in accordance with the REMIC
Provisions. In furtherance of such intention, the Master Servicer
covenants and agrees that it shall act as agent (and the Master Servicer is
hereby appointed to act as agent) on behalf of each REMIC and that in such
capacity it shall:
(a) prepare,
submit to the Trustee for execution, and file, or cause to be prepared and
filed, in a timely manner, a U.S. Real Estate Mortgage Investment Conduit
(REMIC) Income Tax Return (Form 1066 or any successor form adopted by the
Internal Revenue Service) and prepare and file or cause to be prepared and
filed
with the Internal Revenue Service and applicable state or local tax authorities
income tax or information returns for each taxable year with respect to such
REMIC, containing such information and at the times and in the manner as may
be
required by the Code or state or local tax laws, regulations, or rules, and
furnish or cause to be furnished to Certificateholders the schedules, statements
or information at such times and in such manner as may be required thereby,
including without limitation, the calculation of any original issue discount
using the prepayment assumption identified in the Prospectus
Supplement;
(b) apply
for
an Employee Identification Number from the Internal Revenue Service via
Form SS-4 or other acceptable method for such REMIC and within
thirty days of the Closing Date, furnish or cause to be furnished to the
Internal Revenue Service, on Form 8811 or as otherwise may be required by
the Code, the name, title, address, and telephone number of the person that
the
holders of the Certificates may contact for tax information relating thereto,
together with such additional information as may be required by such Form,
and
update such information at the time or times in the manner required by the
Code;
(c) make
or
cause to be made elections that such assets be treated as a REMIC on the federal
tax return for its first taxable year (and, if necessary, under applicable
state
law);
(d) provide
information necessary for the computation of tax imposed on the transfer of
a
Residual Certificate to a Person that is not a Permitted Transferee described
in
clauses (i)-(iv) of the definition thereof, or an agent (including a
broker, nominee or other middleman) of a non Permitted Transferee (the
reasonable cost of computing and furnishing such information may be charged
to
the Person liable for such tax);
(e) to
the
extent that they are under its control, conduct matters relating to such assets
at all times that any Certificates are outstanding so as to maintain the status
as a REMIC under the REMIC Provisions;
(f) not
knowingly or intentionally take any action or omit to take any action that
would
cause the termination of the REMIC status;
(g) not
permit the creation of any interests in such REMIC other than the
Certificates;
(h) not
receive any amount representing a fee or other compensation for services (except
as otherwise permitted by this Agreement);
(i) receive
any income attributable to any asset which is neither a “qualified mortgage” nor
a “permitted investment” within the meaning of the REMIC
Provisions;
(j) not
receive any contributions to such REMIC after the Startup Day that would be
subject to tax under Section 860G(d) of the Code;
(k) not
dispose of any assets of such REMIC at a gain if such disposition would be
a
“prohibited transaction” within the meaning of Section 860F(a)(2) of
the Code;
(l) pay,
from
the sources specified in the last paragraph of this Section 8.11, the
amount of any federal or state tax, including prohibited transaction taxes
as
described below, imposed on such REMIC prior to its termination when and as
the
same shall be due and payable (but such obligation shall not prevent the Master
Servicer or any other appropriate Person from contesting any such tax in
appropriate proceedings and shall not prevent the Master Servicer from causing
the withholding of payment of such tax, if permitted by law, pending the outcome
of such proceedings);
(m) ensure
that federal, state or local income tax or information returns shall be signed
by the Trustee or such other Person as may be required to sign such returns
by
the Code or state or local laws, regulations or rules; and
(n) maintain
records relating to such REMIC, including but not limited to the income,
expenses, assets and liabilities thereof and the adjusted basis of the assets
determined at such intervals as may be required by the Code, as may be necessary
to prepare the foregoing returns, schedules, statements or
information.
The
Holder of the Class AR Certificate at any time holding the largest Percentage
Interest thereof shall be the “tax matters person” as defined in the REMIC
Provisions (the related “Tax Matters Person”) with respect to REMIC I and REMIC
II and shall act as Tax Matters Person for each such REMIC. The
Master Servicer, as agent for the Tax Matters Person, shall perform on behalf
of
each REMIC all reporting and other tax compliance duties that are the
responsibility of such REMIC under the Code, the REMIC Provisions, or other
compliance guidance issued by the Internal Revenue Service or any state or
local
taxing authority. Among its other duties, if required by the Code, the REMIC
Provisions, or other such guidance, the Master Servicer, as agent for the Tax
Matters Person, shall provide (i) to the Treasury or other governmental
authority such information as is necessary for the application of any tax
relating to the transfer of a Residual Certificate to any disqualified person
or
organization and (ii) to the Certificateholders such information or reports
as
are required by the Code or REMIC Provisions. The Master Servicer, as
agent for the Tax Matters Person, shall represent each REMIC in any
administrative or judicial proceedings relating to an examination or audit
by
any governmental taxing authority, request an administrative adjustment as
to
any taxable year of any REMIC, enter into settlement agreements with any
government taxing agency, extend any statute of limitations relating to any
item
of any REMIC and otherwise act on behalf of any REMIC in relation to any tax
matter involving the Trust.
In
order
to enable the Master Servicer to perform its duties as set forth herein, the
Depositor shall provide, or cause to be provided, to the Master Servicer within
ten (10) days after the Closing Date all information or data that the
Master Servicer requests in writing and determines to be relevant for tax
purposes to the valuations and offering prices of the Certificates, including,
without limitation, the price, yield, prepayment assumption and projected cash
flows of the Certificates and the Mortgage Loans. Thereafter, the
Depositor shall provide to the Master Servicer promptly upon written request
therefor, any such additional information or data that the Master Servicer
may,
from time to time, reasonably request in order to enable the Master Servicer
to
perform its duties as set forth herein. The Depositor hereby
indemnifies the Master Servicer for any losses, liabilities, damages, claims
or
expenses of the Master Servicer arising from any errors or miscalculations
of
the Master Servicer that result from any failure of the Depositor to provide,
or
to cause to be provided, accurate information or data to the Master Servicer
on
a timely basis.
In
the
event that any tax is imposed on “prohibited transactions” of any REMIC as
defined in Section 860F(a)(2) of the Code, on the “net income from
foreclosure property” of such REMIC as defined in Section 860G(c) of the
Code, on any contribution to such REMIC after the Startup Day pursuant to
Section 860G(d) of the Code, or any other tax is imposed, if not paid as
otherwise provided for herein, such tax shall be paid by (i) the Master
Servicer, the Trustee or the Trust Administrator, respectively, if any such
other tax arises out of or results from a breach by the Master Servicer, the
Trustee or the Trust Administrator, respectively, of any of its obligations
under this Agreement, (ii) the Transferor, if any such tax arises out of or
results from the Transferor’s obligation to repurchase a Mortgage Loan pursuant
to Section 2.02 or 2.03 or (iii) in all other cases, or in the event
that the Trustee, the Trust Administrator, the Master Servicer or the Transferor
fails to honor its obligations under the preceding clause (i), (ii) or
(iii), any such tax will be paid with amounts otherwise to be distributed to
the
Certificateholders, as provided in Section 3.10(b).
Section
8.12 Periodic
Filing. The Master Servicer shall reasonably cooperate with the
Depositor to enable the Trust to satisfy its reporting requirements under the
Exchange Act.
(a) (i) Within
15 days after each Distribution Date (subject to permitted extensions under
the
Exchange Act), the Trust Administrator shall prepare and file on behalf of
the
Issuing Entity any Form 10-D required by the Exchange Act, in form and substance
as required by the Exchange Act. The Trust Administrator shall file
each Form 10-D with a copy of the related Distribution Date Statement attached
thereto. Any disclosure in addition to the Distribution Date
Statement that is required to be included on Form 10-D (“Additional Form 10-D
Disclosure”) shall be reported by the parties set forth on Exhibit T hereto
to the Depositor and the Trust Administrator and be directed and approved by
and
at the direction of the Depositor pursuant to the following paragraph, and
the
Trust Administrator will have no duty or liability for any failure hereunder
to
determine or prepare any Additional Form 10-D Disclosure, except to the extent
of its obligations set forth in the next paragraph.
(ii) For
so
long as the Trust is subject to the Exchange Act reporting requirements, within
5 calendar days after the related Distribution Date, (i) certain parties
set forth on Exhibit T shall be required to provide to the Trust Administrator
and the Depositor, to the extent known by a responsible officer thereof, in
XXXXX-compatible format, or in such other format as agreed upon by the Trust
Administrator and such party, the form and substance of any Additional Form
10-D
Disclosure, if applicable, together with an Additional Disclosure Notification
and (ii) the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Additional Form 10-D
Disclosure on Form 10-X. Xxxxx Fargo, in its capacity as the Trust
Administrator only, has no duty under this Agreement to monitor or
enforce the performance by the parties listed on Exhibit T of their duties
under
this paragraph or proactively solicit or procure from such parties any
Additional Form 10-D Disclosure information. The Depositor will be responsible
for any reasonable fees and expenses assessed or incurred by the Trust
Administrator in connection with including any Additional Form 10-D Disclosure
on Form 10-D pursuant to this paragraph.
(iii) After
preparing the Form 10-D, the Trust Administrator shall use reasonable best
efforts to forward electronically a copy of the Form 10-D to the Depositor
and
the Master Servicer for review no later than 10 calendar days after the related
Distribution Date; provided, the Trust Administrator shall only be required
to
forward such Form 10-D to the Depositor, where such Form 10-D contains
Additional Form 10-D Disclosure. No later than the 12th calendar
day after
the Distribution Date, the Depositor shall notify the Trust Administrator in
writing (which may be furnished electronically) of any changes to or approval
of
such Form 10-D. In the absence of receipt of any written changes or
approval, the Trust Administrator shall be entitled to assume that such Form
10-D is in final form and the Trust Administrator may proceed with the process
for execution and filing of the Form 10-D. A duly authorized representative
of
the Master Servicer shall sign each Form 10-D. If a Form 10-D cannot
be filed on time or if a previously filed Form 10-D needs to be amended, the
Trust Administrator will follow the procedures set forth in Section
8.12(d)(ii). Promptly (but no later than one Business Day) after
filing with the Commission, the Trust Administrator will make available on
its
internet website a final executed copy of each Form 10-D filed by the Trust
Administrator. Each party to this Agreement acknowledges that the
performance by the Trust Administrator of its duties under this Section 8.12
related to the timely preparation, execution and filing of Form 10-D is
contingent upon such parties strictly observing all applicable deadlines in
the
performance of their duties under this Section 8.12. The Depositor
acknowledges that the timely performance by the Master Servicer and the Trust
Administrator of its duties under this Section 8.12(a) related to the timely
preparation, execution and filing of Form 10-D is also contingent upon the
Servicers, the Custodian and any Servicing Function Participant strictly
observing deadlines no later than those set forth in this paragraph that are
applicable to the parties to this Agreement in the delivery to the Trust
Administrator of any necessary Additional Form 10-D Disclosure pursuant to
the
related Servicing Agreements, the Custodial Agreement or any other applicable
agreement. Neither the Master Servicer nor the Trust Administrator shall have
any liability for any loss, expense, damage or claim arising out of or with
respect to any failure to properly prepare, execute and/or timely file such
Form
10-D, where such failure results from the Trust Administrator’s inability or
failure to obtain or receive, on a timely basis, any information from any other
party hereto or any Servicer, Custodian or Servicing Function Participant needed
to prepare, arrange for execution or file such Form 10-D, not resulting from
its
own negligence, bad faith or willful misconduct.
(iv) Form
10-D
requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has
filed all reports required to be filed by Section 13 or 15(d) of the Exchange
Act during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such
filing requirements for the past 90 days.” The Depositor shall notify the Trust
Administrator in writing, no later than the fifth calendar day after the related
Distribution Date with respect to the filing of a report on Form 10-D, if the
answer to the question should be “no.”
(b) (i) On
or before the 90th day after
the end
of each fiscal year of the Trust or such earlier date as may be required by
the
Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal
year for the Trust ends on December 31st of each year), commencing in March
2008, the Trust Administrator shall prepare and file on behalf of the Trust
a
Form 10-K, in form and substance as required by the Exchange
Act. Each such Form 10-K shall include the following items, in each
case to the extent they have been delivered to the Trust Administrator within
the applicable time frames set forth in this Agreement and each Servicing
Agreement, (A) an annual compliance statement for each Servicer, the Master
Servicer, the Trust Administrator and any Servicing Function Participant engaged
by any such party (each, together with the Custodian, a “Reporting
Servicer”) as described under Section 3.21 of this Agreement and under the
related Servicing Agreements, provided, however, that the Trust Administrator
may omit from the Form 10-K any annual compliance statement that the Trust
Administrator and the Depositor agree is not required to be filed with such
Form
10-K pursuant to Regulation AB; (B)(I) each annual Assessment of Compliance
with
Servicing Criteria for each Reporting Servicer, as described under Section
3.22(a) of this Agreement and the related Servicing Agreements, and (II) if
any
Reporting Servicer’s Assessment of Compliance with Servicing Criteria identifies
any material instance of noncompliance, disclosure identifying such instance
of
noncompliance, or if any Reporting Servicer’s Assessment of Compliance with
Servicing Criteria is not included as an exhibit to such Form 10-K, disclosure
that such report is not included and an explanation why such report is not
included, provided, however, that the Trust Administrator may omit from the
Form
10-K any Assessment of Compliance or Accountant’s Attestation described in
clause (C) below that the Trust Administrator and the Depositor agree is not
required to be filed with such Form 10-K pursuant to Regulation AB;
(C)(I) the Accountant’s Attestation for each Reporting Servicer, as
described under Section 3.22(b) of this Agreement, or the applicable section
of
any Servicing Agreement, and (II) if any Accountant’s Attestation
identifies any material instance of noncompliance, disclosure identifying such
instance of noncompliance, or if any such Accountant’s Attestation is not
included as an exhibit to such Form 10-K, disclosure that such Accountant’s
Attestation is not included and an explanation why such Accountant’s Attestation
is not included, and (D) a Xxxxxxxx-Xxxxx Certification as described in
Section 8.12(b)(iv). Any disclosure or information in addition to (A) through
(D) above that is required to be included on Form 10-K (“Additional Form 10-K
Disclosure”) shall be reported by the parties set forth on Exhibit U hereto to
the Depositor and the Trust Administrator and be directed and approved by the
Depositor pursuant to the following paragraph, and the Trust Administrator
will
have no duty or liability for any failure hereunder to determine or prepare
any
Additional Form 10-K Disclosure, except to the extent of its obligations as
set
forth in the next paragraph.
(ii) For
so
long as the Trust is subject to the Exchange Act reporting requirements, no
later than March 10 (with a 5 calendar day cure period, but in no event later
than March 15th) of each
year,
commencing in 2008, (A) certain parties set forth on Exhibit U shall be
required to provide to the Trust Administrator and to the Depositor, to the
extent known by a responsible officer thereof, in XXXXX-compatible format,
or in
such other format as agreed upon by the Trust Administrator and such party,
the
form and substance of any Additional Form 10-K Disclosure as set forth on
Exhibit U, if applicable, together with an Additional Disclosure Notification
and (B) the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Additional Form 10-K
Disclosure on Form 10-X. Xxxxx Fargo, in its capacity as the Trust
Administrator only, has no duty under this Agreement to monitor or enforce
the
performance by the parties listed on Exhibit U of their duties under this
paragraph or proactively solicit or procure from such parties any Additional
Form 10-K Disclosure information. The Depositor will be responsible for any
reasonable fees and expenses assessed or incurred by the Trust Administrator
in
connection with including any Additional Form 10-K Disclosure on Form 10-K
pursuant to this paragraph. In order to allow the parties to comply
with the requirements of this section, on or before March 1 of each year
that the Trust is subject to the Exchange Act reporting requirements, commencing
in 2008, the Depositor will provide all parties to the Pooling and Servicing
Agreement with a list of (i) each Servicer contemplated under §1108 of
Regulation AB, (ii) the Trustee, (iii) each originator contemplated by
§1110 of Regulation AB, (iv) significant obligor contemplated by §1112 of
Regulation AB, (v) enhancement or support provider contemplated under
§§1114 or 1115 or Regulation AB and (vi) any other material parties related
to the Trust contemplated by §1101(d)(1) of Regulation AB.
(iii) After
preparing the Form 10-K, the Trust Administrator shall use reasonable best
efforts to forward electronically a copy of the Form 10-K to the Depositor
no
later than March 23rd of the
related
year. The Depositor shall use reasonable best efforts to notify the
Trust Administrator in writing (which may be furnished electronically) of any
changes to or approval of such Form 10-K no later than March 25th of the
related
year. In the absence of receipt of any written changes or approval,
the Trust Administrator shall be entitled to assume that such Form 10-K is
in
final form and the Trust Administrator may proceed with the process for
execution and filing of the Form 10-K. A senior officer of the Master
Servicer in charge of the master servicing function shall sign the Form
10-K. If a Form 10-K cannot be filed on time or if a previously filed
Form 10-K needs to be amended, the Trust Administrator will follow the
procedures set forth in Section 8.12(d)(ii). Form 10-K requires the
registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all
reports required to be filed by Section 13 or 15(d) of the Exchange Act during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.” The Depositor hereby represents
to the Trust Administrator that the Depositor has filed all such required
reports during the preceding 12 months and that has been subject to such filing
requirement for the past 90 days. The Depositor shall notify the
Trust Administrator in writing, no later than March 15th with respect to the
filing of a report on Form 10-K, if the answer to either question should be
“no.” The Trust Administrator shall be entitled to rely on such
representations in preparing, executing and/or filing any such
report. Promptly (but no later than 1 Business Day) after filing with
the Commission, the Trust Administrator will make available on its internet
website a final executed copy of each Form 10-K filed by the Trust
Administrator. The parties to this Agreement acknowledge that the
performance by each of the Master Servicer and Trust Administrator of its duties
under this Section 8.12(b) related to the timely preparation, execution and
filing of Form 10-K is contingent upon such parties strictly observing all
applicable deadlines in the performance of their duties under this Section
8.12(b), Section 3.21, Section 3.22(a) and Section 3.22(b). The
Depositor acknowledges that the timely performance by the Master Servicer and
the Trust Administrator of its duties under this Section 8.12(b) related to
the
timely preparation, execution and filing of Form 10-K is also contingent upon
the Servicers, the Custodian and any Servicing Function Participant strictly
observing deadlines no later than those set forth in this paragraph that are
applicable to the parties to this Agreement in the delivery to the Trust
Administrator of any necessary Additional Form 10-K Disclosure, any annual
statement of compliance and any assessment of compliance and attestation
pursuant to the related Servicing Agreement or any other applicable agreement.
Neither the Master Servicer nor the Trust Administrator shall have any liability
for any loss, expense, damage or claim arising out of or with respect to any
failure to properly prepare, execute and/or timely file such Form 10-K, where
such failure results from the Trust Administrator’s inability or failure to
obtain or receive, on a timely basis, any information from any other party
hereto needed to prepare, arrange for execution or file such Form 10-K, not
resulting from its own negligence, bad faith or willful misconduct.
(iv) Each
Form
10-K shall include the “Xxxxxxxx-Xxxxx Certification”, exactly as set forth in
Exhibit W attached hereto, required to be included therewith pursuant to the
Xxxxxxxx-Xxxxx Act. The Depositor, the Master Servicer and the Trust
Administrator shall provide, and each such party shall cause any Servicing
Function Participant engaged by it to provide, to the Person who signs the
Xxxxxxxx-Xxxxx Certification (the “Certifying Person”), by March 10 (with a 5
calendar day cure period) of each year in which the Trust is subject to the
reporting requirements of the Exchange Act and otherwise within a reasonable
period of time upon request, a certification (each, a “Back-Up Certification”),
in the form attached hereto as Exhibit U, upon which the Certifying Person,
the
entity for which the Certifying Person acts as an officer, and such entity’s
officers, directors and Affiliates (collectively with the Certifying Person,
“Certification Parties”) can reasonably rely. The senior officer of
the Master Servicer in charge of the master servicing function shall serve
as
the Certifying Person on behalf of the Trust. Such officer of the
Certifying Person can be contacted by e-mail at xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
or by facsimile at 000-000-0000. In the event any such party or any
Servicing Function Participant engaged by the parties is terminated or resigns
pursuant to the terms of this Agreement, or any other applicable agreement,
as
the case may be, such party shall provide a Back-Up Certification to the
Certifying Person pursuant to this Section 8.12(b)(iv) with respect to the
period of time it was subject to this Agreement or any applicable sub-servicing
agreement, as the case may be.
Notwithstanding
the foregoing, (i) the Master Servicer and the Trust Administrator shall not
be
required to deliver a Back-Up Certification to each other if both are the same
Person and the Master Servicer is the Certifying Person and (ii) the Master
Servicer shall not be obligated to sign the Xxxxxxxx-Xxxxx Certification in
the
event that it does not receive any Back-Up Certification required to be
furnished to it pursuant to this section or any Servicing
Agreement.
(c) (i) Within
four (4) Business Days after the occurrence of an event requiring disclosure
on
Form 8-K (each such event, a “Reportable Event”), if requested by the Depositor,
and to the extent it receives the Form 8-K Disclosure Information described
below, the Trust Administrator shall prepare and file on behalf of the Trust
any
Form 8-K, as required by the Exchange Act, provided that the Depositor shall
file the initial Form 8-K in connection with the issuance of the
Certificates. Any disclosure or information related to a Reportable
Event or that is otherwise required to be included on Form 8-K other than the
initial Form 8-K (“Form 8-K Disclosure Information”) shall be reported by the
parties set forth on Exhibit S hereto to the Depositor and the Trust
Administrator and be directed and approved by the Depositor pursuant to the
following paragraph, and the Trust Administrator will have no duty or liability
for any failure hereunder to determine or prepare any Form 8-K Disclosure
Information or any Form 8-K, except to the extent of its obligations set forth
in the next paragraph.
(ii) For
so
long as the Trust is subject to the Exchange Act reporting requirements, no
later than the close of business (New York time) on the 2nd Business Day after
the occurrence of a Reportable Event (i) the parties specified on Exhibit V
hereto shall be required to provide to the Trust Administrator and the
Depositor, to the extent known by a responsible officer thereof, in
XXXXX-compatible format, or in such other format as agreed upon by the Trust
Administrator and such party, the form and substance of any Form 8-K Disclosure
Information, if applicable, together with an Additional Disclosure Notification
and (ii) the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Form 8-K Disclosure
Information on the Form 8-K. The Depositor will be responsible for
any reasonable fees and expenses assessed or incurred by the Trust Administrator
in connection with including any Form 8-K Disclosure Information on Form 8-K
pursuant to this paragraph.
(iii) After
preparing the Form 8-K, the Trust Administrator shall use reasonable best
efforts to forward electronically a copy of the Form 8-K to the Depositor no
later than Noon New York City time on the third Business Day after the
Reportable Event. The Depositor shall use reasonable best efforts to notify
the
Trust Administrator in writing (which may be furnished electronically) of any
changes to or approval of such Form 8-K no later than the close of business
on
the third Business Day after the Reportable Event. In the absence of
receipt of any written changes or approval, the Trust Administrator shall be
entitled to assume that such Form 8-K is in final form and the Trust
Administrator may proceed with the process for execution and filing of the
Form
8-K. A duly authorized representative of the Master Servicer shall
sign each Form 8-K. If a Form 8-K cannot be filed on time or if a
previously filed Form 8-K needs to be amended, the Trust Administrator will
follow the procedures set forth in Section 8.12(d)(ii). Promptly (but
no later than one Business Day) after filing with the Commission, the Trust
Administrator will make available on its internet website a final executed
copy
of each Form 8-K filed by it. The parties to this Agreement
acknowledge that the performance by each of the Master Servicer and the Trust
Administrator of its duties under this Section 8.12 related to the timely
preparation, execution and filing of Form 8-K is contingent upon such parties
strictly observing all applicable deadlines in the performance of their duties
under this Section 8.12. The Depositor acknowledges that the timely
performance by the Master Servicer and the Trust Administrator of its duties
under this Section 8.12(c) related to the timely preparation, execution and
filing of Form 8-K is also contingent upon the Servicers, the Custodian and
any
Servicing Function Participant strictly observing deadlines no later than those
set forth in this paragraph that are applicable to the parties to this Agreement
in the delivery to the Trust Administrator of any necessary Form 8-K Disclosure
Information pursuant to the related Servicing Agreements or any other applicable
agreement. Neither the Master Servicer nor the Trust Administrator shall have
any liability for any loss, expense, damage, claim arising out of or with
respect to any failure to properly prepare, execute and/or timely file such
Form
8-K, where such failure results from the Trust Administrator’s inability or
failure to obtain or receive, on a timely basis, any information from any other
party hereto or any Servicer, Custodian or Servicing Function Participant needed
to prepare, arrange for execution or file such Form 8-K, not resulting from
its
own negligence, bad faith or willful misconduct.
(d) (i) On
or prior to January 30 of the first year in which the Trust Administrator is
able to do so under applicable law, the Trust Administrator shall prepare and
file a Form 15 Suspension Notification relating to the automatic suspension
of
reporting in respect of the Issuing Entity under the Exchange Act.
(ii) In
the
event that the Trust Administrator is unable to timely file with the Commission
all or any required portion of any Form 8-K, Form 10-D or Form 10-K required
to
be filed by this Agreement because required disclosure information was either
not delivered to it or delivered to it after the delivery deadlines set forth
in
this Agreement or for any other reason, the Trust Administrator will promptly
notify the Depositor. In the case of Form 10-D and Form 10-K, the
parties to this Agreement will cooperate to prepare and file a Form 12b-25
and a
Form 10-D/A and Form 10-K/A as applicable, pursuant to Rule 12b-25 of the
Exchange Act. In the case of Form 8-K, the Trust Administrator will,
upon receipt of all required Form 8-K Disclosure Information and upon the
approval and direction of the Depositor, include such disclosure information
on
the next Form 10-D. In the event that any previously filed Form 8-K,
Form 10-D or Form 10-K needs to be amended in connection with any Additional
Form 10-D Disclosure (other than, in the case of Form 10-D, for the purpose
of
restating any Distribution Date Statement), Additional Form 10-K Disclosure
or
Form 8-K Disclosure Information, the Trust Administrator will electronically
notify the Depositor and such other parties to the transaction as are affected
by such amendment, and such parties will cooperate to prepare any necessary
8-K/A, Form 10-D/A or Form 10-K/A; provided, the Trust Administrator will only
be required to notify the Depositor of an amendment to any Form 10-D where
such
amendment contains Additional Form 10-D Disclosure. Any Form 15, Form
12b-25 or any amendment to Form 8-K, Form 10-D or Form 10-K shall be signed
by a
duly authorized officer (or in the case of a Form 10-K a senior officer) of
the
Master Servicer. The parties to this Agreement acknowledge that the
performance by each of the Master Servicer and Trust Administrator of its duties
under this Section 8.12(d) related to the timely preparation, execution and
filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, Form 10-D or
Form
10-K is contingent upon each such party performing its duties under this
Section. Neither the Master Servicer nor the Trust Administrator
shall have any liability for any loss, expense, damage, claim arising out of
or
with respect to any failure to properly prepare, execute and/or
timely file any such Form 15, Form 12b-25 or any amendment to Forms 8-K, Form
10-D or Form 10-K, where such failure results from the Trust Administrator’s
inability or failure to obtain or receive, on a timely basis, any information
from any other party hereto or any servicer, the Custodian, or any Servicing
Function Participant needed to prepare, arrange for execution or file such
Form
15, Form 12b-25 or any amendment to Forms 8-K, Form 10-D or Form 10-K, not
resulting from its own negligence, bad faith or willful misconduct. The Trust
Administrator and the Master Servicer and each of their respective officers,
directors, employees and agents shall not be liable for any losses, claims,
damages, expenses, judgments, penalties and/or liabilities that either of them
may sustain, in so far as such losses, claims, damages, expenses, judgments,
penalties and/or liabilities (or actions in respect of them) result from or
are
directly related to Standard not delivering any information of the type
described in Section 8.12 of this Agreement, without regard to whether Standard
has a duty to provide such information under the Standard Servicing Agreement
or
the Standard Assignment, Assumption and Recognition Agreement.
ARTICLE
IX
CONCERNING
THE TRUST ADMINISTRATOR
Section
9.01 Duties
of Trust Administrator. The Trust Administrator shall undertake
to perform such duties and only such duties as are specifically set forth in
this Agreement.
The
Trust
Administrator, upon receipt of all resolutions, certificates, statements,
opinions, reports, documents, orders or other instruments furnished to the
Trust
Administrator that are specifically required to be furnished pursuant to any
provision of this Agreement shall examine them to determine whether they are
in
the form required by this Agreement; provided, however, that the
Trust Administrator shall not be responsible for the accuracy or content of
any
such resolution, certificate, statement, opinion, report, document, order or
other instrument. If any such instrument is found not to conform in
any material respect to the requirements of this Agreement, the Trust
Administrator shall notify the Certificateholders of such non conforming
instrument in the event the Trust Administrator, after so requesting, does
not
receive a satisfactorily corrected instrument.
No
provision of this Agreement shall be construed to relieve the Trust
Administrator from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct; provided, however,
that:
(i) the
duties and obligations of the Trust Administrator shall be determined solely
by
the express provisions of this Agreement, the Trust Administrator shall not
be
liable except for the performance of such duties and obligations as are
specifically set forth in this Agreement, no implied covenants or obligations
shall be read into this Agreement against the Trust Administrator and the Trust
Administrator may conclusively rely, as to the truth of the statements and
the
correctness of the opinions expressed therein, upon any certificates or opinions
furnished to the Trust Administrator and conforming to the requirements of
this
Agreement which it believed in good faith to be genuine and to have been duly
executed by the proper authorities respecting any matters arising
hereunder;
(ii) the
Trust
Administrator shall not be liable for an error of judgment made in good faith
by
a Responsible Officer or Responsible Officers of the Trust Administrator, unless
it shall be conclusively determined by a court of competent jurisdiction, such
determination no longer subject to appeal, that the Trust Administrator was
negligent in ascertaining the pertinent facts;
(iii) the
Trust
Administrator shall not be liable with respect to any action taken, suffered
or
omitted to be taken by it in good faith in accordance with the direction of
Holders of Certificates evidencing not less than 25% of the Voting Rights of
Certificates relating to the time, method and place of conducting any proceeding
for any remedy available to the Trust Administrator, or exercising or omitting
to exercise any trust or power conferred upon the Trust Administrator under
this
Agreement; and
(iv) the
Trust
Administrator shall not be accountable, shall have no liability and makes no
representation as to any acts or omissions hereunder of the Master Servicer
or
the Trustee.
Section
9.02 Certain
Matters Affecting the Trust Administrator. Except as otherwise
provided in Section 9.01:
(i) the
Trust
Administrator may request and conclusively rely upon and shall be fully
protected in acting or refraining from acting upon any resolution, Officer’s
Certificate, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal, bond
or
other paper or document believed by it to be genuine and to have been signed
or
presented by the proper party or parties and the Trust Administrator shall
have
no responsibility to ascertain or confirm the genuineness of any signature
of
any such party or parties;
(ii) the
Trust
Administrator may consult with counsel, financial advisers or accountants and
the advice of any such counsel, financial advisers or accountants and any advice
or Opinion of Counsel shall be full and complete authorization and protection
in
respect of any action taken or suffered or omitted by it hereunder in good
faith
and in accordance with such advice or Opinion of Counsel;
(iii) the
Trust
Administrator shall not be liable for any action taken, suffered or omitted
by
it in good faith and believed by it to be authorized or within the discretion
or
rights or powers conferred upon it by this Agreement;
(iv) the
Trust
Administrator shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, approval, bond or other paper or
document, unless requested in writing so to do by Holders of Certificates
evidencing not less than 25% of the Voting Rights allocated to each Class of
Certificates; provided, however, that if the payment within a
reasonable time to the Trust Administrator of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is, in the
opinion of the Trust Administrator, not reasonably assured to the Trust
Administrator by the security afforded to it by the terms of this Agreement,
the
Trust Administrator may require reasonable indemnity against such expense or
liability as a condition to so proceeding. Nothing in this
clause (iv) shall derogate from the obligation of the Master Servicer to
observe any applicable law prohibiting disclosure of information regarding
the
Mortgagors;
(v) the
Trust
Administrator may execute any of the trusts or powers hereunder or perform
any
duties hereunder either directly or by or through agents or attorneys or a
custodian and the Trust Administrator shall not be responsible for any
misconduct or negligence on the part of any such agent, attorney or custodian
appointed by the Trust Administrator with due care;
(vi) the
Trust
Administrator shall not be required to risk or expend its own funds or otherwise
incur any financial liability in the performance of any of its duties or in
the
exercise of any of its rights or powers hereunder if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not assured to it, and none of the provisions
contained in this Agreement shall in any event require the Trust Administrator
to perform, or be responsible for the manner of performance of, any of the
obligations of the Master Servicer under this Agreement, except during such
time, if any, as the Trust Administrator shall be the successor to, and be
vested with the rights, duties, powers and privileges of, the Master Servicer
in
accordance with the terms of this Agreement;
(vii) [reserved];
(viii) [reserved];
(ix) the
Trust
Administrator shall be under no obligation to exercise any of the trusts, rights
or powers vested in it by this Agreement or to institute, conduct or defend
any
litigation hereunder or in relation hereto at the request, order or direction
of
any of the Certificateholders, pursuant to the provisions of this Agreement,
unless such Certificateholders shall have offered to the Trust Administrator
reasonable security or indemnity satisfactory to the Trust Administrator against
the costs, expenses and liabilities which may be incurred therein or thereby;
and
(x) the
Trust
Administrator shall have no obligation to appear in, prosecute or defend any
legal action that is not incidental to its duties hereunder and which in its
opinion may involve it in any expense or liability; provided,
however, that the Trust Administrator may in its discretion undertake
any
such action that it may deem necessary or desirable in respect of this Agreement
and the rights and duties of the parties hereto and the interests of the
Trustee, the Trust Administrator and the Certificateholders
hereunder. In such event, the legal expenses and costs of such action
and any liability resulting therefrom shall be expenses, costs and liabilities
of the Trust Fund, and the Trust Administrator shall be entitled to be
reimbursed therefor out of the Collection Account.
The
Trust
Administrator shall have no duty (A) to see to any recording, filing, or
depositing of this Agreement or any agreement referred to herein or any
financing statement or continuation statement evidencing a security interest,
or
to see to the maintenance of any such recording or filing or depositing or
to
any rerecording, refiling or redepositing thereof, (B) to see to the
provision of any insurance or (C) to see to the payment or discharge of any
tax, assessment, or other governmental charge or any lien or encumbrance of
any
kind owing with respect to, assessed or levied against, any part of the Trust
Fund other than from funds available in the Distribution Account.
Section
9.03 Trust
Administrator Not Liable for Certificates or Mortgage Loans. The
recitals contained herein and in the Certificates shall be taken as the
statements of the Depositor or the Transferor, as the case may be, and the
Trust
Administrator assumes no responsibility for their correctness. The
Trust Administrator makes no representations as to the validity or sufficiency
of this Agreement or of the Certificates or of any Mortgage Loan or related
document other than with respect to the Trust Administrator’s execution and
authentication of the Certificates. The Trust Administrator shall not
be accountable for the use or application by the Depositor or the Master
Servicer of any funds paid to the Depositor or the Master Servicer in respect
of
the Mortgage Loans or deposited in or withdrawn from the Collection Account
by
the Depositor or the Master Servicer.
Section
9.04 Trust
Administrator May Own Certificates. The Trust Administrator in
its individual or any other capacity may become the owner or pledgee of
Certificates and may transact business with the parties hereto and their
Affiliates with the same rights as it would have if it were not the Trust
Administrator.
Section
9.05 Trust
Administrator’s Fees and Expenses. As compensation for its
activities hereunder, the Trust Administrator shall be entitled to retain or
withdraw from the Distribution Account an amount equal to the Trust
Administrator Compensation. The Trust Administrator and any director,
officer, employee, agent or “control person” within the meaning of the
Securities Act of 1933, as amended, and the Securities Exchange of 1934, as
amended (“Control Person”), of the Trust Administrator shall be
indemnified by the Trust and held harmless against any loss, liability or
expense (including reasonable attorney’s fees) (i) incurred in connection
with any claim or legal action relating to (a) this Agreement, (b) the
Mortgage Loans or (c) the Certificates, other than any loss, liability or
expense incurred by reason of willful misfeasance, bad faith or negligence
in
the performance of any of the Trust Administrator’s duties hereunder,
(ii) incurred in connection with the performance of any of the Trust
Administrator’s duties or the exercise of (or failure to exercise) its rights
hereunder, other than any loss, liability or expense incurred by reason of
willful misfeasance, bad faith or negligence in the performance of any of the
Trust Administrator’s duties hereunder, or (iii) incurred by reason of any
action of the Trust Administrator taken at the direction of the
Certificateholders, provided that any such loss, liability or expense
constitutes an “unanticipated expense incurred by the REMIC” within the meaning
of Treasury Regulations Section 1.860G-1(b)(3)(ii). Such
indemnity shall survive the termination of this Agreement or the resignation
or
removal of the Trust Administrator hereunder. Without limiting the
foregoing, and except for any such expense, disbursement or advance as may
arise
from the Trust Administrator’s negligence, bad faith or willful misconduct, or
which would not be an “unanticipated expense” within the meaning of the second
preceding sentence, the Trust Administrator shall be reimbursed by the Trust
for
all reasonable expenses, disbursements and advances incurred or made by the
Trust Administrator in accordance with any of the provisions of this Agreement
with respect to: (A) the reasonable compensation and the
expenses and disbursements of its counsel not associated with the closing of
the
issuance of the Certificates, (B) the reasonable compensation, expenses and
disbursements of any accountant, engineer, appraiser or other agent that is
not
regularly employed by the Trust Administrator, to the extent that the Trust
Administrator must engage such Persons to perform acts or services hereunder
and
(C) printing and engraving expenses in connection with preparing any
Definitive Certificates. The Trust shall fulfill its obligations
under this paragraph from amounts on deposit from time to time in the
Distribution Account.
Section
9.06 Eligibility
Requirements for Trust Administrator. The Trust Administrator
hereunder shall at all times be a corporation or association organized and
doing
business under the laws the United States of America or any state thereof,
authorized under such laws to exercise corporate trust powers, having a combined
capital and surplus of at least $50,000,000, subject to supervision or
examination by federal or state authority and with a credit rating of at least
investment grade or at least “A/F1” by Fitch if Fitch is a Rating Agency, or
“BBB(low)” by DBRS if DBRS is a Rating Agency. If such corporation or
association publishes reports of condition at least annually, pursuant to law
or
to the requirements of the aforesaid supervising or examining authority, then
for the purposes of this Section 9.06 the combined capital and surplus of
such corporation or association shall be deemed to be its combined capital
and
surplus as set forth in its most recent report of condition so
published. In case at any time the Trust Administrator shall cease to
be eligible in accordance with the provisions of this Section 9.06, the
Trust Administrator shall resign immediately in the manner and with the effect
specified in Section 9.07 hereof. The entity serving as Trust
Administrator may have normal banking and trust relationships with the Depositor
and its affiliates or the Trustee and its affiliates.
Section
9.07 Resignation
and Removal of Trust Administrator. The Trust Administrator may
at any time resign by giving written notice of resignation to the Depositor
and
the Trustee and each Rating Agency not less than 60 days before the date
specified in such notice when, subject to Section 9.08, such resignation is
to take effect, and acceptance by a successor trust administrator in accordance
with Section 9.08 meeting the qualifications set forth in
Section 9.06. If no successor trust administrator meeting such
qualifications shall have been so appointed by the Depositor or the Trustee
and
have accepted appointment within 30 days after the giving of such notice of
resignation, the resigning Trust Administrator may petition any court of
competent jurisdiction for the appointment of a successor trust
administrator.
If
at any
time the Trust Administrator shall cease to be eligible in accordance with
the
provisions of Section 9.06 hereof and shall fail to resign after written
request thereto by the Depositor, or if at any time the Trust Administrator
shall become incapable of acting, or shall be adjudged as bankrupt or insolvent,
or a receiver of the Trust Administrator or of its property shall be appointed,
or any public officer shall take charge or control of the Trust Administrator
or
of its property or affairs for the purpose of rehabilitation, conservation
or
liquidation, or a tax is imposed with respect to the Trust Fund by any state
in
which the Trust Administrator or the Trust Fund is located and the imposition
of
such tax would be avoided by the appointment of a different Trust Administrator,
then the Depositor or the Trustee may remove the Trust Administrator and appoint
a successor trust administrator by written instrument, in triplicate, one copy
of which instrument shall be delivered to the Trust Administrator so removed,
one copy of which shall be delivered to the Master Servicer and one copy to
the
successor trust administrator. If the Master Servicer and the Trust
Administrator are the same Person, then at any time the Master Servicer is
terminated pursuant to Section 7.01 hereof, the Trust Administrator shall
likewise be terminated as trust administrator hereunder.
The
Trust
Administrator (i) may not be an originator of a Mortgage Loan, Master
Servicer, Servicer, the Depositor or an affiliate of the Depositor unless the
Trust Administrator is in an institutional trust department, (ii) must be
authorized to exercise corporate trust powers under the laws of its jurisdiction
or organization, and (iii) must be rated at least “A/F1” by Fitch, if Fitch
is a Rating Agency (or such rating acceptable to Fitch pursuant to a rating
confirmation), or “BBB (low)” by DBRS if DBRS is a Rating Agency, or the
equivalent rating by S&P or Xxxxx’x. If no successor trust
administrator shall have been appointed and shall have accepted appointment
within 60 days after Xxxxx Fargo Bank, N.A., as Trust Administrator, ceases
to be the trust administrator pursuant to this Section 9.07, then the
Trustee shall perform the duties of the Trust Administrator pursuant to this
Agreement. The Trustee shall notify the Rating Agencies of any change
of the Trust Administrator. In such event, the Trustee shall assume
all of the rights and obligations of the Trust Administrator hereunder arising
thereafter except that the Trustee shall not be (i) liable for losses of
the predecessor Trust Administrator or any acts or omissions of the predecessor
Trust Administrator hereunder or (ii) deemed to have made any
representations and warranties of the Trust Administrator made
herein. The Trustee shall not be accountable, shall have no liability
and makes no representation as to any acts or omissions hereunder of the Trust
Administrator until such time as the Trustee may be required to act as successor
Trust Administrator pursuant to this Section 9.07 and thereupon only for
the acts or omissions of the Trustee as successor Trust
Administrator.
The
Trustee or successor trust administrator shall be entitled to be reimbursed
from
the Master Servicer for all reasonable costs and expenses associated with the
transfer of the duties of the Trust Administrator from the predecessor Trust
Administrator, including, without limitation, any costs or expenses associated
with the complete transfer of all trust administrator data and the completion,
correction or manipulation of such trust administrator data as may be required
by the Trustee or successor trust administrator to correct any errors or
insufficiencies in such trust administrator data or otherwise to enable the
Trustee or successor trust administrator to perform the duties of the Trust
Administrator properly and effectively.
The
Trustee, as successor Trust Administrator, as compensation for its activities
hereunder, shall be entitled to retain or withdraw from the Distribution Account
an amount equal to the Trust Administrator Compensation. To the
extent such Trust Administrator Compensation is less than the current market
rate that the Trustee would charge for providing similar trust administrator
services in a similarly structured transaction, as mutually determined by the
Trustee and the successor Master Servicer at the time the Trustee becomes the
successor Trust Administrator, the successor Master Servicer, out of its own
funds, shall pay the Trustee, as successor Trust Administrator, additional
compensation in an amount equal to the difference between the Trust
Administrator Compensation and such current market rate for such trust
administrator services, as separately negotiated by the successor Master
Servicer at the time the Trustee becomes the successor Trust Administrator
and
the Trustee.
The
Holders of Certificates entitled to at least 51% of the Voting Rights may at
any
time remove the Trust Administrator and appoint a successor trust administrator
by written instrument or instruments, in triplicate, signed by such Holders
or
their attorneys in fact duly authorized, one complete set of which instruments
shall be delivered by the successor Trust Administrator to the Trustee, one
complete set to the Trust Administrator so removed and one complete set to
the
successor so appointed. Notice of any removal of the Trust
Administrator shall be given to each Rating Agency by the successor trust
administrator.
Any
resignation or removal of the Trust Administrator and appointment of a successor
trust administrator pursuant to any of the provisions of this Section 9.07
shall become effective upon acceptance by the successor trust administrator
of
appointment as provided in Section 9.08 hereof. If the Trust
Administrator and the Master Servicer are the same Person, then at any time
the
Trust Administrator is removed pursuant to this Section 9.07, the Master
Servicer shall likewise be terminated as master servicer hereunder.
Section
9.08 Successor
Trust Administrator. Any successor trust administrator appointed
as provided in Section 9.07 hereof shall execute, acknowledge and deliver
to the Depositor and to its predecessor trust administrator and the Trustee
an
instrument accepting such appointment hereunder and thereupon the resignation
or
removal of the predecessor trust administrator shall become effective and such
successor trust administrator, without any further act, deed or conveyance,
shall become fully vested with all the rights, powers, duties and obligations
of
its predecessor hereunder, with the like effect as if originally named as trust
administrator herein. The Depositor, the Trustee, the Master Servicer
and the predecessor trust administrator shall execute and deliver such
instruments and do such other things as may reasonably be required for more
fully and certainly vesting and confirming in the successor trust administrator
all such rights, powers, duties, and obligations.
No
successor trust administrator shall accept appointment as provided in this
Section 9.08 unless at the time of such acceptance such successor trust
administrator shall be eligible under the provisions of Section 9.06 hereof
and its appointment shall not adversely affect the then current rating of the
Certificates, as confirmed in writing by each Rating Agency.
Upon
acceptance by a successor trust administrator of appointment as provided in
this
Section 9.08, the Depositor shall mail notice of the succession of such
trust administrator hereunder to all Holders of Certificates. If the
Depositor fails to mail such notice within 10 days after acceptance by the
successor trust administrator of appointment, the successor trust administrator
shall cause such notice to be mailed at the expense of the
Depositor.
Section
9.09 Merger
or Consolidation of Trust Administrator. Any corporation or other
entity into which the Trust Administrator may be merged or converted or with
which it may be consolidated or any corporation or other entity resulting from
any merger, conversion or consolidation to which the Trust Administrator shall
be a party, or any corporation or other entity succeeding to the business of
the
Trust Administrator, shall be the successor of the Trust Administrator
hereunder, provided that such corporation or other entity shall be
eligible under the provisions of Section 9.06 hereof, without the execution
or filing of any paper or further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding.
Section
9.10 Grantor
Trust Administration. (a) The Trust Administrator
shall treat each Grantor Trust, for tax return preparation purposes, as a
separate grantor trust under the Code and, if necessary, under applicable state
law and will file appropriate federal or state Tax Returns for each taxable
year
ending on or after the last day of the calendar year in which the Certificates
are issued. The Class 2-A-1 Certificates, Class 2-A-2 Certificates,
Class 2-A-3 Certificates, the Class 4-A-1 Certificates, the Class 4-A-2
Certificates, the Class 4-A-3 Certificates, the Class 4-A-4 Certificates, the
Class 4-A-5 Certificates, the Class 4-A-6 Certificates and the Class 4-A-7
Certificates are hereby designated as representing an undivided interest in
the
Grantor Trust.
(b) The
Trust Administrator shall pay out of its own funds any and all routine tax
administration expenses of the Trust Fund incurred with respect to the Grantor
Trusts (but not including any professional fees or expenses related to audits
or
any administrative or judicial proceedings with respect to the Trust Fund that
involve the IRS or state tax authorities which extraordinary expenses shall
be
payable or reimbursable to the Trust Administrator from the Grantor Trust Assets
in the Trust Fund, unless otherwise provided in Section 9.10(i) or
9.10(j)).
(c) The
Trust Administrator shall prepare, submit to the Trustee for execution, and
file
all of the Tax Returns in respect of the Grantor Trust. The expenses
of preparing and filing such returns shall be borne by the Trust Administrator
without any right of reimbursement therefor.
(d) The
Grantor Trust is a WHFIT that is a WHMT. The Trust Administrator will report
as
required under the WHFIT Regulations to the extent such information as is
reasonably necessary to enable the Trust Administrator to do so is provided
to
the Trust Administrator on a timely basis. The “middlemen” as defined
by the WHFIT Regulations will be Cede & Co., the nominee of
DTC. The Trust Administrator will not be liable for any tax reporting
penalties that may arise under the WHFIT Regulations as a result of the
Depositor incorrectly determining the status of the grantor trust as a WHFIT
or
failing to identify whether or not the grantor trust is a WHFIT.
(e) The
Trust Administrator, in its discretion, will report required WHFIT information
using either the cash or accrual method, except to the extent the WHFIT
Regulations specifically require a different method. The Trust
Administrator will be under no obligation to determine whether any
Certificateholder uses the cash or accrual method. The Trust
Administrator will make available WHFIT information to Certificateholders
annually. In addition, the Trust Administrator will not be
responsible or liable for providing subsequently amended, revised or updated
information to any Certificateholder, unless requested by the
Certificateholder.
(f) The
Trust Administrator shall not be liable for failure to meet the reporting
requirements of the WHFIT Regulations or for any penalties thereunder if such
failure is due to: (i) the lack of reasonably necessary information being
provided to the Trust Administrator, (ii) incomplete, inaccurate or untimely
information being provided to the Trust Administrator or (iii) the inability
of
the Trust Administrator, after good faith efforts, to alter its existing
information reporting systems to capture information necessary to fully comply
with the WHFIT Regulations for the 2007 calendar year. Each owner of
a Class of Certificates representing, in whole or in part, beneficial ownership
of an interest in a WHFIT, by acceptance of its interest in such Class of
Certificates, will be deemed to have agreed to provide the Trust Administrator
with information regarding any sale of such Certificates, including the price,
amount of proceeds and date of sale. Absent receipt of such
information, and unless informed otherwise by the Depositor, the Trust
Administrator will assume there is no secondary market trading of WHFIT
interests.
(g) To
the extent required by the WHFIT Regulations, the Trust Administrator will
use
reasonable efforts to publish on an appropriate website the CUSIPs for the
Certificates that represent ownership.
(h) The
Trust Administrator shall perform on behalf of the Grantor Trust all reporting
and other tax compliance duties that are required in respect thereof under
the
Code, the Grantor Trust Provisions or other compliance guidance issued by the
IRS or any state or local taxing authority.
(i) The
Trust Administrator shall perform its duties hereunder so as to maintain the
status of each Grantor Trust as a grantor trust under the Grantor Trust
Provisions (and the Trustee and the Master Servicer shall assist the Trust
Administrator to the extent reasonably requested by the Trust Administrator
and
to the extent of information within the Trustee’s or the Master Servicer’s
possession or control). None of the Trust Administrator or Master
Servicer shall knowingly take (or cause any Grantor Trust to take) any action
or
fail to take (or fail to cause to be taken) any action that, under the Grantor
Trust Provisions, if taken or not taken, as the case may be, could result in
an
Adverse Grantor Trust Event, unless the Trust Administrator has obtained or
received an Opinion of Counsel (at the expense of the party requesting such
action or at the expense of the Trust Fund if the Trust Administrator seeks
to
take such action or to refrain from taking any action for the benefit of the
Certificateholders) to the effect that the contemplated action will not result
in an Adverse Grantor Trust Event. None of the other parties hereto
shall take any action or fail to take any action (whether or not authorized
hereunder) as to which the Trust Administrator has advised it in writing that
the Trust Administrator has received or obtained an Opinion of Counsel to the
effect that an Adverse Grantor Trust Event could result from such action or
failure to act. In addition, prior to taking any action with respect
to any Grantor Trust, or causing any Grantor Trust to take any action, that
is
not expressly permitted under the terms of this Agreement, the Master Servicer
shall consult with the Trust Administrator or its designee, in writing, with
respect to whether such action could cause an Adverse Grantor Trust Event to
occur. The Trust Administrator may consult with counsel to make such
written advice, and the cost of same shall be borne by the party seeking to
take
the action not permitted by this Agreement, but in no event at the cost or
expense of the Trust Fund, the Trust Administrator or the Trustee.
(j) If
any tax is imposed on any Grantor Trust, such tax, together with all incidental
costs and expenses (including penalties and reasonable attorneys’ fees), shall
be charged to and paid by: (i) the Trust Administrator, if such tax
arises out of or results from a breach by the Trust Administrator of any of
its
obligations under Article IV, Article IX or this Section 9.10; (ii) the Master
Servicer, if such tax arises out of or results from a breach by the Master
Servicer of any of its obligations under Article III or this Section 9.10;
or
(iii) the portion of the Trust Fund constituting the Grantor Trust Assets in
all
other instances.
(k) Notwithstanding
the foregoing provisions of this Section 9.10, the applicability of this Section
9.10 is subject to Section 2.03.
ARTICLE
X
TERMINATION
Section
10.01 Termination
upon Liquidation or Purchase of Mortgage
Loans. (a) Subject to Section 10.03, the
obligations and responsibilities of the Depositor, the Transferor, the Master
Servicer, the Trust Administrator and the Trustee created hereby with respect
to
the Trust Fund shall terminate upon the earlier of (i) the purchase in
accordance with this Section 10.01, of all Mortgage Loans (and REO Properties)
remaining in the Trust Fund and (ii) the later of (x) the maturity or other
liquidation (or any Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all REO Property and
(y) the distribution to Certificateholders of all amounts required to be
distributed to them pursuant to this Agreement. The purchase of any
Mortgage Loans pursuant to this Section 10.01(a) shall be at the price equal
to
the sum of (x) the aggregate Clean-up Call Mortgage Loan Price for all the
related Mortgage Loans and (y) the aggregate Clean-up Call REO Property
Price for all the related REO Properties. In no event shall the
trusts created hereby continue beyond the expiration of 21 years from the death
of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late Ambassador
of
the United States to the Court of St. James’s, living on the date
hereof. The right of the Master Servicer to elect to purchase
Mortgage Loans pursuant to this clause (a) shall be conditioned upon the
Aggregate Pool Principal Balance, at the time of any such purchase, aggregating
less than one percent (1%) of the aggregate Cut-off Date Principal Balance
of
the Mortgage Loans.
(b) Within
two (2) Business Days after the Master Servicer has elected to purchase
Mortgage Loans and terminate a portion of the Trust Fund pursuant to
Section 10.01(a), the Master Servicer shall deliver a bid notice for the
Mortgage Loans and such REO Properties to UBS Securities LLC and at least two
other institutions that are regular purchasers and/or sellers in the secondary
market of residential whole mortgage loans. The bid notice shall
specify the Mortgage Loans and the REO Properties that are being sold, identify
the aggregate Clean-up Call REO Property Price required to be paid for such
REO
Properties and the other information necessary for the bidders to make
bids. The Master Servicer shall also be entitled to submit a bid for
the Mortgage Loans and the REO Properties that are being sold. All
bids must be submitted to the Master Servicer on a date determined by the Master
Servicer, which date shall be set forth in the bid notice. Only cash
bids may be accepted. With respect to the Mortgage Loans to be
purchased, if one or more bids that exceed the aggregate Par Call Price are
received, the Fair Market Value Call Price for the Mortgage Loans shall be
equal
to the price bid by the highest bidder, and such bidder shall complete the
purchase of the related Mortgage Loans and the REO Properties from the Trust
Fund at the aggregate Clean-up Call Mortgage Loan Price for such Mortgage Loans
and the aggregate Clean-up Call REO Property Price for such REO Properties
before the final Distribution Date for the related Certificates. With
respect to the Mortgage Loans to be purchased, if fewer than three bids are
received or no cash bid exceeds the aggregate of the Par Call Price for the
Mortgage Loans, the Fair Market Value Call Price shall be zero and the Master
Servicer shall complete the purchase of the Mortgage Loans and the REO
Properties from the Trust Fund at the aggregate Clean-up Call Mortgage Loan
Price for the Mortgage Loans and the aggregate Clean-up Call REO Property Price
for the REO Properties before the final Distribution Date for the related
Certificates.
Section
10.02 Final
Distribution on the Certificates. If on any Determination Date,
the Master Servicer determines that there are no Outstanding Mortgage Loans
and
no other funds or assets in the Trust Fund other than the funds in the
Collection Account, the Master Servicer shall direct the Trust Administrator
promptly to send a Notice of Final Distribution to each
Certificateholder. If the Master Servicer elects to terminate a
portion of the Trust Fund pursuant to clause (a) of Section 10.01, by
purchasing certain Mortgage Loans and REO Properties by no later than the 10th
day of the month of the expected final distribution, the Master Servicer shall
notify the Depositor and the Trust Administrator of the Distribution Date on
which the Master Servicer intends to terminate such portion of the Trust Fund;
provided, however, if the Trust Administrator and the Master Servicer are not
the same Person, then such notice shall occur by no later than the 7th day of
the month
of the expected final distribution for the related Certificates.
Notice
of
any termination of a portion of the Trust Fund, specifying the Distribution
Date
on which the related Certificateholders may surrender their Certificates for
payment of the final distribution and cancellation, shall be given promptly
by
the Trust Administrator by letter to the related Certificateholders mailed
not
later than the 10th day of the month of such final distribution. Any
such Notice of Final Distribution shall specify (a) the Distribution Date
upon which final distribution on the related Certificates will be made upon
presentation and surrender of Certificates at the office therein designated,
(b) the location of the office or agency at which such presentation and
surrender must be made, and (c) that the Record Date otherwise applicable
to such Distribution Date is not applicable, distributions being made only
upon
presentation and surrender of the related Certificates at the office therein
specified. The Trust Administrator will give such notice to each
Rating Agency at the time such notice is given to
Certificateholders. In connection with any such termination of a
portion of the Trust Fund, the Master Servicer shall cause all funds in the
Collection Account, including the Clean-up Call Mortgage Loan Price and Clean-up
Call REO Property Price for the related Mortgage Loans and REO Properties,
respectively, to be remitted to the Trust Administrator for deposit in the
Distribution Account no later than the Business Day prior to the applicable
Distribution Date. Upon such final deposit by the Master Servicer
with respect to the Trust Fund and the receipt by the Trust Administrator of
a
Request for Release therefor, the Trust Administrator shall promptly release
to
the Master Servicer, or its designee, the Mortgage Files for the related
Mortgage Loans.
Upon
presentation and surrender of the Certificates, the Trust Administrator shall
cause to be distributed to the Certificateholders of each Class, in the order
set forth in Section 4.02 hereof, on the final Distribution Date for the
related Certificates, in proportion to their respective Percentage Interests,
with respect to Certificateholders of the same Class, an amount equal to
(i) as to each related Class of Regular Certificates, the Certificate
Principal Balance thereof plus accrued interest thereon and (ii) as to the
Residual Certificates, the amount, if any, that remains on deposit in the
Distribution Account (other than the amounts retained to meet
claims).
In
the
event that any affected Certificateholders shall not surrender Certificates
for
cancellation within six months after the date specified in the above mentioned
written notice, the Trust Administrator shall give a second written notice
to
the remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect
thereto. If within six months after the second notice all the
applicable Certificates shall not have been surrendered for cancellation, the
Trust Administrator may take reasonable steps, or may appoint an agent to take
reasonable steps, to contact the remaining Certificateholders concerning
surrender of their Certificates, and the cost thereof shall be paid out of
the
funds and other assets of REMIC II that remain subject hereto and (i) the
Class AR Certificateholders shall be entitled to all unclaimed funds and
other assets of REMIC I and (ii) the Class AR Certificateholders shall
be entitled to all unclaimed funds and other assets of REMIC II, in each case,
that remain subject hereto.
Section
10.03 Additional
Termination Requirements. (a) In the event the
purchase option described in clause (a) of Section 10.01 is exercised,
each REMIC created hereby shall be terminated in accordance with the following
additional requirements, unless the Trust Administrator and the Trustee has
been
supplied with an Opinion of Counsel, at the expense of the Master Servicer,
to
the effect that the failure to comply with the requirements of this
Section 10.03 will not (i) result in the imposition of taxes on
“prohibited transactions” on any REMIC created hereby as defined in
Section 860F of the Code, or (ii) cause any such REMIC to fail to
qualify as a REMIC at any time that any Certificates are
outstanding:
(i) The
notice given by the Master Servicer under Section 10.02 shall provide that
such notice constitutes the adoption of a plan of complete liquidation of the
REMICs as of the date of such notice (or, if earlier, the date on which the
first such notice is mailed to Certificateholders). The Master
Servicer shall also specify such date in a statement attached to the final
tax
return of each REMIC created hereby; and
(ii) Within
89
days of adoption of such a plan of complete liquidation of the REMICs and at
or
prior to the final Distribution Date, the Trust Administrator shall sell all
of
the assets of the Trust Fund to the Master Servicer for cash at the purchase
price specified in Section 10.01 and shall distribute such cash by the next
Distribution Date after such adoption in the manner specified in
Section 10.02.
ARTICLE
XI
MISCELLANEOUS
PROVISIONS
Section
11.01 Amendment. This
Agreement may be amended from time to time by the Depositor, the Transferor,
the
Master Servicer, the Custodian, the Trust Administrator and the Trustee without
the consent of any of the Certificateholders (i) to cure any ambiguity or
mistake, including without limitation conforming this Agreement to the final
version of the prospectus or memorandum or circular pursuant to which the
affected Class of Certificates was initially offered and sold, (ii) to
correct any defective provision herein or to supplement any provision herein
which may be inconsistent with any other provision herein or in the Prospectus
Supplement, (iii) to add to the duties of the Depositor, the Trustee, the
Trust Administrator, the Transferor, the Custodian or the Master Servicer,
(iv) to add any other provisions with respect to matters or questions
arising hereunder or (v) to modify, alter, amend, add to or rescind any of
the terms or provisions contained in this Agreement; provided, solely as
to an amendment pursuant to (i) above, an Officer’s Certificate of the Depositor
will be required identifying the mistake, stating that the amendment is needed
to correct the mistake and describing the basis for such conclusion provided,
further that any action pursuant to clause (iv) or (v) above shall not,
as evidenced by an Opinion of Counsel addressed to the Trust Administrator
and
the Trustee (which Opinion of Counsel shall be an expense of the party
requesting the amendment, or if the Trust Administrator requests the amendment,
the Trust Fund), adversely affect in any material respect the interests of
any
Certificateholder; provided, however, that the amendment shall not
be deemed to adversely affect in any material respect the interests of the
Certificateholders if the Person requesting the amendment obtains a letter
from
each Rating Agency stating that the amendment would not result in the
downgrading or withdrawal of the respective ratings then assigned to the
Certificates; it being understood and agreed that any such letter in and of
itself will not represent a determination as to the materiality of any such
amendment and will represent a determination only as to the credit issues
affecting any such rating. The Trust Administrator, Trustee, the
Depositor, the Transferor, the Custodian and the Master Servicer also may at
any
time and from time to time amend this Agreement without the consent of the
Certificateholders to modify, eliminate or add to any of its provisions to
such
extent as shall be necessary or helpful to (i) maintain the qualification
of each REMIC created hereby as a REMIC and the Grantor Trust as a grantor
trust
under the Code, (ii) avoid or minimize the risk of the imposition of any
tax on any REMIC or the Grantor Trust pursuant to the Code that would be a
claim
at any time prior to the final redemption of the Certificates or
(iii) comply with any other requirements of the Code, provided that
the Trust Administrator has been provided an Opinion of Counsel addressed to
the
Trust Administrator, the Trustee and the Master Servicer, which opinion shall
be
an expense of the party requesting such opinion but in any case shall not be
an
expense of the Trustee, the Trust Administrator or the Trust Fund, to the effect
that such action is necessary or helpful to, as applicable, (i) maintain
such qualification, (ii) avoid or minimize the risk of the imposition of
such a tax or (iii) comply with any such requirements of the
Code. In addition, this Agreement may be amended from time to time by
the Depositor, the Master Servicer, the Trust Administrator, the Transferor
and
the Trustee without the consent of any of the Certificateholders to comply
with
the provisions of Regulation AB.
Section
8.12 of this Agreement may also be amended by the Depositor, the Transferor,
the
Master Servicer, the Trust Administrator and the Trustee without the consent
of
any of the Certificateholders, and without the need for any Opinions of Counsel
(other than the tax opinion described below) or Rating Agency confirmation,
in
the event that new guidelines or procedures are issued by the Securities and
Exchange Commission with respect to the preparation and filing of Form 10-K
and the Certification required to be attached thereto as referenced in
Section 8.12(d).
This
Agreement may also be amended from time to time by the Depositor, the
Transferor, the Master Servicer, the Custodian, the Trust Administrator and
the
Trustee with the consent of the Holders of a Majority in Interest of each Class
of Certificates affected thereby for the purpose of adding any provisions to
or
changing in any manner or eliminating any of the provisions of this Agreement
or
of modifying in any manner the rights of the Holders of Certificates;
provided, however, that no such amendment shall (i) reduce in
any manner the amount of, or delay the timing of, payments required to be
distributed on any Certificate without the consent of the Holder of such
Certificate, (ii) adversely affect in any material respect the interests of
the Holders of any Class of Certificates in a manner other than as described
in
the preceding clause (i), without the consent of the Holders of
Certificates of such Class evidencing, as to such Class, Percentage
Interests aggregating 66% or (iii) reduce the aforesaid percentages of
Certificates the Holders of which are required to consent to any such amendment,
without the consent of the Holders of all such Certificates then
outstanding.
Notwithstanding
any contrary provision of this Agreement, the Trustee and the Trust
Administrator shall not consent to any amendment to this Agreement (other than
pursuant to the second preceding paragraph) unless it shall have first received
an Opinion of Counsel addressed to the Trust Administrator and the Trustee,
which opinion shall not be an expense of the Trust Administrator, the Trustee
or
the Trust Fund, to the effect that such amendment is permitted hereunder and
will not cause the imposition of any tax under the REMIC Provisions on any
REMIC
or the Certificateholders or cause any REMIC created hereby to fail to qualify
as a REMIC or the Grantor Trust as a grantor trust at any time that any
Certificates are outstanding.
Promptly
after the execution of any amendment to this Agreement requiring the consent
of
Certificateholders, the Trust Administrator shall furnish written notification
of the substance or a copy of such amendment to each Certificateholder and
each
Rating Agency.
It
shall
not be necessary for the consent of Certificateholders under this
Section to approve the particular form of any proposed amendment, but it
shall be sufficient if such consent shall approve the substance
thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders shall be subject
to
such reasonable regulations as the Trust Administrator may
prescribe.
Nothing
in this Agreement shall require the Trustee or the Trust Administrator to enter
into an amendment without receiving an Opinion of Counsel addressed to the
Trust
Administrator and the Trustee (which Opinion shall not be an expense of the
Trust Administrator, the Trustee or the Trust Fund), satisfactory to the Trustee
and the Trust Administrator that (i) such amendment is permitted and is not
prohibited by this Agreement and that all requirements for amending this
Agreement have been complied with; and (ii) either (A) the amendment
does not adversely affect in any material respect the interests of any
Certificateholder or (B) the conclusion set forth in the immediately
preceding clause (a) is not required to be reached pursuant to this
Section 11.01. Notwithstanding anything to the contrary in this
Section 11.01, the Trustee, the Custodian, the Trust Administrator and the
Master Servicer shall reasonably cooperate with the Depositor and its counsel
to
enter into such amendments or modifications to the Agreement as may be necessary
to comply with Regulation AB and any interpretation thereof by the
Commission.
Section
11.02 Recordation
of Agreement; Counterparts. This Agreement (or an abstract
hereof, if acceptable to the applicable recording office) is subject to
recordation in all appropriate public offices for real property records in
all
the towns or other comparable jurisdictions in which any or all of the Mortgaged
Properties are situated, and in any other appropriate public office or
elsewhere, such recordation to be effected by the Master Servicer at the expense
of the Trust on direction by the Trust Administrator (acting at the written
direction of a Majority in Interest of the Certificateholders), but only upon
direction accompanied by an Opinion of Counsel to the effect that such
recordation materially and beneficially affects the interests of the
Certificateholders.
For
the
purpose of facilitating the recordation of this Agreement as herein provided
and
for other purposes, this Agreement may be executed simultaneously in any number
of counterparts, each of which counterparts shall be deemed to be an original,
and such counterparts shall constitute but one and the same
instrument.
Section
11.03 Governing
Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO AND THE
CERTIFICATEHOLDERS SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS.
Section
11.04 Intention
of Parties. It is the express intent of the parties hereto that
the conveyance of the Trust Fund by the Depositor to the Trustee be, and be
construed as, an absolute sale thereof to the Trustee. It is,
further, not the intention of the parties that such conveyance be deemed a
pledge thereof by the Depositor to the Trustee. However, in the event
that, notwithstanding the intent of the parties, such assets are held to be
the
property of the Depositor, or if for any other reason this Agreement is held
or
deemed to create a security interest in such assets, then (i) this
Agreement shall be deemed to be a security agreement within the meaning of
the
Uniform Commercial Code of the State of New York and (ii) the conveyance
provided for in this Agreement shall be deemed to be an assignment and a grant
by the Depositor to the Trustee, for the benefit of the Certificateholders,
of a
security interest in all of the assets that constitute the Trust Fund, whether
now owned or hereafter acquired.
The
Depositor for the benefit of the Certificateholders shall, to the extent
consistent with this Agreement, take such actions as may be necessary to ensure
that, if this Agreement were deemed to create a security interest in the Trust
Fund, such security interest would be deemed to be a perfected security interest
of first priority under applicable law and will be maintained as such throughout
the term of the Agreement. The Depositor shall arrange for filing any
Uniform Commercial Code continuation statements in connection with any security
interest granted or assigned to the Trustee for the benefit of the
Certificateholder.
Section
11.05 Notices. (a) The
Trust Administrator shall use its best efforts to promptly provide notice to
each Rating Agency with respect to each of the following of which it has actual
knowledge:
(i) Any
material change or amendment to this Agreement;
(ii) The
occurrence of any Master Servicer Event of Termination that has not been
cured;
(iii) The
resignation or termination of the Master Servicer, the Custodian, the Trust
Administrator or the Trustee and the appointment of any successor;
(iv) The
repurchase or substitution of Mortgage Loans pursuant to Section 2.03;
and
(v) The
final
payment to Certificateholders.
In
addition, the Master Servicer shall promptly furnish to each Rating Agency
copies of the following:
(vi) Each
annual statement as to compliance described in Section 3.21;
(vii) Each
annual independent public accountants’ servicing report described in
Section 3.22; and
(viii) Any
notice of a purchase of a Mortgage Loan pursuant to Section 2.02 or
2.03.
(b) All
directions, demands and notices hereunder shall be in writing and shall be
deemed to have been duly given when delivered to (a) in the case of the
Depositor, Mortgage Asset Securitization Transactions, Inc., 0000 Xxxxxx xx
xxx
Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: General Counsel,
(b) in the case of the Master Servicer, Xxxxx Fargo Bank, N.A., 0000 Xxx
Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000, Attention: Corporate Trust
Services - MALT 2007-HF1 or such other address as the Master Servicer may
hereafter furnish to each other party to this Agreement in writing, (c) in
the case of Xxxxx Fargo in its capacity as Custodian, Xxxxx Fargo Bank, N.A.,
0000 00xx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxx, Xxxxxxxxx 00000,
Attention: Corporate Trust Services - MALT 2007-HF1 or such other
address as the Custodian may hereafter furnish to each other party to this
Agreement in writing, (d) in the case of the Trustee, the Corporate Trust
Office, or such other address as the Trustee may hereafter furnish to each
other
party to this Agreement in writing, (e) in the case of the Transferor,
UBS Real Estate Securities Inc., 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx
Xxxx 00000, Attention: General Counsel, (f) in the case of the
Rating Agencies, the address specified therefor in the definition corresponding
to the name of such Rating Agency, and (g) in the case of the Trust
Administrator, the Corporate Trust Office, or such other address as the Trust
Administrator may hereafter furnish to each other party to this Agreement in
writing, may hereafter furnish to each other party to this Agreement in
writing. Notices to Certificateholders shall be deemed given when
mailed, first class postage prepaid, to their respective addresses appearing
in
the Certificate Register.
Section
11.06 Severability
of Provisions. If any one or more of the covenants, agreements,
provisions or terms of this Agreement shall be for any reason whatsoever held
invalid, then such covenants, agreements, provisions or terms shall be deemed
severable from the remaining covenants, agreements, provisions or terms of
this
Agreement and shall in no way affect the validity or enforceability of the
other
provisions of this Agreement or of the Certificates or the rights of the Holders
thereof.
Section
11.07 Assignment. Notwithstanding
anything to the contrary contained herein, except as provided in
Section 6.02 and this Section 11.07, this Agreement may not be
assigned by the Master Servicer without the prior written consent of the Trustee
and Depositor. Pursuant to Section 6.05, the Master Servicer
shall be permitted to pledge its rights as servicer hereunder to a lender,
provided that no such pledge shall permit the termination of the Master
Servicer as Master Servicer unless a successor servicer meeting the requirements
of Sections 6.04 and 7.02 hereunder shall have assumed the rights and
obligations of the Master Servicer hereunder.
Section
11.08 Limitation
on Rights of Certificateholders. The death or incapacity of any
Certificateholder shall not operate to terminate this Agreement or the trust
created hereby, nor entitle such Certificateholder’s legal representative or
heirs to claim an accounting or to take any action or commence any proceeding
in
any court for a petition or winding up of the trust created hereby, or otherwise
affect the rights, obligations and liabilities of the parties hereto or any
of
them.
No
Certificateholder shall have any right to vote (except as provided herein)
or in
any manner otherwise control the operation and management of the Trust Fund,
or
the obligations of the parties hereto, nor shall anything herein set forth
or
contained in the terms of the Certificates be construed so as to constitute
the
Certificateholders from time to time as partners or members of an association;
nor shall any Certificateholder be under any liability to any third party by
reason of any action taken by the parties to this Agreement pursuant to any
provision hereof.
No
Certificateholder shall have any right by virtue or by availing itself of any
provisions of this Agreement to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Agreement, unless such
Holder previously shall have given to the Trustee or the Trust Administrator
a
written notice of a Master Servicer Event of Termination and of the continuance
thereof, as herein provided, and unless the Holders of Certificates evidencing
not less than 25% of the Voting Rights evidenced by the Certificates shall
also
have made written request to the Trustee or Trust Administrator to institute
such action, suit or proceeding in its own name as Trustee or the Trust
Administrator hereunder and shall have offered to the Trustee or the Trust
Administrator such reasonable indemnity as it may require against the costs,
expenses, and liabilities to be incurred therein or thereby, and the Trustee
or
the Trust Administrator, for 60 days after its receipt of such notice,
request and offer of indemnity shall have neglected or refused to institute
any
such action, suit or proceeding; it being understood and intended, and being
expressly covenanted by each Certificateholder with every other
Certificateholder and the Trustee or the Trust Administrator, that no one or
more Holders of Certificates shall have any right in any manner whatever by
virtue or by availing itself or themselves of any provisions of this Agreement
to affect, disturb or prejudice the rights of the Holders of any other of the
Certificates, or to obtain or seek to obtain priority over or preference to
any
other such Holder or to enforce any right under this Agreement, except in the
manner herein provided and for the common benefit of all
Certificateholders. For the protection and enforcement of the
provisions of this Section 11.08, each and every Certificateholder and the
Trustee and the Trust Administrator shall be entitled to such relief as can
be
given either at law or in equity.
Section
11.09 Inspection
and Audit Rights. The Master Servicer agrees that, on reasonable
prior notice, it will permit and will cause each Servicer to permit any
representative of the Depositor or the Trustee during the Master Servicer’s or
Servicer’s, as the case may be, normal business hours, to examine all the books
of account, records, reports and other papers of the Master Servicer or the
Servicer, as the case may be, relating to the Mortgage Loans, to make copies
and
extracts therefrom, to cause such books to be audited by independent certified
public accountants selected by the Depositor or the Trustee and to discuss
its
affairs, finances and accounts relating to the Mortgage Loans with its officers,
employees and independent public accountants (and by this provision the Master
Servicer or the Servicer, as the case may be, hereby authorize said accountants
to discuss with such representative such affairs, finances and accounts), all
at
such reasonable times and as often as may be reasonably
requested. Any out of pocket expense incident to the exercise by the
Depositor or the Trustee of any right under this Section 11.09 shall be
borne by the party requesting such inspection; all other such expenses shall
be
borne by the Master Servicer or the related Servicer.
Section
11.10 Compliance
With Regulation AB. Each of the parties hereto acknowledges and
agrees that the purpose of Sections 3.21, 3.22 and 8.12 of this Agreement is
to
facilitate compliance by the Transferor and the Depositor with the provisions
of
Regulation AB, as such may be amended or clarified from time to
time. Therefore, each of the parties agrees that (a) the obligations
of the parties hereunder shall be interpreted in such a manner as to accomplish
compliance with Regulation AB, (b) the parties’ obligations hereunder will be
supplemented and modified as necessary to be consistent with any such
amendments, interpretive advice or guidance, convention or consensus among
active participants in the asset-backed securities markets, advice of counsel,
or otherwise in respect of the requirements of Regulation AB and (c) the parties
shall comply, to the extent practicable from a timing and information systems
perspective and at the expense of the Depositor, with requests made by the
Trust
Administrator, the Transferor or the Depositor for delivery of additional or
different information as the Trust Administrator, the Transferor or the
Depositor may determine in good faith is necessary to comply with the provisions
of Regulation AB.
Section
11.11 Certificates
Nonassessable and Fully Paid. It is the intention of the
Depositor that Certificateholders shall not be personally liable for obligations
of the Trust Fund, that the interests in the Trust Fund represented by the
Certificates shall be nonassessable for any reason whatsoever, and that the
Certificates, upon due authentication thereof by the Trust Administrator
pursuant to this Agreement, are and shall be deemed fully paid.
[Signature
Page Follows]
IN
WITNESS WHEREOF, the Depositor, the Transferor, the Trustee, the Master
Servicer, the Trust Administrator, the Credit Risk Manager and the Custodian
have caused their names to be signed hereto by their respective officers
thereunto duly authorized as of the day and year first above
written.
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.,
|
|||
as
Depositor
|
|||
|
By:
|
/s/ Xxxxx Xxxxxx | |
Name: Xxxxx Xxxxxx | |||
Title: Associate Director | |||
|
By:
|
/s/ Xxxxxx Xxxxxxx-Bhagrattee | |
Name: Xxxxxx Xxxxxxx-Bhagrattee | |||
Title: Director | |||
UBS
REAL ESTATE SECURITIES INC.,
|
|||
as
Transferor
|
|||
|
By:
|
/s/ Xxxxx Xxxxxx | |
Name: Xxxxx Xxxxxx | |||
Title: Associate Director | |||
|
By:
|
/s/ Xxxxxx Xxxxxxx-Bhagrattee | |
Name: Xxxxxx Xxxxxxx-Bhagrattee | |||
Title: Director | |||
U.S.
BANK NATIONAL ASSOCIATION,
|
|||
as
Trustee
|
|||
|
By:
|
/s/ Xxxxxxx X. Xxxxx | |
Name: Xxxxxxx X. Xxxxx | |||
Title: Vice President | |||
XXXXX
FARGO BANK, N.A.,
|
|||
as
Master Servicer, Trust Administrator and
Custodian
|
|||
|
By:
|
/s/ Xxxxxxx Xxxxx Xxxxx | |
Name: Xxxxxxx Xxxxx Colli | |||
Title: Vice President | |||
XXXXX
FARGO BANK, N.A.,
|
|||
as
Credit Risk Manager
|
|||
|
By:
|
/s/ Xxxxxxx Xxxxx Colli | |
Name: Xxxxxxx Xxxxx Xxxxx | |||
Title: Vice President | |||
SCHEDULE I
Mortgage
Loan Schedule
UBS Loan ID Servicer Arm/Fixed Amortization Orig Balance Curr Balance Loan Number ----------------------------------------------------------------------------------------------------------------------------- 334405839 17085747 Fixed Interest In Arrears 99750 98565.29 334532900 23058779 Arm Interest Only 180000 180000 334532908 23059405 Arm Interest In Arrears 209950 208439.82 334532949 23059926 Arm Interest Only 344000 343390.25 334655990 18320846 Fixed Interest In Arrears 100000 99291.94 334659518 23062821 Arm Interest Only 274000 274000 334659541 23062656 Fixed Interest In Arrears 200000 199355.86 334688853 20857637 Arm Interest Only 340000 340000 334720548 15584147 Arm Interest In Arrears 600000 585557.85 334720549 20724555 Arm Interest Only 664100 664100 334738020 23066350 Arm Interest Only 208000 208000 334738165 23065618 Arm Interest In Arrears 105600 104935.56 334740598 23063084 Arm Interest Only 317000 317000 334740620 23064264 Arm Interest Only 277600 277300 334756494 23063928 Arm Interest Only 176000 176000 334756551 23063225 Arm Interest Only 79200 79200 334921808 23063399 Arm Interest Only 159900 159900 335664299 23076722 Fixed Interest In Arrears 450000 448742.96 335664300 23076763 Fixed Interest In Arrears 450000 449222.92 335664305 23077076 Fixed Interest In Arrears 469400 468472.78 335664316 23076466 Fixed Interest In Arrears 508800 507899.7 335664354 23076847 Fixed Interest Only 440000 440000 335664362 23076839 Fixed Interest Only 568400 568238.83 335664376 23077001 Fixed Interest Only 499000 499000 335664377 23076771 Fixed Interest Only 500000 500000 335664379 23076532 Fixed Interest Only 572000 572000 335664387 23077167 Fixed Interest Only 880000 879999.98 335664390 23076987 Fixed Interest Only 951700 951613.32 335664393 23076599 Fixed Interest Only 1200000 1199750 335736334 835021377 Fixed Interest In Arrears 122400 121075.28 335736335 835021367 Fixed Interest In Arrears 260000 258836.6 335736339 835021368 Fixed Interest In Arrears 105600 104786.55 335736340 835021371 Fixed Interest In Arrears 137520 136390.4 335736342 835021369 Fixed Interest In Arrears 120000 118714.41 335736344 835021378 Fixed Interest Only 1162000 1162000 335736361 835021391 Arm Interest In Arrears 233250 231726.39 335751199 Fixed Interest In Arrears 458000 457149.34 335751203 Fixed Interest In Arrears 432000 430733.92 335751204 Fixed Interest In Arrears 470800 469516.24 335751227 Fixed Interest Only 496000 496000 335847961 835021409 Fixed Interest In Arrears 99592 98831.76 335847965 835021436 Arm Interest Only 252000 252000 335847968 835021417 Arm Interest In Arrears 225000 223028.53 777005164 131260 Fixed Interest In Arrears 736000 172584.15 777008436 1146001592 Fixed Interest In Arrears 125000 121672.98 777008553 835020202 Arm Interest In Arrears 160000 155973.05 777008555 835020201 Arm Interest In Arrears 88200 85527.69 777008649 17047580 Arm Interest Only 102500 102496.56 777010295 835021064 Fixed Interest In Arrears 708000 697400.2 777010304 15544349 Arm Interest In Arrears 470000 455189.06 777010306 15566243 Arm Interest In Arrears 397600 385311.94 777010315 19019017 Fixed Interest In Arrears 300000 292743.15 777011692 835021065 Fixed Interest Only 246000 245986.59 777017938 17103730 Fixed Interest In Arrears 183000 176691.93 777018098 17112301 Fixed Interest In Arrears 100000 98850.43 777018345 17107244 Fixed Interest In Arrears 83000 81774.56 777019969 17118183 Arm Interest Only 93000 93000 777022040 20843215 Fixed Interest In Arrears 150000 148603.96 777022104 560608625 Fixed Interest In Arrears 134400 133026.8 777022731 154841498 Fixed Interest In Arrears 207900 205736.68 777022867 17135278 Fixed Interest In Arrears 128000 126803.36 777022899 155598519 Fixed Interest Only 134400 134358 777023524 17139353 Fixed Interest In Arrears 174900 173479.89 777024142 19705607 Fixed Interest In Arrears 90000 89063.49 777024145 156065617 Fixed Interest In Arrears 88000 87360.56 777024357 17140237 Fixed Interest In Arrears 124000 122770.42 777024375 19705532 Arm Interest Only 588750 588750 777024623 19704477 Fixed Interest In Arrears 140000 138788.74 777024877 22104012 Arm Interest In Arrears 412400 409284.58 777024948 22107841 Fixed Interest Only 285000 285000 777025030 156190605 Fixed Interest In Arrears 124400 123265.88 777025382 19702158 Fixed Interest In Arrears 188000 186743.8 777025988 22101570 Arm Interest In Arrears 147600 146499.52 777026173 22104863 Fixed Interest In Arrears 402000 398576.9 777026199 22105860 Fixed Interest In Arrears 257000 254675.37 777026269 22108054 Arm Interest Only 59850 59850 777026273 22102891 Arm Interest Only 380000 380000 777026468 19699941 Arm Interest In Arrears 60000 59633.62 777026595 22103089 Fixed Interest In Arrears 360000 356934.57 777026750 22108021 Arm Interest Only 59850 59850 777026765 19699180 Arm Interest In Arrears 192872 191645.5 777027150 156959702 Fixed Interest In Arrears 184000 182662.94 777027202 19699149 Arm Interest In Arrears 412000 409373.76 777027266 157404005 Fixed Interest In Arrears 171200 170152.01 777027293 560717083 Fixed Interest In Arrears 480930 477118.42 777027474 22166292 Fixed Interest Only 138600 138600 777027538 22165377 Fixed Interest In Arrears 355000 351292.84 777027649 19698786 Arm Interest In Arrears 351000 348412.87 777027783 22165559 Fixed Interest In Arrears 256000 253820.08 777028136 19698158 Arm Interest In Arrears 240000 238028.77 777028237 22170922 Arm Interest Only 212000 211927.12 777028498 22179550 Fixed Interest In Arrears 85000 84327.13 777028656 22168264 Fixed Interest In Arrears 360000 354014.98 777028666 22171953 Fixed Interest In Arrears 51200 49975.27 777028816 22174130 Fixed Interest In Arrears 96900 96399.61 777028834 22169395 Fixed Interest In Arrears 480000 477227.69 777028888 19694041 Fixed Interest In Arrears 126490 125777.4 777028924 22175731 Fixed Interest In Arrears 1050000 1042260.71 777028942 22176754 Arm Interest In Arrears 76000 75334.72 777028979 22176903 Fixed Interest Only 128250 128250 777028989 22179436 Fixed Interest In Arrears 97500 96842.24 777029007 22171318 Fixed Interest In Arrears 116550 115690.84 777029082 19695824 Fixed Interest In Arrears 159900 158855.49 777029110 22181200 Fixed Interest In Arrears 298467 297245.17 777029183 22172530 Fixed Interest Only 632000 632000 777029204 22187629 Fixed Interest In Arrears 193000 191466.84 777029210 22172902 Fixed Interest Only 211000 211000 777029320 19693035 Fixed Interest In Arrears 89700 87597.55 777029383 19694777 Fixed Interest In Arrears 161250 160375.14 777029420 19694454 Fixed Interest In Arrears 139750 138907.18 777029431 22178834 Fixed Interest In Arrears 60000 59608.1 777029449 22178206 Arm Interest In Arrears 275000 273159.44 777029455 22175079 Fixed Interest In Arrears 269640 268247.55 777029589 22177778 Fixed Interest In Arrears 128156 127318.9 777029659 22180012 Fixed Interest In Arrears 168000 167153.75 777029734 22177489 Fixed Interest In Arrears 282000 280312.82 777029774 22176002 Fixed Interest In Arrears 156000 155022.93 777029776 22175988 Fixed Interest In Arrears 123500 122726.7 777029777 22176028 Fixed Interest In Arrears 81250 80741.1 777029799 19693977 Fixed Interest In Arrears 1275000 1267371.83 777029815 22175004 Fixed Interest In Arrears 294500 292862.39 777029931 19695352 Fixed Interest Only 417000 417000 777029950 22177356 Fixed Interest In Arrears 180000 179047.15 777029979 19697689 Fixed Interest Only 124800 124800 777029981 19693241 Fixed Interest Only 151120 151120 777030042 22177398 Fixed Interest In Arrears 268000 266839.05 777030211 22181259 Fixed Interest In Arrears 173400 172381.25 777030263 19693936 Fixed Interest In Arrears 101000 98685.46 777030286 19695063 Fixed Interest In Arrears 193500 192500.77 777030296 19692805 Fixed Interest In Arrears 117000 116395.8 777030324 19692813 Fixed Interest In Arrears 171720 170833.26 777030335 19692466 Fixed Interest In Arrears 213300 212425.93 777030414 22183461 Arm Interest In Arrears 268000 266726.51 777030515 22188130 Fixed Interest In Arrears 111055 110745.94 777030637 19693753 Fixed Interest Only 133665 133665 777030643 19692821 Fixed Interest In Arrears 72900 72256.12 777030846 22179758 Fixed Interest In Arrears 150000 147483.77 777030944 19691096 Fixed Interest In Arrears 189000 187841.53 777031066 22109243 Fixed Interest Only 723750 723750 777031118 19688738 Fixed Interest In Arrears 111000 110593.17 777031127 22186977 Fixed Interest In Arrears 357000 354554.96 777031148 22187009 Arm Interest In Arrears 412000 409943.91 777031374 22188338 Fixed Interest Only 186990 186989.51 777031379 22189286 Fixed Interest Only 217706 217706 777031569 22188320 Fixed Interest Only 111800 111800 777031602 22187199 Arm Interest In Arrears 126000 125590.04 777031677 22186829 Arm Interest Only 361000 361000 777031683 22187793 Fixed Interest Only 225300 225300 777031704 19691278 Fixed Interest In Arrears 166250 165507.28 777031705 19691435 Fixed Interest In Arrears 175750 174964.86 777031766 22184402 Fixed Interest In Arrears 95500 95046.19 777031783 22184188 Arm Interest In Arrears 355000 353191.39 777031836 22188445 Arm Interest In Arrears 89150 88215.89 777031906 22109730 Arm Interest Only 292000 292000 777031978 22189294 Arm Interest Only 184000 184000 777032001 19688605 Fixed Interest In Arrears 88000 85415.37 777032047 19688597 Fixed Interest Only 252000 252000 777032061 22185698 Fixed Interest Only 154400 154400 777032109 159089036 Fixed Interest In Arrears 96500 94723.78 777032158 22108799 Fixed Interest In Arrears 190000 189081.57 777032182 19688241 Fixed Interest In Arrears 88500 85900.67 777032185 19688217 Fixed Interest In Arrears 68500 66488.09 777032311 22110159 Arm Interest Only 212000 212000 777032372 22187876 Arm Interest In Arrears 89600 89209.94 777032373 22187850 Arm Interest In Arrears 67200 66907.43 777032448 22109821 Fixed Interest In Arrears 250000 248801.55 777032451 22109474 Arm Interest Only 425000 425000 777032459 22188619 Fixed Interest Only 121030 121030 777032614 22109748 Arm Interest In Arrears 169600 168993.68 777032632 19682806 Fixed Interest In Arrears 71250 71025.66 777032637 19684778 Fixed Interest In Arrears 105000 104279.8 777032699 19684463 Fixed Interest In Arrears 66750 66539.83 777032712 19687631 Fixed Interest In Arrears 228000 227031.21 777032734 22188171 Arm Interest Only 512000 511999.5 777032756 19684661 Fixed Interest In Arrears 108300 108041.46 777032767 22188734 Arm Interest Only 194750 194750 777032790 19683630 Fixed Interest In Arrears 66500 66341.26 777032859 22187918 Fixed Interest In Arrears 97850 97640.71 777032875 22109441 Fixed Interest In Arrears 60000 59824.62 777032886 22189070 Fixed Interest In Arrears 600000 589903.29 777032887 22188502 Fixed Interest In Arrears 172800 172540 777032914 19686054 Fixed Interest In Arrears 229600 228737.29 777032945 19686005 Fixed Interest In Arrears 115920 115505.58 777033051 22189153 Arm Interest Only 248000 248000 777033075 22189161 Fixed Interest In Arrears 150400 149845.96 777033293 19685841 Fixed Interest In Arrears 163150 161609.22 777033294 22188585 Arm Interest Only 379800 379800 777033302 19685650 Arm Interest Only 1464000 1464000 777033303 19685205 Fixed Interest In Arrears 66500 66341.26 777033312 22109490 Fixed Interest In Arrears 80000 79616.84 777033353 19685601 Fixed Interest In Arrears 82400 82153.1 777033357 19685577 Fixed Interest In Arrears 70000 69790.25 777033367 19685262 Fixed Interest In Arrears 94400 94083.74 777033463 22110043 Arm Interest Only 280000 279800 777033513 19685304 Fixed Interest In Arrears 164000 163483.59 777033559 22109508 Fixed Interest In Arrears 64800 64434.78 777033569 19686211 Fixed Interest In Arrears 350000 348813.69 777033613 22109938 Arm Interest Only 333000 333000 777033633 19685114 Fixed Interest In Arrears 63000 62844.77 777033634 19684729 Fixed Interest Only 130150 130150 777033661 19684802 Fixed Interest Only 197760 197665.61 777033665 19684612 Fixed Interest In Arrears 130150 129718.51 777033688 19685122 Arm Interest Only 231200 231200 777033703 22109615 Fixed Interest In Arrears 420000 415921.4 777033797 22110878 Arm Interest Only 594000 594000 777033923 19681295 Fixed Interest In Arrears 418000 417758.62 777033927 19681899 Fixed Interest In Arrears 415000 414760.35 777033998 19683259 Fixed Interest In Arrears 145200 144013.51 777034066 22109672 Fixed Interest In Arrears 229600 228708.8 777034134 22110357 Arm Interest Only 396000 396000 777034137 19683564 Arm Interest In Arrears 88920 88728.55 777034177 19682467 Arm Interest In Arrears 113400 113115.11 777034246 19685296 Fixed Interest In Arrears 152000 150826.94 777034318 22110951 Arm Interest Only 163900 163900 777034336 22110217 Fixed Interest In Arrears 100000 99543.06 777034338 22111769 Fixed Interest In Arrears 999999 997219 777034365 19681709 Fixed Interest In Arrears 310000 309788.43 777034371 19683267 Fixed Interest In Arrears 352000 351159.72 777034378 19683283 Fixed Interest In Arrears 280000 279707.43 777034387 22111272 Fixed Interest In Arrears 98400 97120.26 777034427 19681915 Fixed Interest In Arrears 178500 178328.03 777034429 19683499 Fixed Interest In Arrears 323000 322228.94 777034739 9042489005 Fixed Interest In Arrears 530000 528692.08 777034983 22111652 Arm Interest Only 280000 279966.42 777035007 19680685 Fixed Interest In Arrears 324000 323687.85 777035170 22117915 Fixed Interest Only 212000 212000 777035245 22114318 Fixed Interest Only 433600 433600 777035278 22112577 Fixed Interest In Arrears 269600 269330.84 777035300 22112858 Fixed Interest In Arrears 496000 495612.32 777035335 22113542 Fixed Interest In Arrears 588000 587223.34 777035428 22112882 Fixed Interest In Arrears 218500 218382.94 777035496 22115356 Arm Interest Only 224100 224100 777035617 22116818 Arm Interest Only 161000 161000 777035624 22117386 Fixed Interest In Arrears 237500 236897.96 777035710 19679976 Fixed Interest In Arrears 417000 415993.64 777035723 22115497 Arm Interest Only 148720 148720 777035760 22115323 Fixed Interest Only 1207500 1207500 777035762 22115505 Fixed Interest Only 355000 355000 777035786 22115372 Fixed Interest In Arrears 75000 74885.51 777035933 359508763 Fixed Interest In Arrears 426250 425142.82 777035949 22115489 Fixed Interest Only 355500 355499.98 777035988 359504643 Arm Interest Only 500000 500000 777035997 359504445 Fixed Interest In Arrears 300000 299451.77 777035998 22114482 Fixed Interest In Arrears 355000 354747.14 777036128 19674860 Fixed Interest Only 130270 130270 777036313 22115893 Arm Interest Only 440000 440000 777036315 22118541 Arm Interest Only 910000 910000 777036329 19675917 Fixed Interest Only 215000 215000 777036349 19679141 Fixed Interest In Arrears 207000 206040.01 777036369 19679109 Fixed Interest In Arrears 393000 392654.87 777036443 22114474 Fixed Interest In Arrears 232000 231844.57 777036459 22117394 Arm Interest Only 672000 672000 777036524 359506374 Fixed Interest In Arrears 422400 422279 777036527 359506964 Arm Interest In Arrears 375000 373926.99 777036579 22115570 Fixed Interest Only 1000000 999996.91 777036689 22116214 Arm Interest Only 728000 728000 777036692 22118533 Arm Interest Only 263970 263970 777036817 359508784 Fixed Interest In Arrears 175750 175608.58 777036834 359507001 Fixed Interest In Arrears 304000 303783.48 777036845 359508757 Fixed Interest In Arrears 469600 469228.38 777036887 19673987 Arm Interest In Arrears 198000 198000 777036906 19678358 Fixed Interest In Arrears 150000 149386.62 777036959 22117063 Fixed Interest In Arrears 378000 377658.28 777036960 22117071 Fixed Interest Only 880000 880000 777036981 19674795 Arm Interest Only 403750 403750 777037017 22114227 Fixed Interest In Arrears 550000 549002.9 777037023 22115612 Fixed Interest In Arrears 303800 303458.1 777037059 19675784 Fixed Interest In Arrears 221000 220805.01 777037063 22116552 Fixed Interest Only 995000 991994.93 777037087 22115349 Arm Interest Only 369000 369000 777037098 359512539 Arm Interest Only 335000 335000 777037153 19672989 Arm Interest Only 555000 555000 777037155 19673490 Arm Interest Only 480000 480000 777037186 22115273 Fixed Interest In Arrears 123750 123561.1 777037187 22115380 Fixed Interest In Arrears 562500 561683.17 777037209 22115679 Fixed Interest In Arrears 101000 100432.54 777037225 22115513 Fixed Interest In Arrears 114300 114203.97 777037237 19675222 Fixed Interest In Arrears 106000 105904.18 777037276 19675206 Fixed Interest In Arrears 137500 137390.05 777037277 19675214 Fixed Interest In Arrears 142000 141886.45 777037278 19675198 Fixed Interest In Arrears 116750 116656.63 777037283 22115711 Fixed Interest Only 156750 156750 777037299 22115539 Arm Interest Only 688750 688750 777037303 19674274 Arm Interest Only 361000 361000 777037383 19675107 Fixed Interest Only 270000 270000 777037389 19673425 Arm Interest Only 136325 136325 777037399 22117527 Fixed Interest In Arrears 213750 213750 777037433 19674316 Arm Interest Only 293300 293300 777037445 22116875 Fixed Interest In Arrears 417000 416131.08 777037471 22116511 Fixed Interest Only 137300 137300 777037473 22115836 Arm Interest Only 237735 237735 777037563 19672682 Arm Interest In Arrears 342000 342000 777037566 19673185 Fixed Interest In Arrears 297500 297500 777037583 19675461 Fixed Interest In Arrears 148230 148102.37 777037636 22117436 Fixed Interest Only 762400 762400 777037637 22116677 Fixed Interest In Arrears 99850 99759.73 777037640 22116503 Fixed Interest In Arrears 492000 491655.19 777037643 22116537 Fixed Interest Only 420000 420000 777037665 22118178 Fixed Interest Only 414000 414000 777037670 22115646 Arm Interest Only 578000 578000 777037677 22116024 Fixed Interest Only 80400 80400 777037717 19673722 Fixed Interest In Arrears 75600 75600 777037727 19674555 Fixed Interest Only 161900 161900 777037770 19675040 Fixed Interest Only 180000 179974.5 777037795 19672211 Fixed Interest In Arrears 223083 223083 777037811 22115620 Fixed Interest Only 171000 171000 777037814 22117444 Fixed Interest In Arrears 163300 163090.27 777037840 22116008 Fixed Interest Only 298400 298400 777037846 19672898 Fixed Interest Only 136000 136000 777037864 19675339 Fixed Interest Only 256450 256450 777037866 19675800 Fixed Interest In Arrears 245000 244587.16 777037875 19643907 Arm Interest Only 1300000 1300000 777037891 22117451 Fixed Interest Only 152500 152500 777037895 22116750 Fixed Interest In Arrears 100000 99923.9 777037929 22117139 Fixed Interest Only 339300 339300 777037940 19675826 Fixed Interest In Arrears 101600 101504.42 777037945 19674803 Fixed Interest Only 299250 299250 777037954 22117089 Fixed Interest In Arrears 550000 550000 777037986 22117121 Fixed Interest In Arrears 450000 449747.73 777037991 22117709 Fixed Interest In Arrears 163200 163075.82 777038024 22116776 Fixed Interest Only 153000 152996.31 777038029 22116990 Arm Interest Only 223200 223200 777038040 19674738 Fixed Interest Only 233910 233910 777038041 19675636 Fixed Interest Only 416000 416000 777038055 19674449 Fixed Interest In Arrears 83600 83600 777038064 19676097 Arm Interest Only 796000 796000 777038075 19673870 Fixed Interest In Arrears 70000 69942.62 777038079 19675875 Fixed Interest In Arrears 114400 114321.21 777038091 22116222 Fixed Interest Only 438000 438000 777038103 22118491 Fixed Interest In Arrears 170000 169777.48 777038107 22115430 Arm Interest In Arrears 729000 728601.8 777038143 19677475 Arm Interest Only 780000 780000 777038147 22116107 Fixed Interest In Arrears 107910 107745.27 777038162 22117642 Fixed Interest Only 240000 239999.89 777038175 19674225 Fixed Interest Only 68400 68400 777038181 22116404 Fixed Interest In Arrears 159600 159484.49 777038182 22118327 Arm Interest Only 291000 291000 777038185 19674209 Fixed Interest Only 82800 82800 777038191 22115729 Arm Interest Only 465500 465500 777038198 22117956 Fixed Interest In Arrears 518445 518138.91 777038199 22117188 Fixed Interest In Arrears 496000 495593.42 777038204 19671973 Fixed Interest In Arrears 107900 107900 777038206 19675172 Arm Interest Only 535500 535500 777038227 19672567 Fixed Interest In Arrears 94900 94900 777038229 19675149 Fixed Interest Only 143050 143050 777038235 19674704 Arm Interest Only 193600 193600 777038239 19675362 Arm Interest In Arrears 390000 390000 777038255 22117378 Fixed Interest Only 396000 396000 777038256 22115695 Fixed Interest In Arrears 431250 430937.87 777038264 22115968 Fixed Interest In Arrears 345000 344418.66 777038270 19674142 Fixed Interest Only 117250 117250 777038289 19674720 Fixed Interest Only 130600 130600 777038312 22116909 Fixed Interest Only 535700 535700 777038331 19672468 Arm Interest Only 1600000 1600000 777038332 19673839 Arm Interest Only 430000 430000 777038335 22116560 Fixed Interest In Arrears 88650 88596.3 777038349 19674951 Fixed Interest Only 182000 182000 777038359 22116032 Fixed Interest In Arrears 143100 143021.67 777038362 19673854 Fixed Interest In Arrears 55250 55206.9 777038363 22116685 Fixed Interest Only 396000 395900 777038367 22116164 Fixed Interest Only 417000 417000 777038375 22116883 Fixed Interest In Arrears 96900 96803.02 777038377 19674407 Fixed Interest In Arrears 199700 199638.52 777038378 19674837 Fixed Interest Only 123450 123450 777038382 22116172 Fixed Interest In Arrears 388000 387712.05 777038383 19675909 Arm Interest In Arrears 202500 202383.49 777038401 22117600 Fixed Interest Only 880000 880000 777038417 19674084 Fixed Interest Only 148200 148200 777038420 19673110 Arm Interest In Arrears 1127000 1127000 777038423 22115703 Arm Interest Only 180000 180000 777038425 22116826 Arm Interest Only 441700 441700 777038435 22116842 Fixed Interest In Arrears 196000 195865.11 777038462 19675396 Fixed Interest In Arrears 93600 93446.11 777038466 19672005 Arm Interest Only 225000 225000 777038500 22118145 Arm Interest Only 342500 342500 777038502 19676717 Arm Interest Only 600000 600000 777038505 19672658 Arm Interest In Arrears 435000 435000 777038526 22116305 Fixed Interest In Arrears 100800 100696.64 777038540 19675487 Fixed Interest In Arrears 102700 102531.13 777038542 19675479 Fixed Interest In Arrears 89050 88903.59 777038543 19673391 Arm Interest Only 315000 315000 777038557 19675453 Fixed Interest In Arrears 83200 83063.21 777038558 19675370 Fixed Interest In Arrears 98800 98637.55 777038564 19673383 Arm Interest Only 360000 360000 777038589 19672195 Fixed Interest Only 108800 108800 777038592 19675404 Fixed Interest Only 442000 442000 777038599 19675586 Fixed Interest In Arrears 256500 256314.96 777038604 19674712 Fixed Interest In Arrears 87300 87300 777038610 22118590 Fixed Interest In Arrears 133000 132933.7 777038630 22116578 Fixed Interest In Arrears 324000 323551.69 777038634 22118335 Fixed Interest In Arrears 1050000 1050000 777038637 19671767 Arm Interest In Arrears 143000 143000 777038644 19674548 Fixed Interest In Arrears 232500 232500 777038649 19674092 Fixed Interest Only 144950 144950 777038659 19671023 Fixed Interest In Arrears 105000 105000 777038676 22116925 Arm Interest Only 747000 747000 777038687 19675495 Fixed Interest In Arrears 225000 225000 777038694 19671049 Arm Interest Only 207100 207100 777038701 22117329 Fixed Interest In Arrears 150000 150000 777038709 22116982 Arm Interest Only 589450 589450 777038710 19643709 Fixed Interest In Arrears 235000 235000 777038728 19671460 Fixed Interest Only 126810 126810 777038729 19643733 Fixed Interest In Arrears 1000000 999095.99 777038749 19674308 Fixed Interest In Arrears 180000 179866.41 777038769 19675164 Arm Interest In Arrears 338000 337387.23 777038784 19673136 Fixed Interest Only 380000 380000 777038791 19673672 Arm Interest In Arrears 750000 750000 777038804 22117881 Fixed Interest In Arrears 260000 259802.16 777038805 22117675 Fixed Interest Only 332500 332500 777038814 22116594 Fixed Interest In Arrears 93100 93043.6 777038821 19671429 Fixed Interest Only 335000 335000 777038825 22116255 Fixed Interest Only 622250 622250 777038831 22117147 Fixed Interest Only 261000 261000 777038834 19670504 Fixed Interest In Arrears 50000 50000 777038842 22116859 Arm Interest In Arrears 152000 151921.2 777038852 19675032 Fixed Interest Only 259700 259700 777038855 19676014 Fixed Interest Only 235600 235600 777038877 22117774 Fixed Interest In Arrears 265000 264817.63 777038882 19671809 Fixed Interest In Arrears 110000 110000 777038891 19674787 Fixed Interest In Arrears 108000 108000 777038919 22117097 Fixed Interest In Arrears 157400 157288.91 777038933 19672401 Arm Interest Only 419000 419000 777038953 22117907 Fixed Interest Only 315000 315000 777038960 19674605 Arm Interest Only 512000 512000 777038962 19672633 Fixed Interest Only 142000 142000 777038965 19673292 Arm Interest Only 299250 299250 777038966 19673581 Arm Interest In Arrears 95000 95000 777038967 22118277 Fixed Interest In Arrears 550000 549601.92 777038969 22118525 Arm Interest Only 517500 517500 777038979 22117006 Fixed Interest In Arrears 426700 426314.26 777038984 22117352 Arm Interest Only 617500 617500 777039004 19671502 Fixed Interest In Arrears 668600 668600 777039016 19673458 Fixed Interest In Arrears 174950 174826.53 777039023 19673540 Arm Interest In Arrears 186000 186000 777039027 19673201 Fixed Interest Only 170950 170950 777039034 22117113 Fixed Interest In Arrears 95920 95863.37 777039041 19673524 Fixed Interest In Arrears 70000 69942.62 777039046 19670827 Arm Interest Only 288000 288000 777039049 19673912 Fixed Interest In Arrears 138400 138400 777039056 19672021 Arm Interest Only 2000000 2000000 777039060 19672294 Fixed Interest Only 343000 342950 777039066 19673466 Arm Interest Only 500000 500000 777039068 19671627 Fixed Interest In Arrears 263500 263500 777039069 19672831 Fixed Interest Only 375000 374383.96 777039099 19673367 Fixed Interest In Arrears 148000 147885.96 777039112 19674878 Arm Interest Only 368000 368000 777039119 19674571 Fixed Interest In Arrears 285000 285000 777039123 22117253 Fixed Interest Only 128400 128400 777039124 22117816 Fixed Interest In Arrears 350100 350100 777039125 22117154 Fixed Interest Only 326325 326325 777039143 19672088 Arm Interest Only 522500 522500 777039144 19672518 Arm Interest Only 315000 315000 777039146 19673953 Arm Interest In Arrears 228000 228000 777039167 19672609 Arm Interest Only 159920 159920 777039191 19673078 Fixed Interest In Arrears 72450 72450 777039195 19641653 Fixed Interest In Arrears 58300 58300 777039197 19674282 Fixed Interest In Arrears 128250 128160.61 777039205 19672575 Arm Interest Only 498700 498700 777039218 19671395 Fixed Interest Only 114700 114700 777039221 19670454 Arm Interest Only 128250 128250 777039260 22117170 Fixed Interest In Arrears 278910 278910 777039274 19671494 Fixed Interest In Arrears 208000 208000 777039275 22117832 Fixed Interest In Arrears 106000 106000 777039278 19674126 Fixed Interest Only 416000 416000 777039281 19671247 Fixed Interest In Arrears 130625 130625 777039295 22117618 Fixed Interest Only 112950 112950 777039303 19674076 Fixed Interest In Arrears 230000 229801.97 777039313 22117493 Fixed Interest Only 144000 144000 777039314 19673557 Fixed Interest Only 125200 125200 777039315 19671593 Arm Interest Only 135750 135750 777039316 22117428 Arm Interest In Arrears 352100 351832.08 777039319 22118137 Fixed Interest Only 331540 331540 777039323 19675867 Arm Interest Only 1500000 1500000 777039329 22118400 Fixed Interest In Arrears 760000 759392.24 777039333 19643667 Arm Interest Only 500000 500000 777039336 19672450 Fixed Interest Only 268250 268250 777039338 19672476 Fixed Interest Only 268250 268250 777039339 22117857 Fixed Interest Only 594000 593999.99 777039345 19672690 Arm Interest In Arrears 482100 481751.07 777039349 19672732 Arm Interest In Arrears 385000 385000 777039359 22118293 Fixed Interest Only 345628 345628 777039364 19671957 Fixed Interest In Arrears 107900 107900 777039366 22117717 Arm Interest In Arrears 158100 157972.01 777039371 22117865 Arm Interest Only 275000 275000 777039388 22117303 Arm Interest Only 289000 289000 777039395 22117246 Arm Interest Only 413250 413250 777039396 22117162 Fixed Interest In Arrears 200000 199700.64 777039410 19673706 Fixed Interest In Arrears 408000 407665.56 777039419 22118004 Fixed Interest Only 163000 163000 777039420 19670595 Arm Interest In Arrears 292500 292500 777039426 19673318 Fixed Interest Only 148900 148900 777039430 19672864 Fixed Interest Only 170000 170000 777039434 19672534 Fixed Interest Only 202500 202500 777039439 19671197 Fixed Interest In Arrears 308610 308610 777039446 19672963 Fixed Interest Only 543600 543600 777039455 22117360 Fixed Interest In Arrears 84000 84000 777039457 19673441 Arm Interest Only 129150 129150 777039458 19671643 Fixed Interest In Arrears 150400 150400 777039489 22117501 Fixed Interest In Arrears 75000 74941.5 777039491 22117592 Fixed Interest Only 227050 227050 777039494 22117782 Arm Interest Only 2000000 2000000 777039503 19672997 Fixed Interest In Arrears 69250 69250 777039521 19672674 Fixed Interest Only 138700 138700 777039524 19673680 Fixed Interest Only 211450 211450 777039536 19671734 Arm Interest In Arrears 366700 366700 777039542 19674175 Arm Interest Only 249400 249400 777039547 19672526 Fixed Interest In Arrears 270750 270750 777039550 19672138 Fixed Interest Only 148000 148000 777039551 19671205 Fixed Interest In Arrears 68000 68000 777039552 19672302 Fixed Interest Only 112400 112400 777039553 19672310 Fixed Interest Only 112400 112400 777039562 22117683 Fixed Interest Only 513000 513000 777039586 22117790 Fixed Interest In Arrears 520000 520000 777039593 19672807 Arm Interest Only 457600 457600 777039604 19670876 Fixed Interest In Arrears 195210 195210 777039607 19673375 Fixed Interest In Arrears 605700 605700 777039611 19671718 Fixed Interest In Arrears 53500 53500 777039615 19674415 Fixed Interest Only 150000 150000 777039622 22117485 Arm Interest In Arrears 425750 425750 777039623 22117204 Arm Interest Only 360000 360000 777039625 19672542 Arm Interest In Arrears 162000 161863.91 777039637 19672625 Fixed Interest Only 433100 433100 777039646 19672385 Arm Interest Only 675000 675000 777039660 19671551 Arm Interest Only 185250 185250 777039663 19643360 Arm Interest In Arrears 174905 174905 777039675 19673177 Fixed Interest Only 275500 275500 777039685 19673268 Arm Interest In Arrears 1730000 1730000 777039699 19671536 Arm Interest In Arrears 218400 218400 777039703 19672799 Fixed Interest Only 130300 130300 777039704 19672823 Fixed Interest Only 274450 274450 777039714 19673029 Arm Interest In Arrears 362000 362000 777039718 22118558 Fixed Interest Only 580500 580500 777039720 22118467 Arm Interest Only 300000 300000 777039763 19672815 Arm Interest Only 245100 245100 777039769 19642404 Arm Interest Only 377000 377000 777039770 19671015 Arm Interest In Arrears 281000 281000 777039775 19672377 Arm Interest Only 153000 153000 777039780 19672153 Arm Interest Only 307500 307500 777039782 22118244 Arm Interest In Arrears 675000 675000 777039784 19670975 Fixed Interest In Arrears 635000 635000 777039790 19672286 Fixed Interest In Arrears 105900 105836.66 777039803 22117824 Fixed Interest In Arrears 154000 153619.08 777039805 22118756 Arm Interest Only 144800 144800 777039823 22117287 Arm Interest Only 530000 530000 777039833 19643576 Fixed Interest In Arrears 370000 370000 777039838 19672260 Fixed Interest Only 237500 237500 777039851 19673169 Arm Interest Only 151500 151500 777039859 19671841 Arm Interest Only 246950 246950 777039861 19671999 Arm Interest Only 254315 254315 777039862 19670405 Fixed Interest Only 242250 242250 777039865 19670611 Fixed Interest In Arrears 192000 192000 777039869 19671692 Fixed Interest In Arrears 180000 180000 777039873 22117899 Fixed Interest Only 743500 743500 777039875 19642446 Fixed Interest In Arrears 175000 175000 777039881 19670702 Fixed Interest In Arrears 68000 68000 777039882 19674670 Fixed Interest In Arrears 51200 51161.04 777039883 19670728 Arm 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Fixed Interest In Arrears 241500 241500 777040487 19670934 Arm Interest In Arrears 266000 266000 777040551 19670967 Arm Interest In Arrears 183750 183750 777040554 19670132 Arm Interest In Arrears 418500 418500 777040557 19669944 Fixed Interest Only 495000 495000 777040577 19670140 Arm Interest In Arrears 387900 387900 777040578 19671379 Arm Interest In Arrears 712300 712300 777040593 19670306 Arm Interest Only 308700 308700 777040596 19670280 Arm Interest Only 308700 308700 777040603 19670892 Arm Interest In Arrears 380000 380000 777040635 19642701 Arm Interest Only 1300000 1300000 777040639 19670686 Arm Interest Only 2000000 2000000 777040643 19670652 Arm Interest Only 414000 414000 777040649 19670769 Arm Interest Only 294350 294350 777040658 19670512 Fixed Interest In Arrears 227000 227000 777040662 19677103 Fixed Interest In Arrears 99000 99000 777040663 19670488 Fixed Interest In Arrears 237000 237000 777040671 22118764 Arm Interest Only 970000 970000 777040676 19670124 Arm 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538.62 538.62 7/23/2007 9/1/2007 777039521 7.7715 982.34 982.34 7/24/2007 9/1/2007 777039524 7.2895 1354.51 1354.5 7/17/2007 9/1/2007 777039536 6.6185 2835.47 2835.47 7/31/2007 10/1/2007 777039542 6.0375 1402.88 1402.88 7/17/2007 9/1/2007 777039547 8.6395 2215.04 2215.04 7/30/2007 9/1/2007 777039550 6.8675 878.75 878.75 7/26/2007 9/1/2007 777039551 8.3675 528.9 528.9 8/10/2007 10/1/2007 777039552 8.3845 825.39 825.39 7/27/2007 9/1/2007 777039553 8.1245 825.39 825.39 7/27/2007 9/1/2007 777039562 7.9525 3740.63 3740.63 7/16/2007 9/1/2007 777039586 8.3675 4044.51 4044.51 7/16/2007 9/1/2007 777039593 6.2425 2526.33 2526.33 7/21/2007 9/1/2007 777039604 8.6945 1614.72 1614.72 8/10/2007 10/1/2007 777039607 7.6175 4391.75 4391.75 8/1/2007 9/1/2007 777039611 6.9925 364.96 364.96 7/31/2007 9/1/2007 777039615 6.8675 890.63 890.63 7/10/2007 9/1/2007 777039622 8.1175 3273.65 3273.65 7/18/2007 9/1/2007 777039623 6.3375 2475 2475 7/6/2007 9/1/2007 777039625 5.9225 1064.22 1064.22 7/24/2007 9/1/2007 777039637 8.2425 3067.79 3067.79 7/26/2007 9/1/2007 777039646 6.7105 4147.31 4147.31 7/25/2007 9/1/2007 777039660 6.4865 1196.25 1196.25 8/1/2007 10/1/2007 777039663 6.7425 1178.37 1178.37 8/13/2007 10/1/2007 777039675 8.4195 2166.58 2166.58 7/18/2007 8/1/2007 777039685 5.9925 10792.95 10792.95 7/18/2007 9/1/2007 777039699 6.4925 1434.73 1434.73 8/2/2007 10/1/2007 777039703 6.9995 834.68 834.68 7/25/2007 9/1/2007 777039704 8.0985 2215.27 2215.27 7/23/2007 8/1/2007 777039714 6.6865 2655.98 2655.98 7/20/2007 9/1/2007 777039718 8.6175 4293.28 4293.28 8/3/2007 9/1/2007 777039720 6.4925 1718.75 1718.75 8/3/2007 10/1/2007 777039763 6.8365 1633.8 1633.8 7/20/2007 9/1/2007 777039769 6.2425 2081.35 2081.35 8/13/2007 10/1/2007 777039770 6.9945 2049.55 2049.55 8/13/2007 10/1/2007 777039775 5.9795 836.65 836.65 7/25/2007 9/1/2007 777039780 5.9925 1633.59 1633.59 7/26/2007 9/1/2007 777039782 6.6175 4490.79 4490.79 7/27/2007 10/1/2007 777039784 7.3775 4714.86 4714.86 8/8/2007 10/1/2007 777039790 8.0545 818.94 818.94 7/26/2007 9/1/2007 777039803 6.7425 1024.57 1024.57 4/19/2007 6/1/2007 777039805 6.2425 799.42 799.42 7/11/2007 9/1/2007 777039823 5.9925 2815.63 2815.63 5/24/2007 7/1/2007 777039833 6.3675 2369.15 2369.15 8/27/2007 10/1/2007 777039838 7.5095 1669.82 1669.82 7/26/2007 9/1/2007 777039851 7.6245 1065.17 1065.17 7/20/2007 9/1/2007 777039859 7.1795 1607.64 1607.64 7/30/2007 9/1/2007 777039861 7.4815 1774.69 1774.69 7/30/2007 9/1/2007 777039862 8.5195 1905.09 1905.09 8/16/2007 10/1/2007 777039865 6.7425 1350.65 1350.65 8/29/2007 10/1/2007 777039869 8.7495 1505.27 1505.27 7/31/2007 9/1/2007 777039873 8.6175 5498.8 5498.8 7/23/2007 9/1/2007 777039875 6.2425 1106.12 1106.12 8/23/2007 10/1/2007 777039881 7.6175 493.05 493.05 8/13/2007 10/1/2007 777039882 7.1175 353.63 353.63 7/6/2007 9/1/2007 777039883 6.6815 3234.14 3234.14 8/14/2007 10/1/2007 777039889 6.1175 2870.83 2870.83 8/22/2007 10/1/2007 777039896 8.0695 1255.34 1255.34 8/8/2007 10/1/2007 777039898 8.6175 1038.38 1038.38 7/27/2007 9/1/2007 777039899 8.6165 1709.82 1709.82 7/23/2007 9/1/2007 777039907 7.6175 819 819 8/2/2007 10/1/2007 777039919 6.7425 997.5 997.5 8/9/2007 10/1/2007 777039925 7.0725 2067.19 2067.19 7/24/2007 9/1/2007 777039927 5.8675 1424.06 1424.06 12/6/2006 2/1/2007 777039932 8.3675 490.91 490.91 7/24/2007 9/1/2007 777039944 8.7165 742.69 742.69 8/10/2007 10/1/2007 777039952 8.2425 1695.45 1695.45 7/27/2007 9/1/2007 777039956 6.4925 2443.78 2443.78 7/31/2007 10/1/2007 777039969 6.6175 1796.67 1796.67 8/6/2007 10/1/2007 777039986 6.6345 3073.2 3073.2 7/26/2007 9/1/2007 777039995 5.9925 3665.63 3665.63 8/3/2007 10/1/2007 777040009 7.0925 2325.42 2325.42 7/26/2007 9/1/2007 777040010 6.1175 2022.62 2022.62 8/4/2007 10/1/2007 777040011 6.1175 2370.26 2370.26 8/13/2007 10/1/2007 777040024 7.4925 1763.13 1763.13 8/15/2007 10/1/2007 777040028 6.3795 2342.23 2342.23 7/30/2007 9/1/2007 777040033 7.4925 6693.75 6693.75 7/24/2007 9/1/2007 777040037 7.6175 1706.25 1706.25 7/30/2007 10/1/2007 777040044 6.2425 997.28 997.28 7/12/2007 9/1/2007 777040046 6.8675 3132.79 3132.79 7/11/2007 9/1/2007 777040047 7.6175 1646.28 1646.28 8/8/2007 10/1/2007 777040051 8.6795 1383.79 1383.06 7/27/2007 9/1/2007 777040054 6.9925 1023.26 1023.26 8/10/2007 10/1/2007 777040059 5.7425 3317.71 3317.71 7/19/2007 9/1/2007 777040073 7.2425 1566.24 1566.24 8/1/2007 10/1/2007 777040074 6.9315 738.85 738.85 8/1/2007 10/1/2007 777040082 6.9925 1047.14 1047.14 7/26/2007 9/1/2007 777040083 7.9245 2796.85 2796.85 8/3/2007 10/1/2007 777040090 7.4925 1880.67 1880.67 7/30/2007 9/1/2007 777040092 7.4925 5874.58 5874.58 8/11/2007 10/1/2007 777040097 6.1175 1083.34 1083.34 8/3/2007 10/1/2007 777040102 7.3675 2760.4 2760.4 7/30/2007 10/1/2007 777040103 7.2425 1957.45 1957.45 7/31/2007 9/1/2007 777040105 6.3445 3719.97 3719.97 7/26/2007 9/1/2007 777040118 5.8675 6203.12 6203.12 7/26/2007 9/1/2007 777040123 6.1175 2166.67 2166.67 7/30/2007 9/1/2007 777040126 8.6645 951.51 951.51 8/6/2007 10/1/2007 777040133 6.4925 1798.96 1798.96 7/25/2007 9/1/2007 777040135 8.2255 6756.38 6756.38 8/3/2007 10/1/2007 777040137 6.1175 1444.9 1444.9 7/25/2007 9/1/2007 777040138 8.3675 665.01 665.01 8/17/2007 10/1/2007 777040139 6.2425 1739.06 1739.06 7/25/2007 9/1/2007 777040145 6.2425 645.11 645.11 8/24/2007 10/1/2007 777040146 7.2195 916.35 916.34 8/8/2007 10/1/2007 777040147 7.2195 1033.7 1033.7 8/9/2007 10/1/2007 777040152 6.4925 6569.28 6569.28 8/1/2007 10/1/2007 777040158 8.1175 2747.33 2747.33 8/13/2007 10/1/2007 777040161 8.3675 778.82 778.82 8/29/2007 10/1/2007 777040169 7.4925 358.21 358.21 7/31/2007 9/1/2007 777040174 7.4925 358.21 358.21 7/31/2007 9/1/2007 777040178 7.4575 1670.63 1670.63 8/6/2007 10/1/2007 777040191 6.5115 1815.85 1815.85 8/16/2007 10/1/2007 777040196 7.7995 1115.09 1115.09 8/8/2007 10/1/2007 777040200 6.3675 6187.5 6187.5 8/3/2007 10/1/2007 777040201 7.6175 690.27 690.27 8/3/2007 10/1/2007 777040202 5.4925 1409.76 1409.76 8/1/2007 10/1/2007 777040205 8.7165 1940.03 1940.03 8/10/2007 10/1/2007 777040222 6.9925 453.65 453.65 7/31/2007 9/1/2007 777040229 6.6175 1422.25 1422.25 7/5/2007 9/1/2007 777040240 8.1175 1480.42 1480.42 8/10/2007 10/1/2007 777040241 7.1145 4698.68 4698.68 8/10/2007 10/1/2007 777040261 7.9095 1698.03 1698.03 8/7/2007 10/1/2007 777040269 8.1175 1140.11 1140.11 7/19/2007 9/1/2007 777040278 8.3675 3204.49 3204.49 4/13/2007 6/1/2007 777040297 8.9295 1035.32 1035.32 8/3/2007 10/1/2007 777040299 7.2425 2287.5 2287.5 7/20/2007 9/1/2007 777040352 5.8675 2062.5 2062.5 8/31/2007 10/1/2007 777040354 8.6345 767.63 767.63 8/2/2007 10/1/2007 777040356 6.8675 1510.42 1510.42 7/25/2007 9/1/2007 777040357 6.4925 2898.96 2898.96 8/1/2007 10/1/2007 777040365 6.7425 4286.88 4286.88 7/31/2007 9/1/2007 777040370 8.5395 1679.04 1679.02 8/21/2007 10/1/2007 777040394 6.4925 5619.74 5619.74 7/31/2007 10/1/2007 777040398 7.1245 2231.9 2231.9 8/16/2007 10/1/2007 777040399 7.2425 1342.49 1342.49 8/2/2007 10/1/2007 777040406 8.6165 3799.98 3799.98 8/14/2007 10/1/2007 777040407 8.6765 3799.98 3799.98 8/14/2007 10/1/2007 777040413 6.1175 2528.27 2528.27 8/11/2007 10/1/2007 777040429 7.5675 2888.31 2888.31 8/3/2007 10/1/2007 777040430 5.4925 572.81 572.81 7/31/2007 9/1/2007 777040434 6.6685 1255.06 1255.06 8/3/2007 9/1/2007 777040443 8.3675 730.97 730.97 7/25/2007 9/1/2007 777040448 7.4925 1447.96 1447.96 8/29/2007 10/1/2007 777040449 5.9925 2921.88 2921.88 8/8/2007 10/1/2007 777040478 6.2425 993.2 993.2 7/31/2007 9/1/2007 777040482 6.2425 1435.42 1435.42 7/26/2007 9/1/2007 777040484 7.0515 1570.86 1570.86 8/7/2007 10/1/2007 777040485 6.9925 1647.46 1647.46 8/24/2007 10/1/2007 777040487 7.1595 2009.98 2009.98 8/8/2007 10/1/2007 777040551 7.1175 1284.81 1284.81 8/8/2007 10/1/2007 777040554 7.8675 3144.05 3144.05 8/24/2007 10/1/2007 777040557 8.3675 3789.23 3789.23 9/4/2007 11/1/2007 777040577 6.3675 2846.27 2846.27 8/23/2007 10/1/2007 777040578 8.1175 5476.97 5476.97 8/6/2007 10/1/2007 777040593 7.9945 2299.04 2299.04 8/21/2007 10/1/2007 777040596 8.3045 2299.04 2299.04 8/21/2007 10/1/2007 777040603 7.9525 3023.45 3023.45 8/8/2007 10/1/2007 777040635 6.3675 7312.5 7312.5 8/10/2007 10/1/2007 777040639 6.4925 11458.33 11458.33 8/14/2007 10/1/2007 777040643 6.2425 2285.62 2285.62 8/13/2007 10/1/2007 777040649 8.3045 2192.17 2192.17 8/15/2007 10/1/2007 777040658 7.8675 1685.47 1685.47 8/16/2007 10/1/2007 777040662 7.9925 743.75 743.75 8/9/2007 10/1/2007 777040663 6.9925 1516.02 1516.02 8/15/2007 10/1/2007 777040671 6.7425 5759.38 5759.38 7/30/2007 9/1/2007 777040676 6.9525 1687.24 1687.24 8/24/2007 10/1/2007 777040677 6.3675 384.19 384.19 8/16/2007 10/1/2007 777040693 6.8675 7159.38 7159.38 8/16/2007 10/1/2007 777040694 8.3675 14367.81 14367.81 8/23/2007 10/1/2007 777040705 5.9925 2881.56 2881.56 8/16/2007 10/1/2007 777040708 6.7425 540.56 540.56 8/17/2007 10/1/2007 777040723 6.7425 436.77 436.77 8/17/2007 10/1/2007 777040752 8.6695 629.54 629.54 8/22/2007 10/1/2007 777040753 8.7895 629.54 629.54 8/22/2007 10/1/2007 777040761 7.4925 4854.41 4854.41 8/27/2007 10/1/2007 777040767 6.9925 1432.57 1432.57 8/27/2007 10/1/2007 777040776 5.9925 1875.31 1875.31 8/27/2007 10/1/2007 777040779 9.7425 1844.59 1844.59 8/29/2007 10/1/2007 777040790 6.4925 1604.17 1604.17 6/28/2007 8/1/2007 777040819 6.3675 1147.5 1147.5 7/27/2007 9/1/2007 777040820 6.3675 1300.5 1300.5 7/24/2007 9/1/2007 777040843 5.9925 1792.97 1792.97 7/10/2007 9/1/2007 777040918 5.9925 1083.75 1083.75 8/30/2007 10/1/2007 777041008 6.1175 7174.5 7174.5 9/14/2007 11/1/2007 UBS Loan ID Maturity Date As of Date Loan Age Original Term Remaining Term (Stated) --------------------------------------------------------------------------------------------------------------------- 334405839 2/1/2036 9/1/2007 19 360 341 334532900 11/1/2036 9/1/2007 10 360 350 334532908 11/1/2036 9/1/2007 10 360 350 334532949 11/1/2036 9/1/2007 10 360 350 334655990 10/1/2036 9/1/2007 11 360 349 334659518 12/1/2036 9/1/2007 9 360 351 334659541 12/1/2036 9/1/2007 9 360 351 334688853 11/1/2036 9/1/2007 10 360 350 334720548 11/1/2035 9/1/2007 22 360 338 334720549 6/1/2036 9/1/2007 15 360 345 334738020 1/1/2037 9/1/2007 8 360 352 334738165 1/1/2037 9/1/2007 8 360 352 334740598 12/1/2036 9/1/2007 9 360 351 334740620 1/1/2037 9/1/2007 8 360 352 334756494 1/1/2037 9/1/2007 8 360 352 334756551 12/1/2036 9/1/2007 9 360 351 334921808 12/1/2036 9/1/2007 9 360 351 335664299 6/1/2037 9/1/2007 3 360 357 335664300 6/1/2037 9/1/2007 3 360 357 335664305 6/1/2037 9/1/2007 3 360 357 335664316 6/1/2037 9/1/2007 3 360 357 335664354 6/1/2037 9/1/2007 3 360 357 335664362 6/1/2037 9/1/2007 3 360 357 335664376 6/1/2037 9/1/2007 3 360 357 335664377 6/1/2037 9/1/2007 3 360 357 335664379 6/1/2037 9/1/2007 3 360 357 335664387 6/1/2037 9/1/2007 3 360 357 335664390 6/1/2037 9/1/2007 3 360 357 335664393 6/1/2037 9/1/2007 3 360 357 335736334 7/1/2036 9/1/2007 14 360 346 335736335 8/1/2036 9/1/2007 13 360 347 335736339 9/1/2036 9/1/2007 12 360 348 335736340 10/1/2036 9/1/2007 11 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777039524 8/1/2037 9/1/2007 1 360 359 777039536 9/1/2037 9/1/2007 0 360 360 777039542 8/1/2037 9/1/2007 1 360 359 777039547 8/1/2037 9/1/2007 1 360 359 777039550 8/1/2037 9/1/2007 1 360 359 777039551 9/1/2037 9/1/2007 0 360 360 777039552 8/1/2037 9/1/2007 1 360 359 777039553 8/1/2037 9/1/2007 1 360 359 777039562 8/1/2037 9/1/2007 1 360 359 777039586 8/1/2037 9/1/2007 1 360 359 777039593 8/1/2037 9/1/2007 1 360 359 777039604 9/1/2037 9/1/2007 0 360 360 777039607 8/1/2037 9/1/2007 1 360 359 777039611 8/1/2037 9/1/2007 1 360 359 777039615 8/1/2037 9/1/2007 1 360 359 777039622 8/1/2037 9/1/2007 1 360 359 777039623 8/1/2037 9/1/2007 1 360 359 777039625 8/1/2037 9/1/2007 1 360 359 777039637 8/1/2037 9/1/2007 1 360 359 777039646 8/1/2037 9/1/2007 1 360 359 777039660 9/1/2037 9/1/2007 0 360 360 777039663 9/1/2037 9/1/2007 0 360 360 777039675 7/1/2037 9/1/2007 2 360 358 777039685 8/1/2037 9/1/2007 1 360 359 777039699 9/1/2037 9/1/2007 0 360 360 777039703 8/1/2037 9/1/2007 1 360 359 777039704 7/1/2037 9/1/2007 2 360 358 777039714 8/1/2037 9/1/2007 1 360 359 777039718 8/1/2037 9/1/2007 1 360 359 777039720 9/1/2037 9/1/2007 0 360 360 777039763 8/1/2037 9/1/2007 1 360 359 777039769 9/1/2037 9/1/2007 0 360 360 777039770 9/1/2037 9/1/2007 0 360 360 777039775 8/1/2037 9/1/2007 1 360 359 777039780 8/1/2037 9/1/2007 1 360 359 777039782 9/1/2037 9/1/2007 0 360 360 777039784 9/1/2037 9/1/2007 0 360 360 777039790 8/1/2037 9/1/2007 1 360 359 777039803 5/1/2037 9/1/2007 4 360 356 777039805 8/1/2037 9/1/2007 1 360 359 777039823 6/1/2037 9/1/2007 3 360 357 777039833 9/1/2037 9/1/2007 0 360 360 777039838 8/1/2037 9/1/2007 1 360 359 777039851 8/1/2037 9/1/2007 1 360 359 777039859 8/1/2037 9/1/2007 1 360 359 777039861 8/1/2037 9/1/2007 1 360 359 777039862 9/1/2037 9/1/2007 0 360 360 777039865 9/1/2037 9/1/2007 0 360 360 777039869 8/1/2037 9/1/2007 1 360 359 777039873 8/1/2037 9/1/2007 1 360 359 777039875 9/1/2037 9/1/2007 0 360 360 777039881 9/1/2037 9/1/2007 0 360 360 777039882 8/1/2037 9/1/2007 1 360 359 777039883 9/1/2037 9/1/2007 0 360 360 777039889 9/1/2037 9/1/2007 0 360 360 777039896 9/1/2037 9/1/2007 0 360 360 777039898 8/1/2037 9/1/2007 1 360 359 777039899 8/1/2037 9/1/2007 1 360 359 777039907 9/1/2037 9/1/2007 0 360 360 777039919 9/1/2037 9/1/2007 0 360 360 777039925 8/1/2037 9/1/2007 1 360 359 777039927 1/1/2037 9/1/2007 8 360 352 777039932 8/1/2037 9/1/2007 1 360 359 777039944 9/1/2037 9/1/2007 0 360 360 777039952 8/1/2037 9/1/2007 1 360 359 777039956 9/1/2037 9/1/2007 0 360 360 777039969 9/1/2037 9/1/2007 0 360 360 777039986 8/1/2037 9/1/2007 1 360 359 777039995 9/1/2037 9/1/2007 0 360 360 777040009 8/1/2037 9/1/2007 1 360 359 777040010 9/1/2037 9/1/2007 0 360 360 777040011 9/1/2037 9/1/2007 0 360 360 777040024 9/1/2037 9/1/2007 0 360 360 777040028 8/1/2037 9/1/2007 1 360 359 777040033 8/1/2037 9/1/2007 1 360 359 777040037 9/1/2037 9/1/2007 0 360 360 777040044 8/1/2037 9/1/2007 1 360 359 777040046 8/1/2037 9/1/2007 1 360 359 777040047 9/1/2047 9/1/2007 0 480 480 777040051 8/1/2037 9/1/2007 1 360 359 777040054 9/1/2037 9/1/2007 0 360 360 777040059 8/1/2037 9/1/2007 1 360 359 777040073 9/1/2037 9/1/2007 0 360 360 777040074 9/1/2037 9/1/2007 0 360 360 777040082 8/1/2037 9/1/2007 1 360 359 777040083 9/1/2037 9/1/2007 0 360 360 777040090 8/1/2037 9/1/2007 1 360 359 777040092 9/1/2037 9/1/2007 0 360 360 777040097 9/1/2037 9/1/2007 0 360 360 777040102 9/1/2037 9/1/2007 0 360 360 777040103 8/1/2037 9/1/2007 1 360 359 777040105 8/1/2037 9/1/2007 1 360 359 777040118 8/1/2037 9/1/2007 1 360 359 777040123 8/1/2037 9/1/2007 1 360 359 777040126 9/1/2037 9/1/2007 0 360 360 777040133 8/1/2037 9/1/2007 1 360 359 777040135 9/1/2037 9/1/2007 0 360 360 777040137 8/1/2037 9/1/2007 1 360 359 777040138 9/1/2037 9/1/2007 0 360 360 777040139 8/1/2037 9/1/2007 1 360 359 777040145 9/1/2037 9/1/2007 0 360 360 777040146 9/1/2037 9/1/2007 0 360 360 777040147 9/1/2037 9/1/2007 0 360 360 777040152 9/1/2037 9/1/2007 0 360 360 777040158 9/1/2037 9/1/2007 0 360 360 777040161 9/1/2037 9/1/2007 0 360 360 777040169 8/1/2037 9/1/2007 1 360 359 777040174 8/1/2037 9/1/2007 1 360 359 777040178 9/1/2037 9/1/2007 0 360 360 777040191 9/1/2037 9/1/2007 0 360 360 777040196 9/1/2037 9/1/2007 0 360 360 777040200 9/1/2037 9/1/2007 0 360 360 777040201 9/1/2037 9/1/2007 0 360 360 777040202 9/1/2037 9/1/2007 0 360 360 777040205 9/1/2037 9/1/2007 0 360 360 777040222 8/1/2037 9/1/2007 1 360 359 777040229 8/1/2037 9/1/2007 1 360 359 777040240 9/1/2037 9/1/2007 0 360 360 777040241 9/1/2037 9/1/2007 0 360 360 777040261 9/1/2037 9/1/2007 0 360 360 777040269 8/1/2037 9/1/2007 1 360 359 777040278 5/1/2037 9/1/2007 4 360 356 777040297 9/1/2037 9/1/2007 0 360 360 777040299 8/1/2037 9/1/2007 1 360 359 777040352 9/1/2037 9/1/2007 0 360 360 777040354 9/1/2037 9/1/2007 0 360 360 777040356 8/1/2037 9/1/2007 1 360 359 777040357 9/1/2037 9/1/2007 0 360 360 777040365 8/1/2037 9/1/2007 1 360 359 777040370 9/1/2037 9/1/2007 0 360 360 777040394 9/1/2037 9/1/2007 0 360 360 777040398 9/1/2037 9/1/2007 0 360 360 777040399 9/1/2037 9/1/2007 0 360 360 777040406 9/1/2037 9/1/2007 0 360 360 777040407 9/1/2037 9/1/2007 0 360 360 777040413 9/1/2037 9/1/2007 0 360 360 777040429 9/1/2037 9/1/2007 0 360 360 777040430 8/1/2037 9/1/2007 1 360 359 777040434 8/1/2037 9/1/2007 1 360 359 777040443 8/1/2037 9/1/2007 1 360 359 777040448 9/1/2037 9/1/2007 0 360 360 777040449 9/1/2037 9/1/2007 0 360 360 777040478 8/1/2037 9/1/2007 1 360 359 777040482 8/1/2037 9/1/2007 1 360 359 777040484 9/1/2037 9/1/2007 0 360 360 777040485 9/1/2037 9/1/2007 0 360 360 777040487 9/1/2037 9/1/2007 0 360 360 777040551 9/1/2037 9/1/2007 0 360 360 777040554 9/1/2037 9/1/2007 0 360 360 777040557 10/1/2037 9/1/2007 0 360 360 777040577 9/1/2037 9/1/2007 0 360 360 777040578 9/1/2037 9/1/2007 0 360 360 777040593 9/1/2037 9/1/2007 0 360 360 777040596 9/1/2037 9/1/2007 0 360 360 777040603 9/1/2037 9/1/2007 0 360 360 777040635 9/1/2037 9/1/2007 0 360 360 777040639 9/1/2037 9/1/2007 0 360 360 777040643 9/1/2037 9/1/2007 0 360 360 777040649 9/1/2037 9/1/2007 0 360 360 777040658 9/1/2037 9/1/2007 0 360 360 777040662 9/1/2037 9/1/2007 0 360 360 777040663 9/1/2047 9/1/2007 0 480 480 777040671 8/1/2037 9/1/2007 1 360 359 777040676 9/1/2037 9/1/2007 0 360 360 777040677 9/1/2037 9/1/2007 0 360 360 777040693 9/1/2037 9/1/2007 0 360 360 777040694 9/1/2037 9/1/2007 0 360 360 777040705 9/1/2037 9/1/2007 0 360 360 777040708 9/1/2037 9/1/2007 0 360 360 777040723 9/1/2037 9/1/2007 0 360 360 777040752 9/1/2037 9/1/2007 0 360 360 777040753 9/1/2037 9/1/2007 0 360 360 777040761 9/1/2037 9/1/2007 0 360 360 777040767 9/1/2037 9/1/2007 0 360 360 777040776 9/1/2037 9/1/2007 0 360 360 777040779 9/1/2037 9/1/2007 0 360 360 777040790 7/1/2037 9/1/2007 2 360 358 777040819 8/1/2037 9/1/2007 1 360 359 777040820 8/1/2037 9/1/2007 1 360 359 777040843 8/1/2037 9/1/2007 1 360 359 777040918 9/1/2037 9/1/2007 0 360 360 777041008 10/1/2037 9/1/2007 0 360 360 UBS Loan ID Original Prepay Assumable Balloon Flag Original Index Amort Term Original Term ----------------------------------------------------------------------------------------------------------------------------------- 334405839 360 0 Non-Assumable Not a Balloon Loan 334532900 240 0 Not a Balloon Loan 334532908 360 0 Not a Balloon Loan 334532949 240 24 Not a Balloon Loan 334655990 360 12 Not a Balloon Loan 334659518 240 36 Not a Balloon Loan 334659541 480 12 Balloon Loan 334688853 240 36 Not a Balloon Loan 334720548 360 0 Non-Assumable Not a Balloon Loan 334720549 276 0 Non-Assumable Not a Balloon Loan 334738020 300 24 Not a Balloon Loan 334738165 360 24 Not a Balloon Loan 334740598 240 24 Not a Balloon Loan 334740620 240 0 Not a Balloon Loan 334756494 240 36 Not a Balloon Loan 334756551 240 36 Not a Balloon Loan 334921808 240 36 Not a Balloon Loan 335664299 360 0 Not a Balloon Loan 335664300 360 0 Not a Balloon Loan 335664305 360 0 Not a Balloon Loan 335664316 360 0 Not a Balloon Loan 335664354 240 0 Not a Balloon Loan 335664362 240 0 Not a Balloon Loan 335664376 240 0 Not a Balloon Loan 335664377 240 0 Not a Balloon Loan 335664379 240 0 Not a Balloon Loan 335664387 240 0 Not a Balloon Loan 335664390 240 0 Not a Balloon Loan 335664393 240 0 Not a Balloon Loan 335736334 360 0 Not a Balloon Loan 335736335 480 0 Balloon Loan 335736339 360 0 Non-Assumable Not a Balloon Loan 335736340 360 0 Non-Assumable Not a Balloon Loan 335736342 360 0 Non-Assumable Not a Balloon Loan 335736344 240 0 Non-Assumable Not a Balloon Loan 335736361 360 0 Assumable Not a Balloon Loan 335751199 360 0 Not a Balloon Loan 335751203 360 0 Not a Balloon Loan 335751204 360 0 Not a Balloon Loan 335751227 240 0 Not a Balloon Loan 335847961 360 0 Non-Assumable Not a Balloon Loan 335847965 240 36 Not a Balloon Loan 335847968 360 0 Assumable Not a Balloon Loan 777005164 360 0 Non-Assumable Not a Balloon Loan 777008436 360 0 Non-Assumable Not a Balloon Loan 777008553 360 24 Non-Assumable Not a Balloon Loan 777008555 360 60 Assumable Not a Balloon Loan 777008649 240 24 Assumable Not a Balloon Loan 777010295 360 0 Non-Assumable Not a Balloon Loan 777010304 360 0 Assumable Not a Balloon Loan 777010306 360 0 Assumable Not a Balloon Loan 777010315 360 0 Non-Assumable Not a Balloon Loan 777011692 240 0 Non-Assumable Not a Balloon Loan 777017938 240 0 Non-Assumable Not a Balloon Loan 777018098 360 0 Non-Assumable Not a Balloon Loan 777018345 360 60 Non-Assumable Not a Balloon Loan 777019969 240 0 Assumable Not a Balloon Loan 777022040 360 0 Not a Balloon Loan 777022104 360 0 Non-Assumable Not a Balloon Loan 777022731 360 0 Non-Assumable Not a Balloon Loan 777022867 360 60 Non-Assumable Not a Balloon Loan 777022899 240 0 Non-Assumable Not a Balloon Loan 777023524 360 0 Non-Assumable Not a Balloon Loan 777024142 360 0 Non-Assumable Not a Balloon Loan 777024145 360 0 Non-Assumable Not a Balloon Loan 777024357 360 60 Non-Assumable Not a Balloon Loan 777024375 240 0 Non-Assumable Not a Balloon Loan 777024623 360 0 Non-Assumable Not a Balloon Loan 777024877 360 0 Non-Assumable Not a Balloon Loan 777024948 240 0 Non-Assumable Not a Balloon Loan 777025030 360 0 Non-Assumable Not a Balloon Loan 777025382 360 0 Non-Assumable Not a Balloon Loan 777025988 360 0 Non-Assumable Not a Balloon Loan 777026173 360 0 Non-Assumable Not a Balloon Loan 777026199 360 0 Non-Assumable Not a Balloon Loan 777026269 240 0 Assumable Not a Balloon Loan 777026273 240 0 Assumable Not a Balloon Loan 777026468 360 0 Non-Assumable Not a Balloon Loan 777026595 360 0 Non-Assumable Not a Balloon Loan 777026750 240 0 Non-Assumable Not a Balloon Loan 777026765 360 0 Non-Assumable Not a Balloon Loan 777027150 360 0 Non-Assumable Not a Balloon Loan 777027202 360 0 Non-Assumable Not a Balloon Loan 777027266 360 0 Non-Assumable Not a Balloon Loan 777027293 360 0 Non-Assumable Not a Balloon Loan 777027474 240 60 Non-Assumable Not a Balloon Loan 777027538 360 0 Non-Assumable Not a Balloon Loan 777027649 360 0 Non-Assumable Not a Balloon Loan 777027783 360 60 Non-Assumable Not a Balloon Loan 777028136 360 0 Non-Assumable Not a Balloon Loan 777028237 240 0 Assumable Not a Balloon Loan 777028498 360 36 Non-Assumable Not a Balloon Loan 777028656 240 36 Non-Assumable Not a Balloon Loan 777028666 180 60 Non-Assumable Not a Balloon Loan 777028816 360 0 Non-Assumable Not a Balloon Loan 777028834 360 36 Non-Assumable Not a Balloon Loan 777028888 360 0 Non-Assumable Not a Balloon Loan 777028924 360 0 Non-Assumable Not a Balloon Loan 777028942 360 0 Assumable Not a Balloon Loan 777028979 240 0 Non-Assumable Not a Balloon Loan 777028989 360 60 Non-Assumable Not a Balloon Loan 777029007 360 0 Non-Assumable Not a Balloon Loan 777029082 360 0 Non-Assumable Not a Balloon Loan 777029110 360 0 Non-Assumable Not a Balloon Loan 777029183 240 0 Non-Assumable Not a Balloon Loan 777029204 360 6 Non-Assumable Not a Balloon Loan 777029210 240 36 Non-Assumable Not a Balloon Loan 777029320 180 0 Non-Assumable Not a Balloon Loan 777029383 360 36 Non-Assumable Not a Balloon Loan 777029420 360 36 Non-Assumable Not a Balloon Loan 777029431 360 0 Non-Assumable Not a Balloon Loan 777029449 360 0 Assumable Not a Balloon Loan 777029455 360 36 Non-Assumable Not a Balloon Loan 777029589 360 36 Non-Assumable Not a Balloon Loan 777029659 360 0 Non-Assumable Not a Balloon Loan 777029734 360 36 Non-Assumable Not a Balloon Loan 777029774 360 0 Non-Assumable Not a Balloon Loan 777029776 360 0 Non-Assumable Not a Balloon Loan 777029777 360 0 Non-Assumable Not a Balloon Loan 777029799 360 36 Non-Assumable Not a Balloon Loan 777029815 360 0 Non-Assumable Not a Balloon Loan 777029931 240 0 Non-Assumable Not a Balloon Loan 777029950 360 0 Non-Assumable Not a Balloon Loan 777029979 240 0 Non-Assumable Not a Balloon Loan 777029981 240 0 Non-Assumable Not a Balloon Loan 777030042 360 0 Non-Assumable Not a Balloon Loan 777030211 360 0 Non-Assumable Not a Balloon Loan 777030263 240 0 Non-Assumable Not a Balloon Loan 777030286 360 0 Non-Assumable Not a Balloon Loan 777030296 360 12 Non-Assumable Not a Balloon Loan 777030324 360 12 Non-Assumable Not a Balloon Loan 777030335 360 36 Non-Assumable Not a Balloon Loan 777030414 360 0 Assumable Not a Balloon Loan 777030515 360 0 Non-Assumable Not a Balloon Loan 777030637 240 0 Non-Assumable Not a Balloon Loan 777030643 360 12 Non-Assumable Not a Balloon Loan 777030846 240 0 Non-Assumable Not a Balloon Loan 777030944 360 12 Non-Assumable Not a Balloon Loan 777031066 240 0 Non-Assumable Not a Balloon Loan 777031118 360 0 Non-Assumable Not a Balloon Loan 777031127 360 60 Non-Assumable Not a Balloon Loan 777031148 360 0 Assumable Not a Balloon Loan 777031374 240 36 Non-Assumable Not a Balloon Loan 777031379 240 12 Non-Assumable Not a Balloon Loan 777031569 240 6 Non-Assumable Not a Balloon Loan 777031602 360 0 Assumable Not a Balloon Loan 777031677 240 0 Assumable Not a Balloon Loan 777031683 240 60 Non-Assumable Not a Balloon Loan 777031704 360 0 Non-Assumable Not a Balloon Loan 777031705 360 0 Non-Assumable Not a Balloon Loan 777031766 360 12 Non-Assumable Not a Balloon Loan 777031783 360 0 Assumable Not a Balloon Loan 777031836 360 36 Assumable Not a Balloon Loan 777031906 240 0 Assumable Not a Balloon Loan 777031978 240 0 Assumable Not a Balloon Loan 777032001 180 36 Non-Assumable Not a Balloon Loan 777032047 240 0 Non-Assumable Not a Balloon Loan 777032061 240 0 Non-Assumable Not a Balloon Loan 777032109 180 0 Non-Assumable Not a Balloon Loan 777032158 360 0 Non-Assumable Not a Balloon Loan 777032182 180 36 Non-Assumable Not a Balloon Loan 777032185 180 36 Non-Assumable Not a Balloon Loan 777032311 240 0 Assumable Not a Balloon Loan 777032372 360 0 Assumable Not a Balloon Loan 777032373 360 0 Assumable Not a Balloon Loan 777032448 360 0 Non-Assumable Not a Balloon Loan 777032451 240 0 Assumable Not a Balloon Loan 777032459 240 0 Non-Assumable Not a Balloon Loan 777032614 360 0 Assumable Not a Balloon Loan 777032632 360 36 Non-Assumable Not a Balloon Loan 777032637 240 12 Non-Assumable Not a Balloon Loan 777032699 360 36 Non-Assumable Not a Balloon Loan 777032712 360 36 Non-Assumable Not a Balloon Loan 777032734 240 36 Assumable Not a Balloon Loan 777032756 360 36 Non-Assumable Not a Balloon Loan 777032767 240 0 Assumable Not a Balloon Loan 777032790 360 12 Non-Assumable Not a Balloon Loan 777032859 480 0 Non-Assumable Not a Balloon Loan 777032875 360 36 Non-Assumable Not a Balloon Loan 777032886 180 0 Non-Assumable Not a Balloon Loan 777032887 480 0 Non-Assumable Not a Balloon Loan 777032914 360 36 Non-Assumable Not a Balloon Loan 777032945 360 0 Non-Assumable Not a Balloon Loan 777033051 240 36 Assumable Not a Balloon Loan 777033075 360 0 Non-Assumable Not a Balloon Loan 777033293 360 36 Non-Assumable Not a Balloon Loan 777033294 324 0 Assumable Not a Balloon Loan 777033302 240 36 Non-Assumable Not a Balloon Loan 777033303 360 0 Non-Assumable Not a Balloon Loan 777033312 360 0 Non-Assumable Not a Balloon Loan 777033353 360 0 Non-Assumable Not a Balloon Loan 777033357 360 0 Non-Assumable Not a Balloon Loan 777033367 360 0 Non-Assumable Not a Balloon Loan 777033463 240 36 Assumable Not a Balloon Loan 777033513 360 36 Non-Assumable Not a Balloon Loan 777033559 360 0 Non-Assumable Not a Balloon Loan 777033569 360 36 Non-Assumable Not a Balloon Loan 777033613 240 0 Assumable Not a Balloon Loan 777033633 360 0 Non-Assumable Not a Balloon Loan 777033634 240 0 Non-Assumable Not a Balloon Loan 777033661 240 0 Non-Assumable Not a Balloon Loan 777033665 360 36 Non-Assumable Not a Balloon Loan 777033688 240 0 Non-Assumable Not a Balloon Loan 777033703 240 0 Non-Assumable Not a Balloon Loan 777033797 240 0 Assumable Not a Balloon Loan 777033923 480 12 Non-Assumable Not a Balloon Loan 777033927 480 12 Non-Assumable Not a Balloon Loan 777033998 240 36 Non-Assumable Not a Balloon Loan 777034066 360 36 Non-Assumable Not a Balloon Loan 777034134 240 0 Assumable Not a Balloon Loan 777034137 360 0 Non-Assumable Not a Balloon Loan 777034177 360 0 Non-Assumable Not a Balloon Loan 777034246 360 36 Non-Assumable Not a Balloon Loan 777034318 240 0 Assumable Not a Balloon Loan 777034336 360 0 Non-Assumable Not a Balloon Loan 777034338 360 0 Non-Assumable Not a Balloon Loan 777034365 480 36 Non-Assumable Not a Balloon Loan 777034371 360 0 Non-Assumable Not a Balloon Loan 777034378 480 0 Non-Assumable Not a Balloon Loan 777034387 180 0 Non-Assumable Not a Balloon Loan 777034427 480 0 Non-Assumable Not a Balloon Loan 777034429 360 12 Non-Assumable Not a Balloon Loan 777034739 480 0 Non-Assumable Not a Balloon Loan 777034983 240 36 Assumable Not a Balloon Loan 777035007 480 36 Non-Assumable Not a Balloon Loan 777035170 240 0 Non-Assumable Not a Balloon Loan 777035245 240 36 Non-Assumable Not a Balloon Loan 777035278 480 12 Non-Assumable Not a Balloon Loan 777035300 480 24 Non-Assumable Not a Balloon Loan 777035335 480 36 Non-Assumable Not a Balloon Loan 777035428 480 24 Non-Assumable Not a Balloon Loan 777035496 240 36 Assumable Not a Balloon Loan 777035617 240 24 Assumable Not a Balloon Loan 777035624 360 0 Non-Assumable Not a Balloon Loan 777035710 360 0 Non-Assumable Not a Balloon Loan 777035723 240 36 Assumable Not a Balloon Loan 777035760 240 0 Non-Assumable Not a Balloon Loan 777035762 240 0 Non-Assumable Not a Balloon Loan 777035786 360 0 Non-Assumable Not a Balloon Loan 777035933 360 36 Non-Assumable Not a Balloon Loan 777035949 240 0 Non-Assumable Not a Balloon Loan 777035988 240 36 Assumable Not a Balloon Loan 777035997 480 36 Non-Assumable Not a Balloon Loan 777035998 480 12 Non-Assumable Not a Balloon Loan 777036128 240 0 Non-Assumable Not a Balloon Loan 777036313 300 12 Assumable Not a Balloon Loan 777036315 300 12 Assumable Not a Balloon Loan 777036329 240 0 Non-Assumable Not a Balloon Loan 777036349 240 0 Non-Assumable Not a Balloon Loan 777036369 480 36 Non-Assumable Not a Balloon Loan 777036443 480 36 Non-Assumable Not a Balloon Loan 777036459 300 12 Assumable Not a Balloon Loan 777036524 480 36 Non-Assumable Not a Balloon Loan 777036527 360 36 Assumable Not a Balloon Loan 777036579 240 0 Non-Assumable Not a Balloon Loan 777036689 300 0 Assumable Not a Balloon Loan 777036692 300 12 Assumable Not a Balloon Loan 777036817 480 36 Non-Assumable Not a Balloon Loan 777036834 480 36 Non-Assumable Not a Balloon Loan 777036845 480 36 Non-Assumable Not a Balloon Loan 777036887 360 12 Non-Assumable Not a Balloon Loan 777036906 240 36 Non-Assumable Not a Balloon Loan 777036959 360 0 Non-Assumable Not a Balloon Loan 777036960 240 0 Non-Assumable Not a Balloon Loan 777036981 240 36 Non-Assumable Not a Balloon Loan 777037017 360 0 Non-Assumable Not a Balloon Loan 777037023 360 36 Non-Assumable Not a Balloon Loan 777037059 360 12 Non-Assumable Not a Balloon Loan 777037063 240 0 Non-Assumable Not a Balloon Loan 777037087 240 36 Assumable Not a Balloon Loan 777037098 240 36 Assumable Not a Balloon Loan 777037153 240 12 Non-Assumable Not a Balloon Loan 777037155 240 12 Non-Assumable Not a Balloon Loan 777037186 360 0 Non-Assumable Not a Balloon Loan 777037187 360 0 Non-Assumable Not a Balloon Loan 777037209 360 36 Non-Assumable Not a Balloon Loan 777037225 360 0 Non-Assumable Not a Balloon Loan 777037237 360 36 Non-Assumable Not a Balloon Loan 777037276 360 0 Non-Assumable Not a Balloon Loan 777037277 360 0 Non-Assumable Not a Balloon Loan 777037278 360 0 Non-Assumable Not a Balloon Loan 777037283 240 0 Non-Assumable Not a Balloon Loan 777037299 240 36 Assumable Not a Balloon Loan 777037303 240 36 Non-Assumable Not a Balloon Loan 777037383 240 36 Non-Assumable Not a Balloon Loan 777037389 240 36 Non-Assumable Not a Balloon Loan 777037399 480 0 Non-Assumable Not a Balloon Loan 777037433 240 36 Non-Assumable Not a Balloon Loan 777037445 360 0 Non-Assumable Not a Balloon Loan 777037471 240 24 Non-Assumable Not a Balloon Loan 777037473 240 0 Assumable Not a Balloon Loan 777037563 360 36 Non-Assumable Not a Balloon Loan 777037566 360 0 Non-Assumable Not a Balloon Loan 777037583 360 36 Non-Assumable Not a Balloon Loan 777037636 240 0 Non-Assumable Not a Balloon Loan 777037637 360 0 Non-Assumable Not a Balloon Loan 777037640 360 0 Non-Assumable Not a Balloon Loan 777037643 240 0 Non-Assumable Not a Balloon Loan 777037665 240 36 Non-Assumable Not a Balloon Loan 777037670 240 36 Assumable Not a Balloon Loan 777037677 240 0 Non-Assumable Not a Balloon Loan 777037717 360 0 Non-Assumable Not a Balloon Loan 777037727 240 36 Non-Assumable Not a Balloon Loan 777037770 240 0 Non-Assumable Not a Balloon Loan 777037795 360 36 Non-Assumable Not a Balloon Loan 777037811 240 0 Non-Assumable Not a Balloon Loan 777037814 360 0 Non-Assumable Not a Balloon Loan 777037840 240 0 Non-Assumable Not a Balloon Loan 777037846 240 36 Non-Assumable Not a Balloon Loan 777037864 240 36 Non-Assumable Not a Balloon Loan 777037866 360 36 Non-Assumable Not a Balloon Loan 777037875 240 0 Non-Assumable Not a Balloon Loan 777037891 240 0 Non-Assumable Not a Balloon Loan 777037895 360 0 Non-Assumable Not a Balloon Loan 777037929 240 0 Non-Assumable Not a Balloon Loan 777037940 360 12 Non-Assumable Not a Balloon Loan 777037945 240 36 Non-Assumable Not a Balloon Loan 777037954 360 0 Non-Assumable Not a Balloon Loan 777037986 360 0 Non-Assumable Not a Balloon Loan 777037991 360 0 Non-Assumable Not a Balloon Loan 777038024 240 0 Non-Assumable Not a Balloon Loan 777038029 240 0 Assumable Not a Balloon Loan 777038040 240 0 Non-Assumable Not a Balloon Loan 777038041 240 36 Non-Assumable Not a Balloon Loan 777038055 360 12 Non-Assumable Not a Balloon Loan 777038064 240 36 Non-Assumable Not a Balloon Loan 777038075 360 0 Non-Assumable Not a Balloon Loan 777038079 360 36 Non-Assumable Not a Balloon Loan 777038091 240 0 Non-Assumable Not a Balloon Loan 777038103 360 0 Non-Assumable Not a Balloon Loan 777038107 360 0 Assumable Not a Balloon Loan 777038143 240 12 Non-Assumable Not a Balloon Loan 777038147 360 36 Non-Assumable Not a Balloon Loan 777038162 240 0 Non-Assumable Not a Balloon Loan 777038175 240 36 Non-Assumable Not a Balloon Loan 777038181 360 0 Non-Assumable Not a Balloon Loan 777038182 240 0 Assumable Not a Balloon Loan 777038185 240 36 Non-Assumable Not a Balloon Loan 777038191 240 12 Assumable Not a Balloon Loan 777038198 360 0 Non-Assumable Not a Balloon Loan 777038199 360 0 Non-Assumable Not a Balloon Loan 777038204 360 12 Non-Assumable Not a Balloon Loan 777038206 240 12 Non-Assumable Not a Balloon Loan 777038227 360 0 Non-Assumable Not a Balloon Loan 777038229 240 0 Non-Assumable Not a Balloon Loan 777038235 240 0 Non-Assumable Not a Balloon Loan 777038239 360 36 Non-Assumable Not a Balloon Loan 777038255 240 0 Non-Assumable Not a Balloon Loan 777038256 360 12 Non-Assumable Not a Balloon Loan 777038264 360 12 Non-Assumable Not a Balloon Loan 777038270 240 36 Non-Assumable Not a Balloon Loan 777038289 240 36 Non-Assumable Not a Balloon Loan 777038312 240 0 Non-Assumable Not a Balloon Loan 777038331 240 0 Non-Assumable Not a Balloon Loan 777038332 240 12 Non-Assumable Not a Balloon Loan 777038335 360 36 Non-Assumable Not a Balloon Loan 777038349 240 12 Non-Assumable Not a Balloon Loan 777038359 360 36 Non-Assumable Not a Balloon Loan 777038362 360 36 Non-Assumable Not a Balloon Loan 777038363 240 36 Assumable Not a Balloon Loan 777038367 240 12 Non-Assumable Not a Balloon Loan 777038375 360 0 Non-Assumable Not a Balloon Loan 777038377 480 36 Non-Assumable Not a Balloon Loan 777038378 240 36 Non-Assumable Not a Balloon Loan 777038382 360 12 Non-Assumable Not a Balloon Loan 777038383 360 12 Non-Assumable Not a Balloon Loan 777038401 240 0 Non-Assumable Not a Balloon Loan 777038417 240 36 Non-Assumable Not a Balloon Loan 777038420 360 0 Non-Assumable Not a Balloon Loan 777038423 240 36 Assumable Not a Balloon Loan 777038425 240 36 Assumable Not a Balloon Loan 777038435 360 0 Non-Assumable Not a Balloon Loan 777038462 360 0 Non-Assumable Not a Balloon Loan 777038466 240 12 Non-Assumable Not a Balloon Loan 777038500 324 12 Assumable Not a Balloon Loan 777038502 240 12 Non-Assumable Not a Balloon Loan 777038505 360 36 Non-Assumable Not a Balloon Loan 777038526 360 36 Non-Assumable Not a Balloon Loan 777038540 360 0 Non-Assumable Not a Balloon Loan 777038542 360 0 Non-Assumable Not a Balloon Loan 777038543 240 0 Non-Assumable Not a Balloon Loan 777038557 360 0 Non-Assumable Not a Balloon Loan 777038558 360 0 Non-Assumable Not a Balloon Loan 777038564 240 36 Non-Assumable Not a Balloon Loan 777038589 240 36 Non-Assumable Not a Balloon Loan 777038592 240 36 Non-Assumable Not a Balloon Loan 777038599 480 36 Non-Assumable Not a Balloon Loan 777038604 360 36 Non-Assumable Not a Balloon Loan 777038610 360 0 Non-Assumable Not a Balloon Loan 777038630 360 12 Non-Assumable Not a Balloon Loan 777038634 360 0 Non-Assumable Not a Balloon Loan 777038637 360 36 Non-Assumable Not a Balloon Loan 777038644 360 36 Non-Assumable Not a Balloon Loan 777038649 240 36 Non-Assumable Not a Balloon Loan 777038659 360 0 Non-Assumable Not a Balloon Loan 777038676 240 36 Assumable Not a Balloon Loan 777038687 360 36 Non-Assumable Not a Balloon Loan 777038694 240 12 Non-Assumable Not a Balloon Loan 777038701 360 0 Non-Assumable Not a Balloon Loan 777038709 240 36 Assumable Not a Balloon Loan 777038710 180 0 Non-Assumable Not a Balloon Loan 777038728 240 12 Non-Assumable Not a Balloon Loan 777038729 360 0 Non-Assumable Not a Balloon Loan 777038749 360 0 Non-Assumable Not a Balloon Loan 777038769 360 12 Non-Assumable Not a Balloon Loan 777038784 240 0 Non-Assumable Not a Balloon Loan 777038791 360 12 Non-Assumable Not a Balloon Loan 777038804 360 0 Non-Assumable Not a Balloon Loan 777038805 240 0 Non-Assumable Not a Balloon Loan 777038814 360 36 Non-Assumable Not a Balloon Loan 777038821 240 36 Non-Assumable Not a Balloon Loan 777038825 240 0 Non-Assumable Not a Balloon Loan 777038831 240 12 Non-Assumable Not a Balloon Loan 777038834 360 36 Non-Assumable Not a Balloon Loan 777038842 360 12 Assumable Not a Balloon Loan 777038852 240 36 Non-Assumable Not a Balloon Loan 777038855 240 36 Non-Assumable Not a Balloon Loan 777038877 360 0 Non-Assumable Not a Balloon Loan 777038882 360 0 Non-Assumable Not a Balloon Loan 777038891 360 36 Non-Assumable Not a Balloon Loan 777038919 360 0 Non-Assumable Not a Balloon Loan 777038933 240 36 Non-Assumable Not a Balloon Loan 777038953 240 0 Non-Assumable Not a Balloon Loan 777038960 240 0 Non-Assumable Not a Balloon Loan 777038962 240 36 Non-Assumable Not a Balloon Loan 777038965 240 0 Non-Assumable Not a Balloon Loan 777038966 360 36 Non-Assumable Not a Balloon Loan 777038967 360 0 Non-Assumable Not a Balloon Loan 777038969 300 12 Assumable Not a Balloon Loan 777038979 360 36 Non-Assumable Not a Balloon Loan 777038984 240 0 Assumable Not a Balloon Loan 777039004 360 0 Non-Assumable Not a Balloon Loan 777039016 360 0 Non-Assumable Not a Balloon Loan 777039023 360 36 Non-Assumable Not a Balloon Loan 777039027 240 36 Non-Assumable Not a Balloon Loan 777039034 360 0 Non-Assumable Not a Balloon Loan 777039041 360 12 Non-Assumable Not a Balloon Loan 777039046 240 36 Non-Assumable Not a Balloon Loan 777039049 480 0 Non-Assumable Not a Balloon Loan 777039056 240 12 Non-Assumable Not a Balloon Loan 777039060 240 0 Non-Assumable Not a Balloon Loan 777039066 240 0 Non-Assumable Not a Balloon Loan 777039068 360 0 Non-Assumable Not a Balloon Loan 777039069 240 0 Non-Assumable Not a Balloon Loan 777039099 360 36 Non-Assumable Not a Balloon Loan 777039112 240 36 Non-Assumable Not a Balloon Loan 777039119 480 0 Non-Assumable Not a Balloon Loan 777039123 240 12 Non-Assumable Not a Balloon Loan 777039124 360 36 Non-Assumable Not a Balloon Loan 777039125 240 0 Non-Assumable Not a Balloon Loan 777039143 240 12 Non-Assumable Not a Balloon Loan 777039144 240 12 Non-Assumable Not a Balloon Loan 777039146 360 0 Non-Assumable Not a Balloon Loan 777039167 240 36 Non-Assumable Not a Balloon Loan 777039191 360 36 Non-Assumable Not a Balloon Loan 777039195 360 0 Non-Assumable Not a Balloon Loan 777039197 360 36 Non-Assumable Not a Balloon Loan 777039205 240 36 Non-Assumable Not a Balloon Loan 777039218 240 36 Non-Assumable Not a Balloon Loan 777039221 240 36 Non-Assumable Not a Balloon Loan 777039260 360 36 Non-Assumable Not a Balloon Loan 777039274 360 0 Non-Assumable Not a Balloon Loan 777039275 360 0 Non-Assumable Not a Balloon Loan 777039278 240 0 Non-Assumable Not a Balloon Loan 777039281 360 0 Non-Assumable Not a Balloon Loan 777039295 240 0 Non-Assumable Not a Balloon Loan 777039303 360 0 Non-Assumable Not a Balloon Loan 777039313 240 0 Non-Assumable Not a Balloon Loan 777039314 240 0 Non-Assumable Not a Balloon Loan 777039315 240 36 Non-Assumable Not a Balloon Loan 777039316 360 36 Assumable Not a Balloon Loan 777039319 240 0 Non-Assumable Not a Balloon Loan 777039323 240 0 Non-Assumable Not a Balloon Loan 777039329 360 12 Non-Assumable Not a Balloon Loan 777039333 240 0 Non-Assumable Not a Balloon Loan 777039336 240 36 Non-Assumable Not a Balloon Loan 777039338 240 36 Non-Assumable Not a Balloon Loan 777039339 240 12 Non-Assumable Not a Balloon Loan 777039345 360 36 Non-Assumable Not a Balloon Loan 777039349 360 12 Non-Assumable Not a Balloon Loan 777039359 240 0 Non-Assumable Not a Balloon Loan 777039364 360 12 Non-Assumable Not a Balloon Loan 777039366 360 36 Assumable Not a Balloon Loan 777039371 240 0 Assumable Not a Balloon Loan 777039388 300 12 Assumable Not a Balloon Loan 777039395 240 36 Assumable Not a Balloon Loan 777039396 360 12 Non-Assumable Not a Balloon Loan 777039410 360 36 Non-Assumable Not a Balloon Loan 777039419 240 12 Non-Assumable Not a Balloon Loan 777039420 360 36 Non-Assumable Not a Balloon Loan 777039426 240 36 Non-Assumable Not a Balloon Loan 777039430 240 0 Non-Assumable Not a Balloon Loan 777039434 240 0 Non-Assumable Not a Balloon Loan 777039439 360 12 Non-Assumable Not a Balloon Loan 777039446 240 12 Non-Assumable Not a Balloon Loan 777039455 360 0 Non-Assumable Not a Balloon Loan 777039457 240 36 Non-Assumable Not a Balloon Loan 777039458 360 36 Non-Assumable Not a Balloon Loan 777039489 360 0 Non-Assumable Not a Balloon Loan 777039491 240 0 Non-Assumable Not a Balloon Loan 777039494 240 36 Assumable Not a Balloon Loan 777039503 360 0 Non-Assumable Not a Balloon Loan 777039521 240 36 Non-Assumable Not a Balloon Loan 777039524 240 36 Non-Assumable Not a Balloon Loan 777039536 360 36 Non-Assumable Not a Balloon Loan 777039542 240 36 Non-Assumable Not a Balloon Loan 777039547 360 0 Non-Assumable Not a Balloon Loan 777039550 240 12 Non-Assumable Not a Balloon Loan 777039551 360 0 Non-Assumable Not a Balloon Loan 777039552 240 36 Non-Assumable Not a Balloon Loan 777039553 240 36 Non-Assumable Not a Balloon Loan 777039562 240 0 Non-Assumable Not a Balloon Loan 777039586 360 36 Non-Assumable Not a Balloon Loan 777039593 240 0 Non-Assumable Not a Balloon Loan 777039604 360 0 Non-Assumable Not a Balloon Loan 777039607 360 12 Non-Assumable Not a Balloon Loan 777039611 360 0 Non-Assumable Not a Balloon Loan 777039615 240 0 Non-Assumable Not a Balloon Loan 777039622 360 12 Assumable Not a Balloon Loan 777039623 240 0 Assumable Not a Balloon Loan 777039625 360 36 Non-Assumable Not a Balloon Loan 777039637 240 36 Non-Assumable Not a Balloon Loan 777039646 240 36 Non-Assumable Not a Balloon Loan 777039660 240 36 Non-Assumable Not a Balloon Loan 777039663 360 36 Non-Assumable Not a Balloon Loan 777039675 240 0 Non-Assumable Not a Balloon Loan 777039685 360 12 Non-Assumable Not a Balloon Loan 777039699 360 36 Non-Assumable Not a Balloon Loan 777039703 240 0 Non-Assumable Not a Balloon Loan 777039704 240 0 Non-Assumable Not a Balloon Loan 777039714 360 36 Non-Assumable Not a Balloon Loan 777039718 240 0 Non-Assumable Not a Balloon Loan 777039720 240 36 Assumable Not a Balloon Loan 777039763 240 12 Non-Assumable Not a Balloon Loan 777039769 240 0 Non-Assumable Not a Balloon Loan 777039770 360 36 Non-Assumable Not a Balloon Loan 777039775 240 36 Non-Assumable Not a Balloon Loan 777039780 240 36 Non-Assumable Not a Balloon Loan 777039782 360 12 Assumable Not a Balloon Loan 777039784 360 0 Non-Assumable Not a Balloon Loan 777039790 360 36 Non-Assumable Not a Balloon Loan 777039803 360 0 Non-Assumable Not a Balloon Loan 777039805 324 0 Assumable Not a Balloon Loan 777039823 300 12 Assumable Not a Balloon Loan 777039833 360 36 Non-Assumable Not a Balloon Loan 777039838 240 0 Non-Assumable Not a Balloon Loan 777039851 240 36 Non-Assumable Not a Balloon Loan 777039859 240 12 Non-Assumable Not a Balloon Loan 777039861 240 36 Non-Assumable Not a Balloon Loan 777039862 240 36 Non-Assumable Not a Balloon Loan 777039865 360 36 Non-Assumable Not a Balloon Loan 777039869 360 36 Non-Assumable Not a Balloon Loan 777039873 240 0 Non-Assumable Not a Balloon Loan 777039875 360 0 Non-Assumable Not a Balloon Loan 777039881 360 0 Non-Assumable Not a Balloon Loan 777039882 360 36 Non-Assumable Not a Balloon Loan 777039883 360 12 Non-Assumable Not a Balloon Loan 777039889 240 0 Non-Assumable Not a Balloon Loan 777039896 240 36 Non-Assumable Not a Balloon Loan 777039898 240 0 Non-Assumable Not a Balloon Loan 777039899 240 0 Non-Assumable Not a Balloon Loan 777039907 240 0 Non-Assumable Not a Balloon Loan 777039919 240 36 Non-Assumable Not a Balloon Loan 777039925 240 36 Assumable Not a Balloon Loan 777039927 240 0 Non-Assumable Not a Balloon Loan 777039932 240 0 Non-Assumable Not a Balloon Loan 777039944 360 36 Non-Assumable Not a Balloon Loan 777039952 360 0 Non-Assumable Not a Balloon Loan 777039956 360 0 Non-Assumable Not a Balloon Loan 777039969 240 12 Non-Assumable Not a Balloon Loan 777039986 240 12 Non-Assumable Not a Balloon Loan 777039995 240 0 Non-Assumable Not a Balloon Loan 777040009 240 12 Non-Assumable Not a Balloon Loan 777040010 360 36 Non-Assumable Not a Balloon Loan 777040011 360 36 Non-Assumable Not a Balloon Loan 777040024 240 0 Non-Assumable Not a Balloon Loan 777040028 240 36 Non-Assumable Not a Balloon Loan 777040033 240 36 Non-Assumable Not a Balloon Loan 777040037 240 36 Non-Assumable Not a Balloon Loan 777040044 360 12 Assumable Not a Balloon Loan 777040046 360 12 Non-Assumable Not a Balloon Loan 777040047 480 0 Non-Assumable Not a Balloon Loan 777040051 240 36 Non-Assumable Not a Balloon Loan 777040054 360 0 Non-Assumable Not a Balloon Loan 777040059 240 36 Non-Assumable Not a Balloon Loan 777040073 360 36 Non-Assumable Not a Balloon Loan 777040074 240 36 Non-Assumable Not a Balloon Loan 777040082 360 0 Non-Assumable Not a Balloon Loan 777040083 240 0 Non-Assumable Not a Balloon Loan 777040090 240 0 Non-Assumable Not a Balloon Loan 777040092 360 12 Non-Assumable Not a Balloon Loan 777040097 240 0 Assumable Not a Balloon Loan 777040102 360 12 Non-Assumable Not a Balloon Loan 777040103 360 0 Non-Assumable Not a Balloon Loan 777040105 240 36 Non-Assumable Not a Balloon Loan 777040118 240 36 Non-Assumable Not a Balloon Loan 777040123 240 36 Non-Assumable Not a Balloon Loan 777040126 240 0 Non-Assumable Not a Balloon Loan 777040133 240 36 Assumable Not a Balloon Loan 777040135 240 36 Assumable Not a Balloon Loan 777040137 240 36 Assumable Not a Balloon Loan 777040138 360 36 Non-Assumable Not a Balloon Loan 777040139 240 12 Assumable Not a Balloon Loan 777040145 240 36 Non-Assumable Not a Balloon Loan 777040146 240 12 Non-Assumable Not a Balloon Loan 777040147 360 36 Non-Assumable Not a Balloon Loan 777040152 360 0 Assumable Not a Balloon Loan 777040158 360 36 Non-Assumable Not a Balloon Loan 777040161 240 0 Non-Assumable Not a Balloon Loan 777040169 360 0 Non-Assumable Not a Balloon Loan 777040174 360 0 Non-Assumable Not a Balloon Loan 777040178 240 36 Non-Assumable Not a Balloon Loan 777040191 240 36 Non-Assumable Not a Balloon Loan 777040196 240 12 Non-Assumable Not a Balloon Loan 777040200 240 36 Non-Assumable Not a Balloon Loan 777040201 360 12 Non-Assumable Not a Balloon Loan 777040202 240 12 Non-Assumable Not a Balloon Loan 777040205 240 0 Non-Assumable Not a Balloon Loan 777040222 360 0 Non-Assumable Not a Balloon Loan 777040229 360 36 Non-Assumable Not a Balloon Loan 777040240 240 12 Non-Assumable Not a Balloon Loan 777040241 240 12 Non-Assumable Not a Balloon Loan 777040261 240 0 Non-Assumable Not a Balloon Loan 777040269 360 0 Non-Assumable Not a Balloon Loan 777040278 360 36 Non-Assumable Not a Balloon Loan 777040297 240 0 Non-Assumable Not a Balloon Loan 777040299 240 24 Assumable Not a Balloon Loan 777040352 240 0 Non-Assumable Not a Balloon Loan 777040354 240 36 Non-Assumable Not a Balloon Loan 777040356 240 36 Assumable Not a Balloon Loan 777040357 240 12 Assumable Not a Balloon Loan 777040365 240 0 Non-Assumable Not a Balloon Loan 777040370 240 12 Non-Assumable Not a Balloon Loan 777040394 240 12 Non-Assumable Not a Balloon Loan 777040398 360 12 Non-Assumable Not a Balloon Loan 777040399 360 36 Non-Assumable Not a Balloon Loan 777040406 360 0 Non-Assumable Not a Balloon Loan 777040407 360 0 Non-Assumable Not a Balloon Loan 777040413 360 36 Non-Assumable Not a Balloon Loan 777040429 360 12 Non-Assumable Not a Balloon Loan 777040430 240 12 Non-Assumable Not a Balloon Loan 777040434 240 36 Non-Assumable Not a Balloon Loan 777040443 240 0 Non-Assumable Not a Balloon Loan 777040448 360 12 Non-Assumable Not a Balloon Loan 777040449 240 12 Non-Assumable Not a Balloon Loan 777040478 300 12 Assumable Not a Balloon Loan 777040482 240 12 Assumable Not a Balloon Loan 777040484 240 36 Non-Assumable Not a Balloon Loan 777040485 360 0 Non-Assumable Not a Balloon Loan 777040487 360 36 Non-Assumable Not a Balloon Loan 777040551 360 0 Non-Assumable Not a Balloon Loan 777040554 360 12 Non-Assumable Not a Balloon Loan 777040557 240 36 Non-Assumable Not a Balloon Loan 777040577 360 12 Non-Assumable Not a Balloon Loan 777040578 360 36 Non-Assumable Not a Balloon Loan 777040593 240 36 Non-Assumable Not a Balloon Loan 777040596 240 36 Non-Assumable Not a Balloon Loan 777040603 360 36 Non-Assumable Not a Balloon Loan 777040635 240 36 Non-Assumable Not a Balloon Loan 777040639 240 36 Non-Assumable Not a Balloon Loan 777040643 240 36 Non-Assumable Not a Balloon Loan 777040649 240 36 Non-Assumable Not a Balloon Loan 777040658 360 0 Non-Assumable Not a Balloon Loan 777040662 360 12 Non-Assumable Not a Balloon Loan 777040663 480 12 Non-Assumable Not a Balloon Loan 777040671 300 36 Assumable Not a Balloon Loan 777040676 360 12 Non-Assumable Not a Balloon Loan 777040677 360 0 Non-Assumable Not a Balloon Loan 777040693 240 36 Non-Assumable Not a Balloon Loan 777040694 240 0 Non-Assumable Not a Balloon Loan 777040705 360 0 Non-Assumable Not a Balloon Loan 777040708 360 0 Non-Assumable Not a Balloon Loan 777040723 360 0 Non-Assumable Not a Balloon Loan 777040752 360 36 Non-Assumable Not a Balloon Loan 777040753 360 36 Non-Assumable Not a Balloon Loan 777040761 360 12 Non-Assumable Not a Balloon Loan 777040767 360 0 Non-Assumable Not a Balloon Loan 777040776 240 12 Non-Assumable Not a Balloon Loan 777040779 360 12 Non-Assumable Not a Balloon Loan 777040790 324 12 Assumable Not a Balloon Loan 777040819 300 12 Assumable Not a Balloon Loan 777040820 300 12 Assumable Not a Balloon Loan 777040843 300 12 Assumable Not a Balloon Loan 777040918 300 12 Assumable Not a Balloon Loan 777041008 360 0 Non-Assumable Not a Balloon Loan UBS Loan ID Index Convertible IO Term Margin Rate Adjustment Freq -------------------------------------------------------------------------------------------------------------------------- 334405839 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX 120 5 6 334532908 5/ 6 MONTH LIBOR 0 5 6 334532949 5/ 6 MONTH LIBOR 120 5 6 334655990 30 YR FXD 0 0 0 334659518 5/ 6 MONTH LIBOR 120 2.75 6 334659541 BALLOON OTHER 0 0 0 334688853 5/ 6 MONTH LIBOR 120 2.25 6 334720548 3/1 ARM 1 YR CMT No 0 2.75 12 334720549 7/1 ARM 1 YR LIBOR No 84 2.5 12 334738020 2/ 6 MONTH LIBOR 60 5.44 6 334738165 2/ 6 MONTH LIBOR 0 5.62 6 334740598 5/ 6 MONTH LIBOR 120 5 6 334740620 5/ 6 MONTH LIBOR 120 2.25 6 334756494 5/ 6 MONTH LIBOR 120 2.75 6 334756551 5/ 6 MONTH LIBOR 120 2.75 6 334921808 5/ 6 MONTH LIBOR 120 2.25 6 335664299 30 YR FXD 0 0 0 335664300 30 YR FXD 0 0 0 335664305 30 YR FXD 0 0 0 335664316 30 YR FXD 0 0 0 335664354 30 YR FXD 120 0 0 335664362 30 YR XXX 000 0 0 000000000 00 XX XXX 120 0 0 335664377 30 YR XXX 000 0 0 000000000 00 XX XXX 120 0 0 335664387 30 YR XXX 000 0 0 000000000 00 XX XXX 120 0 0 335664393 30 YR FXD 120 0 0 335736334 30 YR FXD 0 0 0 335736335 BALLOON OTHER 0 0 0 335736339 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 335751199 30 YR FXD 0 0 0 335751203 30 YR FXD 0 0 0 335751204 30 YR FXD 0 0 0 335751227 30 YR FXD 120 0 0 335847961 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX 120 2.75 6 335847968 5/ 6 MONTH LIBOR No 0 2.25 6 777005164 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777008555 5/ 6 MONTH LIBOR No 0 2.25 6 777008649 2/ 6 MONTH LIBOR Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXX Xx 0 2.75 12 777010306 3/1 ARM 1 YR CMT No 0 2.75 12 777010315 30 YR FXD Xx 0 0 0 000000000 00 XX XXX No 120 0 0 777017938 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777022040 30 YR FXD 0 0 0 777022104 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777024623 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777024948 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777026173 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777026273 5/1 ARM 1 YR LIBOR No 120 2.25 12 777026468 7/1 ARM 1 YR LIBOR No 0 2.25 12 777026595 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777026765 7/1 ARM 1 YR LIBOR No 0 2.25 12 777027150 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777027266 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777027783 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777028237 7/1 ARM 1 YR LIBOR No 120 2.25 12 777028498 30 YR FXD No 0 0 0 777028656 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777028979 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777029455 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777030042 30 YR FXD Xx 0 0 0 000000000 00 XX XXX No 0 0 0 777030263 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777030515 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX No 0 0 0 777030846 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777031374 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777031569 30 YR FXD Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777031677 5/1 ARM 1 YR LIBOR No 120 2.25 12 777031683 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777031836 3/1 ARM 1 YR LIBOR No 0 2.25 12 777031906 5/1 ARM 1 YR LIBOR No 120 2.25 12 777031978 5/1 ARM 1 YR LIBOR No 120 2.25 12 777032001 15 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777032109 15 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777032372 5/1 ARM 1 YR LIBOR No 0 2.25 12 777032373 5/1 ARM 1 YR LIBOR No 0 2.25 12 777032448 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777032459 30 YR FXD Xx 000 0 0 000000000 0/0 XXX 0 XX XXXXX No 0 2.25 12 777032632 30 YR FXD No 0 0 0 777032637 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777032756 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777032790 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777033075 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 36 3.32 12 777033302 5/ 6 MONTH LIBOR No 120 2.25 6 777033303 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777033513 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.95 12 777033633 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777033665 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777033703 20 Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.95 12 777033923 40 YR FXD Xx 0 0 0 000000000 00 XX XXX No 0 0 0 777033998 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777034137 5/ 6 MONTH LIBOR No 0 3.13 6 777034177 7/ 6 MONTH LIBOR No 0 2.25 6 777034246 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.25 12 777034336 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777035007 40 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777035278 40 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.57 6 777035617 5/ 6 MONTH LIBOR No 120 2.9375 6 777035624 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777035760 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777035786 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777035997 40 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 60 2.75 6 777036315 5/ 6 MONTH LIBOR No 60 2.75 6 777036329 30 YR FXD No 120 0 0 777036349 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 60 2.875 6 777036524 40 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777036579 30 YR FXD Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 60 2.95 6 777036692 5/ 6 MONTH LIBOR No 60 3.3 6 777036817 40 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.8125 6 777036906 20 Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 3.499 6 777037017 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 3.06 6 777037098 5/ 6 MONTH LIBOR No 120 2.25 6 777037153 5/ 6 MONTH LIBOR No 120 2.25 6 777037155 5/ 6 MONTH LIBOR No 120 2.25 6 777037186 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 3.14 6 777037303 7/ 6 MONTH LIBOR No 120 2.874 6 777037383 30 YR FXD Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.812 6 777037399 40 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.875 6 777037445 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 3.25 6 777037563 7/ 6 MONTH LIBOR No 0 3.061 6 777037566 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.65 6 777037677 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777037795 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777037864 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777037891 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038040 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777038055 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038075 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 3.05 6 777038143 3/ 6 MONTH LIBOR No 120 2.25 6 777038147 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777038181 30 YR FXD Xx 0 0 0 000000000 0/0 XXX 0 XX XXXXX No 120 2.8125 12 777038185 30 YR FXD Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.81 6 777038198 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 3.126 6 777038227 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038239 5/ 6 MONTH LIBOR No 0 2.25 6 777038255 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777038312 30 YR FXD Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038332 3/ 6 MONTH LIBOR No 120 2.25 6 777038335 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777038375 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777038401 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777038423 5/1 ARM 1 YR LIBOR No 120 2.25 12 777038425 5/ 6 MONTH LIBOR No 120 2.625 6 777038435 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038500 3/ 6 MONTH LIBOR No 36 2.75 6 777038502 7/ 6 MONTH LIBOR No 120 2.25 6 777038505 7/ 6 MONTH LIBOR No 0 2.75 6 777038526 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.25 6 777038557 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.499 6 777038589 30 YR FXD Xx 000 0 0 000000000 00 XX XXX Xx 120 0 0 777038599 40 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 0 2.25 6 777038644 30 YR FXD Xx 0 0 0 000000000 00 XX XXX Xx 000 0 0 000000000 00 XX XXX Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.6875 6 777038687 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.874 6 777038701 30 YR FXD Xx 0 0 0 000000000 0/ 0 XXXXX XXXXX Xx 120 2.625 6 777038710 15 YR FXD Xx 0 0 0 000000000 00 XX XXX No 120 0 0 777038729 30 YR FXD No 0 0 0 777038749 30 YR FXD No 0 0 0 777038769 7/ 6 MONTH LIBOR No 0 2.25 6 777038784 30 YR FXD No 120 0 0 777038791 3/ 6 MONTH LIBOR No 0 2.25 6 777038804 30 YR FXD No 0 0 0 777038805 30 YR FXD No 120 0 0 777038814 30 YR FXD No 0 0 0 777038821 30 YR FXD No 120 0 0 777038825 30 YR FXD No 120 0 0 777038831 30 YR FXD No 120 0 0 777038834 30 YR FXD No 0 0 0 777038842 5/ 6 MONTH LIBOR No 0 3 6 777038852 30 YR FXD No 120 0 0 777038855 30 YR FXD No 120 0 0 777038877 30 YR FXD No 0 0 0 777038882 30 YR FXD No 0 0 0 777038891 30 YR FXD No 0 0 0 777038919 30 YR FXD No 0 0 0 777038933 5/ 6 MONTH LIBOR No 120 2.25 6 777038953 30 YR FXD No 120 0 0 777038960 5/ 6 MONTH LIBOR No 120 2.25 6 777038962 30 YR FXD No 120 0 0 777038965 5/ 6 MONTH LIBOR No 120 2.875 6 777038966 5/ 6 MONTH LIBOR No 0 2.499 6 777038967 30 YR FXD No 0 0 0 777038969 5/ 6 MONTH LIBOR No 60 3.3 6 777038979 30 YR FXD No 0 0 0 777038984 3/1 ARM 1 YR LIBOR No 120 2.6875 12 777039004 30 YR FXD No 0 0 0 777039016 30 YR FXD No 0 0 0 777039023 5/ 6 MONTH LIBOR No 0 2.25 6 777039027 30 YR FXD No 120 0 0 777039034 30 YR FXD No 0 0 0 777039041 30 YR FXD No 0 0 0 777039046 5/ 6 MONTH LIBOR No 120 2.874 6 777039049 40 YR FXD No 0 0 0 777039056 5/ 6 MONTH LIBOR No 120 2.25 6 777039060 30 YR FXD No 120 0 0 777039066 5/ 6 MONTH LIBOR No 120 2.25 6 777039068 30 YR FXD No 0 0 0 777039069 30 YR FXD No 120 0 0 777039099 30 YR FXD No 0 0 0 777039112 5/ 6 MONTH LIBOR No 120 2.25 6 777039119 40 YR FXD No 0 0 0 777039123 30 YR FXD No 120 0 0 777039124 30 YR FXD No 120 0 0 777039125 30 YR FXD No 120 0 0 777039143 5/ 6 MONTH LIBOR No 120 2.875 6 777039144 5/ 6 MONTH LIBOR No 120 2.937 6 777039146 3/ 6 MONTH LIBOR No 0 2.25 6 777039167 5/ 6 MONTH LIBOR No 120 2.25 6 777039191 30 YR FXD No 0 0 0 777039195 30 YR FXD No 0 0 0 777039197 30 YR FXD No 0 0 0 777039205 3/ 6 MONTH LIBOR No 120 2.687 6 777039218 30 YR FXD No 120 0 0 777039221 5/ 6 MONTH LIBOR No 120 2.812 6 777039260 30 YR FXD No 0 0 0 777039274 30 YR FXD No 0 0 0 777039275 30 YR FXD No 0 0 0 777039278 30 YR FXD No 120 0 0 777039281 30 YR FXD No 0 0 0 777039295 30 YR FXD No 120 0 0 777039303 30 YR FXD No 0 0 0 777039313 30 YR FXD No 120 0 0 777039314 30 YR FXD No 120 0 0 777039315 7/ 6 MONTH LIBOR No 120 2.812 6 777039316 3/1 ARM 1 YR LIBOR No 0 2.25 12 777039319 30 YR FXD No 120 0 0 777039323 5/ 6 MONTH LIBOR No 120 2.25 6 777039329 30 YR FXD No 0 0 0 777039333 5/ 6 MONTH LIBOR No 120 2.25 6 777039336 30 YR FXD No 120 0 0 777039338 30 YR FXD No 120 0 0 777039339 30 YR FXD No 120 0 0 777039345 5/ 6 MONTH LIBOR No 0 2.875 6 777039349 3/ 6 MONTH LIBOR No 0 2.25 6 777039359 30 YR FXD No 120 0 0 777039364 30 YR FXD No 0 0 0 777039366 5/ 6 MONTH LIBOR No 0 2.625 6 777039371 7/ 6 MONTH LIBOR No 120 2.25 6 777039388 5/1 ARM 1 YR LIBOR No 60 3.5 12 777039395 5/ 6 MONTH LIBOR No 120 3.8125 6 777039396 30 YR FXD No 0 0 0 777039410 30 YR FXD No 0 0 0 777039419 30 YR FXD No 120 0 0 777039420 5/ 6 MONTH LIBOR No 0 2.25 6 777039426 30 YR FXD No 120 0 0 777039430 30 YR FXD No 120 0 0 777039434 30 YR FXD No 120 0 0 777039439 30 YR FXD No 0 0 0 777039446 30 YR FXD No 120 0 0 777039455 30 YR FXD No 0 0 0 777039457 5/ 6 MONTH LIBOR No 120 2.25 6 777039458 30 YR FXD No 0 0 0 777039489 30 YR FXD No 0 0 0 777039491 30 YR FXD No 120 0 0 777039494 5/ 6 MONTH LIBOR No 120 2.25 6 777039503 30 YR FXD No 0 0 0 777039521 30 YR FXD No 120 0 0 777039524 30 YR FXD No 120 0 0 777039536 5/ 6 MONTH LIBOR No 0 3.686 6 777039542 5/ 6 MONTH LIBOR No 120 2.625 6 777039547 30 YR FXD No 0 0 0 777039550 30 YR FXD No 120 0 0 777039551 30 YR FXD No 0 0 0 777039552 30 YR FXD No 120 0 0 777039553 30 YR FXD No 120 0 0 777039562 30 YR FXD No 120 0 0 777039586 30 YR FXD No 0 0 0 777039593 3/ 6 MONTH LIBOR No 120 2.25 6 777039604 30 YR FXD No 0 0 0 777039607 30 YR FXD No 0 0 0 777039611 30 YR FXD No 0 0 0 777039615 30 YR FXD No 120 0 0 777039622 7/ 6 MONTH LIBOR No 0 2.25 6 777039623 5/ 6 MONTH LIBOR No 120 3.8125 6 777039625 5/ 6 MONTH LIBOR No 0 2.875 6 777039637 30 YR FXD No 120 0 0 777039646 7/ 6 MONTH LIBOR No 120 2.748 6 777039660 3/ 6 MONTH LIBOR No 120 3.249 6 777039663 3/ 6 MONTH LIBOR No 0 2.25 6 777039675 30 YR FXD No 120 0 0 777039685 3/ 6 MONTH LIBOR No 0 2.25 6 777039699 5/ 6 MONTH LIBOR No 0 2.25 6 777039703 30 YR FXD No 120 0 0 777039704 30 YR FXD No 120 0 0 777039714 5/ 6 MONTH LIBOR No 0 3.124 6 777039718 30 YR FXD No 120 0 0 777039720 5/ 6 MONTH LIBOR No 120 2.25 6 777039763 5/ 6 MONTH LIBOR No 120 3.124 6 777039769 5/ 6 MONTH LIBOR No 120 2.25 6 777039770 5/ 6 MONTH LIBOR No 0 2.937 6 777039775 5/ 6 MONTH LIBOR No 120 2.437 6 777039780 7/ 6 MONTH LIBOR No 120 2.25 6 777039782 5/ 6 MONTH LIBOR No 0 2.25 6 777039784 30 YR FXD No 0 0 0 777039790 30 YR FXD No 0 0 0 777039803 30 YR FXD No 0 0 0 777039805 3/ 6 MONTH LIBOR No 36 2.75 6 777039823 5/ 6 MONTH LIBOR No 60 2.75 6 777039833 30 YR FXD No 0 0 0 777039838 30 YR FXD No 120 0 0 777039851 3/ 6 MONTH LIBOR No 120 2.937 6 777039859 5/ 6 MONTH LIBOR No 120 2.812 6 777039861 5/ 6 MONTH LIBOR No 120 2.874 6 777039862 30 YR FXD No 120 0 0 777039865 30 YR FXD No 0 0 0 777039869 30 YR FXD No 0 0 0 777039873 30 YR FXD No 120 0 0 777039875 30 YR FXD No 0 0 0 777039881 30 YR FXD No 0 0 0 777039882 30 YR FXD No 0 0 0 777039883 5/ 6 MONTH LIBOR No 0 3.499 6 777039889 5/ 6 MONTH LIBOR No 120 2.25 6 777039896 5/ 6 MONTH LIBOR No 120 2.937 6 777039898 30 YR FXD No 120 0 0 777039899 30 YR FXD No 120 0 0 777039907 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0 0 777040092 30 YR FXD No 0 0 0 777040097 3/1 ARM 1 YR LIBOR No 120 2.25 12 777040102 30 YR FXD No 0 0 0 777040103 30 YR FXD No 0 0 0 777040105 7/ 6 MONTH LIBOR No 120 2.562 6 777040118 5/ 6 MONTH LIBOR No 120 2.25 6 777040123 5/ 6 MONTH LIBOR No 120 2.25 6 777040126 30 YR FXD No 120 0 0 777040133 3/ 6 MONTH LIBOR No 120 2.25 6 777040135 5/ 6 MONTH LIBOR No 120 2.687 6 777040137 5/ 6 MONTH LIBOR No 120 2.25 6 777040138 30 YR FXD No 0 0 0 777040139 5/ 6 MONTH LIBOR No 120 2.25 6 777040145 3/ 6 MONTH LIBOR No 120 2.25 6 777040146 30 YR FXD No 120 0 0 777040147 5/ 6 MONTH LIBOR No 0 3.062 6 777040152 5/ 6 MONTH LIBOR No 0 2.25 6 777040158 5/ 6 MONTH LIBOR No 0 2.25 6 777040161 30 YR FXD No 120 0 0 777040169 30 YR FXD No 0 0 0 777040174 30 YR FXD No 0 0 0 777040178 5/ 6 MONTH LIBOR No 120 2.75 6 777040191 5/ 6 MONTH LIBOR No 120 2.749 6 777040196 30 YR FXD No 120 0 0 777040200 7/ 6 MONTH LIBOR No 120 2.25 6 777040201 30 YR FXD No 0 0 0 777040202 3/ 6 MONTH LIBOR No 120 2.25 6 777040205 30 YR FXD No 120 0 0 777040222 30 YR FXD No 0 0 0 777040229 30 YR FXD No 0 0 0 777040240 5/ 6 MONTH LIBOR No 120 2.25 6 777040241 3/ 6 MONTH LIBOR No 120 2.687 6 777040261 30 YR FXD No 120 0 0 777040269 30 YR FXD No 0 0 0 777040278 30 YR FXD No 0 0 0 777040297 30 YR FXD No 120 0 0 777040299 5/1 ARM 1 YR LIBOR No 120 2.25 12 777040352 7/ 6 MONTH LIBOR No 120 2.25 6 777040354 30 YR FXD No 120 0 0 777040356 3/1 ARM 1 YR LIBOR No 120 2.25 12 777040357 5/ 6 MONTH LIBOR No 120 2.25 6 777040365 5/ 6 MONTH LIBOR No 120 2.25 6 777040370 30 YR FXD No 120 0 0 777040394 5/ 6 MONTH LIBOR No 120 2.25 6 777040398 5/ 6 MONTH LIBOR No 0 2.812 6 777040399 30 YR FXD No 0 0 0 777040406 30 YR FXD No 0 0 0 777040407 30 YR FXD No 0 0 0 777040413 5/ 6 MONTH LIBOR No 0 2.25 6 777040429 30 YR FXD No 0 0 0 777040430 7/ 6 MONTH LIBOR No 120 2.25 6 777040434 3/ 6 MONTH LIBOR No 120 2.686 6 777040443 30 YR FXD No 120 0 0 777040448 5/ 6 MONTH LIBOR No 0 2.25 6 777040449 7/ 6 MONTH LIBOR No 120 2.25 6 777040478 5/ 6 MONTH LIBOR No 60 3.125 6 777040482 3/1 ARM 1 YR LIBOR No 120 2.25 12 777040484 5/ 6 MONTH LIBOR No 120 2.749 6 777040485 30 YR FXD No 0 0 0 777040487 3/ 6 MONTH LIBOR No 0 3.187 6 777040551 5/ 6 MONTH LIBOR No 0 2.25 6 777040554 5/ 6 MONTH LIBOR No 0 2.25 6 777040557 30 YR FXD No 120 0 0 777040577 5/ 6 MONTH LIBOR No 0 3.625 6 777040578 5/ 6 MONTH LIBOR No 0 2.25 6 777040593 5/ 6 MONTH LIBOR No 120 2.812 6 777040596 5/ 6 MONTH LIBOR No 120 2.812 6 777040603 5/ 6 MONTH LIBOR No 0 2.875 6 777040635 5/ 6 MONTH LIBOR No 120 2.25 6 777040639 7/ 6 MONTH LIBOR No 120 2.25 6 777040643 5/ 6 MONTH LIBOR No 120 2.25 6 777040649 5/ 6 MONTH LIBOR No 120 2.812 6 777040658 30 YR FXD No 0 0 0 777040662 30 YR FXD No 0 0 0 777040663 40 YR FXD No 0 0 0 777040671 5/ 6 MONTH LIBOR No 60 2.75 6 777040676 5/ 6 MONTH LIBOR No 0 2.875 6 777040677 30 YR FXD No 0 0 0 777040693 5/ 6 MONTH LIBOR No 120 2.25 6 777040694 30 YR FXD No 120 0 0 777040705 30 YR FXD No 0 0 0 777040708 30 YR FXD No 0 0 0 777040723 30 YR FXD No 0 0 0 777040752 30 YR FXD No 0 0 0 777040753 30 YR FXD No 0 0 0 777040761 30 YR FXD No 0 0 0 777040767 30 YR FXD No 0 0 0 777040776 5/ 6 MONTH LIBOR No 120 2.25 6 777040779 5/ 6 MONTH LIBOR No 0 2.25 6 777040790 3/ 6 MONTH LIBOR No 36 2.75 6 777040819 5/ 6 MONTH LIBOR No 60 3 6 777040820 5/ 6 MONTH LIBOR No 60 3 6 777040843 5/ 6 MONTH LIBOR No 60 2.75 6 777040918 5/ 6 MONTH LIBOR No 60 2.75 6 777041008 30 YR FXD No 0 0 0 UBS Loan ID Payment Initial Periodic Lifetime Periodic Payment Cap Adjustment Freq Rate Cap Rate Cap Cap --------------------------------------------------------------------------------------------------------------------------- 334405839 0 0 0 0 0 334532900 6 5 1 5 0 334532908 6 5 1 5 0 334532949 6 5 1 5 0 334655990 0 0 0 0 0 334659518 6 5 1 5 0 334659541 0 0 0 0 0 334688853 6 5 1 5 0 334720548 6 2 2 6 0 334720549 12 5 2 5 0 334738020 6 3 1 6 0 334738165 6 3 1 6 0 334740598 6 6 2 6 0 334740620 6 5 1 5 0 334756494 6 6 2 6 0 334756551 6 6 2 6 0 334921808 6 5 1 5 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13.125 60 8/1/2012 8/1/2012 30 777040676 2.875 12.875 60 9/1/2012 9/1/2012 30 777040677 0 0 0 1/1/1900 1/1/1900 0 777040693 2.25 12.25 60 9/1/2012 9/1/2012 30 777040694 0 0 0 1/1/1900 1/1/1900 0 777040705 0 0 0 1/1/1900 1/1/1900 0 777040708 0 0 0 1/1/1900 1/1/1900 0 777040723 0 0 0 1/1/1900 1/1/1900 0 777040752 0 0 0 1/1/1900 1/1/1900 0 777040753 0 0 0 1/1/1900 1/1/1900 0 777040761 0 0 0 1/1/1900 1/1/1900 0 777040767 0 0 0 1/1/1900 1/1/1900 0 777040776 2.25 11.375 60 9/1/2012 9/1/2012 0 777040779 2.25 15.125 60 9/1/2012 9/1/2012 0 777040790 2.75 12.875 36 7/1/2010 7/1/2010 30 777040819 3 12.75 60 8/1/2012 8/1/2012 30 777040820 3 12.75 60 8/1/2012 8/1/2012 30 777040843 2.75 12.375 60 8/1/2012 8/1/2012 30 777040918 2.75 12.375 60 9/1/2012 9/1/2012 30 777041008 0 0 0 1/1/1900 1/1/1900 0 UBS Loan ID Rounding First Pay C Payment Months to Neg Amort Neg Amort Limit hange Date Change Date Roll -------------------------------------------------------------------------------------------------------------------------------------- 334405839 0 1/1/1900 1/1/1900 0 No 0 334532900 0 12/1/2011 12/1/2011 50 No 0 334532908 0 12/1/2011 12/1/2011 50 No 0 334532949 0 12/1/2011 12/1/2011 50 No 0 334655990 0 00/00/0000 00/00/0000 0 No 0 334659518 0 1/1/2012 1/1/2012 51 No 0 334659541 0 00/00/0000 00/00/0000 0 No 0 334688853 0 12/1/2011 12/1/2011 50 No 0 334720548 0 12/1/2008 12/1/2008 14 No 0 334720549 0 7/1/2013 7/1/2013 69 No 0 334738020 0 2/1/2009 2/1/2009 16 No 0 334738165 0 2/1/2009 2/1/2009 16 No 0 334740598 0 1/1/2012 1/1/2012 51 No 0 334740620 0 2/1/2012 2/1/2012 52 No 0 334756494 0 2/1/2012 2/1/2012 52 No 0 334756551 0 1/1/2012 1/1/2012 51 No 0 334921808 0 1/1/2012 1/1/2012 51 No 0 335664299 0 00/00/0000 00/00/0000 0 No 0 335664300 0 00/00/0000 00/00/0000 0 No 0 335664305 0 00/00/0000 00/00/0000 0 No 0 335664316 0 00/00/0000 00/00/0000 0 No 0 335664354 0 00/00/0000 00/00/0000 0 No 0 335664362 0 00/00/0000 00/00/0000 0 No 0 335664376 0 00/00/0000 00/00/0000 0 No 0 335664377 0 00/00/0000 00/00/0000 0 No 0 335664379 0 00/00/0000 00/00/0000 0 No 0 335664387 0 00/00/0000 00/00/0000 0 No 0 335664390 0 00/00/0000 00/00/0000 0 No 0 335664393 0 00/00/0000 00/00/0000 0 No 0 335736334 0 00/00/0000 00/00/0000 0 No 0 335736335 0 00/00/0000 00/00/0000 0 No 0 335736339 0 1/1/1900 1/1/1900 0 No 0 335736340 0 1/1/1900 1/1/1900 0 No 0 335736342 0 1/1/1900 1/1/1900 0 No 0 335736344 0 1/1/1900 1/1/1900 0 No 0 335736361 0 1/1/2010 1/1/2010 27 No 0 335751199 0 00/00/0000 00/00/0000 0 No 0 335751203 0 00/00/0000 00/00/0000 0 No 0 335751204 0 00/00/0000 00/00/0000 0 No 0 335751227 0 00/00/0000 00/00/0000 0 No 0 335847961 0 1/1/1900 1/1/1900 0 No 0 335847965 0 12/1/2011 12/1/2011 50 No 0 335847968 0 11/1/2011 11/1/2011 49 No 0 777005164 0 1/1/1900 1/1/1900 0 No 0 777008436 0 1/1/1900 1/1/1900 0 No 0 777008553 0 10/1/2010 10/1/2010 36 No 0 777008555 0 10/1/2010 10/1/2010 36 No 0 777008649 0 10/1/2007 4/1/2008 6 No 0 777010295 0 1/1/1900 1/1/1900 0 No 0 777010304 0 8/1/2008 8/1/2008 10 No 0 777010306 0 9/1/2008 9/1/2008 11 No 0 777010315 0 1/1/1900 1/1/1900 0 No 0 777011692 0 1/1/1900 1/1/1900 0 No 0 777017938 0 1/1/1900 1/1/1900 0 No 0 777018098 0 1/1/1900 1/1/1900 0 No 0 777018345 0 1/1/1900 1/1/1900 0 No 0 777019969 0 8/1/2013 8/1/2013 70 No 0 777022040 0 1/1/1900 1/1/1900 0 No 0 777022104 0 1/1/1900 1/1/1900 0 No 0 777022731 0 1/1/1900 1/1/1900 0 No 0 777022867 0 1/1/1900 1/1/1900 0 No 0 777022899 0 1/1/1900 1/1/1900 0 No 0 777023524 0 1/1/1900 1/1/1900 0 No 0 777024142 0 1/1/1900 1/1/1900 0 No 0 777024145 0 1/1/1900 1/1/1900 0 No 0 777024357 0 1/1/1900 1/1/1900 0 No 0 777024375 0 10/1/2011 10/1/2011 48 No 0 777024623 0 1/1/1900 1/1/1900 0 No 0 777024877 0 12/1/2011 12/1/2011 50 No 0 777024948 0 1/1/1900 1/1/1900 0 No 0 777025030 0 1/1/1900 1/1/1900 0 No 0 777025382 0 1/1/1900 1/1/1900 0 No 0 777025988 0 11/1/2011 11/1/2011 49 No 0 777026173 0 1/1/1900 1/1/1900 0 No 0 777026199 0 1/1/1900 1/1/1900 0 No 0 777026269 0 1/1/2012 1/1/2012 51 No 0 777026273 0 12/1/2011 12/1/2011 50 No 0 777026468 0 12/1/2013 12/1/2013 74 No 0 777026595 0 1/1/1900 1/1/1900 0 No 0 777026750 0 1/1/2012 1/1/2012 51 No 0 777026765 0 1/1/2014 1/1/2014 75 No 0 777027150 0 1/1/1900 1/1/1900 0 No 0 777027202 0 1/1/2012 1/1/2012 51 No 0 777027266 0 1/1/1900 1/1/1900 0 No 0 777027293 0 1/1/1900 1/1/1900 0 No 0 777027474 0 1/1/1900 1/1/1900 0 No 0 777027538 0 1/1/1900 1/1/1900 0 No 0 777027649 0 1/1/2012 1/1/2012 51 No 0 777027783 0 1/1/1900 1/1/1900 0 No 0 777028136 0 1/1/2012 1/1/2012 51 No 0 777028237 0 1/1/2014 1/1/2014 75 No 0 777028498 0 1/1/1900 1/1/1900 0 No 0 777028656 0 1/1/1900 1/1/1900 0 No 0 777028666 0 1/1/1900 1/1/1900 0 No 0 777028816 0 1/1/1900 1/1/1900 0 No 0 777028834 0 1/1/1900 1/1/1900 0 No 0 777028888 0 1/1/1900 1/1/1900 0 No 0 777028924 0 1/1/1900 1/1/1900 0 No 0 777028942 0 2/1/2014 2/1/2014 76 No 0 777028979 0 1/1/1900 1/1/1900 0 No 0 777028989 0 1/1/1900 1/1/1900 0 No 0 777029007 0 1/1/1900 1/1/1900 0 No 0 777029082 0 1/1/1900 1/1/1900 0 No 0 777029110 0 1/1/1900 1/1/1900 0 No 0 777029183 0 1/1/1900 1/1/1900 0 No 0 777029204 0 1/1/1900 1/1/1900 0 No 0 777029210 0 1/1/1900 1/1/1900 0 No 0 777029320 0 1/1/1900 1/1/1900 0 No 0 777029383 0 1/1/1900 1/1/1900 0 No 0 777029420 0 1/1/1900 1/1/1900 0 No 0 777029431 0 1/1/1900 1/1/1900 0 No 0 777029449 0 1/1/2012 1/1/2012 51 No 0 777029455 0 1/1/1900 1/1/1900 0 No 0 777029589 0 1/1/1900 1/1/1900 0 No 0 777029659 0 1/1/1900 1/1/1900 0 No 0 777029734 0 1/1/1900 1/1/1900 0 No 0 777029774 0 1/1/1900 1/1/1900 0 No 0 777029776 0 1/1/1900 1/1/1900 0 No 0 777029777 0 1/1/1900 1/1/1900 0 No 0 777029799 0 1/1/1900 1/1/1900 0 No 0 777029815 0 1/1/1900 1/1/1900 0 No 0 777029931 0 1/1/1900 1/1/1900 0 No 0 777029950 0 1/1/1900 1/1/1900 0 No 0 777029979 0 1/1/1900 1/1/1900 0 No 0 777029981 0 1/1/1900 1/1/1900 0 No 0 777030042 0 1/1/1900 1/1/1900 0 No 0 777030211 0 1/1/1900 1/1/1900 0 No 0 777030263 0 1/1/1900 1/1/1900 0 No 0 777030286 0 1/1/1900 1/1/1900 0 No 0 777030296 0 1/1/1900 1/1/1900 0 No 0 777030324 0 1/1/1900 1/1/1900 0 No 0 777030335 0 1/1/1900 1/1/1900 0 No 0 777030414 0 3/1/2012 3/1/2012 53 No 0 777030515 0 1/1/1900 1/1/1900 0 No 0 777030637 0 1/1/1900 1/1/1900 0 No 0 777030643 0 1/1/1900 1/1/1900 0 No 0 777030846 0 1/1/1900 1/1/1900 0 No 0 777030944 0 1/1/1900 1/1/1900 0 No 0 777031066 0 1/1/1900 1/1/1900 0 No 0 777031118 0 1/1/1900 1/1/1900 0 No 0 777031127 0 1/1/1900 1/1/1900 0 No 0 777031148 0 3/1/2012 3/1/2012 53 No 0 777031374 0 1/1/1900 1/1/1900 0 No 0 777031379 0 1/1/1900 1/1/1900 0 No 0 777031569 0 1/1/1900 1/1/1900 0 No 0 777031602 0 3/1/2014 3/1/2014 77 No 0 777031677 0 3/1/2012 3/1/2012 53 No 0 777031683 0 1/1/1900 1/1/1900 0 No 0 777031704 0 1/1/1900 1/1/1900 0 No 0 777031705 0 1/1/1900 1/1/1900 0 No 0 777031766 0 1/1/1900 1/1/1900 0 No 0 777031783 0 3/1/2014 3/1/2014 77 No 0 777031836 0 4/1/2010 4/1/2010 30 No 0 777031906 0 4/1/2012 4/1/2012 54 No 0 777031978 0 4/1/2012 4/1/2012 54 No 0 777032001 0 1/1/1900 1/1/1900 0 No 0 777032047 0 1/1/1900 1/1/1900 0 No 0 777032061 0 1/1/1900 1/1/1900 0 No 0 777032109 0 1/1/1900 1/1/1900 0 No 0 777032158 0 1/1/1900 1/1/1900 0 No 0 777032182 0 1/1/1900 1/1/1900 0 No 0 777032185 0 1/1/1900 1/1/1900 0 No 0 777032311 0 4/1/2012 4/1/2012 54 No 0 777032372 0 4/1/2012 4/1/2012 54 No 0 777032373 0 4/1/2012 4/1/2012 54 No 0 777032448 0 1/1/1900 1/1/1900 0 No 0 777032451 0 4/1/2012 4/1/2012 54 No 0 777032459 0 1/1/1900 1/1/1900 0 No 0 777032614 0 5/1/2012 5/1/2012 55 No 0 777032632 0 1/1/1900 1/1/1900 0 No 0 777032637 0 1/1/1900 1/1/1900 0 No 0 777032699 0 1/1/1900 1/1/1900 0 No 0 777032712 0 1/1/1900 1/1/1900 0 No 0 777032734 0 4/1/2010 4/1/2010 30 No 0 777032756 0 1/1/1900 1/1/1900 0 No 0 777032767 0 4/1/2012 4/1/2012 54 No 0 777032790 0 1/1/1900 1/1/1900 0 No 0 777032859 0 1/1/1900 1/1/1900 0 No 0 777032875 0 1/1/1900 1/1/1900 0 No 0 777032886 0 1/1/1900 1/1/1900 0 No 0 777032887 0 1/1/1900 1/1/1900 0 No 0 777032914 0 1/1/1900 1/1/1900 0 No 0 777032945 0 1/1/1900 1/1/1900 0 No 0 777033051 0 4/1/2010 4/1/2010 30 No 0 777033075 0 1/1/1900 1/1/1900 0 No 0 777033293 0 1/1/1900 1/1/1900 0 No 0 777033294 0 4/1/2010 4/1/2010 30 No 0 777033302 0 5/1/2012 5/1/2012 55 No 0 777033303 0 1/1/1900 1/1/1900 0 No 0 777033312 0 1/1/1900 1/1/1900 0 No 0 777033353 0 1/1/1900 1/1/1900 0 No 0 777033357 0 1/1/1900 1/1/1900 0 No 0 777033367 0 1/1/1900 1/1/1900 0 No 0 777033463 0 5/1/2010 5/1/2010 31 No 0 777033513 0 1/1/1900 1/1/1900 0 No 0 777033559 0 1/1/1900 1/1/1900 0 No 0 777033569 0 1/1/1900 1/1/1900 0 No 0 777033613 0 5/1/2012 5/1/2012 55 No 0 777033633 0 1/1/1900 1/1/1900 0 No 0 777033634 0 1/1/1900 1/1/1900 0 No 0 777033661 0 1/1/1900 1/1/1900 0 No 0 777033665 0 1/1/1900 1/1/1900 0 No 0 777033688 0 5/1/2014 5/1/2014 79 No 0 777033703 0 1/1/1900 1/1/1900 0 No 0 777033797 0 5/1/2012 5/1/2012 55 No 0 777033923 0 1/1/1900 1/1/1900 0 No 0 777033927 0 1/1/1900 1/1/1900 0 No 0 777033998 0 1/1/1900 1/1/1900 0 No 0 777034066 0 1/1/1900 1/1/1900 0 No 0 777034134 0 5/1/2012 5/1/2012 55 No 0 777034137 0 5/1/2012 5/1/2012 55 No 0 777034177 0 5/1/2014 5/1/2014 79 No 0 777034246 0 1/1/1900 1/1/1900 0 No 0 777034318 0 5/1/2012 5/1/2012 55 No 0 777034336 0 1/1/1900 1/1/1900 0 No 0 777034338 0 1/1/1900 1/1/1900 0 No 0 777034365 0 1/1/1900 1/1/1900 0 No 0 777034371 0 1/1/1900 1/1/1900 0 No 0 777034378 0 1/1/1900 1/1/1900 0 No 0 777034387 0 1/1/1900 1/1/1900 0 No 0 777034427 0 1/1/1900 1/1/1900 0 No 0 777034429 0 1/1/1900 1/1/1900 0 No 0 777034739 0 1/1/1900 1/1/1900 0 No 0 777034983 0 6/1/2010 6/1/2010 32 No 0 777035007 0 1/1/1900 1/1/1900 0 No 0 777035170 0 1/1/1900 1/1/1900 0 No 0 777035245 0 1/1/1900 1/1/1900 0 No 0 777035278 0 1/1/1900 1/1/1900 0 No 0 777035300 0 1/1/1900 1/1/1900 0 No 0 777035335 0 1/1/1900 1/1/1900 0 No 0 777035428 0 1/1/1900 1/1/1900 0 No 0 777035496 0 6/1/2012 6/1/2012 56 No 0 777035617 0 4/1/2012 4/1/2012 54 No 0 777035624 0 1/1/1900 1/1/1900 0 No 0 777035710 0 1/1/1900 1/1/1900 0 No 0 777035723 0 6/1/2012 6/1/2012 56 No 0 777035760 0 1/1/1900 1/1/1900 0 No 0 777035762 0 1/1/1900 1/1/1900 0 No 0 777035786 0 1/1/1900 1/1/1900 0 No 0 777035933 0 1/1/1900 1/1/1900 0 No 0 777035949 0 1/1/1900 1/1/1900 0 No 0 777035988 0 6/1/2012 6/1/2012 56 No 0 777035997 0 1/1/1900 1/1/1900 0 No 0 777035998 0 1/1/1900 1/1/1900 0 No 0 777036128 0 1/1/1900 1/1/1900 0 No 0 777036313 0 7/1/2012 7/1/2012 57 No 0 777036315 0 8/1/2012 8/1/2012 58 No 0 777036329 0 1/1/1900 1/1/1900 0 No 0 777036349 0 1/1/1900 1/1/1900 0 No 0 777036369 0 1/1/1900 1/1/1900 0 No 0 777036443 0 1/1/1900 1/1/1900 0 No 0 777036459 0 7/1/2012 7/1/2012 57 No 0 777036524 0 1/1/1900 1/1/1900 0 No 0 777036527 0 7/1/2012 7/1/2012 57 No 0 777036579 0 1/1/1900 1/1/1900 0 No 0 777036689 0 8/1/2012 8/1/2012 58 No 0 777036692 0 7/1/2012 7/1/2012 57 No 0 777036817 0 1/1/1900 1/1/1900 0 No 0 777036834 0 1/1/1900 1/1/1900 0 No 0 777036845 0 1/1/1900 1/1/1900 0 No 0 777036887 0 9/1/2012 9/1/2012 59 No 0 777036906 0 1/1/1900 1/1/1900 0 No 0 777036959 0 1/1/1900 1/1/1900 0 No 0 777036960 0 1/1/1900 1/1/1900 0 No 0 777036981 0 9/1/2012 9/1/2012 59 No 0 777037017 0 1/1/1900 1/1/1900 0 No 0 777037023 0 1/1/1900 1/1/1900 0 No 0 777037059 0 1/1/1900 1/1/1900 0 No 0 777037063 0 1/1/1900 1/1/1900 0 No 0 777037087 0 7/1/2012 7/1/2012 57 No 0 777037098 0 8/1/2012 8/1/2012 58 No 0 777037153 0 9/1/2012 9/1/2012 59 No 0 777037155 0 9/1/2012 9/1/2012 59 No 0 777037186 0 1/1/1900 1/1/1900 0 No 0 777037187 0 1/1/1900 1/1/1900 0 No 0 777037209 0 1/1/1900 1/1/1900 0 No 0 777037225 0 1/1/1900 1/1/1900 0 No 0 777037237 0 1/1/1900 1/1/1900 0 No 0 777037276 0 1/1/1900 1/1/1900 0 No 0 777037277 0 1/1/1900 1/1/1900 0 No 0 777037278 0 1/1/1900 1/1/1900 0 No 0 777037283 0 1/1/1900 1/1/1900 0 No 0 777037299 0 7/1/2010 7/1/2010 33 No 0 777037303 0 9/1/2014 9/1/2014 83 No 0 777037383 0 1/1/1900 1/1/1900 0 No 0 777037389 0 9/1/2012 9/1/2012 59 No 0 777037399 0 1/1/1900 1/1/1900 0 No 0 777037433 0 9/1/2012 9/1/2012 59 No 0 777037445 0 1/1/1900 1/1/1900 0 No 0 777037471 0 1/1/1900 1/1/1900 0 No 0 777037473 0 5/1/2012 5/1/2012 55 No 0 777037563 0 9/1/2014 9/1/2014 83 No 0 777037566 0 1/1/1900 1/1/1900 0 No 0 777037583 0 1/1/1900 1/1/1900 0 No 0 777037636 0 1/1/1900 1/1/1900 0 No 0 777037637 0 1/1/1900 1/1/1900 0 No 0 777037640 0 1/1/1900 1/1/1900 0 No 0 777037643 0 1/1/1900 1/1/1900 0 No 0 777037665 0 1/1/1900 1/1/1900 0 No 0 777037670 0 8/1/2010 8/1/2010 34 No 0 777037677 0 1/1/1900 1/1/1900 0 No 0 777037717 0 1/1/1900 1/1/1900 0 No 0 777037727 0 1/1/1900 1/1/1900 0 No 0 777037770 0 1/1/1900 1/1/1900 0 No 0 777037795 0 1/1/1900 1/1/1900 0 No 0 777037811 0 1/1/1900 1/1/1900 0 No 0 777037814 0 1/1/1900 1/1/1900 0 No 0 777037840 0 1/1/1900 1/1/1900 0 No 0 777037846 0 1/1/1900 1/1/1900 0 No 0 777037864 0 1/1/1900 1/1/1900 0 No 0 777037866 0 1/1/1900 1/1/1900 0 No 0 777037875 0 9/1/2012 9/1/2012 59 No 0 777037891 0 1/1/1900 1/1/1900 0 No 0 777037895 0 1/1/1900 1/1/1900 0 No 0 777037929 0 1/1/1900 1/1/1900 0 No 0 777037940 0 1/1/1900 1/1/1900 0 No 0 777037945 0 1/1/1900 1/1/1900 0 No 0 777037954 0 1/1/1900 1/1/1900 0 No 0 777037986 0 1/1/1900 1/1/1900 0 No 0 777037991 0 1/1/1900 1/1/1900 0 No 0 777038024 0 1/1/1900 1/1/1900 0 No 0 777038029 0 9/1/2014 9/1/2014 83 No 0 777038040 0 1/1/1900 1/1/1900 0 No 0 777038041 0 1/1/1900 1/1/1900 0 No 0 777038055 0 1/1/1900 1/1/1900 0 No 0 777038064 0 8/1/2012 8/1/2012 58 No 0 777038075 0 1/1/1900 1/1/1900 0 No 0 777038079 0 1/1/1900 1/1/1900 0 No 0 777038091 0 1/1/1900 1/1/1900 0 No 0 777038103 0 1/1/1900 1/1/1900 0 No 0 777038107 0 8/1/2012 8/1/2012 58 No 0 777038143 0 9/1/2010 9/1/2010 35 No 0 777038147 0 1/1/1900 1/1/1900 0 No 0 777038162 0 1/1/1900 1/1/1900 0 No 0 777038175 0 1/1/1900 1/1/1900 0 No 0 777038181 0 1/1/1900 1/1/1900 0 No 0 777038182 0 9/1/2012 9/1/2012 59 No 0 777038185 0 1/1/1900 1/1/1900 0 No 0 777038191 0 8/1/2012 8/1/2012 58 No 0 777038198 0 1/1/1900 1/1/1900 0 No 0 777038199 0 1/1/1900 1/1/1900 0 No 0 777038204 0 1/1/1900 1/1/1900 0 No 0 777038206 0 9/1/2012 9/1/2012 59 No 0 777038227 0 1/1/1900 1/1/1900 0 No 0 777038229 0 1/1/1900 1/1/1900 0 No 0 777038235 0 9/1/2010 9/1/2010 35 No 0 777038239 0 9/1/2012 9/1/2012 59 No 0 777038255 0 1/1/1900 1/1/1900 0 No 0 777038256 0 1/1/1900 1/1/1900 0 No 0 777038264 0 1/1/1900 1/1/1900 0 No 0 777038270 0 1/1/1900 1/1/1900 0 No 0 777038289 0 1/1/1900 1/1/1900 0 No 0 777038312 0 1/1/1900 1/1/1900 0 No 0 777038331 0 9/1/2012 9/1/2012 59 No 0 777038332 0 9/1/2010 9/1/2010 35 No 0 777038335 0 1/1/1900 1/1/1900 0 No 0 777038349 0 1/1/1900 1/1/1900 0 No 0 777038359 0 1/1/1900 1/1/1900 0 No 0 777038362 0 1/1/1900 1/1/1900 0 No 0 777038363 0 1/1/1900 1/1/1900 0 No 0 777038367 0 1/1/1900 1/1/1900 0 No 0 777038375 0 1/1/1900 1/1/1900 0 No 0 777038377 0 1/1/1900 1/1/1900 0 No 0 777038378 0 1/1/1900 1/1/1900 0 No 0 777038382 0 1/1/1900 1/1/1900 0 No 0 777038383 0 8/1/2014 8/1/2014 82 No 0 777038401 0 1/1/1900 1/1/1900 0 No 0 777038417 0 1/1/1900 1/1/1900 0 No 0 777038420 0 9/1/2010 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49.8 Lender Paid MI 35 97688664 777031569 37.6 No MI 0 777031602 43.7 Lender Paid MI 25 98744029 777031677 49.8 PMI Mortgage Insurance 30 27-82-0 777031683 48.3 MGIC 25 24457506 777031704 36 Lender Paid MI 30 66481778 777031705 35.97 Lender Paid MI 30 66481743 777031766 39.9 No MI 0 777031783 49.5 No MI 0 777031836 44.1 United Guaranty 30 11106312 777031906 35.8 No MI 0 777031978 44.7 No MI 0 777032001 0 No MI 0 777032047 44.06 0 777032061 48.5 No MI 0 777032109 40.6 No MI 0 777032158 47.5 Lender Paid MI 25 97688672 777032182 0 No MI 0 777032185 0 No MI 0 777032311 36.2 No MI 0 777032372 28.8 No MI 0 777032373 28.8 No MI 0 777032448 0 No MI 0 777032451 0 No MI 0 777032459 47.8 Lender Paid MI 30 97688559 777032614 46 No MI 0 777032632 0 No MI 0 777032637 31.03 No MI 0 777032699 0 No MI 0 777032712 0 No MI 0 777032734 41.2 No MI 0 777032756 44.32 PMI Mortgage Insurance 30 66578321 777032767 13.8 United Guaranty 30 11137516 777032790 38.12 PMI Mortgage Insurance 30 66588084 777032859 44.6 Lender Paid MI 35 53226892 777032875 0 No MI 0 777032886 38.8 No MI 0 777032887 46.9 No MI 0 777032914 20.72 No MI 0 777032945 36.82 No MI 0 777033051 0 No MI 0 777033075 37.9 No MI 0 777033293 6.47 No MI 0 777033294 48.5 Lender Paid MI 25 97688583 777033302 28.15 0 777033303 37.13 PMI Mortgage Insurance 30 66650073 777033312 27.5 No MI 0 777033353 44.58 No MI 0 66500161 777033357 45.54 No MI 0 777033367 37.11 No MI 0 777033463 50.2 No MI 0 777033513 27.92 No MI 0 777033559 39.2 Radian Guaranty 25 99620298 777033569 37.16 No MI 0 777033613 42.6 Lender Paid MI 25 97689032 777033633 34.35 PMI Mortgage Insurance 30 6663370 777033634 37.87 Lender Paid MI 30 97688770 777033661 27.35 No MI 0 777033665 38.95 Lender Paid MI 30 66856372 777033688 47.91 No MI 0 777033703 0 No MI 0 777033797 43.1 Lender Paid MI 25 97976503 777033923 37.91 Lender Paid MI 35 98429883 777033927 47.27 Lender Paid MI 35 98429891 777033998 32.8 No MI 0 777034066 41.5 No MI 0 777034134 48.1 No MI 0 777034137 39.8 Lender Paid MI 30 97689130 777034177 0 PMI Mortgage Insurance 25 66815561 777034246 29.91 Lender Paid MI 30 66856631 777034318 49.1 No MI 0 777034336 34.8 No MI 0 777034338 38.9 No MI 0 777034365 44.25 Lender Paid MI 35 98429913 777034371 48.67 No MI 0 777034378 37.93 Lender Paid MI 35 97689016 777034387 0 No MI 0 777034427 38.09 PMI Mortgage Insurance 12 66872424 777034429 0 MI (Company Unknown at Bid) 30 66745031 777034739 35.7 No MI 0 777034983 0 No MI 0 777035007 35.42 No MI 0 777035170 39.4 No MI 0 777035245 41.5 No MI 0 777035278 43.4 No MI 0 777035300 48.5 No MI 0 777035335 33.5 No MI 0 777035428 29.3 Lender Paid MI 30 98203214 777035496 0 Lender Paid MI 25 98429930 777035617 42.3 Lender Paid MI 35 53226893 777035624 36.9 No MI 0 777035710 20.17 No MI 0 777035723 12.9 No MI 0 777035760 0 No MI 0 777035762 43.7 Lender Paid MI 35 98473530 777035786 0 No MI 0 777035933 0 No MI 0 777035949 19.7 Lender Paid MI 25 98473548 777035988 38.6 No MI 0 777035997 34.3 No MI 0 777035998 34.4 No MI 0 777036128 40.98 Lender Paid MI 30 53226894 777036313 35 No MI 0 777036315 30.1 No MI 0 777036329 0 No MI 0 777036349 36.2 No MI 0 777036369 35.22 No MI 0 777036443 42.7 Lender Paid MI 35 98429956 777036459 38.7 No MI 0 777036524 44.5 No MI 0 777036527 0 No MI 0 777036579 0 No MI 0 777036689 42.8 No MI 0 777036692 0 MGIC 25 24887024 777036817 48 PMI Mortgage Insurance 30 97661065 777036834 41.4 No MI 0 777036845 45.9 No MI 0 777036887 50.61 Lender Paid MI 25 53226895 777036906 29.97 No MI 0 777036959 0 No MI 0 777036960 0 No MI 0 777036981 38.2 Lender Paid MI 30 53226896 777037017 25.6 No MI 0 777037023 47.6 Lender Paid MI 30 98473556 777037059 47.23 No MI 0 777037063 25.4 No MI 0 777037087 46.1 Lender Paid MI 25 98429981 777037098 43.2 No MI 0 777037153 43.56 No MI 0 777037155 43.56 No MI 0 777037186 0 No MI 0 777037187 38.1 United Guaranty 25 11252373 777037209 0 No MI 0 777037225 0 No MI 0 777037237 14.68 No MI 0 777037276 38.16 No MI 0 777037277 38.16 No MI 0 777037278 38.64 No MI 0 777037283 47.3 Lender Paid MI 30 98473572 777037299 46.5 Lender Paid MI 30 98429972 777037303 46.73 Lender Paid MI 30 53226897 777037383 0 PMI Mortgage Insurance 25 98074651 777037389 44.83 Lender Paid MI 30 53226898 777037399 47.9 Lender Paid MI 30 53226899 777037433 34.24 Lender Paid MI 30 53226900 777037445 30.5 No MI 0 777037471 0 No MI 0 777037473 10.2 No MI 0 777037563 46.76 Lender Paid MI 30 53226901 777037566 0 PMI Mortgage Insurance 12 98250905 777037583 39.52 PMI Mortgage Insurance 25 98122796 777037636 0 No MI 0 777037637 46.7 No MI 0 777037640 39.3 No MI 0 777037643 25.1 No MI 0 777037665 0 Lender Paid MI 25 777037670 39 Lender Paid MI 12 98473581 777037677 29.1 Lender Paid MI 30 98473564 777037717 29.42 Radian Guaranty 25 99711071 777037727 41.06 Lender Paid MI 25 53226902 777037770 42.87 PMI Mortgage Insurance 12 98171479 777037795 60.1 Lender Paid MI 30 53226903 777037811 44.3 Lender Paid MI 25 98473629 777037814 41.5 Lender Paid MI 30 53226904 777037840 41 Lender Paid MI 25 98473599 777037846 41.87 No MI 0 777037864 41.77 Lender Paid MI 30 98429948 777037866 43.44 No MI 0 777037875 0 No MI 0 777037891 38.4 Lender Paid MI 30 53226905 777037895 0 No MI 0 777037929 37.1 GEMICO 25 9605790270 777037940 32.32 No MI 0 777037945 45.33 Lender Paid MI 30 98429921 777037954 0 No MI 0 777037986 45.7 No MI 0 777037991 28.7 No MI 0 777038024 42.4 Lender Paid MI 25 53226906 777038029 0 No MI 0 777038040 39.83 Lender Paid MI 25 53226907 777038041 38.75 No MI 0 777038055 43.72 Lender Paid MI 30 53226908 777038064 0 No MI 0 777038075 0 No MI 0 777038079 39.62 No MI 0 777038091 46.9 No MI 0 777038103 23.6 Lender Paid MI 35 777038107 46.1 Lender Paid MI 25 98429999 777038143 45.27 No MI 0 777038147 35.9 MGIC 30 24840295 777038162 49 No MI 0 777038175 17 Lender Paid MI 25 98744053 777038181 46.4 PMI Mortgage Insurance 12 98055321 777038182 42.8 Lender Paid MI 30 53227556 777038185 17 Lender Paid MI 25 53226909 777038191 42.8 Lender Paid MI 30 98473602 777038198 26.5 GEMICO 25 9605857952 777038199 0 No MI 0 777038204 47.75 MI (Company Unknown at Bid) 25 98371079 777038206 43.02 Lender Paid MI 25 53226910 777038227 21.64 No MI 0 777038229 42.33 Lender Paid MI 25 53226911 777038235 0 No MI 0 777038239 0 No MI 0 777038255 43.7 No MI 0 777038256 26.9 No MI 0 777038264 0 No MI 0 777038270 27.57 Lender Paid MI 30 53226912 777038289 0 PMI Mortgage Insurance 30 98148124 777038312 43.6 Lender Paid MI 30 53226913 777038331 0 No MI 0 777038332 30.85 No MI 0 777038335 38.5 Lender Paid MI 25 98744045 777038349 0 No MI 0 777038359 0 Lender Paid MI 25 98473645 777038362 0 No MI 0 777038363 35.7 No MI 0 777038367 37.2 No MI 0 777038375 12.7 Lender Paid MI 30 53226914 777038377 46.56 Lender Paid MI 30 98744061 777038378 48.49 Lender Paid MI 30 53226915 777038382 29.1 No MI 0 777038383 35.96 PMI Mortgage Insurance 25 98075615 777038401 0 No MI 0 777038417 60.95 Lender Paid MI 30 53226916 777038420 38.21 No MI 0 777038423 34.3 No MI 0 777038425 28 Lender Paid MI 30 53226917 777038435 47.9 No MI 0 777038462 20.99 No MI 0 777038466 46.95 No MI 0 777038500 33.9 No MI 0 777038502 0 No MI 0 777038505 44.45 Lender Paid MI 35 53226918 777038526 0 Radian Guaranty 25 99681592 777038540 20.99 No MI 0 777038542 20.99 No MI 0 777038543 32.25 No MI 0 777038557 20.99 No MI 0 777038558 20.99 No MI 0 777038564 39.72 Lender Paid MI 25 53226919 777038589 48.35 No MI 0 777038592 0 No MI 0 777038599 40.1 Lender Paid MI 25 98429964 777038604 29.09 Radian Guaranty 25 99404969 777038610 35 Lender Paid MI 30 777038630 0 Lender Paid MI 25 53226920 777038634 27.2 No MI 0 777038637 0 No MI 0 777038644 41.45 No MI 0 777038649 55.37 Lender Paid MI 30 98744011 777038659 0 No MI 0 777038676 0 Lender Paid MI 25 53226921 777038687 0 No MI 0 777038694 31.02 Lender Paid MI 30 53226922 777038701 0 No MI 0 777038709 41.6 Lender Paid MI 25 53226923 777038710 12.7 No MI 0 777038728 44.05 PMI Mortgage Insurance 25 98426485 777038729 16.35 No MI 0 777038749 18.65 No MI 0 777038769 0 No MI 0 777038784 0 Lender Paid MI 30 53226924 777038791 0 No MI 0 777038804 0 No MI 0 777038805 45.5 Lender Paid MI 30 53226925 777038814 23 Lender Paid MI 30 53226926 777038821 32.67 No MI 0 777038825 47.8 Lender Paid MI 30 98430008 777038831 0 PMI Mortgage Insurance 25 98138439 777038834 14.04 No MI 0 777038842 38.1 Lender Paid MI 30 53226927 777038852 42.13 Lender Paid MI 30 98473637 777038855 35.82 Lender Paid MI 30 98473611 777038877 0 No MI 0 777038882 0 No MI 0 777038891 0 PMI Mortgage Insurance 25 98185381 777038919 46.4 United Guaranty 25 11419933 777038933 29.99 No MI 0 777038953 0 PMI Mortgage Insurance 25 98171037 777038960 29.52 No MI 0 777038962 45.45 Lender Paid MI 30 53226928 777038965 38.28 Lender Paid MI 30 53226929 777038966 21.27 Lender Paid MI 12 53226930 777038967 0 No MI 0 777038969 0 MGIC 25 25032898 777038979 0 No MI 0 777038984 25.4 Lender Paid MI 30 53226931 777039004 0 No MI 0 777039016 0 No MI 0 777039023 0 No MI 0 777039027 57.26 Lender Paid MI 30 53226932 777039034 0 No MI 0 777039041 0 No MI 0 777039046 42.24 Lender Paid MI 25 53226933 777039049 37.86 No MI 0 777039056 25.08 No MI 0 777039060 36.89 No MI 0 777039066 39.05 No MI 0 777039068 28.41 No MI 0 777039069 29.65 PMI Mortgage Insurance 25 98322035 777039099 29.98 Lender Paid MI 35 53226934 777039112 33.55 No MI 0 777039119 47.73 Lender Paid MI 30 53226935 777039123 0 No MI 0 777039124 47.7 Lender Paid MI 12 53226936 777039125 30.1 Lender Paid MI 30 53226937 777039143 42.85 Lender Paid MI 30 53226938 777039144 25.34 Lender Paid MI 25 53226939 777039146 0 No MI 0 777039167 34.79 No MI 0 777039191 26.72 PMI Mortgage Insurance 25 98304894 777039195 29.32 0 777039197 13.12 Lender Paid MI 30 98744096 777039205 26.8 Lender Paid MI 30 53226940 777039218 61.22 Lender Paid MI 25 53226941 777039221 45.61 Lender Paid MI 30 53227555 777039260 34.09 Lender Paid MI 25 53226942 777039274 0 No MI 0 777039275 53.8 No MI 0 777039278 29.99 No MI 0 777039281 41.36 Lender Paid MI 30 53227552 777039295 22.5 Lender Paid MI 25 53226943 777039303 0 No MI 0 777039313 48.9 No MI 0 777039314 56.2 Lender Paid MI 12 53226944 777039315 45.86 Lender Paid MI 30 53226945 777039316 0 No MI 0 777039319 43 Lender Paid MI 30 53226946 777039323 37.21 No MI 0 777039329 0 No MI 0 777039333 0 No MI 0 777039336 36.5 Lender Paid MI 30 53226947 777039338 35.92 Lender Paid MI 30 53226948 777039339 42.6 No MI 0 777039345 24.48 Lender Paid MI 30 53226949 777039349 37.28 No MI 0 777039359 49.9 Lender Paid MI 30 53226950 777039364 47.75 PMI Mortgage Insurance 25 98371087 777039366 48.9 Lender Paid MI 30 53227557 777039371 0 No MI 0 777039388 50.3 Radian Guaranty 25 99606744 777039395 45.1 Lender Paid MI 30 53226951 777039396 0 No MI 0 777039410 35.99 PMI Mortgage Insurance 12 98258566 777039419 21.4 No MI 0 777039420 0 No MI 0 777039426 45.53 Lender Paid MI 25 53226952 777039430 35.51 Lender Paid MI 25 53226953 777039434 36.85 Lender Paid MI 25 53226954 777039439 39.94 Lender Paid MI 25 53226955 777039446 0 Lender Paid MI 25 53226956 777039455 32 No MI 0 777039457 43.84 Radian Guaranty 25 99703112 777039458 26.28 No MI 0 777039489 0 No MI 0 777039491 19.1 Lender Paid MI 30 53226957 777039494 0 No MI 0 777039503 49.77 No MI 0 777039521 48.42 Lender Paid MI 30 53226958 777039524 36.09 Lender Paid MI 25 53226959 777039536 34.71 Lender Paid MI 30 53226960 777039542 29.45 Lender Paid MI 30 53226961 777039547 35.3 Lender Paid MI 30 53226962 777039550 0 No MI 0 777039551 27.92 No MI 0 777039552 49.88 Lender Paid MI 25 53226963 777039553 49.88 Lender Paid MI 25 98744100 777039562 40.9 Lender Paid MI 30 53226964 777039586 41.5 No MI 0 777039593 34.9 No MI 0 777039604 33.49 Lender Paid MI 25 53226965 777039607 0 PMI Mortgage Insurance 25 98349243 777039611 46.21 No MI 0 777039615 0 No MI 0 777039622 0 No MI 0 777039623 46.2 Lender Paid MI 25 53226966 777039625 32.89 Lender Paid MI 25 98744088 777039637 43.89 PMI Mortgage Insurance 30 98303766 777039646 0 Lender Paid MI 25 53226967 777039660 34.62 Lender Paid MI 30 53226968 777039663 0 No MI 0 777039675 39.23 Lender Paid MI 30 98473670 777039685 0 No MI 0 777039699 36.83 No MI 0 777039703 44.64 Lender Paid MI 25 98744037 777039704 39.42 Lender Paid MI 30 98473661 777039714 46.59 Lender Paid MI 30 53226969 777039718 47 United Guaranty 25 11464251 777039720 0 No MI 0 777039763 39.86 Lender Paid MI 30 53226970 777039769 30.7 No MI 0 777039770 42.26 Lender Paid MI 25 53226971 777039775 26.05 Lender Paid MI 25 98744134 777039780 34.49 No MI 0 777039782 46.1 No MI 0 777039784 40.66 Lender Paid MI 35 53226972 777039790 16.63 Lender Paid MI 30 53226973 777039803 30.2 No MI 0 777039805 39 No MI 0 777039823 33.1 No MI 0 777039833 30.67 0 777039838 25.75 Lender Paid MI 30 53226974 777039851 41.64 Lender Paid MI 30 53226975 777039859 22.39 Lender Paid MI 30 53226976 777039861 0 Lender Paid MI 30 53226977 777039862 40.56 Lender Paid MI 30 53226978 777039865 48.64 Lender Paid MI 30 777039869 35.82 Lender Paid MI 25 53226979 777039873 0 United Guaranty 25 11451282 777039875 38.48 0 777039881 37 No MI 0 777039882 0 No MI 0 777039883 46.28 Lender Paid MI 30 53226980 777039889 0 No MI 0 777039896 33.99 Lender Paid MI 25 53226981 777039898 40.6 United Guaranty 25 11465028 777039899 32.3 Lender Paid MI 25 777039907 46.1 No MI 0 777039919 26.66 No MI 0 777039925 38.6 Lender Paid MI 35 53226982 777039927 48.1 Triad Guaranty Insurance Co. 25 652404 777039932 49.45 No MI 0 777039944 23.8 Lender Paid MI 30 53226983 777039952 0 PMI Mortgage Insurance 25 98367161 777039956 0 No MI 0 777039969 26.69 No MI 0 777039986 42.61 Lender Paid MI 30 53226984 777039995 0 No MI 0 777040009 31.46 Lender Paid MI 30 53226985 777040010 46.32 No MI 0 777040011 45.13 No MI 0 777040024 37.9 No MI 0 777040028 34.23 Lender Paid MI 30 53226986 777040033 51.3 No MI 0 777040037 0 No MI 0 777040044 0 MGIC 25 25153791 777040046 43 No MI 0 777040047 29.77 No MI 0 777040051 39.62 Lender Paid MI 30 53226987 777040054 0 No MI 0 777040059 41.7 No MI 0 777040073 39.09 No MI 0 777040074 36.32 Lender Paid MI 25 53226988 777040082 44.3 No MI 0 777040083 39.7 Lender Paid MI 30 53226989 777040090 30.14 PMI Mortgage Insurance 30 98374311 777040092 30.45 No MI 0 777040097 0 No MI 0 777040102 35.67 No MI 0 777040103 0 No MI 0 777040105 43.9 Lender Paid MI 25 53226990 777040118 31.22 No MI 0 777040123 35.23 No MI 0 777040126 30.49 Lender Paid MI 25 53226991 777040133 41.6 No MI 0 777040135 47.9 Lender Paid MI 30 53227553 777040137 29.4 No MI 0 777040138 39.31 PMI Mortgage Insurance 25 98532358 777040139 0 No MI 0 777040145 25.96 PMI Mortgage Insurance 30 98582541 777040146 19.57 Lender Paid MI 25 53226992 777040147 0 Lender Paid MI 30 53226993 777040152 44.2 No MI 0 777040158 0 PMI Mortgage Insurance 25 98485139 777040161 54.52 Lender Paid MI 30 777040169 46.21 No MI 0 777040174 46.21 No MI 0 777040178 44.72 Lender Paid MI 30 53226994 777040191 0 Lender Paid MI 30 98744126 777040196 47.88 Lender Paid MI 30 53226995 777040200 22.2 No MI 0 777040201 41.82 No MI 0 777040202 41.93 No MI 0 777040205 40.15 Lender Paid MI 30 53226996 777040222 46.21 No MI 0 777040229 0 No MI 0 777040240 50.96 PMI Mortgage Insurance 25 98485350 777040241 0 Lender Paid MI 25 53226997 777040261 47.7 Lender Paid MI 30 53227551 777040269 47.7 No MI 0 777040278 39.8 No MI 0 777040297 40.7 Lender Paid MI 30 53226998 777040299 37.8 No MI 0 777040352 28.51 0 777040354 49.3 Lender Paid MI 25 53226999 777040356 0 No MI 0 777040357 44.5 No MI 0 777040365 40.62 PMI Mortgage Insurance 30 98270302 777040370 59.98 Lender Paid MI 25 53227000 777040394 38.33 No MI 0 777040398 40.48 Lender Paid MI 25 53227001 777040399 0 No MI 0 777040406 38.5 Lender Paid MI 30 777040407 38.5 Lender Paid MI 30 98744118 777040413 36.58 No MI 0 777040429 29.62 Lender Paid MI 30 53227002 777040430 51.02 No MI 0 777040434 41.98 Lender Paid MI 30 53227003 777040443 24.2 MGIC 25 25195073 777040448 41.46 0 777040449 21.37 No MI 0 777040478 0 No MI 0 777040482 0 No MI 0 777040484 0 Lender Paid MI 30 53227004 777040485 10.7 No MI 0 777040487 25.7 Lender Paid MI 30 53227005 777040551 35.21 No MI 0 777040554 0 PMI Mortgage Insurance 25 98606882 777040557 32.43 Lender Paid MI 25 777040577 40.98 Lender Paid MI 25 53227558 777040578 34.38 PMI Mortgage Insurance 30 98277072 777040593 31.79 Lender Paid MI 30 98744142 777040596 31.79 Lender Paid MI 30 53227006 777040603 21.33 Lender Paid MI 30 53227007 777040635 0 No MI 0 777040639 3.85 No MI 0 777040643 40.41 No MI 0 777040649 57.04 Lender Paid MI 30 53227008 777040658 36.34 PMI Mortgage Insurance 25 98460250 777040662 40.8 PMI Mortgage Insurance 25 97933430 777040663 33.33 PMI Mortgage Insurance 25 98535021 777040671 37.5 No MI 0 777040676 40.86 Lender Paid MI 30 53227554 777040677 27.76 No MI 0 777040693 0 No MI 0 777040694 0 No MI 0 777040705 31.99 No MI 0 777040708 21.48 No MI 0 777040723 21.62 No MI 0 777040752 44.36 Lender Paid MI 30 53227009 777040753 43.9 Lender Paid MI 30 53227010 777040761 51.32 0 777040767 34.64 0 777040776 20.74 0 777040779 42.89 0 777040790 36.5 No MI 0 777040819 44.3 No MI 0 777040820 35.1 No MI 0 777040843 0 No MI 0 777040918 39.2 No MI 0 777041008 18.74 0 UBS Loan ID Pool Pool PMI Cert Number Property Type Units PMI Level --------------------------------------------------------------------------------------------------------------------- 334405839 Single Family 1 334532900 Single Family 1 334532908 Pud Detached 1 334532949 Pud Attached 1 334655990 Three Family 3 334659518 Single Family 1 334659541 Single Family 1 334688853 Pud Detached 1 334720548 Single Family 1 334720549 Single Family 1 334738020 Single Family 1 334738165 Single Family 1 334740598 Pud Detached 1 334740620 Single Family 1 334756494 Pud Detached 1 334756551 Single Family 1 334921808 Single Family 1 335664299 Single Family 1 335664300 Single Family 1 335664305 Single Family 1 335664316 Single Family 1 335664354 Single Family 1 335664362 Single Family 1 335664376 Single Family 1 335664377 Single Family 1 335664379 Low Rise Condo (2-4 floors) 1 335664387 Single Family 1 335664390 Single Family 1 335664393 Single Family 1 335736334 Single Family 1 335736335 Two Family 2 335736339 Two Family 2 335736340 Low Rise Condo (2-4 floors) 1 335736342 Low Rise Condo (2-4 floors) 1 335736344 Single Family 1 335736361 Single Family 1 335751199 Single Family 1 335751203 Single Family 1 335751204 Single Family 1 335751227 Single Family 1 335847961 Single Family 1 335847965 Two Family 2 335847968 Single Family 1 777005164 Single Family 1 777008436 Low Rise Condo (2-4 floors) 1 777008553 Single Family 1 777008555 Single Family 1 777008649 Single Family 1 777010295 Three Family 3 777010304 Single Family 1 777010306 Single Family 1 777010315 Single Family 1 777011692 High Rise Condo (gt 8 floors) 1 777017938 Low Rise Condo (2-4 floors) 1 777018098 Coop 1 777018345 Single Family 1 777019969 Single Family 1 777022040 Coop 1 777022104 Single Family 1 777022731 Single Family 1 777022867 Single Family 1 777022899 Single Family 1 777023524 Single Family 1 777024142 Single Family 1 777024145 Single Family 1 777024357 Single Family 1 777024375 Two Family 2 777024623 Single Family 1 777024877 Single Family 1 777024948 Single Family 1 777025030 Two Family 2 777025382 Single Family 1 777025988 Single Family 1 777026173 Single Family 1 777026199 Two Family 2 777026269 Two Family 2 777026273 Single Family 1 777026468 Single Family 1 777026595 Single Family 1 777026750 Two Family 2 777026765 Pud Attached 1 777027150 Single Family 1 777027202 Single Family 1 777027266 Low Rise Condo (2-4 floors) 1 777027293 Single Family 1 777027474 Single Family 1 777027538 Single Family 1 777027649 Single Family 1 777027783 Single Family 1 777028136 Single Family 1 777028237 Single Family 1 777028498 Single Family 1 777028656 Single Family 1 777028666 Single Family 1 777028816 Single Family 1 777028834 Four Family 4 777028888 Two Family 2 777028924 Single Family 1 777028942 Single Family 1 777028979 Single Family 1 777028989 Single Family 1 777029007 Single Family 1 777029082 Pud Attached 1 777029110 Single Family 1 777029183 Three Family 3 777029204 Single Family 1 777029210 Single Family 1 777029320 Single Family 1 777029383 Single Family 1 777029420 Pud Attached 1 777029431 Single Family 1 777029449 Single Family 1 777029455 Three Family 3 777029589 Single Family 1 777029659 Single Family 1 777029734 Single Family 1 777029774 Coop 1 777029776 Coop 1 777029777 Coop 1 777029799 Pud Attached 1 777029815 Single Family 1 777029931 Four Family 4 777029950 Three Family 3 777029979 Low Rise Condo (2-4 floors) 1 777029981 Low Rise Condo (2-4 floors) 1 777030042 Single Family 1 777030211 Single Family 1 777030263 Single Family 1 777030286 Single Family 1 777030296 Two Family 2 777030324 Two Family 2 777030335 Low Rise Condo (2-4 floors) 1 777030414 Single Family 1 777030515 Low Rise Condo (2-4 floors) 1 777030637 Pud Attached 1 777030643 Single Family 1 777030846 Single Family 1 777030944 Single Family 1 777031066 Three Family 3 777031118 Low Rise Condo (2-4 floors) 1 777031127 Single Family 1 777031148 Single Family 1 777031374 Low Rise Condo (2-4 floors) 1 777031379 Low Rise Condo (2-4 floors) 1 777031569 Single Family 1 777031602 Single Family 1 777031677 Three Family 3 777031683 Low Rise Condo (2-4 floors) 1 777031704 Single Family 1 777031705 Single Family 1 777031766 Single Family 1 777031783 Single Family 1 777031836 Single Family 1 777031906 Single Family 1 777031978 Single Family 1 777032001 Townhouse 1 777032047 Single Family 1 777032061 Four Family 4 777032109 Single Family 1 777032158 Single Family 1 777032182 Townhouse 1 777032185 Townhouse 1 777032311 Single Family 1 777032372 Low Rise Condo (2-4 floors) 1 777032373 Low Rise Condo (2-4 floors) 1 777032448 Single Family 1 777032451 Single Family 1 777032459 Low Rise Condo (2-4 floors) 1 777032614 Single Family 1 777032632 Single Family 1 777032637 Single Family 1 777032699 Single Family 1 777032712 Single Family 1 777032734 Single Family 1 777032756 Single Family 1 777032767 Single Family 1 777032790 Two Family 2 777032859 Single Family 1 777032875 Single Family 1 777032886 Two Family 2 777032887 Single Family 1 777032914 Single Family 1 777032945 Single Family 1 777033051 Single Family 1 777033075 Single Family 1 777033293 Single Family 1 777033294 Single Family 1 777033302 Single Family 1 777033303 Single Family 1 777033312 Single Family 1 777033353 Single Family 1 777033357 Single Family 1 777033367 Pud Attached 1 777033463 Single Family 1 777033513 Single Family 1 777033559 Single Family 1 777033569 Single Family 1 777033613 Single Family 1 777033633 Single Family 1 777033634 Pud Attached 1 777033661 Single Family 1 777033665 Single Family 1 777033688 Single Family 1 777033703 Single Family 1 777033797 Two Family 2 777033923 Low Rise Condo (2-4 floors) 1 777033927 Low Rise Condo (2-4 floors) 1 777033998 Single Family 1 777034066 Single Family 1 777034134 Single Family 1 777034137 Single Family 1 777034177 Single Family 1 777034246 Pud Attached 1 777034318 Single Family 1 777034336 Single Family 1 777034338 Condohotel 1 777034365 Single Family 1 777034371 Single Family 1 777034378 Pud Attached 1 777034387 Single Family 1 777034427 Two Family 2 777034429 Three Family 3 777034739 Single Family 1 777034983 Single Family 1 777035007 Pud Attached 1 777035170 Single Family 1 777035245 Single Family 1 777035278 Single Family 1 777035300 Single Family 1 777035335 Three Family 3 777035428 Single Family 1 777035496 Single Family 1 777035617 Single Family 1 777035624 Single Family 1 777035710 Pud Attached 1 777035723 Low Rise Condo (2-4 floors) 1 777035760 Single Family 1 777035762 Low Rise Condo (2-4 floors) 1 777035786 Single Family 1 777035933 Three Family 3 777035949 High Rise Condo (gt 8 floors) 1 777035988 Single Family 1 777035997 Single Family 1 777035998 Two Family 2 777036128 Single Family 1 777036313 Single Family 1 777036315 Single Family 1 777036329 Single Family 1 777036349 Single Family 1 777036369 Single Family 1 777036443 Single Family 1 777036459 Single Family 1 777036524 Single Family 1 777036527 Single Family 1 777036579 Single Family 1 777036689 Single Family 1 777036692 Single Family 1 777036817 Single Family 1 777036834 Single Family 1 777036845 Single Family 1 777036887 Single Family 1 777036906 Two Family 2 777036959 Single Family 1 777036960 High Rise Condo (gt 8 floors) 1 777036981 Two Family 2 777037017 Single Family 1 777037023 Single Family 1 777037059 Two Family 2 777037063 Single Family 1 777037087 Single Family 1 777037098 Two Family 2 777037153 Single Family 1 777037155 Single Family 1 777037186 Single Family 1 777037187 Two Family 2 777037209 Single Family 1 777037225 Single Family 1 777037237 Three Family 3 777037276 Single Family 1 777037277 Single Family 1 777037278 Single Family 1 777037283 Single Family 1 777037299 Single Family 1 777037303 Low Rise Condo (2-4 floors) 1 777037383 Single Family 1 777037389 Single Family 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1 777040649 Two Family 2 777040658 Low Rise Condo (2-4 floors) 1 777040662 Single Family 1 777040663 Single Family 1 777040671 Single Family 1 777040676 Single Family 1 777040677 Mid Rise Condo (4-8 floors) 1 777040693 Pud Attached 1 777040694 Single Family 1 777040705 Single Family 1 777040708 Single Family 1 777040723 Single Family 1 777040752 Two Family 2 777040753 Two Family 2 777040761 Single Family 1 777040767 Low Rise Condo (2-4 floors) 1 777040776 Pud Attached 1 777040779 Pud Attached 1 777040790 Single Family 1 777040819 Low Rise Condo (2-4 floors) 1 777040820 Low Rise Condo (2-4 floors) 1 777040843 Single Family 1 777040918 Single Family 1 777041008 Pud Attached 1 UBS Loan ID Prop State Prop City Prop Zip FICO Score Escrows Waived --------------------------------------------------------------------------------------------------------------------------------------- 334405839 Pennsylvania HAWLEY 18428 685 No 334532900 Xxxxxxxx XXXXXXXX XXXXX 00000 679 No 334532908 North Carolina RALEIGH 27610 637 No 334532949 Florida XXXX XXXXXXXXXX 00000 756 No 334655990 Xxxx Xxxxxxxx Xxxxxxxxxx 00000 733 Yes 334659518 Connecticut SEYMOUR 6483 650 Yes 334659541 New York HUNTINGTON 11746 665 Yes 334688853 Minnesota PRIOR LAKE 55372 697 Yes 334720548 Xxx Xxxx XXXXXX XXXXX 00000 646 Yes 334720549 Xxxxx Xxxxxxxx XXXXXX XXXXXX 00000 685 Yes 334738020 Xxxxxxx XXXXXX XXXXXXX 00000 695 Yes 334738165 Ohio MAUMEE 43537 718 Yes 334740598 Xxxxx Xxxxxxxx XXXXXXXXXX 00000 624 Yes 334740620 Illinois GILBERTS 60136 634 Yes 334756494 Xxxxxxx XXXXXX XXXX 00000 638 Yes 334756551 Idaho XXXX 83316 653 No 334921808 Minnesota XXXX RAPIDS 55433 624 Yes 335664299 Xxxxxxxxxx XXX XXXX 00000 734 Yes 335664300 Xxxxxxxxxx XXX XXXX 00000 760 Yes 335664305 Washington SHORELINE 98177 768 No 335664316 Colorado ARVADA 80005 808 No 335664354 Florida FT. LAUDERDALE 33312 715 No 335664362 California CHULA VISTA 91913 775 Yes 335664376 Xxxxxxxxxx XXX XXXXXXX 00000 772 Yes 335664377 California ANAHEIM 92804 751 Yes 335664379 Xxxxxxxxxx XXXXX XXXXX 00000 785 Yes 335664387 California SAN CLEMENTE 92672 779 Yes 335664390 California APTOS 95003 821 Yes 335664393 California AGOURA 91301 631 No 335736334 Washington SPOKANE 99207 632 Yes 335736335 New Jersey XXXXXXX 7885 684 No 335736339 New Jersey TRENTON 8611 720 No 335736340 Xxxxxxx XXXXX 00000 0 No 335736342 Xxxxxxxxxx XXXXX 00000 651 Yes 335736344 Xxx Xxxx XXXXXXXX 00000 719 Yes 335736361 California NICE 95464 722 Yes 335751199 Xxxxxxxx XXXXXXXXXXX 22153 809 Yes 335751203 Xxxxxxxx XXXXXXXXXXX 00000 774 Yes 335751204 Xxxxxxxx XXXXXXX 20147 682 Yes 335751227 Nevada HENDERSON 89052 746 Yes 335847961 Texas GARLAND 75043 674 No 335847965 California LANCASTER 93534 687 Yes 335847968 California PASADENA 91104 691 Yes 777005164 Louisiana METAIRIE 70005 798 Yes 777008436 New Jersey LAKEWOOD 8701 723 No 777008553 Utah XXXX XXXX XXXX 00000 677 No 777008555 Xxxx XXXX XXXXXX XXXX 00000 677 No 777008649 Xxxxxxx XXXXX 00000 665 No 777010295 Xxx Xxxx XXXX XXXXXXXX 00000 621 No 777010304 Nevada LAS VEGAS 89124 748 No 777010306 Xxxxxxxx XXXX XXXXXXXXXX 00000 727 Yes 777010315 Wisconsin NEENAH 54956 781 No 777011692 Xxxxxxx XXXXX XXXXX 00000 673 Yes 777017938 California XXXXXX 90745 800 No 777018098 Xxxxxxxxxx XXX XXXXXXX 00000 659 No 777018345 Xxxxxxxxx XXXXXXXXX 00000 639 No 777019969 Colorado LAKEWOOD 80227 704 No 777022040 Xxx Xxxx XXX XXXX 00000 640 Yes 777022104 Wisconsin MILWAUKEE 53219 763 Yes 777022731 Florida POMPANO BEACH 33064 696 No 777022867 Tennessee WOODBURY 37190 686 No 777022899 Xxxxxxxxx XXX XXXXXX 00000 667 No 777023524 Florida LEHIGH ACRES 33971 793 No 777024142 Florida BROOKSVILLE 34604 614 No 777024145 Wisconsin FOND DU LAC 54935 678 No 777024357 Arizona RIO RICO 85648 710 Yes 777024375 Xxx Xxxx XXXXXX 00000 648 No 777024623 Xxxxxxx XXXXXX XXXX 00000 642 No 777024877 Iowa NORWALK 50211 627 No 777024948 Wisconsin XXXXXX 54016 723 No 777025030 Xxxxxxxxx XXXX XXXX 00000 681 No 777025382 Colorado AURORA 80013 640 No 777025988 Georgia LAVONIA 30553 630 Yes 777026173 Xxxxxxxxxx XXXXX XXXX 00000 621 No 777026199 New Jersey UNION 7083 723 No 777026269 Texas GRANBURY 76049 674 No 777026273 Arizona PEORIA 85383 694 No 777026468 Xxxxxxxx XXXXXX XXXX 00000 670 Yes 777026595 California RIVERSIDE 92501 652 No 777026750 Texas GRANBURY 76049 674 No 777026765 Florida BROOKSVILLE 34604 647 No 777027150 Minnesota XXXXXXX XXXXX 00000 636 No 777027202 California LONG BEACH 90814 703 Yes 777027266 Wisconsin GERMANTOWN 53022 632 Yes 777027293 Illinois PLAINFIELD 60585 768 No 777027474 Arizona PHOENIX 85042 659 No 777027538 California HAWTHORNE 90250 661 Yes 777027649 Illinois NORRIDGE 60706 620 Yes 777027783 California BEAUMONT 92223 642 Yes 777028136 Xxxxx Xxxxxxxx XXXXXXXX 00000 676 No 777028237 Colorado DENVER 80210 676 No 777028498 Xxxxxxxxxx XXXXXXX 00000 665 No 777028656 Xxxxxxxxxx XXXXXXX XXXX 00000 664 No 777028666 Xxx Xxxx XXXXXXXXX 00000 728 No 777028816 Texas KATY 77450 682 No 777028834 California LOS ANGELES 90044 710 No 777028888 Missouri GRAIN VALLEY 64029 653 No 777028924 Xxx Xxxx XXXXXXXX 00000 703 No 777028942 North Carolina KING 27021 795 No 777028979 Texas DALLAS 75252 720 No 777028989 Arizona PEORIA 85345 674 No 777029007 New Jersey PAULSBORO 8066 666 No 777029082 Florida PORT XXXXXX 34668 759 Yes 777029110 Xxxxxxx XXXXXXX 00000 683 No 777029183 Xxx Xxxx XXXXXXXX 00000 708 No 777029204 California SACRAMENTO 95823 763 No 777029210 Arizona PHOENIX 85045 781 No 777029320 Florida XXXXXXX 33511 631 No 777029383 Florida OCALA 34473 662 No 777029420 Xxxxxxx XXXXX 00000 631 Yes 777029431 Xxxx XXX XXXXXX 00000 669 No 777029449 Xxxxxxxxxx XXXX 98031 733 Yes 777029455 Connecticut NEW BRITAIN 6061 654 No 777029589 Texas XXXXXXXX 75070 634 Yes 777029659 Xxxxx Xxxxxxxx XXXXXXXXX 00000 653 No 777029734 California BANNING 92220 671 No 777029774 Xxx Xxxx XXXXXXXX 00000 747 Yes 777029776 Xxx Xxxx XXXXXXXX 00000 747 Yes 777029777 Xxx Xxxx XXXXXXXX 00000 747 Yes 777029799 Florida WELLINGTON 33467 679 Yes 777029815 Florida MIRAMAR 33023 702 No 777029931 New Jersey BAYONNE 7002 619 No 777029950 Connecticut WATERBURY 6704 739 No 777029979 Florida HIALEAH 33010 668 No 777029981 Florida HIALEAH 33010 668 No 777030042 Pennsylvania ALLENTOWN 18104 691 No 777030211 Xxxxxxxx XXXXX XXXX 00000 660 No 777030263 New York XXXX XXXXXXXXXX 00000 785 Yes 777030286 Xxxxxxx XXXX XXXXX XXXXX 00000 667 No 777030296 Xxx Xxxx XXXXXX 00000 684 No 777030324 New York ROTTERDAM 12303 684 No 777030335 Xxxxxxxxxx XXXX XXXXXXX 00000 643 Yes 777030414 California SACRAMENTO 95834 627 Yes 777030515 Florida LARGO 33774 638 Yes 777030637 Texas XXXXXX 77378 706 No 777030643 Texas DALLAS 75224 660 No 777030846 California TWIN PEAKS 92391 688 No 777030944 Xxxxxxx XXXXX 00000 663 No 777031066 Xxx Xxxx XXXXXXXX 00000 680 No 777031118 Georgia MARIETTA 30067 642 No 777031127 California XXXXXXXXX XXXX 00000 688 No 777031148 Xxxx XXXXXXXX 00000 624 No 777031374 Xxxxxxx XXXXX 00000 742 No 777031379 Florida KISSIMMEE 34747 644 No 777031569 Arizona TUCSON 85711 690 No 777031602 Massachusetts SPRINGFIELD 1109 670 No 777031677 New Jersey PERTH AMBOY 8861 700 No 777031683 Xxxxxxx XXXXX 00000 725 No 777031704 Georgia LOGANVILLE 30052 738 No 777031705 Xxxxxxx XXXXXXXXX 00000 738 No 777031766 Arizona TUCSON 85706 628 No 777031783 California COVINA 91722 647 No 777031836 Washington KENNEWICK 99336 687 No 777031906 Illinois SHCAUMBURG 60193 652 No 777031978 Xxxxxxxxx XXXXXXX XXXXX 00000 678 No 777032001 Xxxxxxx XXXXX 00000 685 No 777032047 Missouri NIXA 65714 627 Yes 777032061 California NEEDLES 92363 711 Yes 777032109 Wisconsin GLENDALE 53209 660 No 777032158 Pennsylvania LEVITTOWN 19054 762 No 777032182 Xxxxxxx XXXXX 00000 685 No 777032185 Xxxxxxx XXXXX 00000 685 No 777032311 Arizona SURPRISE 85374 690 No 777032372 Arizona PHOENIX 85032 647 No 777032373 Arizona PHOENIX 85015 647 No 777032448 Xxx Xxxx XXXXXXX 00000 757 No 777032451 California VENTURA 93003 759 No 777032459 Florida LARGO 33771 722 No 777032614 Maine EUSTIS 4982 692 No 777032632 Xxxxxxx XXXXXXXXXXXX 00000 692 No 777032637 Xxxxx Xxxxxxxx XXXXXXXXX 00000 700 No 777032699 Xxxxxxx XXXXXXXXXXXX 00000 692 No 777032712 Wisconsin HARTFORD 53027 694 No 777032734 Xxxxxxxxxx XXXXXXX XXXX XXX XXX 00000 650 Yes 777032756 Texas GARLAND 75042 668 No 777032767 Colorado LITTLETON 80127 681 No 777032790 Xxx Xxxx XXXXXX 00000 633 No 777032859 Pennsylvania NEWFOUNDLAND 18463 798 Yes 777032875 Tennessee XX XXXXXXXXX 00000 760 Yes 777032886 Xxx Xxxx XXXXX 00000 620 Yes 777032887 New Jersey WILLINGBORO 8046 687 No 777032914 Florida LARGO 33777 637 No 777032945 Texas ARLINGTON 76016 626 Yes 777033051 Xxxxxxxxx XXXXXXX XXXXXXX 00000 719 No 777033075 Wyoming LARAMIE 82072 653 No 777033293 Xxxxxxx XXXXXXXXXXXX 00000 664 No 777033294 California PALMDALE 93552 665 No 777033302 Xxxxxxxxxx XXXXXXX 00000 689 No 777033303 New York ROCHESTER 14606 660 Yes 777033312 Wyoming LARAMIE 82072 658 No 777033353 Missouri GLADSTONE 64118 701 No 777033357 Xxxxxxxx XXXXXX XXXX 00000 701 No 777033367 Texas XXXX XXXXX 00000 676 Yes 777033463 California STOCKTON 95210 678 No 777033513 Xxxxxxxxxx XXXXXXXXX 00000 680 No 777033559 Pennsylvania PHILADELPHIA 19134 681 No 777033569 Xxxxxxx XXXXX 00000 628 Yes 777033613 Arizona GLENDALE 85310 671 No 777033633 Xxxxxxxx XXXXXX XXXX 00000 626 Yes 777033634 Texas AUBREY 76227 799 No 777033661 Minnesota XXXXX 55123 706 No 777033665 Xxxxxxx XXXXX XXXXXXXXXX 00000 783 Yes 777033688 Xxxxxxx XXXXXX XXXX 00000 664 No 777033703 California ORANGE 92865 813 Yes 777033797 Xxx Xxxx XXXXXXXX 00000 672 No 777033923 Florida NAPLES 34104 790 No 777033927 Florida NAPLES 34104 770 Yes 777033998 Xxxxxxxxxx XXXXXXXXX 00000 639 No 777034066 Texas HIGHLAND VILIAGE 75077 693 Yes 777034134 Xxxxxxxx XXXXXXXXXX 22191 668 No 777034137 Colorado DENVER 80219 685 No 777034177 South Carolina XXXXX XXXXX 00000 750 No 777034246 Xxxxxxx XXXX XXXX XXXXX 00000 731 Yes 777034318 Arizona PHOENIX 85053 734 No 777034336 Xxx Xxxx XXXXXXXXX 00000 689 Yes 777034338 Xxxxxxx XXXXX 00000 704 No 777034365 New York XXXXXX 12586 697 Yes 777034371 New Jersey MILLTOWN 8850 625 No 777034378 Florida TAMARAC 33321 724 No 777034387 Montana BUTTE 59701 740 No 777034427 Illinois JOLIET 60435 648 No 777034429 Illinois CHICAGO 60637 688 Yes 777034739 California GILROY 95020 755 Yes 777034983 California INGLEWOOD 90305 718 No 777035007 Florida PENSACOLA 32507 647 No 777035170 Massachusetts FAIRHAVEN 2719 711 No 777035245 California LONG BEACH 90808 747 No 777035278 Nevada LAS VEGAS 89123 643 Yes 777035300 Xxxxxxxxxx XXX XXXX 00000 623 Yes 777035335 California LYNWOOD 90262 631 Yes 777035428 Xxxxxxx XXXXXXX 00000 760 No 777035496 Arizona QUEEN CREEK 85243 779 Yes 777035617 Xxxxx Xxxxxxxx XXXXXXXXX 00000 733 No 777035624 California GARDEN VALLEY 95633 659 No 777035710 Texas THE WOODLANDS 77382 640 No 777035723 Xxxxxxx XXXXXXXXXXXX 00000 0 No 777035760 California LOS ANGELES 90068 770 Yes 777035762 California (SYLMAR AREA)LOS ANG 91342 701 No 777035786 Xxxxxxxx XXXXXXXX XXXXX 00000 731 No 777035933 California SANTA XXX 92704 715 Yes 777035949 Xxxxxxx XXXXX XXXXX XXXXX 00000 745 No 777035988 Xxxxxxxxxx XXX XXXX 00000 694 Yes 777035997 Xxxxxxxxxx XXXXXXX 00000 683 Yes 777035998 Xxxxxxxxxx XXX XXXXXXX 00000 642 No 777036128 Alabama ATHENS 35613 765 No 777036313 Virginia ALEXANDRIA 22311 706 No 777036315 Colorado Denver 80209 794 No 777036329 New Jersey MONTAGUE 7827 672 No 777036349 New York PECONIC 11958 672 No 777036369 Xxx Xxxx XXXXXXXXX 00000 640 No 777036443 Arizona PHOENIX 85037 707 No 777036459 Washington BELLEVUE 98004 744 No 777036524 California OXNARD 93033 664 Yes 777036527 District of Xxxxxxxx XXXXXXXXXX 00000 739 Yes 777036579 Xxx Xxxx XXXXXXXX 00000 706 No 777036689 Xxxxxxxxxx XXXXX XXX 00000 684 Yes 777036692 Wisconsin FRANKLIN 53132 777 No 777036817 Florida LARGO 33770 665 Yes 777036834 California PALMDALE 93550 705 Yes 777036845 California STANTON 90680 732 Yes 777036887 Arizona PHOENIX 85051 721 No 777036906 New Jersey PERTH AMBOY 8861 696 No 777036959 North Carolina ASHEVILLE 28803 768 No 777036960 North Carolina ASHEVILLE 28801 727 No 777036981 New Jersey LODI 7644 677 No 777037017 Xxx Xxxx XXXXXXXX 00000 626 No 777037023 Xxxxxxx XXXXXXX 00000 717 No 777037059 California SAN BERNARDINO 92404 662 Yes 777037063 Xxx Xxxx XXXXXXXX 00000 685 No 777037087 California COLTON 92324 671 No 777037098 California COMPTON 90220 740 Yes 777037153 California LOS ANGELES 90049 730 Yes 777037155 Xxxxxxxxxx XXXXX XXXXXX 00000 730 Yes 777037186 Georgia ELBERTON 30635 716 No 777037187 New Jersey FAIRVIEW 7022 672 No 777037209 California PORTERVILLE 93257 643 No 777037225 Alabama XXXXXX 36587 705 No 777037237 Xxx Xxxx XXXXXXXX 00000 650 No 777037276 Oregon PORTLAND 97220 693 No 777037277 Oregon PORTLAND 97206 693 No 777037278 Oregon PORTLAND 97220 693 No 777037283 Illinois STREAMWOOD 60107 702 No 777037299 Xxxxxxxxxx XXXXXXXXX 00000 691 No 777037303 Xxxxxxx XXXX XXXX 00000 778 No 777037383 Maryland RANDALLSTOWN 21133 705 No 777037389 Kentucky RADCLIFF 40160 742 No 777037399 Massachusetts SOUTHBRIDGE 1550 667 No 777037433 Arizona MARICOPA 85239 691 No 777037445 Texas AUSTIN 78703 684 No 777037471 Georgia SAVANNAH 31410 787 No 777037473 Texas AUSTIN 78717 765 No 777037563 Xxxxxxx XXXX XXXX 00000 715 No 777037566 Illinois CHICAGO 60629 664 No 777037583 Florida DELTONA 32725 743 Yes 777037636 Colorado BRECKENRIDGE 80424 741 No 777037637 Texas ADDISON 75001 672 Yes 777037640 New Jersey RIDEWOOD 7450 631 No 777037643 Xxxxxxxxxx XXX XXXXXXX 00000 663 No 777037665 California COPPERPOLIS 95228 689 No 777037670 Xxxxxxxxxx XXXXXX XXXXXXXXX 00000 682 Yes 777037677 Xxxxx XXXXX XXXX 00000 740 No 777037717 Xxxxxx XXXXXX XXXX 00000 680 Yes 777037727 Xxxxxxxx XXXXXXXXXX 00000 722 No 777037770 Arizona GLENDALE 85302 743 No 777037795 Alabama HUNTSVILLE 35824 750 No 777037811 Illinois CHICAGO 60640 653 No 777037814 Xxxx XXXXX XXXXX 00000 708 No 777037840 Maryland WHITE PLAINS 20695 753 No 777037846 Xxxxxxx XXXX XXXXX 00000 691 No 777037864 Colorado LITTLETON 80128 753 No 777037866 Xxx Xxxx XXXX XXXXX 00000 683 No 777037875 Xxxxxxxxxx XXXXXXXXXX XXXXXX 00000 766 No 777037891 New Mexico ALBUQUERQUE 87123 804 No 777037895 Connecticut EAST LYME 6333 782 No 777037929 Massachusetts BOSTON 2124 691 No 777037940 Illinois XXXXXXX XXXXX 00000 662 Yes 777037945 Minnesota HASTINGS 55033 776 No 777037954 Xxxxxxxxxxx XXXXXXXXXX 0000 687 No 777037986 Maryland BRANDYWINE 20613 771 No 777037991 Xxxx Xxxxxxxx XXXXXXXXXXX 00000 733 No 777038024 Colorado LITTLETON 80128 715 No 777038029 Florida DUNNELLON 34432 681 No 777038040 Missouri CAPE GIRARDEAU 63701 707 No 777038041 Xxx Xxxx XXXXX XXXXX XXXX 00000 676 No 777038055 Xxxxx Xxxxxxxx XXXXX XXXXXXXXXX 00000 738 No 777038064 Xxx Xxxx XXXXXX 00000 729 No 777038075 California BAKERSFIELD 93305 733 Yes 777038079 Xxxxxxx XXXXX XXXX 00000 642 No 777038091 California LOMPOC 93436 689 No 777038103 Xxx Xxxxxxxxx XXXXXXX 0000 763 No 777038107 Xxxxxxxxxx XXXXXXX XXXXX 00000 667 Yes 777038143 California BELMONT 94002 748 Yes 777038147 Florida LAUDERHILL 33319 730 No 777038162 West Virginia FALLING WATERS 25419 687 No 777038175 Alabama MOBILE 36605 730 No 777038181 Colorado GUNNISON 81230 771 No 777038182 Xxxxxxxx XXXXXXXXX 00000 671 No 777038185 Alabama MOBILE 36693 730 No 777038191 Xxxxxxxxxx XXXX XXXXXX 00000 778 Yes 777038198 Illinois CHICAGO 60622 726 No 777038199 Xxx Xxxx XXXXXXXX 00000 789 No 777038204 Xxxxx XXXXXXX 00000 740 No 777038206 New York XXXXX XXXX 00000 000 Xx 000000000 Xxx Xxxxxx ALBUQUERQUE 87112 658 No 777038229 Texas DENTON 76207 787 Yes 777038235 Idaho NAMPA 83687 767 No 777038239 California CALISTOGA 94515 783 No 777038255 Xxxxxxxxxx XXXXXXX XXX 00000 798 No 777038256 New York WESTBURY 11590 632 Yes 777038264 California GRANADA HILLS 91344 729 Yes 777038270 Texas HOCKLEY 77447 768 No 777038289 Texas COLLEGE STATION 77845 706 No 777038312 Texas CEDAR PARK 78613 701 No 777038331 Colorado ENGLEWOOD 80111 783 No 777038332 California BURBANK 91506 733 Yes 777038335 Alabama HUNTSVILLE 35806 649 No 777038349 Arizona SCOTTSDALE 85257 698 No 777038359 Wisconsin GREENFIELD 53221 761 Yes 777038362 Kansas ATCHISON 66002 750 Yes 777038363 California NEWHALL 91321 666 Yes 777038367 California LOS BANOS 93635 644 No 777038375 Colorado DENVER 80219 728 No 777038377 South Carolina LONGS 29568 723 Yes 777038378 Xxxxxxx XXXXXXX 00000 720 No 777038382 California ESCONDIDO 92026 697 Yes 777038383 Arizona PHOENIX 85051 694 No 777038401 California LOS ANGELES 90068 791 Yes 777038417 Texas HIIGHLANDS 77562 742 No 777038420 Xxx Xxxx XXXXXXXX 00000 724 No 777038423 Arizona PHOENIX 85029 663 No 777038425 Xxxxxxxxxx XXXXXX XXXXXXXXX 00000 751 No 777038435 Arizona PEORIA 85345 640 No 777038462 New Mexico ALBUQUERQUE 87123 658 No 777038466 Xxxxxxx XXXXX 00000 646 Yes 777038500 Xxx Xxxx XXXXXX XXXXXX 00000 753 No 777038502 California LOS ANGELES 90027 653 Yes 777038505 Xxx Xxxx XXXXXXX XXXXXXX 00000 739 No 777038526 Oklahoma CLAREMORE 74019 714 No 777038540 New Mexico ALBUQUERQUE 87106 658 No 777038542 New Mexico ALBUQUERQUE 87123 658 No 777038543 Xxxxx Xxxxxxxx XXXXXXXXXX 00000 693 No 777038557 New Mexico ALBUQUERQUE 87123 658 No 777038558 New Mexico ALBUQUERQUE 87123 658 No 777038564 California RIVERSIDE 92508 740 No 777038589 Xxxxxxx XXXXXXXXXXXX 00000 757 No 777038592 California LOS ANGELES 90011 656 No 777038599 Florida POMPANO BEACH 33060 740 No 777038604 Xxxxxxxx XXXXXX XXXX 00000 763 Yes 777038610 Utah CLINTON 84015 741 No 777038630 Florida OCALA 34471 789 Yes 777038634 Xxx Xxxx XXXX XXXXXXXX 00000 682 No 777038637 Xxxxxxx XXXXXXXX 00000 726 No 777038644 Florida BRADENTON 34209 695 No 777038649 Texas MIDLOTHIAN 76065 742 No 777038659 California LOS ANGELES 90042 734 Yes 777038676 California NORTHRIDGE 91326 718 Yes 777038687 Xxx Xxxx XXXXXXXX 00000 732 No 777038694 Nevada MESQUITE 80927 727 No 777038701 New Jersey JERSEY CITY 7304 643 No 777038709 Xxxxxxxxxx XXXXXX XXXXX 00000 721 Yes 777038710 Texas CORPUS CHRISTI 78413 778 No 777038728 Xxxxx Xxxxxxxx XXXXXX XXXXX 00000 702 No 777038729 Texas DALLAS 75205 748 Yes 777038749 Texas SAN ANTONIO 78209 703 Yes 777038769 California ANTIOCH 94531 758 Yes 777038784 New Jersey WILDWOOD 8260 733 No 777038791 Xxxxxxxxxx XXX XXXXXXXXX 00000 761 Yes 777038804 Xxxxxxxxxxx XXXXXXXXXX 0000 790 No 777038805 Rhode Island PAWTUCKET 2860 701 No 777038814 Louisiana XXXXXX BRIDGE 70517 705 No 777038821 California LONG BEACH 90807 643 Yes 777038825 Xxx Xxxx XXXXX 00000 706 No 777038831 California TULARE 93274 691 No 777038834 Connecticut WINDSOR LOCKS 6096 761 Yes 777038842 Xxxxxxx XXXX XXXXX 00000 701 No 777038852 Colorado PARKER 80134 733 Yes 777038855 Minnesota ELKO 55020 699 Yes 777038877 Xxx Xxxxxx XXXXXXXX 0000 632 No 777038882 Xxx Xxxx XXXXXXXX 00000 744 Yes 777038891 Xxxxxxx XXXXXXXXXXXX 00000 709 Yes 777038919 Xxxxxxx XXXX XXXXXX 00000 697 No 777038933 California WILTON 95693 689 Yes 777038953 New Jersey NEWARK 7112 681 No 777038960 California LOS ANGELES 90066 674 Yes 777038962 Arizona SCOTTSDALE 85250 756 Yes 777038965 Colorado COMMERCE CITY 80022 692 Yes 777038966 Xxxxxxx XXX XXXX XXXXXX 00000 739 No 777038967 Xxx Xxxx XXXXXXXX XXXXXX 00000 726 No 777038969 South Carolina CLOVER 29710 760 No 777038979 Xxxxxxxxxx XXX XXXXXXX 00000 702 No 777038984 Arizona PHOENIX 85086 753 No 777039004 California SANTA XXXXXXX 93108 707 Yes 777039016 Florida OCALA 34473 800 No 777039023 Xxxxxxx XXXXX 00000 796 No 777039027 Xxxxxxxx XXXXX XXXXX 00000 704 Yes 777039034 Xxxxx Xxxxxx XXXXXXXXX 00000 695 Yes 777039041 Florida VALRICO 33596 674 Yes 777039046 New Jersey NEWARK 7108 704 No 777039049 North Carolina KERNERSVILLE 27284 667 Yes 777039056 Xxx Xxxx XXX XXXX 00000 795 Yes 777039060 Florida SUNRISE 33323 648 Yes 777039066 California CARLSBAD 92008 753 Yes 777039068 Georgia DALLAS 30132 673 No 777039069 New York BABYLON 11702 645 No 777039099 Florida HOMOSASSA 34448 785 Yes 777039112 Illinois CHICAGO 60634 681 No 777039119 Illinois CHICAGO 60649 761 No 777039123 Utah CEDAR CITY 84720 746 No 777039124 California BANNING 92220 746 No 777039125 Nevada LAS VEGAS 89148 733 No 777039143 Xxx Xxxx XXXXXXXXXXX XXXXXXX 00000 687 No 777039144 New Jersey ORANGE 7050 661 No 777039146 Illinois CHICAGO 60651 736 No 777039167 Florida LEHIGH ACRES 33936 668 Yes 777039191 Xxxxxxx XXXXX XXXXXXXX 00000 692 No 777039195 New York HEWLETT 11557 756 Yes 777039197 Xxxxxxx XXX XXXX XXXXXX 00000 733 No 777039205 California ARCADIA 91006 790 Yes 777039218 Xxxxx Xxxxxxxx XXXXXXXXX 00000 805 No 777039221 Texas SAN ANTONIO 78227 751 No 777039260 Minnesota OTSEGO 55330 716 No 777039274 Florida XXXXX XXXXXXX 00000 659 Yes 777039275 Virginia MANASSAS 20109 770 No 777039278 Xxx Xxxx XXXXXXXX 00000 640 No 777039281 Illinois CHICAGO 60645 700 Yes 777039295 Colorado LAKEWOOD 80215 708 No 777039303 Xxxxxxx XXXXX 00000 775 Yes 777039313 Xxx Xxxxxx XXXXXXXXXXX 00000 707 Yes 777039314 Xxxxxxx XXXXXXX 00000 677 No 777039315 Arkansas XXXXXX 72364 759 No 777039316 Utah WEST JORDAN 84088 646 Yes 777039319 Xxxxxx XXX XXXXX 00000 760 No 777039323 Arizona CHANDLER 85249 715 Yes 777039329 Connecticut WESTPORT 6880 723 No 777039333 Florida MIAMI SHORES 33138 779 Yes 777039336 Arizona PHOENIX 85022 725 No 777039338 Arizona PHOENIX 85022 725 No 777039339 California LOS ANGELES 90019 741 Yes 777039345 California ESCONDIDO 92029 685 No 777039349 California FULLERTON 92831 638 No 777039359 Xxxxxx XXX XXXXX 00000 794 No 777039364 Xxxxx XXXXXXX 00000 740 No 777039366 Florida TITUSVILLE 32796 723 No 777039371 California LOS ANGALES 90061 798 No 777039388 Xxxxxx XXXXX XXX XXXXX 00000 779 No 777039395 California LANCASTER 93536 660 Yes 777039396 Xxx Xxxx XXXX XXXXXX 00000 644 Yes 777039410 Xxx Xxxx XXXXXXXXX 00000 656 Yes 777039419 Utah EDEN 84310 754 No 777039420 Xxxxxxx XXXXX 00000 744 No 777039426 Florida TALLAHASSEE 32311 746 No 777039430 Illinois CHICAGO 60632 659 No 777039434 Arizona SURPRISE 85379 682 No 777039439 Arkansas SILOAM SPRINGS 72761 721 No 777039446 Utah FARMINGTON 84025 746 No 777039455 Xxxx XXX XXXXXX 00000 706 No 777039457 Kentucky VINE GROVE 40175 728 No 777039458 Xxxxxxx XXXXXXXX 00000 694 Yes 777039489 Iowa STORY CITY 50248 689 No 777039491 Utah RIVERTON 84065 787 No 777039494 Xxxxx Xxxxxx XXXXXXX 0000 757 No 777039503 Colorado AURORA 80011 654 No 777039521 Alabama XXXXX CROSS ROADS 35763 704 No 777039524 Xxxxxx XXXXX 00000 774 No 777039536 Xxxxxxxxxx XXXX XXXXXXX 00000 663 No 777039542 Arizona GLENDALE 85304 736 No 777039547 Illinois CRETE 60417 792 No 777039550 District of Xxxxxxxx XXXXXXXXXX 00000 696 No 777039551 Missouri BELTON 64012 662 No 777039552 Xxxxx XXXXXXX 00000 758 No 777039553 Xxxxx XXXXXXX 00000 758 No 777039562 Arizona GILBERT 85296 687 No 777039586 Xxx Xxxx XXXXX 00000 703 No 777039593 California RESEDA 91335 681 Yes 777039604 Georgia ATHENS 30606 696 No 777039607 New Jersey TEANECK 7666 703 No 777039611 Wisconsin MILWAUKEE 53216 693 No 777039615 Xxxxxxx XXXXX 00000 695 No 777039622 Xxx Xxxx XXX XXXXXXXX 00000 746 No 777039623 California CALEXICO 92231 641 Yes 777039625 Illinois CHICAGO 60643 681 No 777039637 Florida BRADENTON 34208 676 No 777039646 Xxx Xxxx XXXX XXXXXXXX 00000 724 No 777039660 Illinois CHICAGO 60620 660 Yes 777039663 Texas AUSTIN 78756 706 No 777039675 Illinois CHICAGO 60618 684 Yes 777039685 Colorado MORRISON 80465 742 No 777039699 Xxxxxxx XXXXX 00000 704 No 777039703 Xxxxx Xxxxxxxx XXXXXXXXX 00000 746 No 777039704 Xxx Xxxxxxxxx XXXXXXXXXXXX 0000 670 No 777039714 Massachusetts WESTPORT 2790 669 No 777039718 Xxx Xxxx XXXXXXXX 00000 703 No 777039720 California GOLETA 93117 750 Yes 777039763 Illinois CHICAGO 60629 665 Yes 777039769 Xxxxxxx XXXX XXXX XXXXX 00000 740 Yes 777039770 Xxxxxxx XXXXXXX 00000 670 Yes 777039775 Florida XXXXXX 34667 757 No 777039780 Xxxxxxxxxx XXX XXXX 00000 714 Yes 777039782 Xxxxxxxxxx XX XXXXXXXXX 00000 640 No 777039784 New Jersey XXXXXXXXX 7202 715 No 777039790 Texas GARLAND 75043 793 Yes 777039803 Connecticut WATERBURY 6705 702 Yes 777039805 Colorado LAKEWOOD 80226 753 No 777039823 California SACRAMENTO 95829 802 Yes 777039833 Arizona PHOENIX 85021 777 No 777039838 Illinois CICERO 60804 692 No 777039851 Xxxxxxxxx XXXXX XXXX 00000 729 No 777039859 Texas DESOTO 75115 766 No 777039861 Georgia ELLIJAY 30540 715 No 777039862 Xxxxxxx XXXXX 00000 689 Yes 777039865 Louisiana GEISMAR 70734 751 No 777039869 Florida DELTONA 32738 699 No 777039873 Xxxxxxx XXXXXXXX 00000 735 No 777039875 Xxxxxxxxx XXXX XXXXXX 00000 763 No 777039881 Texas KILLEEN 76541 668 No 777039882 Xxxxxxx XXXXXXXXXXXX 00000 734 No 777039883 Xxx Xxxx XXXXXXXX 00000 676 No 777039889 North Carolina DUCK 27949 750 Yes 777039896 Utah XXXX XXXX XXXX 00000 685 No 777039898 Colorado WESTMINSTER 80021 708 No 777039899 Colorado DENVER 80220 713 No 777039907 Arizona SHOW LOW 85901 668 Yes 777039919 Xxx Xxxx XXXXXXXXXX 00000 641 No 777039925 California MURRIETA 92562 733 No 777039927 Xxxxxxx XXXXXXXXXXXX 00000 725 No 777039932 Colorado AURORA 80011 654 No 777039944 Texas DUNCANVILLE 75137 710 Yes 777039952 Illinois ALGOQUIN 60102 753 No 777039956 Xxx Xxxx XXXXXXXX 00000 671 No 777039969 California LANCASTER 93535 679 No 777039986 Xxx Xxxx XXXXXXXX 00000 691 Yes 777039995 Florida NAPLES 34108 790 No 777040009 Massachusetts MARSHFIELD 2050 722 No 777040010 California MAYWOOD 90270 631 Yes 777040011 Connecticut WATERTOWN 6795 793 Yes 777040024 Colorado SUPERIOR 80027 658 No 777040028 Illinois LOMBARD 60148 783 No 777040033 Xxxxxxxxxx XXXXX XXXX 00000 693 Yes 777040037 Xxxxxxx XXXXXXXX XXXXX 00000 656 Yes 777040044 Arizona BUCKEYE 85326 776 No 777040046 California XXXX XXXXXX XXXX 00000 696 Yes 777040047 New York WYANDANCH 11798 638 No 777040051 Arizona APACHE JUNCTION 85219 778 No 777040054 New Jersey HAMBURG 7419 692 No 777040059 California LOS ANGELES 90018 785 Yes 777040073 Illinois SOMONAUK 60552 639 No 777040074 Xxxxxxxx XXXXXXXXXX 00000 769 No 777040082 Oregon PORTLAND 97266 698 No 777040083 Arizona SUN CITY 85373 723 Yes 777040090 Arizona CHANDLER 85249 665 No 777040092 Arizona TUCSON 85745 739 No 777040097 Xxxxxxxx XXXXX XXXXX 00000 748 No 777040102 Illinois SPRING GROVE 60081 624 No 777040103 Xxxxxxxx XXXXX XXXXX 23059 758 No 777040105 New York OZONE PARK 11417 730 No 777040118 Colorado CARBONDALE 81623 753 Yes 777040123 Xxx Xxxx XXXXXXXXX 00000 780 No 777040126 Xxxxx Xxxxxxxx XXXXX XXXXXXXXXX 00000 769 No 777040133 California SACRAMENTO 95828 666 Yes 777040135 Xxxxxxx XXXXX XXXXX 00000 738 No 777040137 California LOS ANGELES 90065 657 Yes 777040138 Xxxxxxx XXXXXXXXXXXX 00000 725 Yes 777040139 California SAN XXXXXX 95046 694 Yes 777040145 Xxxxxxxx XXXXXX 00000 678 Yes 777040146 Texas DENTON 76207 734 No 777040147 Xxxxxxx XXXXX XXXXXXXXXX 00000 694 No 777040152 California LOS ANGELES 91602 644 Yes 777040158 Xxxxxxx XXXX XXXXX 00000 681 No 777040161 South Carolina HANAHAN 29406 719 Yes 777040169 Wisconsin MILWAUKEE 53216 693 No 777040174 Wisconsin MILWAUKEE 53210 693 No 777040178 Florida HOLIDAY 34691 693 No 777040191 Virginia CHARLOTTESVILLE 22901 715 Yes 777040196 Arkansas MARION 72364 723 No 777040200 Arizona QUEEN CREEK 85242 756 Yes 777040201 Xxx Xxxx XXXXXXXXXXX 00000 794 Yes 777040202 California RIVERSIDE 92507 705 Yes 777040205 Xxx Xxxx XXXXXXXXX 00000 710 Yes 777040222 Wisconsin MILWAUKEE 53209 693 No 777040229 Xxxxxxxxxx XXXXXXX 00000 698 Yes 777040240 Arizona PHOENIX 85037 770 No 777040241 Xxx Xxxx XXXXXX XXXXXX 00000 787 No 777040261 Colorado DENVER 80212 693 No 777040269 Arizona TUCSON 85730 673 No 777040278 Xxxxxxx XXXXX 00000 634 Yes 777040297 New Mexico Albuquerque 87121 787 No 777040299 California COMPTON 90220 647 Yes 777040352 Ohio AKRON 44303 742 Yes 777040354 Mississippi JACKSON 39204 745 No 777040356 California CLOVIS 93611 684 No 777040357 California SAN FRANCISCO 94123 747 Yes 777040365 Xxx Xxxx XXXXXXXX 00000 710 No 777040370 Illinois CHICAGO 60649 753 Yes 777040394 Xxxxxxxxxx XXXXX XXXXXX 00000 646 Yes 777040398 Illinois CHICAGO 60623 696 No 777040399 Xxxxxxx XXXXXXX 00000 732 Yes 777040406 Texas DALLAS 75206 711 No 777040407 Texas DALLAS 75206 711 No 777040413 Xxx Xxxx XXXXXXXX 00000 627 Yes 777040429 Illinois CHICAGO 60707 747 Yes 777040430 California CORCORAN 93212 764 No 777040434 Florida KISSIMMEE 34758 764 No 777040443 Xxxxxxxx XXXXXXXXX 00000 719 No 777040448 Arizona PHOENIX 85037 705 No 777040449 Xxxxxxxxxx XXXXX XXXXXX 00000 816 No 777040478 Maine CAPE XXXXXXXXX 4107 651 No 777040482 Xxxxxxxxxx XXXXXXX XXXXX 00000 723 No 777040484 Florida APOPKA 32703 701 No 777040485 Arizona GLENDALE 85303 634 No 777040487 Xxxxxxx XXXXXX XXXX 00000 680 No 777040551 Illinois XXXXXXX XXXX 00000 641 Yes 777040554 Xxxxxxx XXXXX 00000 694 No 777040557 Xxxxxxxxxx XXXXXXXX 00000 718 No 777040577 Massachusetts FITCHBURG 1420 647 No 777040578 Florida XXXXXXX 33935 772 No 777040593 Texas PRAIRIE VIEW 77446 802 Yes 777040596 Texas PRAIRIE VIEW 77446 802 Yes 777040603 Xxxxxxx XXXXX XXXXXXXXXX 00000 683 Yes 777040635 California TRUCKEE 96161 766 Yes 777040639 Xxx Xxxx XXX XXXX 00000 782 No 777040643 California MODESTO 95355 728 No 777040649 Texas PRAIRIE VIEW 77446 767 Yes 777040658 Florida HIALEAH 33016 682 Yes 777040662 Florida PENSACOLA 32506 626 No 777040663 Illinois CHICAGO 60643 753 Yes 777040671 Connecticut WILTON 6897 738 No 777040676 Illinois BERWYN 60402 680 No 777040677 Florida HIALEAH 33016 759 Yes 777040693 California ALAMO 94507 686 Yes 777040694 Massachusetts SIASCONSET 2156 717 No 777040705 Xxx Xxxx XXXXXX XXXX 00000 784 No 777040708 New Mexico ALBUEQUERQUE 87123 681 No 777040723 New Mexico ALBUQUERQUE 87108 681 No 777040752 Texas XXXX XXXXX 00000 701 No 777040753 Texas XXXX XXXXX 00000 768 No 777040761 Illinois CHICAGO 60625 633 No 777040767 Illinois CHICAGO 60649 667 No 777040776 Colorado CENTENNIAL 80121 668 No 777040779 Arizona PHOENIX 85037 705 No 777040790 Delaware LAUREL 19956 762 No 777040819 Virginia MANASSAS 20109 799 No 777040820 Maryland GAITHERBURG 20878 725 No 777040843 Maryland FREDERICK 21704 679 No 777040918 Xxxxxxx XXXXXXXX 00000 700 No 777041008 Texas SAN ANTONIO 78216 736 No UBS Loan ID Escrow Channel Buydown Modification Modification Date Relocation Balance ------------------------------------------------------------------------------------------------------------------------------------------ 334405839 803.97 Correspondent N No 00/00/0000 Yes 334532900 937.29 Retail N No 00/00/0000 No 334532908 380.6 Retail N No 00/00/0000 No 334532949 1,176.38 Wholesale N No 00/00/0000 No 334655990 0 00/00/0000 334659518 0 No 00/00/0000 334659541 0 No 00/00/0000 334688853 0 Wholesale N 00/00/0000 334720548 0 N 00/00/0000 No 334720549 0 N No 00/00/0000 No 334738020 0 No 00/00/0000 334738165 0 No 00/00/0000 334740598 0 Wholesale N No 00/00/0000 334740620 0 Wholesale N No 00/00/0000 334756494 0 Wholesale N No 00/00/0000 334756551 292.44 Wholesale N No 00/00/0000 334921808 0 Wholesale N No 00/00/0000 335664299 0 00/00/0000 335664300 0 00/00/0000 335664305 2,941.75 00/00/0000 335664316 926.56 00/00/0000 335664354 3,883.57 00/00/0000 335664362 0 00/00/0000 335664376 0 00/00/0000 335664377 0 00/00/0000 335664379 0 00/00/0000 335664387 0 00/00/0000 335664390 0 00/00/0000 335664393 8,750.00 00/00/0000 335736334 0 N No 00/00/0000 335736335 987.03 00/00/0000 335736339 744.6 Correspondent N No 00/00/0000 No 335736340 429.74 Correspondent N No 00/00/0000 No 335736342 0 Correspondent N No 00/00/0000 335736344 0 Correspondent N No 00/00/0000 335736361 0 Correspondent N No 00/00/0000 335751199 0 00/00/0000 335751203 0 00/00/0000 335751204 0 00/00/0000 335751227 0 00/00/0000 335847961 2,702.22 LLW N 00/00/0000 No 335847965 0 Wholesale N 00/00/0000 335847968 0 Correspondent N No 00/00/0000 777005164 0 Correspondent N No 5/4/2004 No 777008436 000 Xxxxxxxxxxxxx X No 00/00/0000 No 777008553 1,399.39 Correspondent N No 00/00/0000 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00/00/0000 777036527 0 Correspondent N No 00/00/0000 777036579 1,549.23 Correspondent N No 00/00/0000 777036689 0 Correspondent N No 00/00/0000 777036692 1,031.50 Correspondent N No 00/00/0000 777036817 0 Correspondent N No 00/00/0000 777036834 0 Correspondent N No 00/00/0000 777036845 0 Correspondent N No 00/00/0000 777036887 860.74 LLW N 00/00/0000 No 777036906 1,271.26 LLW N 00/00/0000 No 777036959 2,222.99 Correspondent N No 00/00/0000 777036960 7,713.73 Correspondent N No 00/00/0000 777036981 1,436.50 LLW N 00/00/0000 No 777037017 1,645.32 Correspondent N No 00/00/0000 777037023 3,263.16 Correspondent N No 00/00/0000 777037059 0 LLW N 00/00/0000 No 777037063 1,933.32 Correspondent N No 00/00/0000 777037087 1,229.44 Correspondent N No 00/00/0000 777037098 0 Correspondent N No 00/00/0000 777037153 0 LLW N 00/00/0000 No 777037155 0 LLW N 00/00/0000 No 777037186 1,124.59 Correspondent N No 00/00/0000 777037187 4,457.98 Correspondent N No 00/00/0000 777037209 811.52 Correspondent N No 00/00/0000 777037225 1,623.91 Correspondent N No 00/00/0000 777037237 4,909.17 LLW N 00/00/0000 No 777037276 1,577.12 LLW N 00/00/0000 No 777037277 1,661.29 LLW N 00/00/0000 No 777037278 1,101.54 LLW N 00/00/0000 No 777037283 749.61 Correspondent N No 00/00/0000 777037299 4,095.58 Correspondent N No 00/00/0000 777037303 3,158.75 LLW N 00/00/0000 No 777037383 903.49 LLW N 00/00/0000 No 777037389 893.49 LLW N 00/00/0000 No 777037399 999.68 Correspondent N No 00/00/0000 777037433 547.87 LLW N 00/00/0000 No 777037445 8,399.14 Correspondent N No 00/00/0000 777037471 1,436.96 Correspondent N No 00/00/0000 777037473 6,340.01 Correspondent N No 00/00/0000 777037563 4,950.00 LLW N 00/00/0000 No 777037566 1,525.86 LLW N 00/00/0000 No 777037583 0 LLW N 00/00/0000 No 777037636 942.64 Correspondent N No 00/00/0000 777037637 0 Correspondent N No 00/00/0000 777037640 3,145.74 Correspondent N No 00/00/0000 777037643 3,951.39 Correspondent N No 00/00/0000 777037665 3,175.33 Correspondent N No 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Correspondent N No 00/00/0000 777038435 629.22 Correspondent N No 00/00/0000 777038462 221.6 LLW N 00/00/0000 No 777038466 0 LLW N 00/00/0000 No 777038500 3,036.85 Correspondent N No 00/00/0000 777038502 0 LLW N 00/00/0000 No 777038505 582.9 LLW N 00/00/0000 No 777038526 828.61 Correspondent N No 00/00/0000 777038540 573.18 LLW N 00/00/0000 No 777038542 447.52 LLW N 00/00/0000 No 777038543 1,246.10 LLW N 00/00/0000 No 777038557 326.18 LLW N 00/00/0000 No 777038558 591.37 LLW N 00/00/0000 No 777038564 2,780.64 LLW N 00/00/0000 No 777038589 1,376.69 LLW N 00/00/0000 No 777038592 386.72 LLW N 00/00/0000 No 777038599 1,530.53 LLW N 00/00/0000 No 777038604 0 LLW N 00/00/0000 No 777038610 849.01 Correspondent N No 00/00/0000 777038630 0 Correspondent N No 00/00/0000 777038634 4,781.67 Correspondent N No 00/00/0000 No 777038637 2,231.62 LLW N 00/00/0000 No 777038644 3,057.22 LLW N 00/00/0000 No 777038649 770.92 LLW N 00/00/0000 No 777038659 0 LLW N 00/00/0000 No 777038676 0 Correspondent N No 00/00/0000 No 777038687 923.15 LLW N 00/00/0000 No 777038694 61.04 LLW N 00/00/0000 No 777038701 993.4 Correspondent N No 00/00/0000 777038709 0 Correspondent N No 00/00/0000 777038710 8,502.58 LLR N 00/00/0000 No 777038728 119.16 LLW N 00/00/0000 No 777038729 0 LLR N 00/00/0000 No 777038749 0 LLW N 00/00/0000 No 777038769 0 LLW N 00/00/0000 No 777038784 666.66 LLW N 00/00/0000 No 777038791 0 LLW N 00/00/0000 No 777038804 1,521.16 Correspondent N No 00/00/0000 777038805 1,942.06 Correspondent N No 00/00/0000 777038814 689.92 Correspondent N No 00/00/0000 777038821 0 LLW N 00/00/0000 No 777038825 608.58 Correspondent N No 00/00/0000 777038831 1,626.95 Correspondent N No 00/00/0000 777038834 0 LLW N 00/00/0000 No 777038842 301.54 Correspondent N No 00/00/0000 777038852 0 LLW N 00/00/0000 No 777038855 0 LLW N 00/00/0000 No 777038877 2,493.26 Correspondent N No 00/00/0000 777038882 0 LLW N 00/00/0000 No 777038891 0 LLW N 00/00/0000 No 777038919 1,750.69 Correspondent N No 00/00/0000 777038933 0 LLW N 00/00/0000 No 777038953 1,483.81 Correspondent N No 00/00/0000 777038960 0 LLW N 00/00/0000 No 777038962 0 LLW N 00/00/0000 No 777038965 0 LLW N 00/00/0000 No 777038966 692.25 LLW N 00/00/0000 No 777038967 3,873.11 Correspondent N No 00/00/0000 777038969 4,114.26 Correspondent N No 00/00/0000 777038979 1,756.76 Correspondent N No 00/00/0000 777038984 1,840.14 Correspondent N No 00/00/0000 No 777039004 0 LLW N 00/00/0000 No 777039016 382.78 LLW N 00/00/0000 No 777039023 1,382.86 LLW N 00/00/0000 No 777039027 0 LLW N 00/00/0000 No 777039034 0 Correspondent N No 00/00/0000 No 777039041 0 LLW N 00/00/0000 No 777039046 641.02 LLW N 00/00/0000 No 777039049 0 LLW N 00/00/0000 No 777039056 0 LLW N 00/00/0000 No 777039060 0 LLW N 00/00/0000 No 777039066 0 LLW N 00/00/0000 No 777039068 2,990.00 LLW N 00/00/0000 No 777039069 2,435.38 LLW N 00/00/0000 No 777039099 0 LLW N 00/00/0000 No 777039112 737.78 LLW N 00/00/0000 No 777039119 792.09 LLW N 00/00/0000 No 777039123 709.11 Correspondent N No 00/00/0000 777039124 2,109.05 Correspondent N No 00/00/0000 No 777039125 000 Xxxxxxxxxxxxx X No 00/00/0000 777039143 1,231.22 LLW N 00/00/0000 No 777039144 2,050.60 LLW N 00/00/0000 No 777039146 697.08 LLW N 00/00/0000 No 777039167 0 LLW N 00/00/0000 No 777039191 683.03 LLW N 00/00/0000 No 777039195 0 LLR N 00/00/0000 No 777039197 361.38 LLW N 00/00/0000 No 777039205 0 LLW N 00/00/0000 No 777039218 921.21 LLW N 00/00/0000 No 777039221 2,245.00 LLW N 00/00/0000 No 777039260 164.66 Correspondent N No 00/00/0000 No 777039274 0 LLW N 00/00/0000 No 777039275 493.19 Correspondent N No 00/00/0000 777039278 1,022.05 LLW N 00/00/0000 No 777039281 0 LLW N 00/00/0000 No 777039295 452.52 Correspondent N No 00/00/0000 No 777039303 0 LLW N 00/00/0000 No 777039313 0 Correspondent N No 00/00/0000 777039314 2,464.67 LLW N 00/00/0000 No 777039315 1,109.19 LLW N 00/00/0000 No 777039316 0 Correspondent N No 00/00/0000 No 777039319 541.93 Correspondent N No 00/00/0000 No 777039323 0 LLW N 00/00/0000 No 777039329 7,400.32 Correspondent N No 00/00/0000 777039333 0 LLR N 00/00/0000 No 777039336 258.93 LLW N 00/00/0000 No 777039338 258.93 LLW N 00/00/0000 No 777039339 0 Correspondent N No 00/00/0000 777039345 831.06 LLW N 00/00/0000 No 777039349 2,971.69 LLW N 00/00/0000 No 777039359 000 Xxxxxxxxxxxxx X No 00/00/0000 No 777039364 1,278.12 LLW N 00/00/0000 No 777039366 1,549.99 Correspondent N No 00/00/0000 777039371 1,929.04 Correspondent N No 00/00/0000 777039388 1,769.45 Correspondent N No 00/00/0000 777039395 0 Correspondent N No 00/00/0000 777039396 0 Correspondent N No 00/00/0000 777039410 0 LLW N 00/00/0000 No 777039419 3,570.84 Correspondent N No 00/00/0000 777039420 3,280.70 LLW N 00/00/0000 No 777039426 1,118.70 LLW N 00/00/0000 No 777039430 1,641.50 LLW N 00/00/0000 No 777039434 820.22 LLW N 00/00/0000 No 777039439 950.11 LLW N 00/00/0000 No 777039446 2,380.22 LLW N 00/00/0000 No 777039455 1,163.35 Correspondent N No 00/00/0000 777039457 1,045.66 LLW N 00/00/0000 No 777039458 0 LLW N 00/00/0000 No 777039489 1,227.31 Correspondent N No 00/00/0000 No 777039491 844.6 Correspondent N No 00/00/0000 No 777039494 8,641.11 Correspondent N No 00/00/0000 777039503 269.08 LLW N 00/00/0000 No 777039521 543.3 LLW N 00/00/0000 No 777039524 370.62 LLW N 00/00/0000 No 777039536 1,648.05 LLW N 00/00/0000 No 777039542 854.7 LLW N 00/00/0000 No 777039547 1,165.76 LLW N 00/00/0000 No 777039550 473.67 LLW N 00/00/0000 No 777039551 851.64 LLW N 00/00/0000 No 777039552 2,086.00 LLW N 00/00/0000 No 777039553 1,873.50 LLW N 00/00/0000 No 777039562 1,230.39 Correspondent N No 00/00/0000 No 777039586 3,343.68 Correspondent N No 00/00/0000 No 777039593 0 LLW N 00/00/0000 No 777039604 831.59 LLW N 00/00/0000 No 777039607 1,770.50 LLW N 00/00/0000 No 777039611 890.98 LLW N 00/00/0000 No 777039615 2,995.92 LLW N 00/00/0000 No 777039622 440.08 Correspondent N No 00/00/0000 Yes 777039623 0 Correspondent N No 00/00/0000 777039625 2,143.94 LLW N 00/00/0000 No 777039637 107.49 LLW N 00/00/0000 No 777039646 1,187.83 LLW N 00/00/0000 No 777039660 0 LLW N 00/00/0000 No 777039663 2,205.47 LLR N 00/00/0000 No 777039675 0 LLW N 00/00/0000 No 777039685 3,183.72 LLW N 00/00/0000 No 777039699 2,536.87 LLW N 00/00/0000 No 777039703 496.07 LLW N 00/00/0000 No 777039704 1,289.96 LLW N 00/00/0000 No 777039714 572.62 LLW N 00/00/0000 No 777039718 1,808.94 Correspondent N No 00/00/0000 No 777039720 0 Correspondent N No 00/00/0000 777039763 0 LLW N 00/00/0000 No 777039769 0 LLR N 00/00/0000 No 777039770 0 LLW N 00/00/0000 No 777039775 800.7 LLW N 00/00/0000 No 777039780 0 LLW N 00/00/0000 No 777039782 5,625.00 Correspondent N No 00/00/0000 No 777039784 1,224.51 LLW N 00/00/0000 No 777039790 0 LLW N 00/00/0000 No 777039803 0 Correspondent N No 00/00/0000 777039805 1,216.45 Correspondent N No 00/00/0000 No 777039823 0 Correspondent N No 00/00/0000 777039833 2,559.55 LLR N 00/00/0000 No 777039838 1,907.91 LLW N 00/00/0000 No 777039851 000 XXX X 00/00/0000 No 777039859 4,374.30 LLW N 00/00/0000 No 777039861 2,233.34 LLW N 00/00/0000 No 777039862 0 LLW N 00/00/0000 No 777039865 1,673.01 LLW N 00/00/0000 No 777039869 3,542.35 LLW N 00/00/0000 No 777039873 1,678.34 Correspondent N No 00/00/0000 No 777039875 866.28 LLR N 00/00/0000 No 777039881 2,264.55 LLW N 00/00/0000 No 777039882 360.55 LLW N 00/00/0000 No 777039883 823.07 LLW N 00/00/0000 No 777039889 0 LLR N 00/00/0000 No 777039896 1,274.62 LLW N 00/00/0000 No 777039898 391.3 Correspondent N No 00/00/0000 No 777039899 905.29 Correspondent N No 00/00/0000 No 777039907 0 Correspondent N No 00/00/0000 777039919 2,905.44 LLW N 00/00/0000 No 777039925 3,545.46 Correspondent N No 00/00/0000 777039927 4,629.19 Correspondent N No 00/00/0000 777039932 277.29 LLW N 00/00/0000 No 777039944 0 LLW N 00/00/0000 No 777039952 442.61 Correspondent N No 00/00/0000 Yes 777039956 2,275.24 LLW N 00/00/0000 No 777039969 2,394.38 LLW N 00/00/0000 No 777039986 0 LLW N 00/00/0000 No 777039995 12,494.34 LLR N 00/00/0000 No 777040009 747.68 LLW N 00/00/0000 No 777040010 0 LLW N 00/00/0000 No 777040011 0 LLW N 00/00/0000 No 777040024 1,382.07 Correspondent N No 00/00/0000 777040028 2,821.18 LLW N 00/00/0000 No 777040033 0 LLW N 00/00/0000 No 777040037 0 LLW N 00/00/0000 No 777040044 993.98 Correspondent N No 00/00/0000 No 777040046 0 Correspondent N No 00/00/0000 777040047 2,574.56 LLW N 00/00/0000 No 777040051 157.96 LLW N 00/00/0000 No 777040054 1,562.77 Correspondent N No 00/00/0000 777040059 0 LLW N 00/00/0000 No 777040073 863.92 LLW N 00/00/0000 No 777040074 1,235.37 LLW N 00/00/0000 No 777040082 1,304.80 LLW N 00/00/0000 No 777040083 0 LLW N 00/00/0000 No 777040090 606.54 LLW N 00/00/0000 No 777040092 3,112.90 LLW N 00/00/0000 No 777040097 911.35 Correspondent N No 00/00/0000 777040102 1,303.52 LLW N 00/00/0000 No 777040103 888.19 LLR N 00/00/0000 No 777040105 907.37 LLW N 00/00/0000 No 777040118 0 LLW N 00/00/0000 No 777040123 835.85 LLW N 00/00/0000 No 777040126 899.19 LLW N 00/00/0000 No 777040133 0 Correspondent N No 00/00/0000 777040135 12,712.08 Correspondent N No 00/00/0000 No 777040137 0 Correspondent N No 00/00/0000 777040138 0 LLW N 00/00/0000 No 777040139 0 Correspondent N No 00/00/0000 777040145 0 LLW N 00/00/0000 No 777040146 3,647.58 LLW N 00/00/0000 No 777040147 1,245.00 LLW N 00/00/0000 No 777040152 0 Correspondent N No 00/00/0000 777040158 59 LLW N 00/00/0000 No 777040161 0 LLW N 00/00/0000 No 777040169 1,506.87 LLW N 00/00/0000 No 777040174 1,059.76 LLW N 00/00/0000 No 777040178 1,652.24 LLW N 00/00/0000 No 777040191 0 LLW N 00/00/0000 No 777040196 1,139.52 LLW N 00/00/0000 No 777040200 0 LLR N 00/00/0000 No 777040201 0 LLW N 00/00/0000 No 777040202 0 LLW N 00/00/0000 No 777040205 0 LLW N 00/00/0000 No 777040222 1,397.51 LLW N 00/00/0000 No 777040229 0 Correspondent N No 00/00/0000 777040240 930.68 LLW N 00/00/0000 No 777040241 545.32 LLW N 00/00/0000 No 777040261 799.84 Correspondent N No 00/00/0000 777040269 740.76 Correspondent N No 00/00/0000 777040278 0 Correspondent N No 00/00/0000 777040297 638.4 Correspondent N No 00/00/0000 No 777040299 0 Correspondent N No 00/00/0000 777040352 0 LLR N 00/00/0000 No 777040354 1,131.69 LLW N 00/00/0000 No 777040356 2,222.85 Correspondent N No 00/00/0000 777040357 0 Correspondent N No 00/00/0000 777040365 526.22 LLW N 00/00/0000 No 777040370 0 LLW N 00/00/0000 No 777040394 0 LLW N 00/00/0000 No 777040398 1,024.56 LLW N 00/00/0000 No 777040399 0 LLW N 00/00/0000 No 777040406 1,821.96 Correspondent N No 00/00/0000 No 777040407 1,821.96 Correspondent N No 00/00/0000 No 777040413 0 LLW N 00/00/0000 No 777040429 0 LLW N 00/00/0000 No 777040430 532.22 LLW N 00/00/0000 No 777040434 2,116.09 LLW N 00/00/0000 No 777040443 623.23 Correspondent N No 00/00/0000 No 777040448 453.4 LLW N 00/00/0000 No 777040449 4,453.72 LLR N 00/00/0000 No 777040478 920.93 Correspondent N No 00/00/0000 Yes 777040482 1,635.46 Correspondent N No 00/00/0000 777040484 1,817.90 LLW N 00/00/0000 No 777040485 472.92 LLR N 00/00/0000 No 777040487 2,821.95 LLW N 00/00/0000 No 777040551 0 LLW N 00/00/0000 No 777040554 6,500.00 LLW N 00/00/0000 No 777040557 1,765.13 LLW N 00/00/0000 No 777040577 1,352.25 LLW N 00/00/0000 No 777040578 4,032.22 LLW N 00/00/0000 No 777040593 0 LLW N 00/00/0000 No 777040596 0 LLW N 00/00/0000 No 777040603 0 LLW N 00/00/0000 No 777040635 0 LLR N 00/00/0000 No 777040639 1,768.84 LLW N 00/00/0000 No 777040643 2,102.90 LLW N 00/00/0000 No 777040649 0 LLW N 00/00/0000 No 777040658 0 LLW N 00/00/0000 No 777040662 1,233.15 LLW N 00/00/0000 No 777040663 0 LLW N 00/00/0000 No 777040671 8,502.58 Correspondent N No 00/00/0000 777040676 549.94 LLW N 00/00/0000 No 777040677 0 LLW N 00/00/0000 No 777040693 0 LLW N 00/00/0000 No 777040694 3,086.86 LLW N 00/00/0000 No 777040705 6,513.04 LLW N 00/00/0000 No 777040708 957.81 LLW N 00/00/0000 No 777040723 810.35 LLW N 00/00/0000 No 777040752 2,386.68 LLW N 00/00/0000 No 777040753 2,386.68 LLW N 00/00/0000 No 777040761 1,377.87 LLW N 00/00/0000 No 777040767 3,486.81 LLW N 00/00/0000 No 777040776 2,607.06 LLW N 00/00/0000 No 777040779 420.26 LLW N 00/00/0000 No 777040790 637.85 Correspondent N No 00/00/0000 Yes 777040819 882.76 Correspondent N No 00/00/0000 Yes 777040820 1,200.49 Correspondent N No 00/00/0000 Yes 777040843 2,315.38 Correspondent N No 00/00/0000 No 777040918 3,480.87 Correspondent N No 00/00/0000 Yes 777041008 3,680.01 LLR N 00/00/0000 No UBS Loan ID Section 32 Grade FNMA Eligible DELCODE ORIGPORT -------------------------------------------------------------------------------------------------------------------------------------- 334405839 Not A Section 32 Loan Conforming SERVICED 83359 334532900 Not A Section 32 Loan Conforming SERVICED 87646 334532908 Not A Section 32 Loan Conforming SERVICED 87646 334532949 Not A Section 32 Loan Conforming SERVICED 87646 334655990 Conforming SERVICED 91596 334659518 Not A Section 32 Loan Conforming SERVICED 91754 334659541 Not A Section 32 Loan Conforming SERVICED 91752 334688853 Not A Section 32 Loan Conforming SERVICED 92466 334720548 Not A Section 32 Loan Non-Conforming SERVICED 93286 334720549 Not A Section 32 Loan Non-Conforming SERVICED 93290 334738020 Not A Section 32 Loan A+ Conforming SERVICED 93950 334738165 Not A Section 32 Loan A+ Conforming SERVICED 93950 334740598 Not A Section 32 Loan Conforming SERVICED 93926 334740620 Not A Section 32 Loan Conforming SERVICED 93926 334756494 Not A Section 32 Loan Conforming SERVICED 95184 334756551 Not A Section 32 Loan Conforming SERVICED 95184 334921808 Not A Section 32 Loan Conforming SERVICED 97820 335664299 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664300 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664305 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664316 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664354 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664362 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664376 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664377 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664379 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664387 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664390 Not A Section 32 Loan Non-Conforming SERVICED 122421 335664393 Not A Section 32 Loan Non-Conforming SERVICED 122421 335736334 Not A Section 32 Loan Conforming SERVICED 124311 335736335 Not A Section 32 Loan Conforming SERVICED 124311 335736339 Not A Section 32 Loan Conforming SERVICED 124311 335736340 Not A Section 32 Loan Conforming SERVICED 124311 335736342 Not A Section 32 Loan Conforming SERVICED 124311 335736344 Not A Section 32 Loan Non-Conforming SERVICED 124311 335736361 Not A Section 32 Loan Conforming SERVICED 124313 335751199 Not A Section 32 Loan Non-Conforming SERVICED 127859 335751203 Not A Section 32 Loan Non-Conforming SERVICED 127859 335751204 Not A Section 32 Loan Non-Conforming SERVICED 127859 335751227 Not A Section 32 Loan Non-Conforming SERVICED 127859 335847961 Not A Section 32 Loan Conforming SERVICED 131725 335847965 Not A Section 32 Loan Conforming SERVICED 131717 335847968 Not A Section 32 Loan Conforming SERVICED 131717 777005164 Not A Section 32 Loan Non-Conforming SERVICED 36842 777008436 Not A Section 32 Loan Conforming SERVICED 44167 777008553 Not A Section 32 Loan Conforming SERVICED 44462 777008555 Not A Section 32 Loan Conforming SERVICED 44460 777008649 Not A Section 32 Loan Conforming SERVICED 44686 777010295 Not A Section 32 Loan Non-Conforming SERVICED 47503 777010304 Not A Section 32 Loan Non-Conforming SERVICED 47531 777010306 Not A Section 32 Loan Conforming SERVICED 47522 777010315 Not A Section 32 Loan Conforming SERVICED 47532 777011692 Not A Section 32 Loan Conforming SERVICED 50761 777017938 Not A Section 32 Loan Conforming SERVICED 64783 777018098 Not A Section 32 Loan Conforming SERVICED 65098 777018345 Not A Section 32 Loan Conforming SERVICED 67136 777019969 Not A Section 32 Loan Conforming SERVICED 68401 777022040 Not A Section 32 Loan Conforming SERVICED 71605 777022104 Not A Section 32 Loan Conforming SERVICED 71981 777022731 Not A Section 32 Loan Conforming SERVICED 73392 777022867 Not A Section 32 Loan Conforming SERVICED 73728 777022899 Not A Section 32 Loan Conforming SERVICED 73794 777023524 Not A Section 32 Loan Conforming SERVICED 75220 777024142 Not A Section 32 Loan Conforming SERVICED 76824 777024145 Not A Section 32 Loan Conforming SERVICED 76869 777024357 Not A Section 32 Loan Conforming SERVICED 77325 777024375 Not A Section 32 Loan Non-Conforming SERVICED 77365 777024623 Not A Section 32 Loan Conforming SERVICED 77940 777024877 Not A Section 32 Loan Conforming SERVICED 78701 777024948 Not A Section 32 Loan Conforming SERVICED 78940 777025030 Not A Section 32 Loan Conforming SERVICED 79100 777025382 Not A Section 32 Loan Conforming SERVICED 79843 777025988 Not A Section 32 Loan Conforming SERVICED 81390 777026173 Not A Section 32 Loan Conforming SERVICED 81793 777026199 Not A Section 32 Loan Conforming SERVICED 81901 777026269 Not A Section 32 Loan Conforming SERVICED 82052 777026273 Not A Section 32 Loan Conforming SERVICED 82050 777026468 Not A Section 32 Loan Conforming SERVICED 82519 777026595 Not A Section 32 Loan Conforming SERVICED 82780 777026750 Not A Section 32 Loan Conforming SERVICED 83693 777026765 Not A Section 32 Loan Conforming SERVICED 83773 777027150 Not A Section 32 Loan Conforming SERVICED 84738 777027202 Not A Section 32 Loan Conforming SERVICED 84837 777027266 Not A Section 32 Loan Conforming SERVICED 85070 777027293 Not A Section 32 Loan Non-Conforming SERVICED 85101 777027474 Not A Section 32 Loan Conforming SERVICED 85478 777027538 Not A Section 32 Loan Conforming SERVICED 85682 777027649 Not A Section 32 Loan Conforming SERVICED 85919 777027783 Not A Section 32 Loan Conforming SERVICED 86246 777028136 Not A Section 32 Loan Conforming SERVICED 87278 777028237 Not A Section 32 Loan Conforming SERVICED 87608 777028498 Not A Section 32 Loan Conforming SERVICED 88221 777028656 Not A Section 32 Loan Conforming SERVICED 88537 777028666 Not A Section 32 Loan Conforming SERVICED 88586 777028816 Not A Section 32 Loan Conforming SERVICED 88938 777028834 Not A Section 32 Loan Conforming SERVICED 88991 777028888 Not A Section 32 Loan Conforming SERVICED 89099 777028924 Not A Section 32 Loan Non-Conforming SERVICED 89191 777028942 Not A Section 32 Loan Conforming SERVICED 89212 777028979 Not A Section 32 Loan Conforming SERVICED 89303 777028989 Not A Section 32 Loan Conforming SERVICED 95279 777029007 Not A Section 32 Loan Conforming SERVICED 89368 777029082 Not A Section 32 Loan Conforming SERVICED 89505 777029110 Not A Section 32 Loan Conforming SERVICED 89622 777029183 Not A Section 32 Loan Conforming SERVICED 89866 777029204 Not A Section 32 Loan Conforming SERVICED 89908 777029210 Not A Section 32 Loan Conforming SERVICED 89926 777029320 Not A Section 32 Loan Conforming SERVICED 90183 777029383 Not A Section 32 Loan Conforming SERVICED 90362 777029420 Not A Section 32 Loan Conforming SERVICED 90805 777029431 Not A Section 32 Loan Conforming SERVICED 91074 777029449 Not A Section 32 Loan Conforming SERVICED 91086 777029455 Not A Section 32 Loan Conforming SERVICED 91114 777029589 Not A Section 32 Loan Conforming SERVICED 91558 777029659 Not A Section 32 Loan Conforming SERVICED 91704 777029734 Not A Section 32 Loan Conforming SERVICED 91865 777029774 Not A Section 32 Loan Conforming SERVICED 91966 777029776 Not A Section 32 Loan Conforming SERVICED 91980 777029777 Not A Section 32 Loan Conforming SERVICED 91964 777029799 Not A Section 32 Loan Non-Conforming SERVICED 92021 777029815 Not A Section 32 Loan Conforming SERVICED 92050 777029931 Not A Section 32 Loan Conforming SERVICED 92308 777029950 Not A Section 32 Loan Conforming SERVICED 92366 777029979 Not A Section 32 Loan Conforming SERVICED 92409 777029981 Not A Section 32 Loan Conforming SERVICED 92413 777030042 Not A Section 32 Loan Conforming SERVICED 92553 777030211 Not A Section 32 Loan Conforming SERVICED 92923 777030263 Not A Section 32 Loan Conforming SERVICED 93021 777030286 Not A Section 32 Loan Conforming SERVICED 93070 777030296 Not A Section 32 Loan Conforming SERVICED 93088 777030324 Not A Section 32 Loan Conforming SERVICED 93148 777030335 Not A Section 32 Loan Conforming SERVICED 93170 777030414 Not A Section 32 Loan Conforming SERVICED 93389 777030515 Not A Section 32 Loan Conforming SERVICED 101327 777030637 Not A Section 32 Loan Conforming SERVICED 93876 777030643 Not A Section 32 Loan Conforming SERVICED 93888 777030846 Not A Section 32 Loan Conforming SERVICED 94608 777030944 Not A Section 32 Loan Conforming SERVICED 95198 777031066 Not A Section 32 Loan Non-Conforming SERVICED 95494 777031118 Not A Section 32 Loan Conforming SERVICED 95661 777031127 Not A Section 32 Loan Conforming SERVICED 95682 777031148 Not A Section 32 Loan Conforming SERVICED 95737 777031374 Not A Section 32 Loan Conforming SERVICED 96276 777031379 Not A Section 32 Loan Conforming SERVICED 96292 777031569 Not A Section 32 Loan Conforming SERVICED 97654 777031602 Not A Section 32 Loan Conforming SERVICED 97714 777031677 Not A Section 32 Loan Conforming SERVICED 97901 777031683 Not A Section 32 Loan Conforming SERVICED 97909 777031704 Not A Section 32 Loan Conforming SERVICED 97952 777031705 Not A Section 32 Loan Conforming SERVICED 97954 777031766 Not A Section 32 Loan Conforming SERVICED 98104 777031783 Not A Section 32 Loan Conforming SERVICED 98388 777031836 Not A Section 32 Loan Conforming SERVICED 98491 777031906 Not A Section 32 Loan Conforming SERVICED 98672 777031978 Not A Section 32 Loan Conforming SERVICED 98846 777032001 Not A Section 32 Loan Conforming SERVICED 98902 777032047 Not A Section 32 Loan Conforming SERVICED 99020 777032061 Not A Section 32 Loan Conforming SERVICED 99051 777032109 Not A Section 32 Loan Conforming SERVICED 99185 777032158 Not A Section 32 Loan Conforming SERVICED 99291 777032182 Not A Section 32 Loan Conforming SERVICED 99354 777032185 Not A Section 32 Loan Conforming SERVICED 99360 777032311 Not A Section 32 Loan Conforming SERVICED 99899 777032372 Not A Section 32 Loan Conforming SERVICED 100027 777032373 Not A Section 32 Loan Conforming SERVICED 100031 777032448 Not A Section 32 Loan Conforming SERVICED 100198 777032451 Not A Section 32 Loan Non-Conforming SERVICED 100204 777032459 Not A Section 32 Loan Conforming SERVICED 100214 777032614 Not A Section 32 Loan Conforming SERVICED 100695 777032632 Not A Section 32 Loan Conforming SERVICED 100733 777032637 Not A Section 32 Loan Conforming SERVICED 100743 777032699 Not A Section 32 Loan Conforming SERVICED 100880 777032712 Not A Section 32 Loan Conforming SERVICED 100906 777032734 Not A Section 32 Loan Non-Conforming SERVICED 100986 777032756 Not A Section 32 Loan Conforming SERVICED 101000 777032767 Not A Section 32 Loan Conforming SERVICED 101023 777032790 Not A Section 32 Loan Conforming SERVICED 101065 777032859 Not A Section 32 Loan Conforming SERVICED 101253 777032875 Not A Section 32 Loan Conforming SERVICED 101292 777032886 Not A Section 32 Loan Non-Conforming SERVICED 101309 777032887 Not A Section 32 Loan Conforming SERVICED 101307 777032914 Not A Section 32 Loan Conforming SERVICED 101365 777032945 Not A Section 32 Loan Conforming SERVICED 101711 777033051 Not A Section 32 Loan Conforming SERVICED 102078 777033075 Not A Section 32 Loan Conforming SERVICED 102134 777033293 Not A Section 32 Loan Conforming SERVICED 102601 777033294 Not A Section 32 Loan Conforming SERVICED 102648 777033302 Not A Section 32 Loan Non-Conforming SERVICED 102616 777033303 Not A Section 32 Loan Conforming SERVICED 102618 777033312 Not A Section 32 Loan Conforming SERVICED 102657 777033353 Not A Section 32 Loan Conforming SERVICED 102752 777033357 Not A Section 32 Loan Conforming SERVICED 102773 777033367 Not A Section 32 Loan Conforming SERVICED 102792 777033463 Not A Section 32 Loan Conforming SERVICED 104271 777033513 Not A Section 32 Loan Conforming SERVICED 104401 777033559 Not A Section 32 Loan Conforming SERVICED 104800 777033569 Not A Section 32 Loan Conforming SERVICED 104522 777033613 Not A Section 32 Loan Conforming SERVICED 104798 777033633 Not A Section 32 Loan Conforming SERVICED 104837 777033634 Not A Section 32 Loan Conforming SERVICED 104839 777033661 Not A Section 32 Loan Conforming SERVICED 104900 777033665 Not A Section 32 Loan Conforming SERVICED 104914 777033688 Not A Section 32 Loan Conforming SERVICED 104984 777033703 Not A Section 32 Loan Non-Conforming SERVICED 105026 777033797 Not A Section 32 Loan Non-Conforming SERVICED 105231 777033923 Not A Section 32 Loan Non-Conforming SERVICED 109495 777033927 Not A Section 32 Loan Conforming SERVICED 109501 777033998 Not A Section 32 Loan Conforming SERVICED 105866 777034066 Not A Section 32 Loan Conforming SERVICED 106204 777034134 Not A Section 32 Loan Conforming SERVICED 108516 777034137 Not A Section 32 Loan Conforming SERVICED 108522 777034177 Not A Section 32 Loan Conforming SERVICED 108627 777034246 Not A Section 32 Loan Conforming SERVICED 108765 777034318 Not A Section 32 Loan Conforming SERVICED 108974 777034336 Not A Section 32 Loan Conforming SERVICED 108999 777034338 Not A Section 32 Loan Non-Conforming SERVICED 109015 777034365 Not A Section 32 Loan Conforming SERVICED 109058 777034371 Not A Section 32 Loan Conforming SERVICED 109076 777034378 Not A Section 32 Loan Conforming SERVICED 109090 777034387 Not A Section 32 Loan Conforming SERVICED 109120 777034427 Not A Section 32 Loan Conforming SERVICED 109195 777034429 Not A Section 32 Loan Conforming SERVICED 109205 777034739 Not A Section 32 Loan Non-Conforming SERVICED 101298 777034983 Not A Section 32 Loan Conforming SERVICED 114212 777035007 Not A Section 32 Loan Conforming SERVICED 114245 777035170 Not A Section 32 Loan Conforming SERVICED 131709 777035245 Not A Section 32 Loan Non-Conforming SERVICED 118083 777035278 Not A Section 32 Loan Conforming SERVICED 117987 777035300 Not A Section 32 Loan Non-Conforming SERVICED 117839 777035335 Not A Section 32 Loan Conforming SERVICED 118039 777035428 Not A Section 32 Loan Conforming SERVICED 117925 777035496 Not A Section 32 Loan Conforming SERVICED 115281 777035617 Not A Section 32 Loan Conforming SERVICED 115643 777035624 Not A Section 32 Loan Conforming SERVICED 115652 777035710 Not A Section 32 Loan Conforming SERVICED 117161 777035723 Not A Section 32 Loan Conforming SERVICED 117518 777035760 Not A Section 32 Loan Non-Conforming SERVICED 117530 777035762 Not A Section 32 Loan Conforming SERVICED 117560 777035786 Not A Section 32 Loan Conforming SERVICED 117609 777035933 Not A Section 32 Loan Conforming SERVICED 124487 777035949 Not A Section 32 Loan Conforming SERVICED 118373 777035988 Not A Section 32 Loan Non-Conforming OWNED/SETTLED 118343 777035997 Not A Section 32 Loan Conforming OWNED/SETTLED 118359 777035998 Not A Section 32 Loan Conforming SERVICED 118355 777036128 Not A Section 32 Loan Conforming SERVICED 118814 777036313 Not A Section 32 Loan Non-Conforming SERVICED 119193 777036315 Not A Section 32 Loan Non-Conforming OWNED/SETTLED 119177 777036329 Not A Section 32 Loan Conforming SERVICED 119203 777036349 Not A Section 32 Loan Conforming SERVICED 119240 777036369 Not A Section 32 Loan Conforming SERVICED 119329 777036443 Not A Section 32 Loan Conforming SERVICED 120346 777036459 Not A Section 32 Loan Non-Conforming SERVICED 119482 777036524 Not A Section 32 Loan Non-Conforming SERVICED 120506 777036527 Not A Section 32 Loan Conforming OWNED/SETTLED 120434 777036579 Not A Section 32 Loan Non-Conforming SERVICED 123073 777036689 Not A Section 32 Loan Non-Conforming SERVICED 119847 777036692 Not A Section 32 Loan Conforming SERVICED 119845 777036817 Not A Section 32 Loan Conforming SERVICED 120422 777036834 Not A Section 32 Loan Conforming SERVICED 120402 777036845 Not A Section 32 Loan Non-Conforming SERVICED 120442 777036887 Not A Section 32 Loan Conforming SERVICED 119999 777036906 Not A Section 32 Loan Conforming SERVICED 120039 777036959 Not A Section 32 Loan Conforming SERVICED 120117 777036960 Not A Section 32 Loan Non-Conforming SERVICED 120119 777036981 Not A Section 32 Loan Conforming SERVICED 120582 777037017 Not A Section 32 Loan Non-Conforming SERVICED 120640 777037023 Not A Section 32 Loan Conforming SERVICED 120672 777037059 Not A Section 32 Loan Conforming SERVICED 120754 777037063 Not A Section 32 Loan Non-Conforming SERVICED 121835 777037087 Not A Section 32 Loan Conforming SERVICED 123451 777037098 Not A Section 32 Loan Conforming OWNED/SETTLED 121058 777037153 Not A Section 32 Loan Non-Conforming SERVICED 120845 777037155 Not A Section 32 Loan Non-Conforming SERVICED 120849 777037186 Not A Section 32 Loan Conforming SERVICED 120898 777037187 Not A Section 32 Loan Non-Conforming SERVICED 120896 777037209 Not A Section 32 Loan Conforming SERVICED 120939 777037225 Not A Section 32 Loan Conforming SERVICED 120972 777037237 Not A Section 32 Loan Conforming SERVICED 120996 777037276 Not A Section 32 Loan Conforming SERVICED 121101 777037277 Not A Section 32 Loan Conforming SERVICED 121103 777037278 Not A Section 32 Loan Conforming SERVICED 121105 777037283 Not A Section 32 Loan Conforming SERVICED 121114 777037299 Not A Section 32 Loan Non-Conforming SERVICED 121152 777037303 Not A Section 32 Loan Conforming SERVICED 121158 777037383 Not A Section 32 Loan Conforming SERVICED 121319 777037389 Not A Section 32 Loan Conforming SERVICED 121331 777037399 Not A Section 32 Loan Conforming SERVICED 121361 777037433 Not A Section 32 Loan Conforming SERVICED 121424 777037445 Not A Section 32 Loan Conforming SERVICED 121460 777037471 Not A Section 32 Loan Conforming SERVICED 121576 777037473 Not A Section 32 Loan Conforming SERVICED 121574 777037563 Not A Section 32 Loan Conforming SERVICED 121725 777037566 Not A Section 32 Loan Conforming SERVICED 121730 777037583 Not A Section 32 Loan Conforming SERVICED 121756 777037636 Not A Section 32 Loan Non-Conforming SERVICED 121824 777037637 Not A Section 32 Loan Conforming SERVICED 121822 777037640 Not A Section 32 Loan Non-Conforming SERVICED 121871 777037643 Not A Section 32 Loan Conforming SERVICED 121851 777037665 Not A Section 32 Loan Conforming OWNED/SETTLED 121901 777037670 Not A Section 32 Loan Non-Conforming SERVICED 121922 777037677 Not A Section 32 Loan Conforming SERVICED 121926 777037717 Not A Section 32 Loan Conforming SERVICED 122064 777037727 Not A Section 32 Loan Conforming SERVICED 122088 777037770 Not A Section 32 Loan Conforming SERVICED 122207 777037795 Not A Section 32 Loan Conforming SERVICED 122255 777037811 Not A Section 32 Loan Conforming SERVICED 122287 777037814 Not A Section 32 Loan Conforming SERVICED 122285 777037840 Not A Section 32 Loan Conforming SERVICED 122435 777037846 Not A Section 32 Loan Conforming SERVICED 122441 777037864 Not A Section 32 Loan Conforming SERVICED 122491 777037866 Not A Section 32 Loan Conforming SERVICED 122495 777037875 Not A Section 32 Loan Non-Conforming SERVICED 122513 777037891 Not A Section 32 Loan Conforming SERVICED 122547 777037895 Not A Section 32 Loan Conforming SERVICED 122539 777037929 Not A Section 32 Loan Conforming SERVICED 122917 777037940 Not A Section 32 Loan Conforming SERVICED 122881 777037945 Not A Section 32 Loan Conforming SERVICED 122891 777037954 Not A Section 32 Loan Non-Conforming SERVICED 122919 777037986 Not A Section 32 Loan Non-Conforming SERVICED 122982 777037991 Not A Section 32 Loan Conforming SERVICED 122988 777038024 Not A Section 32 Loan Conforming SERVICED 123063 777038029 Not A Section 32 Loan Conforming SERVICED 123089 777038040 Not A Section 32 Loan Conforming SERVICED 123101 777038041 Not A Section 32 Loan Conforming SERVICED 123103 777038055 Not A Section 32 Loan Conforming SERVICED 123135 777038064 Not A Section 32 Loan Non-Conforming SERVICED 123217 777038075 Not A Section 32 Loan Conforming SERVICED 123243 777038079 Not A Section 32 Loan Conforming SERVICED 123249 777038091 Not A Section 32 Loan Conforming SERVICED 123284 777038103 Not A Section 32 Loan Conforming OWNED/SETTLED 123304 777038107 Not A Section 32 Loan Non-Conforming SERVICED 123378 777038143 Not A Section 32 Loan Non-Conforming SERVICED 123368 777038147 Not A Section 32 Loan Conforming SERVICED 123417 777038162 Not A Section 32 Loan Conforming SERVICED 123453 777038175 Not A Section 32 Loan Conforming SERVICED 123463 777038181 Not A Section 32 Loan Conforming SERVICED 123524 777038182 Not A Section 32 Loan Conforming SERVICED 123522 777038185 Not A Section 32 Loan Conforming SERVICED 123473 777038191 Not A Section 32 Loan Non-Conforming SERVICED 123536 777038198 Not A Section 32 Loan Conforming SERVICED 131431 777038199 Not A Section 32 Loan Conforming SERVICED 123666 777038204 Not A Section 32 Loan Conforming SERVICED 123560 777038206 Not A Section 32 Loan Non-Conforming SERVICED 123564 777038227 Not A Section 32 Loan Conforming SERVICED 123604 777038229 Not A Section 32 Loan Conforming SERVICED 123608 777038235 Not A Section 32 Loan Conforming SERVICED 123620 777038239 Not A Section 32 Loan Conforming SERVICED 123628 777038255 Not A Section 32 Loan Conforming SERVICED 123662 777038256 Not A Section 32 Loan Non-Conforming SERVICED 123668 777038264 Not A Section 32 Loan Conforming SERVICED 123683 777038270 Not A Section 32 Loan Conforming SERVICED 123697 777038289 Not A Section 32 Loan Conforming SERVICED 123718 777038312 Not A Section 32 Loan Non-Conforming SERVICED 123859 777038331 Not A Section 32 Loan Non-Conforming SERVICED 123938 777038332 Not A Section 32 Loan Non-Conforming SERVICED 123940 777038335 Not A Section 32 Loan Conforming SERVICED 123948 777038349 Not A Section 32 Loan Conforming SERVICED 123980 777038359 Not A Section 32 Loan Conforming SERVICED 124249 777038362 Not A Section 32 Loan Conforming SERVICED 124202 777038363 Not A Section 32 Loan Conforming SERVICED 124241 777038367 Not A Section 32 Loan Conforming SERVICED 124245 777038375 Not A Section 32 Loan Conforming SERVICED 124227 777038377 Not A Section 32 Loan Conforming SERVICED 124219 777038378 Not A Section 32 Loan Conforming SERVICED 124229 777038382 Not A Section 32 Loan Conforming SERVICED 124247 777038383 Not A Section 32 Loan Conforming SERVICED 124235 777038401 Not A Section 32 Loan Non-Conforming SERVICED 124281 777038417 Not A Section 32 Loan Conforming SERVICED 124325 777038420 Not A Section 32 Loan Non-Conforming SERVICED 124334 777038423 Not A Section 32 Loan Conforming SERVICED 124372 777038425 Not A Section 32 Loan Non-Conforming SERVICED 124348 777038435 Not A Section 32 Loan Conforming SERVICED 124370 777038462 Not A Section 32 Loan Conforming SERVICED 124424 777038466 Not A Section 32 Loan Conforming SERVICED 124432 777038500 Not A Section 32 Loan Conforming SERVICED 124318 777038502 Not A Section 32 Loan Non-Conforming SERVICED 124501 777038505 Not A Section 32 Loan Non-Conforming SERVICED 124507 777038526 Not A Section 32 Loan Conforming SERVICED 124585 777038540 Not A Section 32 Loan Conforming SERVICED 124893 777038542 Not A Section 32 Loan Conforming SERVICED 125079 777038543 Not A Section 32 Loan Conforming SERVICED 125081 777038557 Not A Section 32 Loan Conforming SERVICED 125105 777038558 Not A Section 32 Loan Conforming SERVICED 125107 777038564 Not A Section 32 Loan Conforming SERVICED 125119 777038589 Not A Section 32 Loan Conforming SERVICED 125162 777038592 Not A Section 32 Loan Conforming SERVICED 125206 777038599 Not A Section 32 Loan Conforming SERVICED 125228 777038604 Not A Section 32 Loan Conforming SERVICED 125238 777038610 Not A Section 32 Loan Conforming OWNED/SETTLED 125250 777038630 Not A Section 32 Loan Conforming SERVICED 125518 777038634 Not A Section 32 Loan Non-Conforming SERVICED 125524 777038637 Not A Section 32 Loan Conforming SERVICED 125530 777038644 Not A Section 32 Loan Conforming SERVICED 125544 777038649 Not A Section 32 Loan Conforming SERVICED 125552 777038659 Not A Section 32 Loan Conforming SERVICED 125569 777038676 Not A Section 32 Loan Non-Conforming SERVICED 125640 777038687 Not A Section 32 Loan Conforming SERVICED 125656 777038694 Not A Section 32 Loan Conforming SERVICED 125707 777038701 Not A Section 32 Loan Conforming SERVICED 126107 777038709 Not A Section 32 Loan Non-Conforming SERVICED 126948 777038710 Not A Section 32 Loan Conforming SERVICED 125820 777038728 Not A Section 32 Loan Conforming SERVICED 125904 777038729 Not A Section 32 Loan Non-Conforming SERVICED 125953 777038749 Not A Section 32 Loan Conforming SERVICED 126533 777038769 Not A Section 32 Loan Conforming SERVICED 126655 777038784 Not A Section 32 Loan Conforming SERVICED 126738 777038791 Not A Section 32 Loan Non-Conforming SERVICED 126750 777038804 Not A Section 32 Loan Conforming SERVICED 126785 777038805 Not A Section 32 Loan Conforming SERVICED 126936 777038814 Not A Section 32 Loan Conforming SERVICED 126827 777038821 Not A Section 32 Loan Conforming SERVICED 126831 777038825 Not A Section 32 Loan Conforming SERVICED 126837 777038831 Not A Section 32 Loan Conforming SERVICED 126856 777038834 Not A Section 32 Loan Conforming SERVICED 126861 777038842 Not A Section 32 Loan Conforming SERVICED 126938 777038852 Not A Section 32 Loan Conforming SERVICED 126887 777038855 Not A Section 32 Loan Conforming SERVICED 126893 777038877 Not A Section 32 Loan Conforming SERVICED 126974 777038882 Not A Section 32 Loan Conforming SERVICED 126970 777038891 Not A Section 32 Loan Conforming SERVICED 126982 777038919 Not A Section 32 Loan Conforming SERVICED 127028 777038933 Not A Section 32 Loan Non-Conforming SERVICED 127061 777038953 Not A Section 32 Loan Conforming SERVICED 127102 777038960 Not A Section 32 Loan Non-Conforming SERVICED 127133 777038962 Not A Section 32 Loan Conforming SERVICED 127139 777038965 Not A Section 32 Loan Conforming SERVICED 127145 777038966 Not A Section 32 Loan Conforming SERVICED 127149 777038967 Not A Section 32 Loan Non-Conforming SERVICED 127179 777038969 Not A Section 32 Loan Non-Conforming SERVICED 127141 777038979 Not A Section 32 Loan Non-Conforming SERVICED 127177 777038984 Not A Section 32 Loan Non-Conforming SERVICED 127189 777039004 Not A Section 32 Loan Non-Conforming SERVICED 127216 777039016 Not A Section 32 Loan Conforming SERVICED 127232 777039023 Not A Section 32 Loan Conforming SERVICED 127263 777039027 Not A Section 32 Loan Conforming SERVICED 127269 777039034 Not A Section 32 Loan Conforming SERVICED 127285 777039041 Not A Section 32 Loan Conforming SERVICED 127295 777039046 Not A Section 32 Loan Conforming SERVICED 127305 777039049 Not A Section 32 Loan Conforming SERVICED 127311 777039056 Not A Section 32 Loan Non-Conforming SERVICED 127325 777039060 Not A Section 32 Loan Conforming SERVICED 127333 777039066 Not A Section 32 Loan Conforming SERVICED 127345 777039068 Not A Section 32 Loan Conforming SERVICED 127349 777039069 Not A Section 32 Loan Conforming SERVICED 127351 777039099 Not A Section 32 Loan Conforming SERVICED 127411 777039112 Not A Section 32 Loan Conforming SERVICED 127435 777039119 Not A Section 32 Loan Conforming SERVICED 127451 777039123 Not A Section 32 Loan Conforming SERVICED 127459 777039124 Not A Section 32 Loan Conforming SERVICED 127469 777039125 Not A Section 32 Loan Conforming SERVICED 127461 777039143 Not A Section 32 Loan Non-Conforming SERVICED 127498 777039144 Not A Section 32 Loan Conforming SERVICED 127500 777039146 Not A Section 32 Loan Conforming SERVICED 127504 777039167 Not A Section 32 Loan Conforming SERVICED 127551 777039191 Not A Section 32 Loan Conforming SERVICED 127589 777039195 Not A Section 32 Loan Conforming OWNED/SETTLED 127603 777039197 Not A Section 32 Loan Conforming SERVICED 127607 777039205 Not A Section 32 Loan Non-Conforming SERVICED 127617 777039218 Not A Section 32 Loan Conforming SERVICED 127643 777039221 Not A Section 32 Loan Conforming SERVICED 127649 777039260 Not A Section 32 Loan Conforming SERVICED 127724 777039274 Not A Section 32 Loan Conforming SERVICED 127740 777039275 Not A Section 32 Loan Conforming SERVICED 127777 777039278 Not A Section 32 Loan Conforming SERVICED 127746 777039281 Not A Section 32 Loan Conforming SERVICED 127752 777039295 Not A Section 32 Loan Conforming SERVICED 127775 777039303 Not A Section 32 Loan Conforming SERVICED 127796 777039313 Not A Section 32 Loan Conforming SERVICED 127835 777039314 Not A Section 32 Loan Conforming SERVICED 127815 777039315 Not A Section 32 Loan Conforming SERVICED 127817 777039316 Not A Section 32 Loan Conforming SERVICED 127833 777039319 Not A Section 32 Loan Conforming SERVICED 127827 777039323 Not A Section 32 Loan Non-Conforming SERVICED 127839 777039329 Not A Section 32 Loan Non-Conforming SERVICED 127849 777039333 Not A Section 32 Loan Non-Conforming SERVICED 127853 777039336 Not A Section 32 Loan Conforming SERVICED 127861 777039338 Not A Section 32 Loan Conforming SERVICED 127865 777039339 Not A Section 32 Loan Non-Conforming SERVICED 127900 777039345 Not A Section 32 Loan Non-Conforming SERVICED 127876 777039349 Not A Section 32 Loan Conforming SERVICED 127884 777039359 Not A Section 32 Loan Conforming SERVICED 127921 777039364 Not A Section 32 Loan Conforming SERVICED 127911 777039366 Not A Section 32 Loan Conforming SERVICED 127948 777039371 Not A Section 32 Loan Conforming SERVICED 127923 777039388 Not A Section 32 Loan Conforming SERVICED 128008 777039395 Not A Section 32 Loan Conforming SERVICED 127978 777039396 Not A Section 32 Loan Conforming SERVICED 127976 777039410 Not A Section 32 Loan Conforming SERVICED 128006 777039419 Not A Section 32 Loan Conforming SERVICED 128028 777039420 Not A Section 32 Loan Conforming SERVICED 128026 777039426 Not A Section 32 Loan Conforming SERVICED 128040 777039430 Not A Section 32 Loan Conforming SERVICED 128048 777039434 Not A Section 32 Loan Conforming SERVICED 128057 777039439 Not A Section 32 Loan Conforming SERVICED 128067 777039446 Not A Section 32 Loan Non-Conforming SERVICED 128079 777039455 Not A Section 32 Loan Conforming SERVICED 128097 777039457 Not A Section 32 Loan Conforming SERVICED 128101 777039458 Not A Section 32 Loan Conforming SERVICED 128103 777039489 Not A Section 32 Loan Conforming SERVICED 128175 777039491 Not A Section 32 Loan Conforming SERVICED 128171 777039494 Not A Section 32 Loan Non-Conforming SERVICED 128196 777039503 Not A Section 32 Loan Conforming SERVICED 128192 777039521 Not A Section 32 Loan Conforming SERVICED 128231 777039524 Not A Section 32 Loan Conforming SERVICED 128237 777039536 Not A Section 32 Loan Conforming SERVICED 128261 777039542 Not A Section 32 Loan Conforming SERVICED 128271 777039547 Not A Section 32 Loan Conforming SERVICED 128287 777039550 Not A Section 32 Loan Conforming SERVICED 128293 777039551 Not A Section 32 Loan Conforming SERVICED 128295 777039552 Not A Section 32 Loan Conforming SERVICED 128297 777039553 Not A Section 32 Loan Conforming SERVICED 128299 777039562 Not A Section 32 Loan Non-Conforming SERVICED 128313 777039586 Not A Section 32 Loan Conforming SERVICED 128366 777039593 Not A Section 32 Loan Non-Conforming SERVICED 128380 777039604 Not A Section 32 Loan Conforming SERVICED 128395 777039607 Not A Section 32 Loan Non-Conforming SERVICED 128397 777039611 Not A Section 32 Loan Conforming SERVICED 128405 777039615 Not A Section 32 Loan Conforming SERVICED 128413 777039622 Not A Section 32 Loan Conforming SERVICED 128485 777039623 Not A Section 32 Loan Conforming SERVICED 128487 777039625 Not A Section 32 Loan Conforming SERVICED 128448 777039637 Not A Section 32 Loan Non-Conforming SERVICED 128471 777039646 Not A Section 32 Loan Non-Conforming SERVICED 128491 777039660 Not A Section 32 Loan Conforming SERVICED 128519 777039663 Not A Section 32 Loan Conforming SERVICED 128523 777039675 Not A Section 32 Loan Conforming SERVICED 128547 777039685 Not A Section 32 Loan Non-Conforming SERVICED 128565 777039699 Not A Section 32 Loan Conforming SERVICED 128592 777039703 Not A Section 32 Loan Conforming SERVICED 128600 777039704 Not A Section 32 Loan Conforming SERVICED 128602 777039714 Not A Section 32 Loan Conforming SERVICED 128616 777039718 Not A Section 32 Loan Non-Conforming OWNED/SETTLED 128624 777039720 Not A Section 32 Loan Conforming SERVICED 128630 777039763 Not A Section 32 Loan Conforming SERVICED 128711 777039769 Not A Section 32 Loan Conforming SERVICED 128777 777039770 Not A Section 32 Loan Conforming SERVICED 128781 777039775 Not A Section 32 Loan Conforming SERVICED 128775 777039780 Not A Section 32 Loan Conforming SERVICED 128795 777039782 Not A Section 32 Loan Non-Conforming SERVICED 128806 777039784 Not A Section 32 Loan Non-Conforming SERVICED 128811 777039790 Not A Section 32 Loan Conforming SERVICED 128825 777039803 Not A Section 32 Loan Conforming SERVICED 128911 777039805 Not A Section 32 Loan Conforming OWNED/SETTLED 128873 777039823 Not A Section 32 Loan Non-Conforming SERVICED 115505 777039833 Not A Section 32 Loan Conforming SERVICED 128925 777039838 Not A Section 32 Loan Conforming SERVICED 128936 777039851 Not A Section 32 Loan Conforming SERVICED 128967 777039859 Not A Section 32 Loan Conforming SERVICED 128983 777039861 Not A Section 32 Loan Conforming SERVICED 128987 777039862 Not A Section 32 Loan Conforming SERVICED 128989 777039865 Not A Section 32 Loan Conforming SERVICED 128998 777039869 Not A Section 32 Loan Conforming SERVICED 129003 777039873 Not A Section 32 Loan Non-Conforming SERVICED 129011 777039875 Not A Section 32 Loan Conforming SERVICED 129014 777039881 Not A Section 32 Loan Conforming SERVICED 129027 777039882 Not A Section 32 Loan Conforming SERVICED 129029 777039883 Not A Section 32 Loan Conforming SERVICED 129031 777039889 Not A Section 32 Loan Non-Conforming SERVICED 129041 777039896 Not A Section 32 Loan Conforming SERVICED 129053 777039898 Not A Section 32 Loan Conforming SERVICED 129063 777039899 Not A Section 32 Loan Conforming SERVICED 129061 777039907 Not A Section 32 Loan Conforming SERVICED 129097 777039919 Not A Section 32 Loan Conforming SERVICED 129117 777039925 Not A Section 32 Loan Conforming SERVICED 129189 777039927 Not A Section 32 Loan Conforming SERVICED 129141 777039932 Not A Section 32 Loan Conforming SERVICED 129147 777039944 Not A Section 32 Loan Conforming SERVICED 129169 777039952 Not A Section 32 Loan Conforming SERVICED 129185 777039956 Not A Section 32 Loan Conforming SERVICED 129197 777039969 Not A Section 32 Loan Conforming SERVICED 129230 777039986 Not A Section 32 Loan Non-Conforming SERVICED 129262 777039995 Not A Section 32 Loan Non-Conforming SERVICED 129278 777040009 Not A Section 32 Loan Conforming SERVICED 129300 777040010 Not A Section 32 Loan Conforming SERVICED 129302 777040011 Not A Section 32 Loan Conforming SERVICED 129304 777040024 Not A Section 32 Loan Conforming OWNED/SETTLED 129330 777040028 Not A Section 32 Loan Conforming SERVICED 129332 777040033 Not A Section 32 Loan Non-Conforming SERVICED 129342 777040037 Not A Section 32 Loan Conforming SERVICED 129350 777040044 Not A Section 32 Loan Conforming SERVICED 129384 777040046 Not A Section 32 Loan Non-Conforming SERVICED 129380 777040047 Not A Section 32 Loan Conforming SERVICED 129368 777040051 Not A Section 32 Loan Conforming SERVICED 129374 777040054 Not A Section 32 Loan Conforming SERVICED 129393 777040059 Not A Section 32 Loan Conforming SERVICED 129401 777040073 Not A Section 32 Loan Conforming SERVICED 129428 777040074 Not A Section 32 Loan Conforming SERVICED 129430 777040082 Not A Section 32 Loan Conforming SERVICED 129448 777040083 Not A Section 32 Loan Conforming SERVICED 129454 777040090 Not A Section 32 Loan Conforming SERVICED 129464 777040092 Not A Section 32 Loan Non-Conforming SERVICED 129468 777040097 Not A Section 32 Loan Conforming SERVICED 129478 777040102 Not A Section 32 Loan Conforming SERVICED 129488 777040103 Not A Section 32 Loan Conforming SERVICED 129490 777040105 Not A Section 32 Loan Non-Conforming SERVICED 129496 777040118 Not A Section 32 Loan Non-Conforming SERVICED 129516 777040123 Not A Section 32 Loan Conforming SERVICED 129526 777040126 Not A Section 32 Loan Conforming SERVICED 129532 777040133 Not A Section 32 Loan Conforming SERVICED 129582 777040135 Not A Section 32 Loan Non-Conforming SERVICED 129586 777040137 Not A Section 32 Loan Conforming SERVICED 129580 777040138 Not A Section 32 Loan Conforming SERVICED 129555 777040139 Not A Section 32 Loan Conforming SERVICED 129584 777040145 Not A Section 32 Loan Conforming SERVICED 129588 777040146 Not A Section 32 Loan Conforming SERVICED 129590 777040147 Not A Section 32 Loan Conforming SERVICED 129592 777040152 Not A Section 32 Loan Non-Conforming SERVICED 129742 777040158 Not A Section 32 Loan Conforming SERVICED 129661 777040161 Not A Section 32 Loan Conforming SERVICED 129669 777040169 Not A Section 32 Loan Conforming SERVICED 129687 777040174 Not A Section 32 Loan Conforming SERVICED 129698 777040178 Not A Section 32 Loan Conforming SERVICED 129708 777040191 Not A Section 32 Loan Conforming SERVICED 129730 777040196 Not A Section 32 Loan Conforming SERVICED 129744 777040200 Not A Section 32 Loan Non-Conforming SERVICED 129752 777040201 Not A Section 32 Loan Conforming SERVICED 129754 777040202 Not A Section 32 Loan Conforming SERVICED 129760 777040205 Not A Section 32 Loan Conforming SERVICED 129766 777040222 Not A Section 32 Loan Conforming SERVICED 131396 777040229 Not A Section 32 Loan Conforming SERVICED 131433 777040240 Not A Section 32 Loan Conforming SERVICED 131491 777040241 Not A Section 32 Loan Non-Conforming SERVICED 131493 777040261 Not A Section 32 Loan Conforming SERVICED 131535 777040269 Not A Section 32 Loan Conforming SERVICED 131545 777040278 Not A Section 32 Loan Conforming SERVICED 131568 777040297 Not A Section 32 Loan Conforming SERVICED 131592 777040299 Not A Section 32 Loan Conforming SERVICED 131613 777040352 Not A Section 32 Loan Conforming SERVICED 131693 777040354 Not A Section 32 Loan Conforming SERVICED 131697 777040356 Not A Section 32 Loan Conforming SERVICED 131701 777040357 Not A Section 32 Loan Non-Conforming SERVICED 131703 777040365 Not A Section 32 Loan Non-Conforming SERVICED 131731 777040370 Not A Section 32 Loan Conforming SERVICED 131741 777040394 Not A Section 32 Loan Non-Conforming SERVICED 131783 777040398 Not A Section 32 Loan Conforming SERVICED 131791 777040399 Not A Section 32 Loan Conforming SERVICED 131795 777040406 Not A Section 32 Loan Non-Conforming SERVICED 131847 777040407 Not A Section 32 Loan Non-Conforming SERVICED 131849 777040413 Not A Section 32 Loan Conforming SERVICED 131815 777040429 Not A Section 32 Loan Conforming SERVICED 131887 777040430 Not A Section 32 Loan Conforming SERVICED 131889 777040434 Not A Section 32 Loan Conforming SERVICED 131897 777040443 Not A Section 32 Loan Conforming SERVICED 131987 777040448 Not A Section 32 Loan Conforming SERVICED 131921 777040449 Not A Section 32 Loan Non-Conforming SERVICED 131923 777040478 Not A Section 32 Loan Conforming SERVICED 123426 777040482 Not A Section 32 Loan Conforming SERVICED 131979 777040484 Not A Section 32 Loan Conforming SERVICED 131964 777040485 Not A Section 32 Loan Conforming SERVICED 131966 777040487 Not A Section 32 Loan Conforming SERVICED 131970 777040551 Not A Section 32 Loan Conforming SERVICED 133645 777040554 Not A Section 32 Loan Non-Conforming SERVICED 133649 777040557 Not A Section 32 Loan Conforming OWNED/SETTLED 133655 777040577 Not A Section 32 Loan Conforming SERVICED 133699 777040578 Not A Section 32 Loan Non-Conforming SERVICED 133701 777040593 Not A Section 32 Loan Conforming SERVICED 133730 777040596 Not A Section 32 Loan Conforming SERVICED 133736 777040603 Not A Section 32 Loan Conforming SERVICED 133750 777040635 Not A Section 32 Loan Non-Conforming SERVICED 133836 777040639 Not A Section 32 Loan Non-Conforming SERVICED 133842 777040643 Not A Section 32 Loan Conforming SERVICED 133850 777040649 Not A Section 32 Loan Conforming SERVICED 133863 777040658 Not A Section 32 Loan Conforming SERVICED 133981 777040662 Not A Section 32 Loan Conforming SERVICED 134192 777040663 Not A Section 32 Loan Conforming SERVICED 134188 777040671 Not A Section 32 Loan Non-Conforming OWNED/SETTLED 123425 777040676 Not A Section 32 Loan Conforming SERVICED 134217 777040677 Not A Section 32 Loan Conforming SERVICED 134219 777040693 Not A Section 32 Loan Non-Conforming SERVICED 134242 777040694 Not A Section 32 Loan Non-Conforming SERVICED 134245 777040705 Not A Section 32 Loan Non-Conforming SERVICED 134267 777040708 Not A Section 32 Loan Conforming SERVICED 134562 777040723 Not A Section 32 Loan Conforming SERVICED 134789 777040752 Not A Section 32 Loan Conforming SERVICED 134843 777040753 Not A Section 32 Loan Conforming SERVICED 134845 777040761 Not A Section 32 Loan Non-Conforming SERVICED 134886 777040767 Not A Section 32 Loan Conforming SERVICED 134954 777040776 Not A Section 32 Loan Conforming SERVICED 135002 777040779 Not A Section 32 Loan Conforming SERVICED 135023 777040790 Not A Section 32 Loan Conforming OWNED/SETTLED 131425 777040819 Not A Section 32 Loan Conforming OWNED/SETTLED 124317 777040820 Not A Section 32 Loan Conforming OWNED/SETTLED 124317 777040843 Not A Section 32 Loan Conforming OWNED/SETTLED 124317 777040918 Not A Section 32 Loan Conforming OWNED/SETTLED 131422 777041008 Not A Section 32 Loan Non-Conforming OWNED/SETTLED 135827 UBS Loan ID CURRPORT Cut off Settle Date BComfirm Date Act Paid to Date -------------------------------------------------------------------------------------------------------------------------- 334405839 102944 8/1/2007 10/11/2006 10/31/2006 8/1/2007 334532900 135967 8/1/2007 12/7/2006 12/7/2006 8/1/2007 334532908 119306 8/1/2007 12/7/2006 12/7/2006 8/1/2007 334532949 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yr ARMs 777040024 0 0 0 0 20/30 yr Fixed 777040028 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040033 0 0 0 0 XXXXXXCCXXXX 5 yr ARMs 777040037 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040044 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040046 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040047 0 0 0 0 XXXXXXXCXXXX 40 yr Fixed 777040051 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040054 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040059 0 0 0 0 XXXXXXCCXXXX 5 yr ARMs 777040073 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040074 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040082 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040083 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040090 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040092 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040097 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040102 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040103 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040105 0 0 0 0 XXXXXXCCXXXX 7 yr ARMs 777040118 0 0 0 0 XXXXXXCCXXXX 5 yr ARMs 777040123 0 0 0 0 XXXXXXCCXXXX 5 yr ARMs 777040126 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040133 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040135 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040137 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040138 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040139 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040145 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040146 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040147 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040152 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040158 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040161 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040169 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040174 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040178 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040191 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040196 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040200 0 0 0 0 XXXXXXXCXXXX 7 yr ARMs 777040201 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040202 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040205 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040222 0 0 0 0 XXXXXXCCXXXX 20/30 yr Fixed 777040229 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040240 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040241 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040261 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040269 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040278 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040297 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040299 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040352 0 0 0 0 XXXXXXXCXXXX 7 yr ARMs 777040354 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040356 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040357 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040365 0 0 0 0 XXXXXXCCXXXX 5 yr ARMs 777040370 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040394 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040398 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040399 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040406 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040407 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040413 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040429 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040430 0 0 0 0 XXXXXXXCXXXX 7 yr ARMs 777040434 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040443 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040448 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040449 0 0 0 0 XXXXXXXCXXXX 7 yr ARMs 777040478 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040482 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040484 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040485 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040487 0 0 0 0 XXXXXXXCXXXX 2/3 yr ARMs 777040551 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040554 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040557 0 0 0 0 XXXXXXXXXXXX 20/30 yr Fixed 777040577 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040578 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040593 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040596 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040603 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040635 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040639 0 0 0 0 XXXXXXXCXXXX 7 yr ARMs 777040643 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040649 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040658 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040662 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040663 0 0 0 0 XXXXXXXCXXXX 40 yr Fixed 777040671 0 0 0 0 5 yr ARMs 777040676 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040677 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040693 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040694 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040705 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040708 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040723 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040752 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040753 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040761 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040767 0 0 0 0 XXXXXXXCXXXX 20/30 yr Fixed 777040776 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040779 0 0 0 0 XXXXXXXCXXXX 5 yr ARMs 777040790 0 0 0 0 2/3 yr ARMs 777040819 0 0 0 0 5 yr ARMs 777040820 0 0 0 0 5 yr ARMs 777040843 0 0 0 0 5 yr ARMs 777040918 0 0 0 0 5 yr ARMs 777041008 0 0 0 0 XXXXXXXXXXXX 20/30 yr Fixed UBS Loan ID Hard-Soft Prepay ------------------------------------------- 334405839 No Prepay 334532900 No Prepay 334532908 No Prepay 334532949 24 - UNKNOWN 334655990 12 - HARD 334659518 36 - HARD 334659541 12 - HARD 334688853 36 - BOTH 334720548 No Prepay 334720549 No Prepay 334738020 24 - HARD 334738165 24 - HARD 334740598 24 - UNKNOWN 334740620 No Prepay 334756494 36 - UNKNOWN 334756551 36 - UNKNOWN 334921808 36 - UNKNOWN 335664299 No Prepay 335664300 No Prepay 335664305 No Prepay 335664316 No Prepay 335664354 No Prepay 335664362 No Prepay 335664376 No Prepay 335664377 No Prepay 335664379 No Prepay 335664387 No Prepay 335664390 No Prepay 335664393 No Prepay 335736334 No Prepay 335736335 No Prepay 335736339 No Prepay 335736340 No Prepay 335736342 No Prepay 335736344 No Prepay 335736361 No Prepay 335751199 No Prepay 335751203 No Prepay 335751204 No Prepay 335751227 No Prepay 335847961 No Prepay 335847965 36 - UNKNOWN 335847968 No Prepay 777005164 No Prepay 777008436 No Prepay 777008553 24 - SOFT 777008555 60 - SOFT 777008649 24 - UNKNOWN 777010295 No Prepay 777010304 No Prepay 777010306 No Prepay 777010315 No Prepay 777011692 No Prepay 777017938 No Prepay 777018098 No Prepay 777018345 60 - SOFT 777019969 No Prepay 777022040 No Prepay 777022104 No Prepay 777022731 No Prepay 777022867 60 - SOFT 777022899 No Prepay 777023524 No Prepay 777024142 No Prepay 777024145 No Prepay 777024357 60 - SOFT 777024375 No Prepay 777024623 No Prepay 777024877 No Prepay 777024948 No Prepay 777025030 No Prepay 777025382 No Prepay 777025988 No Prepay 777026173 No Prepay 777026199 No Prepay 777026269 No Prepay 777026273 No Prepay 777026468 No Prepay 777026595 No Prepay 777026750 No Prepay 777026765 No Prepay 777027150 No Prepay 777027202 No Prepay 777027266 No Prepay 777027293 No Prepay 777027474 60 - HARD 777027538 No Prepay 777027649 No Prepay 777027783 60 - HARD 777028136 No Prepay 777028237 No Prepay 777028498 36 - HARD 777028656 36 - HARD 777028666 60 - SOFT 777028816 No Prepay 777028834 36 - BOTH 777028888 No Prepay 777028924 No Prepay 777028942 No Prepay 777028979 No Prepay 777028989 60 - HARD 777029007 No Prepay 777029082 No Prepay 777029110 No Prepay 777029183 No Prepay 777029204 6 - HARD 777029210 36 - HARD 777029320 No Prepay 777029383 36 - BOTH 777029420 36 - HARD 777029431 No Prepay 777029449 No Prepay 777029455 36 - HARD 777029589 36 - HARD 777029659 No Prepay 777029734 36 - HARD 777029774 No Prepay 777029776 No Prepay 777029777 No Prepay 777029799 36 - H 777029815 No Prepay 777029931 No Prepay 777029950 No Prepay 777029979 No Prepay 777029981 No Prepay 777030042 No Prepay 777030211 No Prepay 777030263 No Prepay 777030286 No Prepay 777030296 12 - HARD 777030324 12 - HARD 777030335 36 - HARD 777030414 No Prepay 777030515 No Prepay 777030637 No Prepay 777030643 12 - H 777030846 No Prepay 777030944 12 - HARD 777031066 No Prepay 777031118 No Prepay 777031127 60 - BOTH 777031148 No Prepay 777031374 36 - SOFT 777031379 12 - HARD 777031569 6 - HARD 777031602 No Prepay 777031677 No Prepay 777031683 60 - SOFT 777031704 No Prepay 777031705 No Prepay 777031766 12 - HARD 777031783 No Prepay 777031836 36 - BOTH 777031906 No Prepay 777031978 No Prepay 777032001 36 - HARD 777032047 No Prepay 777032061 No Prepay 777032109 No Prepay 777032158 No Prepay 777032182 36 - HARD 777032185 36 - HARD 777032311 No Prepay 777032372 No Prepay 777032373 No Prepay 777032448 No Prepay 777032451 No Prepay 777032459 No Prepay 777032614 No Prepay 777032632 36 - BOTH 777032637 12 - HARD 777032699 36 - BOTH 777032712 36 - SOFT 777032734 36 - BOTH 777032756 36 - SOFT 777032767 No Prepay 777032790 12 - HARD 777032859 No Prepay 777032875 36 - HARD 777032886 No Prepay 777032887 No Prepay 777032914 36 - HARD 777032945 No Prepay 777033051 36 - BOTH 777033075 No Prepay 777033293 36 - HARD 777033294 No Prepay 777033302 36 - S 777033303 No Prepay 777033312 No Prepay 777033353 No Prepay 777033357 No Prepay 777033367 No Prepay 777033463 36 - BOTH 777033513 36 - BOTH 777033559 No Prepay 777033569 36 - HARD 777033613 No Prepay 777033633 No Prepay 777033634 No Prepay 777033661 No Prepay 777033665 36 - SOFT 777033688 No Prepay 777033703 No Prepay 777033797 No Prepay 777033923 12 - HARD 777033927 12 - HARD 777033998 36 - BOTH 777034066 36 - BOTH 777034134 No Prepay 777034137 No Prepay 777034177 No Prepay 777034246 36 - BOTH 777034318 No Prepay 777034336 No Prepay 777034338 No Prepay 777034365 36 - BOTH 777034371 No Prepay 777034378 No Prepay 777034387 No Prepay 777034427 No Prepay 777034429 12 - HARD 777034739 No Prepay 777034983 36 - BOTH 777035007 36 - BOTH 777035170 No Prepay 777035245 36 - BOTH 777035278 12 - HARD 777035300 24 - SOFT 777035335 36 - BOTH 777035428 24 - HARD 777035496 36 - HARD 777035617 24 - BOTH 777035624 No Prepay 777035710 No Prepay 777035723 36 - BOTH 777035760 No Prepay 777035762 No Prepay 777035786 No Prepay 777035933 36 - BOTH 777035949 No Prepay 777035988 36 - BOTH 777035997 36 - HARD 777035998 12 - HARD 777036128 No Prepay 777036313 12 - HARD 777036315 12 - H 777036329 No Prepay 777036349 No Prepay 777036369 36 - BOTH 777036443 36 - BOTH 777036459 12 - HARD 777036524 36 - BOTH 777036527 36 - HARD 777036579 No Prepay 777036689 No Prepay 777036692 12 - H 777036817 36 - BOTH 777036834 36 - SOFT 777036845 36 - HARD 777036887 12 - HARD 777036906 36 - HARD 777036959 No Prepay 777036960 No Prepay 777036981 36 - HARD 777037017 No Prepay 777037023 36 - HARD 777037059 12 - HARD 777037063 No Prepay 777037087 36 - HARD 777037098 36 - HARD 777037153 12 - HARD 777037155 12 - HARD 777037186 No Prepay 777037187 No Prepay 777037209 36 - HARD 777037225 No Prepay 777037237 36 - HARD 777037276 No Prepay 777037277 No Prepay 777037278 No Prepay 777037283 No Prepay 777037299 36 - BOTH 777037303 36 - SOFT 777037383 36 - HARD 777037389 36 - HARD 777037399 No Prepay 777037433 36 - HARD 777037445 No Prepay 777037471 24 - SOFT 777037473 No Prepay 777037563 36 - SOFT 777037566 No Prepay 777037583 36 - BOTH 777037636 No Prepay 777037637 No Prepay 777037640 No Prepay 777037643 No Prepay 777037665 00 - X 000000000 00 - XXXX 777037677 No Prepay 777037717 No Prepay 777037727 36 - BOTH 777037770 No Prepay 777037795 36 - HARD 777037811 No Prepay 777037814 No Prepay 777037840 No Prepay 777037846 36 - BOTH 777037864 36 - BOTH 777037866 36 - BOTH 777037875 No Prepay 777037891 No Prepay 777037895 No Prepay 777037929 No Prepay 777037940 12 - HARD 777037945 36 - BOTH 777037954 No Prepay 777037986 No Prepay 777037991 No Prepay 777038024 No Prepay 777038029 No Prepay 777038040 No Prepay 777038041 36 - HARD 777038055 12 - HARD 777038064 36 - SOFT 777038075 No Prepay 777038079 36 - HARD 777038091 No Prepay 777038103 No Prepay 777038107 No Prepay 777038143 12 - HARD 777038147 36 - BOTH 777038162 No Prepay 777038175 36 - BOTH 777038181 No Prepay 777038182 No Prepay 777038185 36 - BOTH 777038191 12 - HARD 777038198 No Prepay 777038199 No Prepay 777038204 12 - HARD 777038206 12 - HARD 777038227 No Prepay 777038229 No Prepay 777038235 No Prepay 777038239 36 - HARD 777038255 No Prepay 777038256 12 - HARD 777038264 12 - HARD 777038270 36 - BOTH 777038289 36 - BOTH 777038312 No Prepay 777038331 No Prepay 777038332 12 - HARD 777038335 36 - HARD 777038349 12 - HARD 777038359 36 - HARD 777038362 36 - BOTH 777038363 36 - HARD 777038367 12 - HARD 777038375 No Prepay 777038377 36 - HARD 777038378 36 - BOTH 777038382 12 - HARD 777038383 12 - HARD 777038401 No Prepay 777038417 36 - HARD 777038420 No Prepay 777038423 36 - BOTH 777038425 36 - BOTH 777038435 No Prepay 777038462 No Prepay 777038466 12 - HARD 777038500 12 - HARD 777038502 12 - HARD 777038505 36 - HARD 777038526 36 - HARD 777038540 No Prepay 777038542 No Prepay 777038543 No Prepay 777038557 No Prepay 777038558 No Prepay 777038564 36 - BOTH 777038589 36 - HARD 777038592 36 - BOTH 777038599 36 - BOTH 777038604 36 - BOTH 777038610 No Prepay 777038630 12 - HARD 777038634 No Prepay 777038637 36 - BOTH 777038644 36 - BOTH 777038649 36 - HARD 777038659 No Prepay 777038676 36 - BOTH 777038687 36 - BOTH 777038694 12 - HARD 777038701 No Prepay 777038709 36 - HARD 777038710 No Prepay 777038728 12 - HARD 777038729 No Prepay 777038749 No Prepay 777038769 12 - HARD 777038784 No Prepay 777038791 12 - HARD 777038804 No Prepay 777038805 No Prepay 777038814 36 - HARD 777038821 36 - HARD 777038825 No Prepay 777038831 12 - HARD 777038834 36 - BOTH 777038842 12 - HARD 777038852 36 - BOTH 777038855 36 - BOTH 777038877 No Prepay 777038882 No Prepay 777038891 36 - HARD 777038919 No Prepay 777038933 36 - HARD 777038953 No Prepay 777038960 No Prepay 777038962 36 - HARD 777038965 No Prepay 777038966 36 - HARD 777038967 No Prepay 777038969 12 - HARD 777038979 36 - HARD 777038984 No Prepay 777039004 No Prepay 777039016 No Prepay 777039023 36 - BOTH 777039027 36 - BOTH 777039034 No Prepay 777039041 12 - HARD 777039046 36 - BOTH 777039049 No Prepay 777039056 12 - HARD 777039060 No Prepay 777039066 No Prepay 777039068 No Prepay 777039069 No Prepay 777039099 36 - BOTH 777039112 36 - HARD 777039119 No Prepay 777039123 12 - HARD 777039124 36 - BOTH 777039125 No Prepay 777039143 12 - HARD 777039144 12 - HARD 777039146 No Prepay 777039167 36 - HARD 777039191 36 - HARD 777039195 No Prepay 777039197 36 - HARD 777039205 36 - SOFT 777039218 36 - BOTH 777039221 36 - HARD 777039260 36 - BOTH 777039274 No Prepay 777039275 No Prepay 777039278 No Prepay 777039281 No Prepay 777039295 No Prepay 777039303 No Prepay 777039313 No Prepay 777039314 No Prepay 777039315 36 - BOTH 777039316 36 - BOTH 777039319 No Prepay 777039323 No Prepay 777039329 12 - HARD 777039333 No Prepay 777039336 36 - BOTH 777039338 36 - BOTH 777039339 12 - HARD 777039345 36 - HARD 777039349 12 - HARD 777039359 No Prepay 777039364 12 - HARD 777039366 36 - BOTH 777039371 No Prepay 777039388 12 - HARD 777039395 36 - BOTH 777039396 12 - HARD 777039410 36 - BOTH 777039419 12 - HARD 777039420 36 - BOTH 777039426 36 - BOTH 777039430 No Prepay 777039434 No Prepay 777039439 12 - HARD 777039446 12 - HARD 777039455 No Prepay 777039457 36 - HARD 777039458 36 - HARD 777039489 No Prepay 777039491 No Prepay 777039494 36 - BOTH 777039503 No Prepay 777039521 36 - BOTH 777039524 36 - BOTH 777039536 36 - HARD 777039542 36 - BOTH 777039547 No Prepay 777039550 12 - HARD 777039551 No Prepay 777039552 36 - BOTH 777039553 36 - BOTH 777039562 No Prepay 777039586 36 - HARD 777039593 No Prepay 777039604 No Prepay 777039607 12 - HARD 777039611 No Prepay 777039615 No Prepay 777039622 12 - HARD 777039623 No Prepay 777039625 36 - HARD 777039637 36 - SOFT 777039646 36 - HARD 777039660 36 - HARD 777039663 36 - BOTH 777039675 No Prepay 777039685 12 - HARD 777039699 36 - HARD 777039703 No Prepay 777039704 No Prepay 777039714 36 - HARD 777039718 No Prepay 777039720 36 - B 777039763 12 - HARD 777039769 No Prepay 777039770 36 - BOTH 777039775 36 - SOFT 777039780 36 - BOTH 777039782 12 - HARD 777039784 No Prepay 777039790 36 - HARD 777039803 No Prepay 777039805 No Prepay 777039823 12 - HARD 777039833 36 - B 777039838 No Prepay 777039851 36 - HARD 777039859 12 - HARD 777039861 36 - BOTH 777039862 36 - BOTH 777039865 36 - B 777039869 36 - SOFT 777039873 No Prepay 777039875 No Prepay 777039881 No Prepay 777039882 36 - BOTH 777039883 12 - HARD 777039889 No Prepay 777039896 36 - HARD 777039898 No Prepay 777039899 No Prepay 777039907 No Prepay 777039919 36 - BOTH 777039925 36 - BOTH 777039927 No Prepay 777039932 No Prepay 777039944 36 - BOTH 777039952 No Prepay 777039956 No Prepay 777039969 12 - HARD 777039986 12 - HARD 777039995 No Prepay 777040009 12 - HARD 777040010 36 - HARD 777040011 36 - HARD 777040024 No Prepay 777040028 36 - HARD 777040033 36 - BOTH 777040037 36 - HARD 777040044 12 - HARD 777040046 12 - HARD 777040047 No Prepay 777040051 36 - BOTH 777040054 No Prepay 777040059 36 - HARD 777040073 36 - HARD 777040074 36 - BOTH 777040082 No Prepay 777040083 No Prepay 777040090 No Prepay 777040092 12 - HARD 777040097 No Prepay 777040102 12 - HARD 777040103 No Prepay 777040105 36 - BOTH 777040118 36 - SOFT 777040123 36 - HARD 777040126 No Prepay 777040133 36 - HARD 777040135 36 - B 777040137 36 - HARD 777040138 36 - BOTH 777040139 12 - HARD 777040145 36 - H 777040146 12 - HARD 777040147 36 - BOTH 777040152 No Prepay 777040158 36 - HARD 777040161 No Prepay 777040169 No Prepay 777040174 No Prepay 777040178 36 - BOTH 777040191 36 - HARD 777040196 12 - HARD 777040200 36 - BOTH 777040201 12 - HARD 777040202 12 - HARD 777040205 No Prepay 777040222 No Prepay 777040229 36 - HARD 777040240 12 - HARD 777040241 12 - HARD 777040261 No Prepay 777040269 No Prepay 777040278 36 - HARD 777040297 No Prepay 777040299 24 - HARD 777040352 No Prepay 777040354 36 - BOTH 777040356 36 - HARD 777040357 12 - HARD 777040365 No Prepay 777040370 12 - HARD 777040394 12 - HARD 777040398 12 - HARD 777040399 36 - BOTH 777040406 No Prepay 777040407 No Prepay 777040413 36 - BOTH 777040429 12 - HARD 777040430 12 - HARD 777040434 36 - SOFT 777040443 No Prepay 777040448 12 - H 777040449 12 - HARD 777040478 12 - HARD 777040482 12 - HARD 777040484 36 - BOTH 777040485 No Prepay 777040487 36 - HARD 777040551 No Prepay 777040554 12 - HARD 777040557 36 - B 777040577 12 - H 777040578 36 - HARD 777040593 36 - HARD 777040596 36 - BOTH 777040603 36 - BOTH 777040635 36 - BOTH 777040639 36 - HARD 777040643 36 - HARD 777040649 36 - HARD 777040658 No Prepay 777040662 12 - HARD 777040663 12 - HARD 777040671 36 - H 777040676 12 - HARD 777040677 No Prepay 777040693 36 - HARD 777040694 No Prepay 777040705 No Prepay 777040708 No Prepay 777040723 No Prepay 777040752 36 - HARD 777040753 36 - HARD 777040761 12 - H 777040767 No Prepay 777040776 12 - H 777040779 12 - H 777040790 12 - H 777040819 12 - H 777040820 12 - H 777040843 12 - H 777040918 12 - H 777041008 No Prepay
SCHEDULE II
Mortgage
Pass-Through Certificates
Series 2007-HF1
Representations
and Warranties as to the Mortgage Loans
UBS
Real
Estate Securities Inc. (the “Transferor”) hereby makes with respect to
those Mortgage Loans sold by it to the Depositor pursuant to the Mortgage Loan
Purchase Agreement, the following representations and warranties.
(i) The
information set forth in the Mortgage Loan Schedule was true and correct in
all
material respects at the date or dates respecting which such information is
furnished as specified in the Mortgage Loan Schedule;
(ii) Immediately
prior to the transfer and assignment contemplated herein, the Transferor was
the
sole owner and holder of the Mortgage Loan free and clear of any and all liens,
pledges, charges or security interests of any nature and has full right and
authority to sell and assign the same;
(iii) The
Mortgage is a valid, subsisting and enforceable first lien on the property
therein described, and the Mortgaged Property is free and clear of all
encumbrances and liens having priority over the first lien of the Mortgage
except for liens for real estate taxes and special assessments not yet due
and
payable and liens or interests arising under or as a result of any federal,
state or local law, regulation or ordinance relating to hazardous wastes or
hazardous substances, and, if the related Mortgaged Property is a condominium
unit, any lien for common charges permitted by statute or homeowners association
fees; and if the Mortgaged Property consists of shares of a cooperative housing
corporation, any lien for amounts due to the cooperative housing corporation
for
unpaid assessments or charges or any lien of any assignment of rents or
maintenance expenses secured by the real property owned by the cooperative
housing corporation; and any security agreement, chattel mortgage or equivalent
document related to, and delivered to the Trustee or to the Master Servicer
with, any Mortgage establishes in the Transferor a valid and subsisting first
lien on the property described therein and the Transferor has full right to
sell
and assign the same to the Trustee;
(iv) Neither
the Transferor nor any prior holder of the Mortgage or the related Mortgage
Note
has modified the Mortgage or the related Mortgage Note in any material respect,
satisfied, canceled or subordinated the Mortgage in whole or in part, released
the Mortgaged Property in whole or in part from the lien of the Mortgage, or
executed any instrument of release, cancellation, modification or satisfaction,
except in each case as is reflected in an agreement delivered to the Trustee
or
the Master Servicer pursuant to Section 2.01;
(v) All
taxes, governmental assessments, insurance premiums, and water, sewer and
municipal charges, which previously became due and owing have been paid, or
an
escrow of funds has been established, to the extent permitted by law, in an
amount sufficient to pay for every such item that remains unpaid; and the
Transferor has not advanced funds, or received any advance of funds by a party
other than the Mortgagor, directly or indirectly for the payment of any amount
required by the Mortgage, except for interest accruing from the date of the
Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever
is later, to the day which precedes by thirty days the first Due Date under
the related Mortgage Note;
(vi) The
Mortgaged Property is undamaged by water, fire, earthquake or other earth
movement, windstorm, flood, tornado or similar casualty (excluding casualty
from
the presence of hazardous wastes or hazardous substances, as to which the
Transferor makes no representations), so as to affect adversely the value of
the
Mortgaged Property as security for the Mortgage Loan or the use for which the
premises were intended and to the best of the Transferor’s knowledge, there is
no proceeding pending or threatened for the total or partial condemnation of
the
Mortgaged Property;
(vii) The
Mortgaged Property is free and clear of all mechanics’ and materialmen’s liens
or liens in the nature thereof; provided, however, that this
warranty shall be deemed not to have been made at the time of the initial
issuance of the Certificates if a title policy affording, in substance, the
same
protection afforded by this warranty is furnished to the Trustee by the
Transferor;
(viii) Except
for Mortgage Loans secured by co op shares and Mortgage Loans secured by
residential long term leases, the Mortgaged Property consists of a fee simple
estate in real property; all of the improvements which are included for the
purpose of determining the appraised value of the Mortgaged Property lie wholly
within the boundaries and building restriction lines of such property and no
improvements on adjoining properties encroach upon the Mortgaged Property
(unless insured against under the related title insurance policy); and to the
best of the Transferor’s knowledge, the Mortgaged Property and all improvements
thereon comply with all requirements of any applicable zoning and subdivision
laws and ordinances;
(ix) The
Mortgage Loan meets, or is exempt from, applicable state or federal laws,
regulations and other requirements, pertaining to usury, and the Mortgage Loan
is not usurious;
(x) To
the
best of the Transferor’s knowledge, all inspections, licenses and certificates
required to be made or issued with respect to all occupied portions of the
Mortgaged Property and, with respect to the use and occupancy of the same,
including, but not limited to, certificates of occupancy and fire underwriting
certificates, have been made or obtained from the appropriate
authorities;
(xi) Payments
required to be made up to but not including the Due Date immediately preceding
the Cut-Off Date for such Mortgage Loan under the terms of the related Mortgage
Note have been made, and no payment under any Mortgage Loan has been
30 days delinquent more than one time prior to the Closing
Date;
(xii) The
Mortgage Note, the related Mortgage and other agreements executed in connection
therewith are genuine, and each is the legal, valid and binding obligation
of
the maker thereof, enforceable in accordance with its terms, except as such
enforcement may be limited by bankruptcy, insolvency, reorganization or other
similar laws affecting the enforcement of creditors’ rights generally and by
general equity principles (regardless of whether such enforcement is considered
in a proceeding in equity or at law); and, to the best of the Transferor’s
knowledge, all parties to the Mortgage Note and the Mortgage had legal capacity
to execute the Mortgage Note and the Mortgage and each Mortgage Note and
Mortgage has been duly and properly executed by the Mortgagor;
(xiii) All
Mortgage Loans were originated in compliance with all applicable laws,
including, but not limited to, all applicable anti-predatory lending
laws;
(xiv) No
Mortgage Loan is a High Cost Loan or Covered Loan, as applicable, and no
Mortgage Loan originated on or after October 1, 2002 through March 6, 2003
is
governed by the Georgia Fair Lending Act. No Mortgage Loan is covered
by the Home Ownership and Equity Protection Act of 1994 and no Mortgage Loan
is
in violation of any comparable state or local law;
(xv) No
Mortgage Loan is a High Cost Loan or Covered Loan, as applicable (as such terms
are defined in the then current Standard & Poor’s LEVELS® Glossary which is
now Version 5.6 Revised, Appendix E);
(xvi) The
proceeds of the Mortgage Loans have been fully disbursed, there is no
requirement for future advances thereunder and any and all requirements as
to
completion of any on site or off site improvements and as to disbursements
of
any escrow funds therefor have been complied with (except for escrow funds
for
exterior items which could not be completed due to weather and escrow funds
for
the completion of swimming pools); and all costs, fees and expenses incurred
in
making, closing or recording the Mortgage Loan have been paid, except recording
fees with respect to Mortgages not recorded as of the Closing Date;
(xvii) The
Mortgage Loan (except any Mortgage Loan secured by a Mortgaged Property located
in any jurisdiction, as to which an opinion of counsel of the type customarily
rendered in such jurisdiction in lieu of title insurance is instead received)
is
covered by an American Land Title Association mortgagee title insurance policy
or other generally acceptable form of policy or insurance acceptable to Xxxxxx
Xxx or Xxxxxxx Mac, issued by a title insurer acceptable to Xxxxxx Mae or
Xxxxxxx Mac insuring the originator, its successors and assigns, as to the
first
priority lien of the Mortgage in the original principal amount of the Mortgage
Loan and subject only to (A) the lien of current real property taxes and
assessments not yet due and payable, (B) covenants, conditions and
restrictions, rights of way, easements and other matters of public record as
of
the date of recording of such Mortgage acceptable to mortgage lending
institutions in the area in which the Mortgaged Property is located or
specifically referred to in the appraisal performed in connection with the
origination of the related Mortgage Loan, (C) liens created pursuant to any
federal, state or local law, regulation or ordinance affording liens for the
costs of clean-up of hazardous substances or hazardous wastes or for other
environmental protection purposes and (D) such other matters to which like
properties are commonly subject which do not individually, or in the aggregate,
materially interfere with the benefits of the security intended to be provided
by the Mortgage; the Transferor is the sole insured of such mortgagee title
insurance policy, the assignment to the Trustee of the Transferor’s interest in
such mortgagee title insurance policy does not require any consent of or
notification to the insurer which has not been obtained or made, such mortgagee
title insurance policy is in full force and effect and will be in full force
and
effect and inure to the benefit of the Trustee, no claims have been made under
such mortgagee title insurance policy, and no prior holder of the related
Mortgage, including the Transferor, has done, by act or omission, anything
which
would impair the coverage of such mortgagee title insurance policy;
(xviii) The
Mortgaged Property securing each Mortgage Loan is insured by an insurer
acceptable to Xxxxxx Mae or Xxxxxxx Mac against loss by fire and such hazards
as
are covered under a standard extended coverage endorsement, in an amount which
is not less than the lesser of 100% of the insurable value of the Mortgaged
Property and the outstanding principal balance of the Mortgage Loan, but in
no
event less than the minimum amount necessary to fully compensate for any damage
or loss on a replacement cost basis; if the Mortgaged Property is a condominium
unit, it is included under the coverage afforded by a blanket policy for the
project; if upon origination of the Mortgage Loan, the improvements on the
Mortgaged Property were in an area identified in the Federal Register by the
Federal Emergency Management Agency as having special flood hazards, a flood
insurance policy meeting the requirements of the current guidelines of the
Federal Insurance Administration is in effect with a generally acceptable
insurance carrier, in an amount representing coverage not less than the least
of
(A) the outstanding principal balance of the Mortgage Loan, (B) the
full insurable value of the Mortgaged Property and (C) the maximum amount
of insurance which was available under the National Flood Insurance Act of
1968,
as amended; and each Mortgage obligates the Mortgagor thereunder to maintain
all
such insurance at the Mortgagor’s cost and expense;
(xix) To
the
best of the Transferor’s knowledge, no foreclosure action is currently
threatened or has been commenced with respect to the Mortgage Loan and the
Transferor has not waived any default, breach, violation or event of
acceleration;
(xx) No
Mortgage Note or Mortgage is subject to any right of rescission, set off,
counterclaim or defense, including the defense of usury, nor will the operation
of any of the terms of the Mortgage Note or Mortgage, or the exercise of any
right thereunder, render the Mortgage Note or Mortgage unenforceable, in whole
or in part, or subject it to any right of rescission, set off, counterclaim
or
defense, including the defense of usury, and no such right of rescission, set
off, counterclaim or defense has been asserted with respect
thereto;
(xxi) Each
Mortgage Note is payable in monthly payments;
(xxii) Each
Mortgage contains customary and enforceable provisions such as to render the
rights and remedies of the holder thereof adequate for the realization against
the Mortgaged Property of the benefits of the security, including realization
by
judicial foreclosure (subject to any limitation arising from any bankruptcy,
insolvency or other law for the relief of debtors), and there is no homestead
or
other exemption available to the Mortgagor which would interfere with such
right
of foreclosure;
(xxiii) To
the
best of the Transferor’s knowledge, no Mortgagor is a debtor in any state or
federal bankruptcy or insolvency proceeding;
(xxiv) Each
Mortgaged Property consists of a one to four unit residential property, which
may include a detached home, townhouse, condominium unit or a unit in a
planned-unit development or, in the case of Mortgage Loans secured by co op
shares, leases or occupancy agreements;
(xxv) The
Mortgage Loan is a “qualified mortgage” within the meaning of
Section 860G(a)(3) of the Code;
(xxvi) With
respect to each Mortgage where a lost note affidavit has been delivered to
the
Trustee in place of the related Mortgage Note, the related Mortgage Note is
no
longer in existence;
(xxvii) In
the
event that the Mortgagor is an inter vivos“living” trust, (i) such
trust is in compliance with Xxxxxx Mae or Xxxxxxx Mac standards for inter
vivos trusts and (ii) holding title to the Mortgaged Property in such
trust will not diminish any rights as a creditor including the right to full
title to the Mortgaged Property in the event foreclosure proceedings are
initiated;
(xxviii) If
the
Mortgage Loan is secured by a long term residential lease, (1) the lessor
under the lease holds a fee simple interest in the land; (2) the terms of
such lease expressly permit the mortgaging of the leasehold estate, the
assignment of the lease without the lessor’s consent and the acquisition by the
holder of the Mortgage of the rights of the lessee upon foreclosure or
assignment in lieu of foreclosure or provide the holder of the Mortgage with
substantially similar protections; (3) the terms of such lease do not
(a) allow the termination thereof upon the lessee’s default without the
holder of the Mortgage being entitled to receive written notice of, and
opportunity to cure, such default or (b) allow the termination of the lease
in the event of damage or destruction as long as the Mortgage is in existence;
(4) the term of such lease does not terminate earlier than five years after
the maturity date of the Mortgage Note; and (5) the Mortgaged Property is
located in a jurisdiction in which the use of leasehold estates in transferring
ownership in residential properties is a widely accepted practice;
(xxix) The
Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing
and Urban Development pursuant to Sections 203 and 211 of the National Housing
Act, as amended, a savings and loan association, a savings bank, a commercial
bank, credit union, insurance company or similar institution which is supervised
and examined by a federal or state authority;
(xxx) The
Mortgage Loan was underwritten in accordance with the underwriting guidelines
of
the related Loan Seller in effect at the time of origination with exceptions
thereto exercised in a reasonable manner;
(xxxi) The
Loan
Seller used no adverse selection procedures in selecting the Mortgage Loan
from
among the outstanding first-lien, residential mortgage loans owned by it which
were available for sale to the Transferor;
(xxxii) With
respect to each Mortgage Loan, the Transferor is in possession of a complete
Mortgage File except for the documents which have been delivered to the Trustee
or which have been submitted for recording and not yet returned;
(xxxiii) As
of the
Cut-off Date, the range of original Loan-to-Value Ratios of the Mortgage Loans
is 14.13% to 100.00%, and 32.74% of the Cut-off Date Pool Balance had
Loan-to-Value Ratios at origination in excess of 80.00%. Each such
Mortgage Loan is subject to a Primary Insurance Policy;
(xxxiv) With
respect to each Mortgage Loan, the related Servicing Agreement requires the
related Servicer to deposit into the related Protected Account an amount equal
to all payments of principal and interest on such Mortgage Loan that are
delinquent at the close of business on the related Determination Date and not
previously advanced by such Servicer. The obligation of such Servicer
to advance such payments as to such Mortgage Loan will continue through the
final disposition or liquidation of the Mortgaged Property, unless such Servicer
deems such advance to be nonrecoverable from liquidation proceeds, REO
disposition proceeds, condemnation proceeds or insurance proceeds with respect
to such Mortgage Loan;
(xxxv) With
respect to each Mortgage Loan that has a prepayment penalty feature, each such
prepayment penalty is enforceable and, at the time such Mortgage Loan was
originated, each prepayment penalty complied with applicable federal, state
and
local law, subject to federal preemption where applicable;
(xxxvi) No
Mortgagor was required to purchase any single premium credit insurance policy
(e.g., life, disability, property, accident, unemployment or health
insurance product) or debt cancellation agreement as a condition of obtaining
the extension of credit. No Mortgagor obtained a prepaid
single-premium credit insurance policy (e.g., life, disability,
property, accident, unemployment, mortgage or health insurance) in connection
with the origination of the Mortgage Loan. No proceeds from any
Mortgage Loan were used to purchase single premium credit insurance policies
as
part of the origination of, or as a condition to closing, such Mortgage
Loan;
(xxxvii) No
subprime Mortgage Loan originated on or after October 1, 2002 will impose a
prepayment premium for a term in excess of three years. Any Mortgage
Loans originated prior to such date, and any non-subprime loans, will not impose
prepayment penalties in excess of five years;
(xxxviii) The
Servicer for each Mortgage Loan has fully furnished, in accordance with the
Fair
Credit Reporting Act and its implementing regulations, accurate and complete
information (i.e., favorable and unfavorable) on its borrower credit
filed to Equifax, Experian, and Trans Union Credit Information Company (three
of
the credit repositories), on a monthly basis; and
(xxxix) No
Mortgage Loan originated on or after August 1, 2004 requires the Mortgagor
to submit to arbitration to resolve any dispute arising out of or relating
in
any way to the Mortgage Loan transaction.
SCHEDULE III
Class
P
Prepayment Charges Mortgage Loan Schedule.
Available
Upon Request
EXHIBIT
A-1
(FORM
OF
CLASS [1-A-1] [1-A-2] [2-A-1] [2-A-2] [2-A-3] [3-A-1] [3-A-2] [4-A-1]
[4-A-2] [4-A-4] [4-A-5] [4-A-6] [5-A-1] CERTIFICATE)
UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
FOR
U.S.
FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL
ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(THE
“CODE”).
Certificate
No.:
|
[1]
|
Cut-off
Date:
|
September
1,
2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25 2047
|
Pass-Through
Rate
|
[________]%
|
[Variable
in accordance with the Agreement]
|
|
[Initial
Certificate Principal Balance of this Certificate
(“Denomination”):]
|
$[____________]
|
[Initial
Certificate Principal Balances of all Certificates of this
Class:]
|
$[____________]
|
CUSIP:
|
[_____________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates, Series 2007-HF1
Class [_]-A-[_]
evidencing
a percentage interest in the distributions allocable to the Certificates
of the above-referenced Class with respect to a Trust Fund consisting
primarily of fixed-rate and adjustable-rate mortgage loans (the
“Mortgage Loans”) secured by first liens on one- to four-family
residential properties
|
Mortgage
Asset Securitization Transactions, Inc., as Depositor
Principal
in respect of this Certificate is distributable monthly as set forth
herein. Accordingly, the Certificate Principal Balance at any time
may be less than the Certificate Principal Balance as set forth
herein. This Certificate does not evidence an obligation of, or an
interest in, and is not guaranteed by the Depositor, the Transferor, the Master
Servicer, the Trust Administrator, the Custodian or the Trustee referred to
below or any of their respective affiliates. Neither this Certificate
nor the Mortgage Loans are guaranteed or insured by any governmental agency
or
instrumentality.
This
certifies that Cede & Co. is the registered owner of the Percentage Interest
evidenced by this Certificate in certain monthly distributions with respect
to a
Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage
Asset Securitization Transactions, Inc. (the “Depositor”). The
Trust Fund was created pursuant to a Pooling and Servicing Agreement dated
as of
the Cut-off Date specified above (the “Agreement”) among the Depositor,
UBS Real Estate Securities Inc., as transferor (the “Transferor”), Xxxxx
Fargo Bank, N.A., as master servicer (in such capacity, the “Master
Servicer”), as trust administrator (in such capacity, the “Trust
Administrator”), as custodian
(in such capacity, the “Custodian”),
and as credit risk manager (in such
capacity, the “Credit
Risk Manager”),
and
U.S. Bank National
Association, as trustee (the “Trustee”). Distributions
on this Certificate will be made primarily from collections on the applicable
Mortgage Loans pursuant to the terms of the Agreement. To the extent
not defined herein, the capitalized terms used herein have the meanings assigned
in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.
Reference
is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.
This
Certificate shall not be entitled to any benefit under the Agreement or be
valid
for any purpose unless manually countersigned by an authorized signatory of
the
Trust Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated:
October __, 2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT
A-2
(FORM
OF
CLASS [4-A-3] [4-A-7] [4-AX] CERTIFICATE)
UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
FOR
U.S.
FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL
ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(THE
“CODE”).
THIS
CERTIFICATE HAS NO PRINCIPAL BALANCE AND IS NOT ENTITLED TO ANY DISTRIBUTIONS
IN
RESPECT OF PRINCIPAL.
Certificate
No.:
|
[1]
|
Cut-off
Date:
|
September
1,
2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25, 2047
|
Pass-Through
Rate:
|
[_____]%
|
Initial
Notional Amount of this Certificate (“Denomination”):
|
$[_______]
|
Initial
Notional Amount of all Certificates of this Class:
|
$[_________]
|
CUSIP:
|
[_____________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates, Series 2007-HF1
Class [4-A-3]
[4-A-7] [4-AX]
evidencing
a percentage interest in the distributions allocable to the Certificates
of the above-referenced Class with respect to a Trust Fund consisting
primarily of fixed-rate and adjustable-rate mortgage loans (the
“Mortgage Loans”) secured by first liens on one- to four-family
residential properties
|
Mortgage
Asset Securitization Transactions, Inc., as Depositor
This
Certificate does not evidence an obligation of, or an interest in, and is not
guaranteed by the Depositor, the Transferor, the Master Servicer, the Trust
Administrator, the Custodian or the Trustee referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage
Loans are guaranteed or insured by any governmental agency or
instrumentality.
This
certifies that Cede & Co. is the registered owner of the Percentage Interest
evidenced by this Certificate specified above in certain monthly distributions
with respect to a Trust Fund consisting primarily of the Mortgage Loans
deposited by Mortgage Asset Securitization Transactions, Inc. (the
“Depositor”). The Trust Fund was created pursuant to a Pooling
and Servicing Agreement dated as of the Cut-off Date specified above (the
“Agreement”) among the Depositor, UBS Real Estate Securities Inc., as
transferor (the “Transferor”), Xxxxx Fargo Bank, N.A., as master servicer
(in such capacity, the “Master Servicer”), as trust administrator (in
such capacity, the “Trust Administrator”), as custodian (in such
capacity, the
“Custodian”),
and as credit risk manager (in such
capacity, the “Credit
Risk Manager”),
and U.S. Bank
National Association, as trustee (the
“Trustee”). Distributions on this Certificate will be made
primarily from collections on the applicable Mortgage Loans pursuant to the
terms of the Agreement. To the extent not defined herein, the
capitalized terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which Agreement the Holder
of this Certificate by virtue of the acceptance hereof assents and by which
such
Holder is bound.
Reference
is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.
This
Certificate shall not be entitled to any benefit under the Agreement or be
valid
for any purpose unless manually countersigned by an authorized signatory of
the
Trust Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated: October
__, 2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT A-3
(FORM
OF
CLASS 4-PO CERTIFICATE)
UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
FOR
U.S.
FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL
ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(THE
“CODE”).
THIS
CERTIFICATE IS A PRINCIPAL ONLY CERTIFICATE AND IS NOT ENTITLED TO ANY
DISTRIBUTIONS IN RESPECT OF INTEREST.
Certificate
No.:
|
[1]
|
Cut-off
Date:
|
September
1,
2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25, 2047
|
Initial
Certificate Principal Balance of this Certificate
(“Denomination”):
|
$[____________]
|
Initial
Certificate Principal Balances of all Certificates of this
Class:
|
$[____________]
|
CUSIP:
|
[_____________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates, Series 2007-HF1
Class 4-PO
evidencing
a percentage interest in the distributions allocable to the Certificates
of the above-referenced Class with respect to a Trust Fund consisting
primarily of fixed-rate and adjustable-rate mortgage loans (the
“Mortgage Loans”) secured by first liens on one- to four-family
residential properties
|
Mortgage
Asset Securitization Transactions, Inc., as Depositor
Principal
in respect of this Certificate is distributable monthly as set forth
herein. Accordingly, the Certificate Principal Balance at any time
may be less than the Certificate Principal Balance as set forth
herein. This Certificate does not evidence an obligation of, or an
interest in, and is not guaranteed by the Depositor, the Transferor, the Master
Servicer, the Trust Administrator, the Custodian or the Trustee referred to
below or any of their respective affiliates. Neither this Certificate
nor the Mortgage Loans are guaranteed or insured by any governmental agency
or
instrumentality.
This
certifies that Cede & Co. is the registered owner of the Percentage Interest
evidenced by this Certificate in certain monthly distributions with respect
to a
Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage
Asset Securitization Transactions, Inc. (the “Depositor”). The
Trust Fund was created pursuant to a Pooling and Servicing Agreement dated
as of
the Cut-off Date specified above (the “Agreement”) among the Depositor,
UBS Real Estate Securities Inc., as transferor (the “Transferor”), Xxxxx
Fargo Bank, N.A., as master servicer (in such capacity, the “Master
Servicer”), as trust administrator (in such capacity, the “Trust
Administrator”), as custodian
(in such capacity, the “Custodian”),
and as credit risk manager (in such
capacity, the “Credit
Risk Manager”),
and U.S. Bank
National Association, as trustee (the
“Trustee”). Distributions on this Certificate will be made
primarily from collections on the applicable Mortgage Loans pursuant to the
terms of the Agreement. To the extent not defined herein, the
capitalized terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which Agreement the Holder
of this Certificate by virtue of the acceptance hereof assents and by which
such
Holder is bound.
Reference
is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.
This
Certificate shall not be entitled to any benefit under the Agreement or be
valid
for any purpose unless manually countersigned by an authorized signatory of
the
Trust Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated: October__,
2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT B
(FORM
OF
CLASS [B-1] [B-2] [B-3] [B-4] [B-5] [B-6] [B-7] [B-8] CERTIFICATE)
[For
Classes X-0, X-0, X-0, X-0 and B-5 Only] UNLESS THIS CERTIFICATE IS PRESENTED
BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.
FOR
U.S.
FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST” IN A “REAL
ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
(THE
“CODE”).
THIS
CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN CERTIFICATES AS
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.
[For
Classes X-0, X-0 and B-8 Only] [THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). ANY RESALE OR
TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY
ONLY
BE MADE IN A TRANSACTION EXEMPTED FROM THE REGISTRATION REQUIREMENTS OF THE
ACT
AND IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO
HEREIN.]
[For
Classes X-0, X-0 and B-8 Only] [THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE
HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT
IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO
A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE ACT,
(B) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE
144A UNDER THE ACT (“RULE 144A”), TO A PERSON WHO THE SELLER REASONABLY BELIEVES
IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL “ACCREDITED
INVESTOR” WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS UNDER
THE ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE ACT, SUBJECT IN EACH OF THE FOREGOING CASES
TO
THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO THE TRUST ADMINISTRATOR OF
A
CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE LAST PAGE OF THIS
CERTIFICATE.]
[For
Classes X-0, X-0, X-0, X-0 and B-5 Only] [EACH TRANSFEREE SHALL BE
DEEMED TO MAKE THE REPRESENTATIONS IN SECTION 5.02 OF THE AGREEMENT REFERRED
TO
HEREIN.]
[For
Classes X-0, X-0 and B-8 Only] [NO TRANSFER OF THIS CERTIFICATE SHALL BE MADE
EXCEPT IN ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO
HEREIN.]
Certificate
No.:
|
[1]
|
Cut-off
Date:
|
September
1, 2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25, 2047
|
Pass-Through
Rate:
|
[ ]%
|
[Variable in accordance with the Agreement] | |
Initial
Certificate Principal Balance of this Certificate
(“Denomination”):
|
$[______]
|
Initial
Certificate Principal Balances of all Certificates of this
Class:
|
$[___________]
|
CUSIP:
|
[___________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates, Series 2007-HF1
Class B-[__]
evidencing
a percentage interest in the distributions allocable to the Certificates
of the above-referenced Class with respect to a Trust Fund consisting
primarily of fixed-rate and adjustable-rate mortgage loans (the
“Mortgage Loans”) secured by first liens on one- to four-family
residential properties
|
Mortgage
Asset Securitization Transactions, Inc., as Depositor
Principal
in respect of this Certificate
is distributable monthly as set forth herein. Accordingly, the
Certificate Principal Balance at any time may be less than the Certificate
Principal Balance as set forth herein. This Certificate does not
evidence an obligation of, or an interest in, and is not guaranteed by the
Depositor, the Transferor, the Master Servicer, the Trust Administrator, the
Custodian or the Trustee referred to below or any of their respective
affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or
instrumentality.
This
certifies that [Cede & Co.] [UBS Securities LLC] is the registered owner of
the Percentage Interest evidenced by this Certificate in certain monthly
distributions with respect to a Trust Fund consisting primarily of the Mortgage
Loans deposited by Mortgage Asset Securitization Transactions, Inc. (the
“Depositor”). The Trust Fund was created pursuant to a Pooling and
Servicing Agreement dated as of the Cut-off Date specified above (the
“Agreement”) among the Depositor, UBS Real Estate Securities Inc., as transferor
(the “Transferor”), Xxxxx Fargo Bank, N.A., as master servicer (in such
capacity, the “Master Servicer”), as trust administrator (in such capacity, the
“Trust Administrator”), as
custodian (in such capacity, the “Custodian”), and as credit risk manager (in
such capacity, the “Credit Risk Manager”), and U.S. Bank National
Association, as trustee (the “Trustee”). Distributions on this
Certificate will be made primarily from collections on the Mortgage Loans
pursuant to the terms of the Agreement. To the extent not defined
herein, the capitalized terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which Agreement the Holder
of this Certificate by virtue of the acceptance hereof assents and by which
such
Holder is bound.
[For
Classes X-0, X-0 and B-8 Only] [No transfer of a Certificate
of this
Class shall be made unless such transfer is made pursuant to an effective
registration statement under the Securities Act and any applicable state
securities laws or is exempt from the registration requirements under said
Act
and such laws. In the event that a transfer is to be made in reliance
upon an exemption from the Securities Act and such laws, in order to assure
compliance with the Securities Act and such laws, the Certificateholder desiring
to effect such transfer and such Certificateholder’s prospective transferee
shall each certify to the Trust Administrator in writing the facts surrounding
the transfer. In the event that such a transfer is to be made within
three years from the date of the initial issuance of Certificates pursuant
hereto, there shall also be delivered (except in the case of a transfer pursuant
to Rule 144A of the Securities Act) to the Trust Administrator an Opinion of
Counsel that such transfer may be made pursuant to an exemption from the
Securities Act and such state securities laws, which Opinion of Counsel shall
not be obtained at the expense of the Trustee, the Master Servicer, the Trust
Administrator or the Depositor. The Holder hereof desiring to effect
such transfer shall, and does hereby agree to, indemnify the Trustee and the
Trust Administrator and the Depositor against any liability that may result
if
the transfer is not so exempt or is not made in accordance with such federal
and
state laws.]
[For
Classes X-0, X-0, X-0, X-0 and B-5 Only] [Each Transferee shall be
deemed to make the representations in Section 5.02 of the
Agreement.]
[For
Classes X-0, X-0 and B-8 Only] [No transfer of this Certificate shall
be made except in accordance with Section 5.02 of the Agreement.]
Reference
is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.
This
Certificate shall not be entitled to any benefit under the Agreement or be
valid
for any purpose unless manually countersigned by an authorized signatory of
the
Trust Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated:
October __, 2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT
C
(FORM
OF
CLASS AR CERTIFICATE)
FOR
U.S.
FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST” IN A
“REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986,
AS
AMENDED (THE “CODE”). TRANSFERS OF THIS CERTIFICATE TO ANY PERSON WHO
IS NOT A PERMITTED TRANSFEREE, AS SET FORTH IN SECTION 5.02(C) OF THE
AGREEMENT IS PROHIBITED.
NEITHER
THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE PROPOSED
TRANSFEREE DELIVERS TO THE TRUST ADMINISTRATOR A TRANSFER AFFIDAVIT IN
ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.
THE
HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER, SELL
OR
OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL APPLICABLE
STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT WHICH
HAS BEEN DECLARED EFFECTIVE UNDER THE ACT, (B) FOR SO LONG AS THIS
CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE ACT (“RULE
144A”), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE
ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS UNDER THE ACT,
OR
(D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE
COMPLETION AND DELIVERY BY THE TRANSFEROR TO THE TRUST ADMINISTRATOR OF A
CERTIFICATE OF TRANSFER IN THE FORM ATTACHED TO THE AGREEMENT.
NO
TRANSFER OF THIS CERTIFICATE SHALL BE MADE EXCEPT IN ACCORDANCE WITH SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.
Certificate
No.:
|
1
|
Cut-off
Date:
|
September
1,
2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25, 2047
|
Pass-Through
Rate:
|
[_____]%
|
Initial
Certificate Principal Balance of this Certificate
(“Denomination”):
|
$100
|
Initial
Certificate Principal Balances of all Certificates of this
Class:
|
$100
|
CUSIP:
|
[____________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates,
Series 2007-HF1
Class
AR
evidencing
a percentage interest in the distributions allocable to the Certificates
of the above-referenced Class with respect to a Trust Fund consisting
primarily of fixed-rate and adjustable-rate mortgage loans (the
“Mortgage Loans”) secured by first liens on one- to four-family
residential properties
|
Mortgage
Asset Securitization Transactions, Inc., as Depositor
Principal
in respect of this Certificate
is distributable monthly as set forth herein. Accordingly, the
Certificate Principal Balance at any time may be less than the Certificate
Principal Balance as set forth herein. This Certificate does not
evidence an obligation of, or an interest in, and is not guaranteed by the
Depositor, the Transferor, the Master Servicer, the Trust Administrator, the
Custodian or the Trustee referred to below or any of their respective
affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or
instrumentality.
This
certifies that UBS Securities LLC
is the registered owner of the Percentage Interest evidenced by this Certificate
in certain monthly distributions with respect to a Trust Fund consisting
primarily of the Mortgage Loans deposited by Mortgage Asset Securitization
Transactions, Inc. (the “Depositor”). The
Trust Fund was
created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off
Date specified above (the “Agreement”)
among the Depositor, UBS Real Estate
Securities Inc., as transferor (the “Transferor”),
Xxxxx Fargo Bank, N.A., as master
servicer (in such capacity, the “Master Servicer”),
as trust administrator (in such
capacity, the “Trust
Administrator”), as
custodian (in such capacity, the “Custodian”),
and as credit risk manager (in such
capacity, the “Credit
Risk Manager”), and
U.S. Bank National Association, as trustee (the “Trustee”). Distributions
on
this Certificate will be made primarily from collections on the Mortgage Loans
pursuant to the terms of the Agreement. To the extent not defined
herein, the capitalized terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which Agreement the Holder
of this Certificate by virtue of the acceptance hereof assents and by which
such
Holder is bound.
Any
distribution of the proceeds of any
remaining assets of the Trust Fund will be made only upon presentment and
surrender of this Class AR Certificate at the Corporate Trust Office of the
Trust Administrator.
No
transfer of this Certificate shall be made except in accordance with Section
5.02 of the Agreement.
Each
Holder of this Class AR
Certificate will be deemed to have agreed to be bound by the restrictions of
the
Agreement, including but not limited to the restrictions that (i) each
person holding or acquiring any Ownership Interest in this Class AR
Certificate must be a Permitted Transferee, (ii) no Ownership Interest in
this Class AR Certificate may be transferred without delivery to the Trust
Administrator of (a) a transfer affidavit of the proposed transferee and
(b) a transfer certificate of the transferor, each of such documents to be
in the form described in the Agreement, (iii) each person holding or
acquiring any Ownership Interest in this Class AR Certificate must agree to
require a transfer affidavit and to deliver a transfer certificate to the Trust
Administrator as required pursuant to the Agreement, (iv) each person
holding or acquiring an Ownership Interest in this Class AR Certificate
must agree not to transfer an Ownership Interest in this Class AR
Certificate if it has actual knowledge that the proposed transferee is not
a
Permitted Transferee and (v) any attempted or purported transfer of any
Ownership Interest in this Class AR Certificate in violation of such
restrictions will be absolutely null and void and will vest no rights in the
purported transferee.
Reference
is hereby made to the further
provisions of this Certificate set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this
place.
This
Certificate shall not be entitled
to any benefit under the Agreement or be valid for any purpose unless manually
countersigned by an authorized signatory of the Trust
Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated: October __,
2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT D
(FORM
OF
CLASS [P-1] [P-2] [P-3] [P-4] [P-5] CERTIFICATE)
THIS
CERTIFICATE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). ANY RESALE
OR TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT
MAY
ONLY BE MADE IN A TRANSACTION EXEMPTED FROM THE REGISTRATION REQUIREMENTS OF
THE
ACT AND IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO
HEREIN.
THE
HOLDER OF THIS CERTIFICATE BY ITS
ACCEPTANCE HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS
AND
(A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE
UNDER
THE ACT, (B) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT
TO
RULE 144A UNDER THE ACT (“RULE 144A”), TO A PERSON WHO THE SELLER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL
“ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF
REGULATION D UNDER THE ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM
THE REGISTRATION REQUIREMENTS OF THE ACT, SUBJECT IN EACH OF THE FOREGOING
CASES
TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO THE TRUST ADMINISTRATOR
OF A
CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE LAST PAGE OF THIS
CERTIFICATE.
NO
TRANSFER OF THIS CERTIFICATE SHALL BE MADE EXCEPT IN ACCORDANCE WITH SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.
Certificate
No.:
|
[1]
|
Cut-off
Date:
|
September
1, 2007
|
First
Distribution Date:
|
October
25, 2007
|
Last
Scheduled Distribution Date:
|
October
25, 2047
|
Initial
Certificate Principal Balance of this Certificate
(“Denomination”):
|
$[______]
|
Initial
Certificate Principal Balances of all Certificates of this
Class:
|
$[___________]
|
CUSIP:
|
[________]
|
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Pass-Through Certificates, Series 2007-HF1
Class
[P-1] [P-2] [P-3] [P-4] [P-5]
evidencing a percentage interest in the
Class P Prepayment Charges
Mortgage
Asset Securitization Transactions, Inc., as Depositor
This
Certificate does not evidence an obligation of, or an interest in, and is not
guaranteed by the Depositor, the Transferor, the Master Servicer, the Trust
Administrator, the Trustee or the Custodian referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or
instrumentality.
This
certifies that UBS Securities
LLC is the registered owner of the Percentage Interest evidenced by this
Certificate in the Class P Prepayment Charges with respect to a Trust Fund
consisting primarily of the Mortgage Loans deposited by Mortgage Asset
Securitization Transactions, Inc. (the “Depositor”). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date
specified above (the “Agreement”) among the Depositor, UBS Real Estate
Securities Inc., as transferor (the “Transferor”), Xxxxx Fargo Bank, National
Association, as master servicer (in such capacity, the “Master Servicer”), trust
administrator (in such capacity, the “Trust Administrator”), as custodian (in
such capacity, the “Custodian”), and as credit risk manager (in such capacity,
the “Credit Risk Manager”), and U.S. Bank National Association, as trustee (the
“Trustee”). Distributions on this Certificate will be made from Class P
Prepayment Charges pursuant to the terms of the Agreement. To the extent not
defined herein, the capitalized terms used herein have the meanings assigned
in
the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
No
transfer of a Certificate of this Class shall be made unless such transfer
is
made pursuant to an effective registration statement under the Securities Act
and any applicable state securities laws or is exempt from the registration
requirements under said Act and such laws. In the event that a transfer is
to be
made in reliance upon an exemption from the Securities Act and such laws, in
order to assure compliance with the Securities Act and such laws, the
Certificateholder desiring to effect such transfer and such Certificateholder's
prospective transferee shall each certify to the Trust Administrator in writing
the facts surrounding the transfer or there shall be delivered to the Trust
Administrator at the expense of the transferor an Opinion of Counsel addressed
to the Trust Administrator that such transfer may be made pursuant to an
exemption from the Securities Act. The Holder hereof desiring to effect such
transfer shall, and does hereby agree to, indemnify the Trust Administrator,
the
Trustee, the Master Servicer and the Depositor against any liability that may
result if the transfer is not so exempt or is not made in accordance with such
federal and state laws.
No
transfer of this Certificate shall be made except in accordance with Section
5.02 of the Agreement.
Reference
is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same
effect as if set forth at this place.
This
Certificate shall not be entitled to any benefit under the Agreement or be
valid
for any purpose unless manually countersigned by an authorized signatory of
the
Trust Administrator.
IN
WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
duly
executed.
Dated: October
__, 2007
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
|||
|
By:
|
||
Countersigned:
|
||
By:
|
||
Authorized
Signatory of
XXXXX
FARGO BANK, N.A.,
as
Trust Administrator
|
||
EXHIBIT
E
(Form
of
Reverse of Certificates)
MORTGAGE
ASSET SECURITIZATION
TRANSACTIONS, INC.
MASTR
ALTERNATIVE LOAN TRUST
2007-HF1
Mortgage
Pass-Through Certificates,
Series 2007-HF1
This
Certificate is one of a duly
authorized issue of Certificates designated as Mortgage Asset Securitization
Transactions, Inc. MASTR Alternative Loan Trust 2007-HF1, Mortgage Pass-Through
Certificates, of the Series specified on the face hereof (herein
collectively called the “Certificates”),
and representing a beneficial
ownership interest in the Trust Fund created by the
Agreement.
The
Certificateholder, by its acceptance
of this Certificate, agrees that it will look solely to the funds on deposit
in
the Distribution Account for payment hereunder and that the Trust Administrator
is not liable to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in the Agreement,
subject to any liability under the Agreement.
This
Certificate does not purport to
summarize the Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits, obligations and duties
evidenced thereby, and the rights, duties and immunities of the Trust
Administrator.
Pursuant
to the terms of the Agreement, a distribution will be made on the 25th day
of
each month or, if such 25th day is not a Business Day, the Business Day
immediately following (the “Distribution Date”), commencing on the first
Distribution Date specified on the face hereof, to the Person in whose name
this
Certificate is registered at the close of business on the applicable Record
Date
in an amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to Holders of Certificates
of the Class to which this Certificate belongs on such Distribution Date
pursuant to the Agreement.
Distributions
on this Certificate shall
be made by wire transfer of immediately available funds to the account of the
Holder hereof at a bank or other entity having appropriate facilities therefor,
if such Certificateholder shall have so notified the Trust Administrator in
writing at least five Business Days prior to the related Record Date and such
Certificateholder shall satisfy the conditions to receive such form of payment
set forth in the Agreement, or, if not, by check mailed by first class mail
to
the address of such Certificateholder appearing in the Certificate
Register. The final distribution on each Certificate will be made in
like manner, but only upon presentment and surrender of such Certificate at
the
Corporate Trust Office of the Trust Administrator or such other location
specified in the notice to Certificateholders of such final
distribution.
The
Agreement permits, with certain
exceptions therein provided, the amendment thereof and the modification of
the
rights and obligations of the Trust Administrator and the rights of the
Certificateholders under the Agreement at any time by the Transferor, the
Depositor, the Master Servicer, the Trust Administrator, the Custodian and
the
Trustee with the consent of the Holders of Certificates affected by such
amendment evidencing the requisite Percentage Interest, as provided in the
Agreement. Any such consent by the Holder of this Certificate shall
be conclusive and binding on such Holder and upon all future Holders of this
Certificate and of any Certificate issued upon the transfer hereof or in
exchange therefor or in lieu hereof whether or not notation of such consent
is
made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, without the consent of the Holders
of
any of the Certificates.
As
provided in the Agreement and subject
to certain limitations therein set forth, the transfer of this Certificate
is
registrable in the Certificate Register of the Trust Administrator upon
surrender of this Certificate for registration of transfer at the offices that
the Trust Administrator designates for such purposes, accompanied by a written
instrument of transfer in form satisfactory to the Trust Administrator and
the
Certificate Registrar duly executed by the holder hereof or such holder’s
attorney duly authorized in writing, and thereupon one or more new Certificates
of the same Class in authorized denominations and evidencing the same aggregate
Percentage Interest in the Trust Fund will be issued to the designated
transferee or transferees.
The
Certificates are issuable only as
registered Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for new
Certificates of the same Class in authorized denominations and evidencing the
same aggregate Percentage Interest, as requested by the Holder surrendering
the
same.
No
service charge will be made for any
such registration of transfer or exchange, but the Trust Administrator may
require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.
The
Depositor, the Master Servicer, the
Trust Administrator and the Trustee and any agent of the Depositor, the Master
Servicer, the Trust Administrator or the Trustee may treat the Person in whose
name this Certificate is registered as the owner hereof for all purposes, and
neither the Depositor, the Master Servicer, the Trust Administrator, the
Trustee, nor any such agent shall be affected by any notice to the
contrary.
On
any Distribution Date on which the
Pool Principal Balance is less than 5% of the aggregate Cut-off Date Principal
Balances of the Mortgage Loans, the Master Servicer will have the option to
repurchase, in whole, from the Trust Fund all remaining Mortgage Loans and
all
property acquired in respect of the Mortgage Loans at a purchase price
determined as provided in the Agreement. In the event that no such
optional termination occurs, the obligations and responsibilities created by
the
Agreement will terminate upon the later of the maturity or other liquidation
(or
any advance with respect thereto) of the last Mortgage Loan remaining in the
Trust Fund or the disposition of all property in respect thereof and the
distribution to Certificateholders of all amounts required to be distributed
pursuant to the Agreement. In noevent, however, will
the trust created
by the Agreement continue beyond the expiration of 21 years from the death
of
the last survivor of the descendants living at the date of the Agreement of
a
certain person named in the Agreement.
Any
term used herein that is defined in
the Agreement shall have the meaning assigned in the Agreement, and nothing
herein shall be deemed inconsistent with that meaning.
ASSIGNMENT
FOR
VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto
(Please
print or typewrite name and address including postal zip code of
assignee)
the
Percentage Interest evidenced by the within Certificate and hereby authorizes
the transfer of registration of such Percentage Interest to assignee on the
Certificate Register of the Trust Fund.
I
(We)
further direct the Trust Administrator to issue a new Certificate of a like
denomination and Class, to the above named assignee and deliver such Certificate
to the following address:
Dated:
Signature by or on behalf of assignor |
DISTRIBUTION
INSTRUCTIONS
The
assignee should include the following for purposes of distribution:
Distributions
shall be made, by wire transfer or otherwise, in immediately available funds
to
_______________________________________________________________
_______________________________________________________________________________________________________________________________________________________________
for
the
account of
____________________________________________________________________________________________________________________________________________,
account number ______________, or, if mailed by check, to
__________________________. Statements should be mailed to
________________________________________________
___________________________________________________________________________________________________________________________________________________________.
This
information is provided
by, _______________________________________________________________________________________________________________________________
the
assignee named above,
or _______________________________________________________________________________________________________________________________________,
as
its
agent.
STATE OF | ) |
) ss.: | |
COUNTY OF | ) |
On
the
day of _______, 200_ before me, a notary public in and for said
State, personally appeared ___________________________________, known to me
who,
being by me duly sworn, did depose and say that he executed the foregoing
instrument.
Notary Public |
[Notarial
Seal]
EXHIBIT F
FORM
OF
INITIAL CERTIFICATION OF CUSTODIAN
[date]
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000
U.S.
Bank
National Association, as trustee
00
Xxxxxxxxxx Xxxxxx, XX-XX-XX0X,
Xx.
Xxxx,
Xxxxxxxxx 00000-0000
Attn:
Structured Finance/MALT 2007-HF1
Re:
|
Pooling
and Servicing Agreement among Mortgage Asset Securitization Transactions,
Inc., as depositor, UBS Real Estate Securities Inc., as transferor,
Xxxxx
Fargo Bank, N.A., as master servicer, as trust administrator, as
custodian, and as credit risk manager and U.S. Bank National Association,
as trustee, in connection with MASTR Alternative Loan Trust 2007-HF1,
Mortgage Pass-Through Certificates,
Series 2007-HF1.
|
Gentlemen:
In
accordance with Section 2.02 of the above-captioned Pooling and Servicing
Agreement (the “Pooling and Servicing Agreement”), the undersigned, as
Custodian acting on behalf of the Trustee with respect to the related Mortgage
Loans, hereby certifies that, as to each related Mortgage Loan listed in the
Mortgage Loan Schedule (other than any related Mortgage Loan paid in full or
any
related Mortgage Loan listed on the attached schedule) it has
received:
(i) (a) the
original Mortgage Note or (b) with respect to any Lost Mortgage Note, a
lost note affidavit from the Depositor stating that the original Mortgage Note
was lost or destroyed; and
(ii) a
duly executed assignment of the Mortgage (which may be included in a blanket
assignment or assignments).
Based
on
its review and examination and only as to the foregoing documents, such
documents appear regular on their face and related to such Mortgage
Loan.
The
Custodian has made no independent examination of any documents contained in
each
related Mortgage File beyond the review specifically required in the Pooling
and
Servicing Agreement. The Custodian makes no representations as
to: (i) the validity, legality, sufficiency, enforceability or
genuineness of any of the documents contained in each related Mortgage File
of
any of the related Mortgage Loans identified on the Mortgage Loan Schedule,
or
(ii) the collectability, insurability, effectiveness or suitability of any
such Mortgage Loan.
Capitalized
words and phrases used herein shall have the respective meanings assigned to
them in the Pooling and Servicing Agreement.
[NAME
OF CUSTODIAN],
as
Custodian
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By:
|
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Name: | |||
Title: | |||
EXHIBIT G
FORM
OF
FINAL CERTIFICATION OF CUSTODIAN
[date]
U.S.
Bank
National Association, as trustee
00
Xxxxxxxxxx Xxxxxx, XX-XX-XX0X,
Xx.
Xxxx,
Xxxxxxxxx 00000-0000
Attn:
Structured Finance/MALT 2007-HF1
UBS
Real
Estate Securities Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000
Re:
|
Pooling
and Servicing Agreement among Mortgage Asset Securitization Transactions,
Inc., as depositor, UBS Real Estate Securities Inc., as transferor,
Xxxxx
Fargo Bank, N.A., as master servicer, as trust administrator, as
custodian, and as credit risk manager, and U.S. Bank National Association,
as trustee, in connection with MASTR Alternative Loan Trust 2007-HF1,
Mortgage Pass-Through Certificates,
Series 2007-HF1.
|
Gentlemen:
In
accordance with Section 2.02 of the above-captioned Pooling and Servicing
Agreement (the “Pooling and Servicing Agreement”), the undersigned, as
Custodian acting on behalf of the Trustee with respect to the related Mortgage
Loans, hereby certifies that, as to each related Mortgage Loan listed in the
Mortgage Loan Schedule (other than any related Mortgage Loan paid in full or
any
related Mortgage Loan listed on the attached schedule) it has
received:
(i)
the original
Mortgage Note endorsed in the form provided in Section 2.01(b) of the
Pooling and Servicing Agreement, with all intervening endorsements showing
a
complete chain of endorsement from the originator to the Person endorsing the
Mortgage Note.
(ii)
The original
recorded Mortgage.
(iii) A
duly executed assignment of the Mortgage in the form provided in
Section 2.01(b) of the Pooling and Servicing Agreement, or, if the
Depositor has certified or the Custodian otherwise knows that the related
Mortgage has not been returned from the applicable recording office, a copy
of
the assignment of the Mortgage (excluding information to be provided by the
recording office).
(iv) The
original or duplicate original recorded assignment or assignments of the
Mortgage showing a complete chain of assignment from the originator to the
Depositor.
(v)
The original
or duplicate original lender’s title policy and all riders thereto.
Based
on
its review and examination and only as to the foregoing documents, (a) such
documents appear regular on their face and related to such Mortgage Loan, and
(b) the information set forth in items (1), (2), (3), (4), (9), (16) and
(21) of the definition of the “Mortgage Loan Schedule” in Section 1.01 of
the Pooling and Servicing Agreement accurately reflects information set forth
in
the Mortgage File.
The
Custodian on behalf of the Trustee has made no independent examination of any
documents contained in each related Mortgage File beyond the review specifically
required in the Pooling and Servicing Agreement. The Custodian on
behalf of the Trustee makes no representations as to: (i) the
validity, legality, sufficiency, enforceability or genuineness of any of the
documents contained in each related Mortgage File of any of the related Mortgage
Loans identified on the Mortgage Loan Schedule, or (ii) the collectability,
insurability, effectiveness or suitability of any such Mortgage
Loan.
Capitalized
words and phrases used herein shall have the respective meanings assigned to
them in the Pooling and Servicing Agreement.
EXHIBIT H
FORM
OF
CLASS AR TRANSFER AFFIDAVIT
MASTR
ALTERNATIVE LOAN TRUST 2007-HF1
Mortgage
Asset Securitization Transactions, Inc.
Mortgage
Pass-Through Certificates
Series 2007-HF1
STATE OF | ) |
) ss.: | |
COUNTY OF | ) |
The
undersigned, being first duly sworn, deposes and says as follows:
1. The
undersigned is an officer of _______, the proposed Transferee of an Ownership
Interest in a Class AR Certificate (the “Certificate”) issued
pursuant to the Pooling and Servicing Agreement dated as of September 1, 2007
(the “Agreement”) among Mortgage Asset Securitization Transactions, Inc.,
as depositor, UBS Real Estate Securities Inc., as transferor (the
“Transferor”), Xxxxx Fargo Bank, N.A., as master servicer (in such
capacity, the “Master Servicer”), as trust administrator (in such
capacity, the “Trust Administrator”), as custodian (in such
capacity, the
“Custodian”),
and as credit risk manager (in such
capacity, the “Credit
Risk Manager”),
and U.S. Bank
National Association, as trustee (the
“Trustee”). Capitalized terms used, but not defined herein or
in Exhibit 1 hereto, shall have the meanings ascribed to such terms in the
Agreement. The Transferee has authorized the undersigned to make this
affidavit on behalf of the Transferee.
2. The
Transferee is, as of the date hereof, and will be, as of the date of the
Transfer, a Permitted Transferee. The Transferee is acquiring its
Ownership Interest in the Certificate either (i) for its own account or
(ii) as nominee, trustee or agent for another Person and has attached
hereto an affidavit from such Person in substantially the same form as this
affidavit. The Transferee has no knowledge that any such affidavit is
false.
3. The
Transferee has been advised of, and understands that (i) a tax will be
imposed on Transfers of the Certificate to Persons that are Disqualified
Organizations; (ii) such tax will be imposed on the transferor, or, if such
Transfer is through an agent (which includes a broker, nominee or middleman)
for
a Person that is a Disqualified Organization, on the agent; and (iii) the
Person otherwise liable for the tax shall be relieved of liability for the
tax
if the subsequent Transferee furnished to such Person an affidavit that such
subsequent Transferee is not a Disqualified Organization and, at the time of
Transfer, such Person does not have actual knowledge that the affidavit is
false.
4. The
Transferee has been advised of, and understands that a tax will be imposed
on a
“pass-through entity” holding the Certificate if at any time during the taxable
year of the pass-through entity a Person that is a Disqualified Organization
is
the record holder of an interest in such entity. The Transferee
understands that such tax will not be imposed for any period with respect to
which the record holder furnishes to the pass-through entity an affidavit that
such record holder is not a Disqualified Organization and the pass-through
entity does not have actual knowledge that such affidavit is false; provided,
that a pass-through entity which is an “electing large partnership” under the
Code will be subject to tax in all events. (For this purpose, a
“pass-through entity” includes a regulated investment company, a real estate
investment trust or common trust fund, a partnership, trust or estate, and
certain cooperatives and, except as may be provided in Treasury Regulations,
persons holding interests in pass-through entities as a nominee for another
Person.) The Transferee further understands that it may incur tax liabilities
with respect to the holding of the Certificate in excess of cash flows generated
thereby.
5. The
Transferee has reviewed the provisions of Section 5.02(c) of the Agreement
(attached hereto as Exhibit 2 and incorporated herein by reference) and
understands the legal consequences of the acquisition of an Ownership Interest
in the Certificate including, without limitation, the restrictions on subsequent
Transfers and the provisions regarding voiding the Transfer and mandatory
sales. The Transferee expressly agrees to be bound by and to abide by
the provisions of Section 5.02(c) of the Agreement and the restrictions
noted on the face of the Certificate. The Transferee understands and
agrees that any breach of any of the representations included herein shall
render the Transfer to the Transferee contemplated hereby null and
void.
6. The
Transferee agrees to require a Transfer Affidavit from any Person to whom the
Transferee attempts to Transfer its Ownership Interest in the Certificate,
and
in connection with any Transfer by a Person for whom the Transferee is acting
as
nominee, trustee or agent, and the Transferee will not Transfer its Ownership
Interest or cause any Ownership Interest to be Transferred to any Person that
the Transferee knows is not a Permitted Transferee. In connection
with any such Transfer by the Transferee, the Transferee agrees to deliver
to
the Trust Administrator a certificate substantially in the form set forth as
Exhibit I to the Agreement (a “Transferor Certificate”) to the effect that
such Transferee has no actual knowledge that the Person to which the Transfer
is
to be made is not a Permitted Transferee.
7. The
Transferee does not have the intention to impede the assessment or collection
of
any tax legally required to be paid with respect to the
Certificate. The Transferee historically has paid its debts as they
have become due and intends to do so in the future. The Transferee
understands that the taxable income and tax liability with respect to this
Certificate will exceed distributions with respect to the Certificate in some
or
all periods and intends to pay all taxes with respect to the Certificate as
they
become due.
8. The
Transferee’s taxpayer identification number is __________.
9. The
Transferee is a U.S. Person as defined in Code Section 7701(a)(30) or is
not a U.S. Person and has furnished the Transferor and the Trust Administrator
with a duly completed Internal Revenue Service Form W-8ECI or any applicable
successor form.
10. The
Transferee is aware that the Certificate may be a “noneconomic residual
interest” within the meaning of proposed Treasury regulations promulgated
pursuant to the Code and that the transferor of a noneconomic residual interest
will remain liable for any taxes due with respect to the income on such residual
interest, unless no significant purpose of the transfer was to impede the
assessment or collection of tax.
11. The
Transferee will not cause income with respect to the Certificate to be
attributable to a foreign permanent establishment or fixed base, within the
meaning of an applicable income tax treaty, of the Transferee or any other
U.S.
Person.
12. Check
one
of the following paragraphs:
□
The
present value of the anticipated tax liabilities associated with holding the
Certificate, as applicable, does not exceed the sum of:
(i) the
present value of any consideration given to the Transferee to acquiresuch
Certificate;
(ii) the
present value of the expected future distributions on suchCertificate;
and
(iii) the
present value of the anticipated tax savings associated with holdingsuch
Certificate as the related REMIC generates losses.
For
purposes of this calculation, (i) the Transferee is assumed to pay tax at the
highest rate currently specified in Section 11(b) of the Code (but the tax
rate
in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate
specified in Section 11(b) of the Code if the Transferee has been subject to
the
alternative minimum tax under Section 55 of the Code in the preceding two years
and will compute its taxable income in the current taxable year using the
alternative minimum tax rate) and (ii) present values are computed using a
discount rate equal to the short-term Federal rate prescribed by Section 1274(d)
of the Code for the month of the transfer and the compounding period used by
the
Transferee.
□
The
transfer of the Certificate complies with U.S. Treasury Regulations Sections
1.860E-1(c)(5) and (6) and, accordingly,
|
(i)
|
the
Transferee is an “eligible corporation,” as defined in U.S. Treasury
Regulations Section 1.860E-1(c)(6)(i), as to which income from the
Certificate will only be taxed in the United
States;
|
|
(ii)
|
at
the time of the transfer, and at the close of the Transferee’s two fiscal
years preceding the year of the transfer, the Transferee had gross
assets
for financial reporting purposes (excluding any obligation of a person
related to the Transferee within the meaning of U.S. Treasury Regulations
Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets
in
excess of $10 million;
|
|
(iii)
|
the
Transferee will transfer the Certificate only to another “eligible
corporation,” as defined in U.S. Treasury Regulations Section
1.860E-1(c)(6)(i), in a transaction that satisfies the requirements
of
U.S. Treasury Regulations Sections 1.860E-1(c)(4)(i), (ii) and (iii)
and
Section 1.860E-1(c)(5); and
|
|
(iv)
|
the
Transferee determined the consideration paid to it to acquire the
Certificate based on reasonable market assumptions (including, but
not
limited to, borrowing and investment rates, prepayment and loss
assumptions, expense and reinvestment assumptions, tax rates and
other
factors specific to the Transferee) that it has determined in good
faith.
|
□
None
of
the above.
13. The
Transferee is either: (i) not an employee benefit plan or other
retirement arrangement subject to Section 406 of ERISA and/or
Section 4975 of the Code, or a person acting for, on behalf of or with the
assets of, any such plan or arrangement or (ii) the Transferee has
delivered to the Trust Administrator an Opinion of Counsel satisfactory to
the
Depositor, Master Servicer and Trust Administrator to the effect that the
purchase or holding of such Certificate will not result in prohibited
transactions under Section 406 of ERISA and/or Section 4975 of the Code and
will
not subject the Trustee, the Transferor, the Depositor, the Master Servicer
or
the Trust Administrator to any obligation in addition to those undertaken in
the
Agreement, which Opinion of Counsel shall not be an expense of such parties
or
the Trust Fund.
* * *
IN
WITNESS WHEREOF, the Transferee has caused this instrument to be executed on
its
behalf, pursuant to authority of its Board of Directors, by its duly authorized
officer and its corporate seal to be hereunto affixed, duly attested, this
____________ day of __________________, 200_.
PRINT
NAME OF TRANSFEREE
|
|||
|
By:
|
||
Name: | |||
Title: | |||
[Corporate
Seal]
ATTEST:
[Assistant]
Secretary
|
Personally
appeared before me the above-named _______, known or proved to me to be the
same
person who executed the foregoing instrument and to be the __________ of the
Transferee, and acknowledged that he executed the same as his free act and
deed
and the free act and deed of the Transferee.
Subscribed
and sworn before me this ________ day of _______, 200_.
NOTARY PUBLIC | |
My Commission expires the ______ day of ________________, 200_. |
EXHIBIT 1
to
EXHIBIT H
Certain
Definitions
“Disqualified
Organization”: A Person specified in clauses (i)-(iv) of the
definition of “Permitted Transferee.”
“Ownership
Interest”: As to any Residual Certificate, any ownership interest
in such Certificate, including any interest in such Certificate as the Holder
thereof and any other interest therein, whether direct or indirect, legal or
beneficial.
“Permitted
Transferee”: Any person other than (i) the United States,
any State or political subdivision thereof, or any agency or instrumentality
of
any of the foregoing, (ii) a foreign government, International Organization
or any agency or instrumentality of either of the foregoing, (iii) an
organization (except certain farmers’ cooperatives described in Section 521
of the Code) which is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by Section 511 of the Code on unrelated business
taxable income) on any excess inclusions (as defined in Section 860E(c)(l)
of the Code) with respect to any Residual Certificate, (iv) rural electric
and telephone cooperatives described in Section 1381(a)(2)(C) of the Code,
(v) a Person that is not a citizen or resident of the United States, a
corporation, partnership (except as provided in applicable Treasury
Regulations), or other entity created or organized in or under the laws of
the
United States or any state thereof or the District of Columbia, an estate whose
income is subject to United States federal income tax purposes regardless of
its
source or a trust if a court within the United States is able to exercise
primary supervision over the administration of the trust and one or more persons
described in this clause (v) have the authority to control all substantial
decisions of the trust (or, to the extent provided in applicable Treasury
Regulations, certain trusts in existence on September 20, 1996 which are
eligible to elect to be treated as United States persons) unless such Person
has
furnished the transferor and the Trust Administrator with a duly completed
Internal Revenue Service Form W-8ECI or any applicable successor form,
(vi) any Person with respect to whom income on any residual certificate is
attributable to a foreign permanent establishment or fixed base, within the
meaning of an applicable treaty, of such Person or any other U.S. Person and
(vii) any other Person so designated by the Depositor based upon an Opinion
of
Counsel that the Transfer of an Ownership Interest in a Residual Certificate
to
such Person may cause a REMIC hereunder to fail to qualify as a REMIC at any
time that the Certificates are outstanding. The terms “United
States,” “State” and “International Organization” shall have the meanings set
forth in Section 7701 of the Code or successor provisions. A
corporation will not be treated as an instrumentality of the United States
or of
any State or political subdivision thereof for these purposes if all of its
activities are subject to tax and, with the exception of the Xxxxxxx Mac, a
majority of its board of directors is not selected by such government
unit.
“Person”: Any
individual, corporation, partnership, limited liability company, joint venture,
association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.
“Transfer”: Any
direct or indirect transfer or sale of any Ownership Interest in a Residual
Certificate.
“Transferee”: Any
Person who is acquiring by Transfer any Ownership Interest in a Residual
Certificate.
EXHIBIT 2
to
EXHIBIT H
Each
Person who has or who acquires any Ownership Interest in a Residual Certificate
shall be deemed by the acceptance or acquisition of such Ownership Interest
to
have agreed to be bound by the following provisions, and the rights of each
Person acquiring any Ownership Interest in a Residual Certificate are expressly
subject to the following provisions:
(i) Each
Person holding or acquiring any Ownership Interest in a Residual Certificate
shall be a Permitted Transferee and shall promptly notify the Trust
Administrator of any change or impending change in its status as a Permitted
Transferee.
(ii) No
Ownership Interest in a Residual Certificate may be registered on the Closing
Date or thereafter transferred, and the Trust Administrator shall not register
the Transfer of any Residual Certificate unless, in addition to the certificates
required to be delivered to the Trust Administrator under subparagraph (b)
above, the Trust Administrator shall have been furnished with an affidavit
(a
“Transfer Affidavit”) of the initial owner or the proposed transferee in the
form attached hereto as Exhibit J.
(iii) Each
Person holding or acquiring any Ownership Interest in a Residual Certificate
shall agree (A) to obtain a Transfer Affidavit from any other Person to
whom such Person attempts to Transfer its Ownership Interest in a Residual
Certificate, (B) to obtain a Transfer Affidavit from any Person for whom
such Person is acting as nominee, trustee or agent in connection with any
Transfer of a Residual Certificate and (C) not to Transfer its Ownership
Interest in a Residual Certificate or to cause the Transfer of an Ownership
Interest in a Residual Certificate to any other Person if it has actual
knowledge that such Person is not a Permitted Transferee.
(iv) Any
attempted or purported Transfer of any Ownership Interest in a Residual
Certificate in violation of the provisions of this Section 5.02(c) shall be
absolutely null and void and shall vest no rights in the purported
Transferee. If any purported transferee shall become a Holder of a
Residual Certificate in violation of the provisions of this
Section 5.02(c), then the last preceding Permitted Transferee shall be
restored to all rights as Holder thereof retroactive to the date of registration
of Transfer of such Residual Certificate. The Trust Administrator
shall be under no liability to any Person for any registration of Transfer
of a
Residual Certificate that is in fact not permitted by Section 5.02(b) and
this Section 5.02(c) or for making any payments due on such Certificate to
the Holder thereof or taking any other action with respect to such Holder under
the provisions of this Agreement so long as the Transfer was registered after
receipt of the related Transfer Affidavit, Transferor Certificate and either
the
Rule 144A Letter or the Investment Letter. The Trust Administrator
shall be entitled but not obligated to recover from any Holder of a Residual
Certificate that was in fact not a Permitted Transferee at the time it became
a
Holder or, at such subsequent time as it became other than a Permitted
Transferee, all payments made on such Residual Certificate at and after either
such time. Any such payments so recovered by the Trust Administrator
shall be paid and delivered by the Trust Administrator to the last preceding
Permitted Transferee of such Certificate.
(v) The
Depositor shall use its best efforts to make available, upon receipt of written
request from the Trust Administrator, all information necessary to compute
any
tax imposed under Section 860E(e) of the Code as a result of a Transfer of
an Ownership Interest in a Residual Certificate to any Holder who is not a
Permitted Transferee described in clauses (i) through (iv) of the definition
thereof.
The
restrictions on Transfers of a Residual Certificate set forth in this
Section 5.02(c) shall cease to apply (and the applicable portions of the
legend on a Residual Certificate may be deleted) with respect to Transfers
occurring after delivery to the Trust Administrator of an Opinion of Counsel,
which Opinion of Counsel shall not be an expense of the Trust Fund, the Trustee,
the Loan Seller, the Transferors, the Master Servicer or the Trust
Administrator, to the effect that the elimination of such restrictions will
not
cause a REMIC hereunder to fail to qualify as a REMIC at any time that the
Certificates are outstanding or result in the imposition of any tax on the
Trust
Fund, a Certificateholder or another Person. Each Person holding or
acquiring any Ownership Interest in a Residual Certificate hereby consents
to
any amendment of this Agreement which, based on an Opinion of Counsel furnished
to the Trust Administrator, is reasonably necessary (a) to ensure that the
record ownership of, or any beneficial interest in, a Residual Certificate
is
not transferred, directly or indirectly, to a Person that is not a Permitted
Transferee and (b) to provide for a means to compel the Transfer of a
Residual Certificate which is held by a Person that is not a Permitted
Transferee to a Holder that is a Permitted Transferee.
EXHIBIT I
FORM
OF
TRANSFEROR CERTIFICATE
_____________________
Date
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Xxxxx
Fargo Bank, N.A., as trust administrator
Xxxxx
Xxxxxx xxx Xxxxxxxxx Xxxxxx
Xxxxxxxxxxx,
Xxxxxxxxx 00000
Attention:
Re:
|
Mortgage
Asset Securitization Transactions, Inc., MASTR Alternative Loan Trust
2007-HF1, Mortgage Pass-Through Certificates, Series 2007-HF1,
Class AR
|
Ladies
and Gentlemen:
In
connection with our disposition of the above Certificates we certify that
(a) we have not offered or sold any Certificates to, or solicited offers to
buy any Certificates from, any person, or otherwise approached or negotiated
with any person with respect thereto, in a manner that would be deemed, or
taken
any other action which would result in, a violation of Section 5 of the
Securities Act of 1933, as amended and (b) to the extent we are disposing
of a Class AR Certificate, (i) we have no knowledge the Transferee is not a
Permitted Transferee, (ii) after conducting a reasonable investigation of
the financial condition of the Transferee, we have no reason to believe that
the
Transferee will not pay taxes with respect to the Class AR Certificate when
due,
and (iii) we have no reason to believe that the statements made in
paragraphs 7, 10 and 11 of the Transferee’s Transfer Affidavit are
false.
Very truly yours, | |||
Print Name of Transferor | |||
|
By:
|
||
Authorized Officer | |||
EXHIBIT J
FORM
OF
INVESTMENT LETTER (NON-RULE 144A)
_____________________
Date
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Xxxxx
Fargo Bank, N.A., as trust administrator
Xxxxx
Xxxxxx xxx Xxxxxxxxx Xxxxxx
Xxxxxxxxxxx,
Xxxxxxxxx 00000
Attention:
Re:
|
Mortgage
Asset Securitization Transactions, Inc., MASTR Alternative Loan Trust
2007-HF1, Mortgage Pass-Through Certificates, Series 2007-HF1,
Class [__________]
|
Ladies
and Gentlemen:
In
connection with our acquisition of the above Certificates we certify that
(a) we understand that the Certificates are not being registered under the
Securities Act of 1933, as amended (the “Act”), or any state securities
laws and are being transferred to us in a transaction that is exempt from the
registration requirements of the Act and any such laws, (b) we are an
“accredited investor,” as defined in Regulation D under the Act, and have such
knowledge and experience in financial and business matters that we are capable
of evaluating the merits and risks of investments in the Certificates,
(c) we have had the opportunity to ask questions of and receive answers
from the Depositor concerning the purchase of the Certificates and all matters
relating thereto or any additional information deemed necessary to our decision
to purchase the Certificates, (d) in the case of an ERISA-Restricted
Certificate, either (i) we are not an employee benefit plan or other retirement
arrangement subject to Section 406 of ERISA and/or Section 4975 of the
Code, or a person acting for, on behalf of or with the assets of, any such
plan
or arrangement, (ii) in the case of an ERISA-Restricted Certificate which
is the subject of an ERISA Qualifying Underwriting, if we are an insurance
company, we are an insurance company that is purchasing such Certificates with
funds contained in an “insurance company general account” (as such term is
defined in Section V(e) of Prohibited Transaction Class Exemption
95-60 (“PTCE 95-60”)) and the purchase and holding of such Certificates
are covered under Sections I and III of PTCE 95-60 or (iii) we have provided
the
Trust Administrator with a satisfactory Opinion of Counsel as required in the
Agreement to the effect that the purchase or holding of such ERISA-Restricted
Certificate will not result in prohibited transactions under Section 406 of
ERISA and/or Section 4975 of the Code and will not subject the Trustee, the
Transferor, the Depositor, the Master Servicer or the Trust Administrator to
any
obligation in addition to those undertaken in the Agreement, (e) we are
acquiring the Certificates for investment for our own account and not with
a
view to any distribution of such Certificates (but without prejudice to our
right at all times to sell or otherwise dispose of the Certificates in
accordance with clause (g) below), (f) we have not offered or sold any
Certificates to, or solicited offers to buy any Certificates from, any person,
or otherwise approached or negotiated with any person with respect thereto,
or
taken any other action which would result in a violation of Section 5 of
the Act, and (g) we will not sell, transfer or otherwise dispose of any
Certificates unless (1) such sale, transfer or other disposition is made
pursuant to an effective registration statement under the Act or is exempt
from
such registration requirements, and if requested, we will at our expense provide
an opinion of counsel satisfactory to the addressees of this Certificate that
such sale, transfer or other disposition may be made pursuant to an exemption
from the Act, (2) the purchaser or transferee of such Certificate has
executed and delivered to you a certificate to substantially the same effect
as
this certificate, and (3) the purchaser or transferee has otherwise
complied with any conditions for transfer set forth in the Pooling and Servicing
Agreement.
Very truly yours, | |||
Print Name of Transferor | |||
|
By:
|
||
Authorized Officer | |||
EXHIBIT K
FORM
OF
RULE 144A LETTER
_____________________
Date
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Xxxxx
Fargo Bank, N.A., as trust administrator
Xxxxx
Xxxxxx xxx Xxxxxxxxx Xxxxxx
Xxxxxxxxxxx,
Xxxxxxxxx 00000
Attention:
Re:
|
Mortgage
Asset Securitization Transactions, Inc., MASTR Alternative Loan Trust
2007-HF1, Mortgage Pass-Through Certificates, Series 2007-HF1,
Class [_______________]
|
Ladies
and Gentlemen:
In
connection with our acquisition of the above Certificates we certify that
(a) we understand that the Certificates are not being registered under the
Securities Act of 1933, as amended (the “Act”), or any state securities
laws and are being transferred to us in a transaction that is exempt from the
registration requirements of the Act and any such laws, (b) we have such
knowledge and experience in financial and business matters that we are capable
of evaluating the merits and risks of investments in the Certificates,
(c) we have had the opportunity to ask questions of and receive answers
from the Depositor concerning the purchase of the Certificates and all matters
relating thereto or any additional information deemed necessary to our decision
to purchase the Certificates, (d) in the case of an ERISA-Restricted
Certificate, either (i) we are not an employee benefit plan or other
retirement arrangement subject to Section 406 of ERISA and/or Section 4975
of the Code, or a person acting for, on behalf of or with the assets of, any
such plan or arrangement, (ii) in the case of an ERISA-Restricted
Certificate which is the subject of an ERISA Qualifying Underwriting, if we
are
an insurance company, we are an insurance company that is purchasing such
Certificates with funds contained in an “insurance company general account” (as
such term is defined in Section V(e) of Prohibited Transaction
Class Exemption 95-60 (“PTCE 95-60”)) and that the purchase and
holding of such Certificates are covered under Sections I and III of PTCE 95-60
or (iii) we have provided the Trust Administrator with a satisfactory Opinion
of
Counsel as required in the Agreement to the effect that the purchase or holding
of such ERISA-Restricted Certificate will not result in prohibited transactions
under Section 406 of ERISA and/or Section 4975 of the Code and will not subject
the Trustee, the Transferor, the Depositor, the Master Servicer or the Trust
Administrator to any obligation in addition to those undertaken in the
Agreement, (e) we have not, nor has anyone acting on our behalf offered,
transferred, pledged, sold or otherwise disposed of the Certificates, any
interest in the Certificates or any other similar security to, or solicited
any
offer to buy or accept a transfer, pledge or other disposition of the
Certificates, any interest in the Certificates or any other similar security
from, or otherwise approached or negotiated with respect to the Certificates,
any interest in the Certificates 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, that would constitute a
distribution of the Certificates under the Securities Act or that would render
the disposition of the Certificates a violation of Section 5 of the
Securities Act or require registration pursuant thereto, nor will act, nor
has
authorized or will authorize any person to act, in such manner with respect
to
the Certificates and (f) we are a “qualified institutional buyer” as that term
is defined in Rule 144A under the Securities Act and have completed either
of
the forms of certification to that effect attached hereto as Annex 1 or Annex
2. We are aware that the sale to us is being made in reliance on Rule
144A. We are acquiring the Certificates for our own account or for
resale pursuant to Rule 144A and further, understand that such Certificates
may
be resold, pledged or transferred only (i) to a person reasonably believed
to be a qualified institutional buyer that purchases for its own account or
for
the account of a qualified institutional buyer to whom notice is given that
the
resale, pledge or transfer is being made in reliance on Rule 144A, or
(ii) pursuant to another exemption from registration under the Securities
Act.
ANNEX
1
to
EXHIBIT K
QUALIFIED
INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
(For
Transferees Other Than Registered Investment Companies)
The
undersigned (the “Buyer”) hereby certifies as follows to the parties
listed in the Rule 144A Transferee Certificate to which this certification
relates with respect to the Certificates described therein:
1. As
indicated below, the undersigned is the President, Chief Financial Officer,
Senior Vice President or other executive officer of the Buyer.
2. In
connection with purchases by the Buyer, the Buyer is a “qualified institutional
buyer” as that term is defined in Rule 144A under the Securities Act of 1933, as
amended (“Rule 144A”) because (i) the Buyer owned and/or invested on
a discretionary basis either at least $100,000 in securities or, if Buyer is
a
dealer, Buyer must own and/or invest on a discretionary basis at least
$10,000,000 in securities (except for the excluded securities referred to below)
as of the end of the Buyer’s most recent fiscal year (such amount being
calculated in accordance with Rule 144A and (ii) the Buyer satisfies the
criteria in the category marked below.
· Corporation,
etc. The Buyer is a corporation (other than a bank, savings and
loan association or similar institution), Massachusetts or similar business
trust, partnership, or charitable organization described in
Section 501(c)(3) of the Internal Revenue Code of 1986, as
amended.
· Bank. The
Buyer (a) is a national bank or banking institution organized under the
laws of any State, territory or the District of Columbia, the business of which
is substantially confined to banking and is supervised by the State or
territorial banking commission or similar official or is a foreign bank or
equivalent institution, and (b) has an audited net worth of at least
$25,000,000 as demonstrated in its latest annual financial statements, a copy
of
which is attached hereto.
· Savings
and Loan. The Buyer (a) is a savings and loan association,
building and loan association, cooperative bank, homestead association or
similar institution, which is supervised and examined by a State or Federal
authority having supervision over any such institutions or is a foreign savings
and loan association or equivalent institution and (b) has an audited net
worth of at least $25,000,000 as demonstrated in its latest annual financial
statements, a copy of which is attached hereto.
· Broker-dealer. The
Buyer is a dealer registered pursuant to Section 15 of the Securities
Exchange Act of 1934.
· Insurance
Company. The Buyer is an insurance company whose primary and
predominant business activity is the writing of insurance or the reinsuring
of
risks underwritten by insurance companies and which is subject to supervision
by
the insurance commissioner or a similar official or agency of a State, territory
or the District of Columbia.
· State
or Local Plan. The Buyer is a plan established and maintained by
a State, its political subdivisions, or any agency or instrumentality of the
State or its political subdivisions, for the benefit of its
employees.
· ERISA
Plan. The Buyer is an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974.
· Investment
Advisor. The Buyer is an investment advisor registered under the
Investment Advisors Act of 1940.
· Small
Business Investment Company. Buyer is a small business investment
company licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of
1958.
· Business
Development Company. Buyer is a business development company as
defined in Section 202(a)(22) of the Investment Advisors Act of
1940.
3. The
term “securities” as used herein does not include
(i) securities of issuers that are affiliated with the Buyer,
(ii) securities that are part of an unsold allotment to or subscription by
the Buyer, if the Buyer is a dealer, (iii) securities issued or guaranteed
by the U.S. or any instrumentality thereof, (iv) bank deposit notes and
certificates of deposit, (v) loan participations, (vi) repurchase
agreements, (vii) securities owned but subject to a repurchase agreement
and (viii) currency, interest rate and commodity swaps.
4. For
purposes of determining the aggregate amount of securities owned and/or invested
on a discretionary basis by the Buyer, the Buyer used the cost of such
securities to the Buyer and did not include any of the securities referred
to in
the preceding paragraph, except (i) where the Buyer reports its securities
holdings in its financial statements on the basis of their market value, and
(ii) no current information with respect to the cost of those securities
has been published. If clause (ii) in the preceding sentence
applies, the securities may be valued at market. Further, in
determining such aggregate amount, the Buyer may have included securities owned
by subsidiaries of the Buyer, but only if such subsidiaries are consolidated
with the Buyer in its financial statements prepared in accordance with generally
accepted accounting principles and if the investments of such subsidiaries
are
managed under the Buyer’s direction. However, such securities were
not included if the Buyer is a majority-owned, consolidated subsidiary of
another enterprise and the Buyer is not itself a reporting company under the
Securities Exchange Act of 1934, as amended.
5. The
Buyer acknowledges that it is familiar with Rule 144A and understands that
the
seller to it and other parties related to the Certificates are relying and
will
continue to rely on the statements made herein because one or more sales to
the
Buyer may be in reliance on Rule 144A.
6. Until
the date of purchase of the Rule 144A Securities, the Buyer will notify each
of
the parties to which this certification is made of any changes in the
information and conclusions herein. Until such notice is given, the
Buyer’s purchase of the Certificates will constitute a reaffirmation of this
certification as of the date of such purchase. In addition, if the
Buyer is a bank or savings and loan is provided above, the Buyer agrees that
it
will furnish to such parties updated annual financial statements promptly after
they become available.
Print Name of Buyer | |||
|
By:
|
||
Name: | |||
Title: | |||
Date: |
ANNEX
2
to
EXHIBIT K
QUALIFIED
INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
(For
Transferees That are Registered Investment Companies)
The
undersigned (the “Buyer”) hereby certifies as follows to the parties
listed in the Rule 144A Transferee Certificate to which this certification
relates with respect to the Certificates described therein:
1. As
indicated below, the undersigned is the President, Chief Financial Officer
or
Senior Vice President of the Buyer or, if the Buyer is a “qualified
institutional buyer” as that term is defined in Rule 144A under the Securities
Act of 1933, as amended (“Rule 144A”), because Buyer is part of a Family
of Investment Companies (as defined below), is such an officer of the
Adviser.
2. In
connection with purchases by Buyer, the Buyer is a “qualified institutional
buyer” as defined in SEC Rule 144A because (i) the Buyer is an investment
company registered under the Investment Company Act of 1940, as amended and
(ii) as marked below, the Buyer alone, or the Buyer’s Family of Investment
Companies, owned at least $100,000,000 in securities (other than the excluded
securities referred to below) as of the end of the Buyer’s most recent fiscal
year. For purposes of determining the amount of securities owned by
the Buyer or the Buyer’s Family of Investment Companies, the cost of such
securities was used, except (i) where the Buyer or the Buyer’s Family of
Investment Companies reports its securities holdings in its financial statements
on the basis of their market value, and (ii) no current information with
respect to the cost of those securities has been published. If clause
(ii) in the preceding sentence applies, the securities may be valued at
market.
___
The
Buyer owned $_______ in securities (other than the excluded securities referred
to below) as of the end of the Buyer’s most recent fiscal year (such amount
being calculated in accordance with Rule 144A).
___
The
Buyer is part of a Family of Investment Companies which owned in the aggregate
$_______ in securities (other than the excluded securities referred to below)
as
of the end of the Buyer’s most recent fiscal year (such amount being calculated
in accordance with Rule 144A).
3. The
term “Family of Investment Companies” as used herein means two or more
registered investment companies (or series thereof) that have the same
investment adviser or investment advisers that are affiliated (by virtue of
being majority owned subsidiaries of the same parent or because one investment
adviser is a majority owned subsidiary of the other).
4. The
term “securities” as used herein does not include (i) securities of
issuers that are affiliated with the Buyer or are part of the Buyer’s Family of
Investment Companies, (ii) securities issued or guaranteed by the U.S. or
any instrumentality thereof, (iii) bank deposit notes and certificates of
deposit, (iv) loan participations, (v) repurchase agreements,
(vi) securities owned but subject to a repurchase agreement and
(vii) currency, interest rate and commodity swaps.
5. The
Buyer is familiar with Rule 144A and understands that the parties listed in
the
Rule 144A Transferee Certificate to which this certification relates are relying
and will continue to rely on the statements made herein because one or more
sales to the Buyer will be in reliance on Rule 144A. In addition, the
Buyer will only purchase for the Buyer’s own account.
6. Until
the date of purchase of the Certificates, the undersigned will notify the
parties listed in the Rule 144A Transferee Certificate to which this
certification relates of any changes in the information and conclusions
herein. Until such notice is given, the Buyer’s purchase of the
Certificates will constitute a reaffirmation of this certification by the
undersigned as of the date of such purchase.
Print Name of Buyer or Adviser | |||
|
By:
|
||
Name: | |||
Title: |
IF AN ADVISER: | |||
Print Name of Buyer | |||
|
|
||
Date: |
EXHIBIT
L
FORM
OF
REQUEST FOR RELEASE OF DOCUMENTS
To: Xxxxx
Fargo Bank, N.A.
0000
00xx Xxxxxx X.X.
Xxxxxxxxxxx,
XX 00000-0000
Attn: Inventory
Control—MALT 2007-HF1
|
Re:
|
Pooling
and Servicing Agreement, dated as of September 1, 2007, by and among
Mortgage Asset Securitization Transactions, Inc., as depositor, UBS
Real
Estate Securities Inc., as transferor, Xxxxx Fargo Bank, N.A., as
master
servicer, as trust administrator, as custodian, and as credit risk
manager, and U.S. Bank National Association, as
trustee.
|
In
connection with the administration
of the related Mortgage Loans held by you as Custodian pursuant to the
above-captioned Pooling and Servicing Agreement, we request the release, and
hereby acknowledge receipt, of the Mortgage File for the Mortgage Loan described
below, for the reason indicated. If such Mortgage Loan is being
repurchased, we hereby certify that the Purchase Price for such Mortgage Loan
has been paid.
Mortgage
Loan Number:
Mortgagor
Name, Address & Zip Code:
Reason
for Requesting Documents (check one):
_______ 1. Mortgage
Paid in Full
_______ 2. Foreclosure
_______ 3. Substitution
_______ 4. Other
Liquidation (Repurchases, etc.)
_______ 5. Nonliquidation
Reason:____________________________________
Address
to which Custodian should
Deliver
the Mortgage File:
__________________________________________
__________________________________________
__________________________________________
By:_______________________________________
(authorized
signer)
Issuer:_____________________________________
Address:___________________________________
___________________________________
Date:______________________________________
Custodian
Xxxxx
Fargo Bank, N.A.
Please
acknowledge the execution of the above request by your signature and date
below:
____________________________________ _________________
Signature Date
Documents
returned to Custodian:
____________________________________ _________________
Custodian
Date
EXHIBIT
M
[RESERVED]
EXHIBIT
N
[RESERVED]
EXHIBIT
O
[RESERVED]
EXHIBIT
P
[RESERVED]
EXHIBIT
Q
FORM
OF
ASSESSMENT OF COMPLIANCE
[Name
of
Trust] (the “Trust”)
Mortgage
Pass-Through Certificates
Series
20[__]-[__]
I,
[name
of certifying individual], a duly elected and acting officer of
[__________________________] (the “Assessing Party”), certify pursuant to
Section 3.22 of the Pooling and Servicing Agreement to the Depositor, [the
Trust
Administrator] and each Person, if any, who “controls” the Depositor [or the
Trust Administrator] within the meaning of the Securities Act of 1933, as
amended, and their respective officers and directors, with respect to the
calendar year immediately preceding the date of this Certificate (the “Relevant
Year”), as follows:
1. I
am responsible for assessing compliance with the Servicing Criteria applicable
to the Assessing Party during the Relevant Year. For purposes of this
assessment, I have used the Servicing Criteria as set for in Item 1122 of
Regulation AB.
2. Based
on my knowledge, the Assessing Party was in compliance with the Servicing
Criteria applicable to the Assessing Party during the Relevant Year other than
[state any material instance of noncompliance with respect thereto during such
period]. This assessment is based on the activities the Assessing
Party performs with respect to asset-backed securities transactions taken as
a
whole involving the Assessing Party, that are backed by the same asset type
as
the related Loans serviced by it.
3. Based
on the activities the Assessing Party performs with respect to asset-backed
securities transactions taken as a whole involving the Assessing Party, that
are
backed by the same asset type as the related Mortgage Loans serviced by it,
the
following Servicing Criteria are not applicable to the Assessing Party:
[____________].
4. A
registered public accounting firm has issued an attestation report on the
Assessing Party’s assessment of compliance for the period consisting of Relevant
Year.
Capitalized
terms used but not defined herein have the meanings assigned in the pooling
and
servicing agreement dated as of September 1, 2007 (the “Pooling and Servicing
Agreement”) among Mortgage Asset Securitization Transactions, Inc., as
depositor, UBS Real Estate Securities Inc., as transferor, Xxxxx Fargo Bank,
N.A., as master servicer, trust administrator, as custodian, and as credit
risk
manager, and U.S. Bank National Association, as trustee.
[__________________], | |||
as Assessing Party | |||
|
By:
|
||
[Name] | |||
[Title] | |||
[Date] |
EXHIBIT
R
[RESERVED]
EXHIBIT
S
ADDITIONAL
DISCLOSURE NOTIFICATION*
Xxxxx
Fargo Bank, N.A., as Trust Administrator
0000
Xxx
Xxxxxxxxx Xxxx
Xxxxxxxx,
Xxxxxxxx 00000
Attn: Corporate
Trust Services- MASTR ALTERNATIVE LOAN TRUST 2007-HF1—SEC REPORT
PROCESSING
[Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000]
RE: Additional
Form [10-D][10-K][8-K] Disclosure Required
Ladies
and
Gentlemen:
In
accordance with Section [ ] of the Pooling and Servicing Agreement, dated as
of
September 1, 2007, among Mortgage Asset Securitization Transactions, Inc.,
as
Depositor, UBS Real Estate Securities Inc., as Transferor, Xxxxx Fargo Bank
N.A., as Master Servicer, Trust Administrator, Custodian and Credit Risk Manager
and U.S. Bank National Association, as Trustee, the undersigned, as
[ ], hereby notifies
you that certain events have come to our attention that [will] [may] need to
be
disclosed on Form [10-D][10-K][8-K].
Description
of Additional Form [10-D][10-K][8-K] Disclosure:
List
of any Attachments hereto to be included in the Additional Form
[10-D][10-K][8-K] Disclosure:
Any
inquiries related to this notification should be directed to
[ ],
phone
number: [ ];
email
address: [ ].
[NAME OF PARTY], | |||
as [role] | |||
|
By:
|
||
Name: | |||
Title: |
* To
be sent via email to xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx
and by facsimile to 000-000-0000 in addition to overnight mail to the address
above.
EXHIBIT
T
ADDITIONAL
FORM 10-D DISCLOSURE
ADDITIONAL
FORM 10-D DISCLOSURE
|
|
Item
on Form 10-D
|
Party
Responsible
|
Item
1: Distribution and Pool Performance Information
|
|
Information
included in the [Monthly Statement]
|
Master
Servicer
Servicer
Trust
Administrator
|
Any
information required by 1121 which is NOT included on the [Monthly
Statement]
|
Depositor
|
Item
2: Legal Proceedings
Any
legal proceeding pending against the following entities or their
respective property, that is material to Certificateholders, including
any
proceeding known to be contemplated by governmental
authorities:
|
|
▪
Issuing Entity (Trust Fund)
|
Trustee,
Master Servicer, Trust Administrator and Depositor
|
▪
Sponsor (Seller)
|
Seller
(if a party to the Pooling and Servicing Agreement) or
Depositor
|
▪
Depositor
|
Depositor
|
▪
Trustee
|
Trustee
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Master Servicer
|
Master
Servicer
|
▪
Custodian
|
Custodian
|
▪
1110(b) Originator
|
Depositor
|
▪
Any 1108(a)(2) Servicer (other than the Master Servicer or Trust
Administrator)
|
Servicer
|
▪
Any other party contemplated by 1100(d)(1)
|
Depositor
|
Item
3: Sale of Securities and Use of Proceeds
Information
from Item 2(a) of Part II of Form 10-Q:
With
respect to any sale of securities by the sponsor, depositor or issuing
entity, that are backed by the same asset pool or are otherwise issued
by
the issuing entity, whether or not registered, provide the sales
and use
of proceeds information in Item 701 of Regulation S-K. Pricing
information can be omitted if securities were not
registered.
|
Depositor
|
Item
4: Defaults Upon Senior Securities
Information
from Item 3 of Part II of Form 10-Q:
Report
the occurrence of any Event of Default (after expiration of any grace
period and provision of any required notice)
|
Trust
Administrator
Trustee
|
Item
5: Submission of Matters to a Vote of Security
Holders
Information
from Item 4 of Part II of Form 10-Q
|
Trust
Administrator
Trustee
|
Item
6: Significant Obligors of Pool Assets
Item
1112(b) –Significant Obligor Financial
Information*
|
Depositor
|
*This
information need only be reported on the Form 10-D for the distribution
period in which updated information is required pursuant to the
Item.
|
|
Item
7: Significant Enhancement Provider
Information
Item
1114(b)(2) – Credit Enhancement Provider Financial
Information*
|
|
▪
Determining applicable disclosure threshold
|
Depositor
|
▪
Requesting required financial information (including any required
accountants’ consent to the use thereof) or effecting incorporation by
reference
|
Depositor
|
Item
1115(b) – Derivative Counterparty Financial
Information*
|
|
▪
Determining current maximum probable exposure
|
Depositor
|
▪
Determining current significance percentage
|
Depositor
|
▪
Requesting required financial information (including any required
accountants’ consent to the use thereof) or effecting incorporation by
reference
|
Depositor
|
*This
information need only be reported on the Form 10-D for the distribution
period in which updated information is required pursuant to the
Items.
|
|
Item
8: Other Information
Disclose
any information required to be reported on Form 8-K during the period
covered
by the Form 10-D but not reported
|
Any
party responsible for the applicable Form 8-K Disclosure
item
|
Item
9: Exhibits
|
|
Monthly
Statement to Certificateholders
|
Trust
Administrator
|
Exhibits
required by Item 601 of Regulation S-K, such as material
agreements
|
Depositor
|
EXHIBIT
U
ADDITIONAL
FORM 10-K DISCLOSURE
ADDITIONAL
FORM 10-K DISCLOSURE
|
|
Item
on Form 10-K
|
Party
Responsible
|
Item
1B: Unresolved Staff Commentse
|
Depositor
|
Item
9B: Other Information
Disclose
any information required to be reported on Form 8-K during the fourth
quarter covered by the Form 10-K but not reported
|
Any
party responsible for disclosure items on Form 8-K
|
Item
15: Exhibits, Financial Statement
Schedules
|
Trust
Administrator
Depositor
|
Reg
AB Item 1112(b): Significant Obligors of Pool
Assets
|
|
Significant
Obligor Financial Information*
|
Depositor
|
*This
information need only be reported on the Form 10-K if updated information
is required pursuant to the Item.
|
|
Reg
AB Item 1114(b)(2): Credit Enhancement Provider Financial
Information
|
|
▪
Determining applicable disclosure threshold
|
Depositor
|
▪
Requesting required financial information (including any required
accountants’ consent to the use thereof) or effecting incorporation by
reference
|
Depositor
|
*This
information need only be reported on the Form 10-K if updated information
is required pursuant to the Item.
|
|
Reg
AB Item 1115(b): Derivative Counterparty Financial
Information
|
|
▪
Determining current maximum probable exposure
|
Depositor
|
▪
Determining current significance percentage
|
Depositor
|
▪
Requesting required financial information (including any required
accountants’ consent to the use thereof) or effecting incorporation by
reference
|
Depositor
|
*This
information need only be reported on the Form 10-K if updated information
is required pursuant to the Item.
|
|
Reg
AB Item 1117: Legal Proceedings
Any
legal proceeding pending against the following entities or their
respective property, that is material to Certificateholders, including
any
proceeding known to be contemplated by governmental
authorities:
|
|
▪
Issuing Entity (Trust Fund)
|
Trustee,
Master Servicer, Trust Administrator and Depositor
|
▪
Sponsor (Seller)
|
Seller
(if a party to the Pooling and Servicing Agreement) or
Depositor
|
▪
Depositor
|
Depositor
|
▪
Trustee
|
Trustee
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Master Servicer
|
Master
Servicer
|
▪
Custodian
|
Custodian
|
▪
1110(b) Originator
|
Depositor
|
▪
Any 1108(a)(2) Servicer (other than the Master Servicer or Trust
Administrator)
|
Servicer
|
▪
Any other party contemplated by 1100(d)(1)
|
Depositor
|
Reg
AB Item 1119: Affiliations and
Relationships
|
|
Whether
(a) the Sponsor (Seller), Depositor or Issuing Entity is an affiliate
of
the following parties, and (b) to the extent known and material,
any of
the following parties are affiliated with one another:
|
Depositor
as to (a)
Sponsor/Seller
as to (a)
|
▪
Master Servicer
|
Master
Servicer
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Trustee
|
Trustee
|
▪
Any other 1108(a)(3) servicer
|
Servicer
|
▪
Any 1110 Originator
|
Depositor/Sponsor
|
▪
Any 1112(b) Significant Obligor
|
Depositor/Sponsor
|
▪
Any 1114 Credit Enhancement Provider
|
Depositor/Sponsor
|
▪
Any 1115 Derivate Counterparty Provider
|
Depositor/Sponsor
|
▪
Any other 1101(d)(1) material party
|
Depositor/Sponsor
|
Whether
there are any “outside the ordinary course business arrangements” other
than would be obtained in an arm’s length transaction between (a) the
Sponsor (Seller), Depositor or Issuing Entity on the one hand, and
(b) any
of the following parties (or their affiliates) on the other hand,
that
exist currently or within the past two years and that are material
to a
Certificateholder’s understanding of the Certificates:
|
Depositor
as to (a)
Sponsor/Seller
as to (a)
|
▪
Master Servicer
|
Master
Servicer
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Trustee
|
Trustee
|
▪
Any other 1108(a)(3) servicer
|
Servicer
|
▪
Any 1110 Originator
|
Depositor/Sponsor
|
▪
Any 1112(b) Significant Obligor
|
Depositor/Sponsor
|
▪
Any 1114 Credit Enhancement Provider
|
Depositor/Sponsor
|
▪
Any 1115 Derivate Counterparty Provider
|
Depositor/Sponsor
|
▪
Any other 1101(d)(1) material party
|
Depositor/Sponsor
|
Whether
there are any specific relationships involving the transaction or
the pool
assets between (a) the Sponsor (Seller), Depositor or Issuing Entity
on
the one hand, and (b) any of the following parties (or their affiliates)
on the other hand, that exist currently or within the past two years
and
that are material:
|
Depositor
as to (a)
Sponsor/Seller
as to (a)
|
▪
Master Servicer
|
Master
Servicer
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Trustee
|
Trustee
|
▪
Any other 1108(a)(3) servicer
|
Servicer
|
▪
Any 1110 Originator
|
Depositor/Sponsor
|
▪
Any 1112(b) Significant Obligor
|
Depositor/Sponsor
|
▪
Any 1114 Credit Enhancement Provider
|
Depositor/Sponsor
|
▪
Any 1115 Derivate Counterparty Provider
|
Depositor/Sponsor
|
▪
Any other 1101(d)(1) material party
|
Depositor/Sponsor
|
EXHIBIT
V
FORM
8-K
DISCLOSURE INFORMATION
FORM
8-K DISCLOSURE INFORMATION
|
|
Item
on Form 8-K
|
Party
Responsible
|
Item
1.01- Entry into a Material Definitive Agreement
Disclosure
is required regarding entry into or amendment of any definitive agreement
that is material to the securitization, even if depositor is not
a
party.
Examples:
servicing agreement, custodial agreement.
Note:
disclosure not required as to definitive agreements that are fully
disclosed in the prospectus
|
All
parties with respect to any agreement entered into by such
party
|
Item
1.02- Termination of a Material Definitive Agreement
Disclosure
is required regarding termination of any definitive agreement
that is material to the securitization (other than expiration in
accordance with its terms), even if depositor is not a party.
Examples:
servicing agreement, custodial agreement.
|
All
parties with respect to any agreement entered into by such
party
|
Item
1.03- Bankruptcy or Receivership
Disclosure
is required regarding the bankruptcy or receivership, with respect
to any
of the following:
|
Depositor
|
▪
Sponsor (Seller)
|
Depositor/Sponsor
(Seller)
|
▪
Depositor
|
Depositor
|
▪
Master Servicer
|
Master
Servicer
|
▪
Affiliated Servicer
|
Servicer
|
▪
Other Servicer servicing 20% or more of the pool assets at the time
of the
report
|
Servicer
|
▪
Other material servicers
|
Servicer
|
▪
Trustee
|
Trustee
|
▪
Trust Administrator
|
Trust
Administrator
|
▪
Significant Obligor
|
Depositor
|
▪
Credit Enhancer (10% or more)
|
Depositor
|
▪
Derivative Counterparty
|
Depositor
|
▪
Custodian
|
Custodian
|
Item
2.04- Triggering Events that Accelerate or Increase a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet
Arrangement
Includes
an early amortization, performance trigger or other event, including
event
of default, that would materially alter the payment priority/distribution
of cash flows/amortization schedule.
Disclosure
will be made of events other than waterfall triggers which are disclosed
in the monthly statements to the certificateholders.
|
Depositor
Master
Servicer
Trust
Administrator
|
Item
3.03- Material Modification to Rights of Security
Holders
Disclosure
is required of any material modification to document defining the
rights
of Certificateholders, including the Pooling and Servicing
Agreement.
|
Trust
Administrator/Trustee/Depositor (with respect to each, only to the
extent
it is a party to any such documents)
|
Item
5.03- Amendments of Articles of Incorporation or Bylaws; Change of
Fiscal
Year
Disclosure
is required of any amendment “to the governing documents of the issuing
entity”.
|
Depositor
|
Item
6.01- ABS Informational and Computational Material
|
Depositor
|
Item
6.02- Change of Servicer or Trust Administrator
Requires
disclosure of any removal, replacement, substitution or addition
of any
master servicer, affiliated servicer, other servicer servicing 10%
or more
of pool assets at time of report, other material servicers or
trustee.
|
Master
Servicer/Trust Administrator/Depositor/
Servicer
Trustee
(as to itself or the Master Servicer)
|
Reg
AB disclosure about any new servicer or master servicer is also
required.
|
Servicer/Master
Servicer/Depositor
|
Reg
AB disclosure about any new Trustee is also required.
|
Trustee
|
Item
6.03- Change in Credit Enhancement or External
Support
Covers
termination of any enhancement in manner other than by its terms,
the
addition of an enhancement, or a material change in the enhancement
provided. Applies to external credit enhancements as well as
derivatives.
|
Depositor/Trust
Administrator
|
Reg
AB disclosure about any new enhancement provider is also
required.
|
Depositor
|
Item
6.04- Failure to Make a Required Distribution
|
Trust
Administrator
|
Item
6.05- Securities Act Updating Disclosure
If
any material pool characteristic differs by 5% or more at the time
of
issuance of the securities from the description in the final prospectus,
provide updated Reg AB disclosure about the actual asset
pool.
|
Depositor
|
If
there are any new servicers or originators required to be disclosed
under
Regulation AB as a result of the foregoing, provide the information
called
for in Items 1108 and 1110 respectively.
|
Depositor
|
Item
7.01- Reg FD Disclosure
|
All
parties as to material nonpublic information disclosed by such
party
|
Item
8.01- Other Events
Any
event, with respect to which information is not otherwise called
for in
Form 8-K, that the registrant deems of importance to
certificateholders.
|
Depositor
|
Item
9.01- Financial Statements and Exhibits
|
Responsible
party for reporting/disclosing the financial statement or
exhibit
|
EXHIBIT
W
FORM
OF
XXXXXXXX-XXXXX CERTIFICATION
Re: The
[ ]
agreement dated as of
[ l,
200[ ] (the “Agreement”), among [IDENTIFY PARTIES]
I,
____________________________, the _______________________ of [NAME OF COMPANY]
(the “Company”), certify to [the Purchaser], [the Depositor], and the [Master
Servicer] [Trust Administrator], and their officers, with the knowledge and
intent that they will rely upon this certification, that:
a. I
have
reviewed the servicer compliance statement of the Company provided in accordance
with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
assessment of the Company’s compliance with the servicing criteria set forth in
Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
(the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
Assessment”), the registered public accounting firm’s attestation report
provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
and
Section 1122(b) of Regulation AB (the “Attestation Report”), and all servicing
reports, officer’s certificates and other information relating to the servicing
of the Mortgage Loans by the Company during 200[ ] that were delivered by the
Company to the [Depositor] [Master Servicer] [Trust Administrator] pursuant
to
the Agreement (collectively, the “Company Servicing Information”);
b. Based
on
my knowledge, the Company Servicing Information, taken as a whole, does not
contain any untrue statement of a material fact or omit to state a material
fact
necessary to make the statements made, in the light of the circumstances under
which such statements were made, not misleading with respect to the period
of
time covered by the Company Servicing Information;
c. Based
on
my knowledge, all of the Company Servicing Information required to be provided
by the Company under the Agreement has been provided to the [Depositor] [Master
Servicer] [Trust Administrator];
d. I
am
responsible for reviewing the activities performed by the Company as servicer
under the Agreement, and based on my knowledge and the compliance review
conducted in preparing the Compliance Statement and except as disclosed in
the
Compliance Statement, the Servicing Assessment or the Attestation Report, the
Company has fulfilled its obligations under the Agreement in all material
respects; and
e. The
Compliance Statement required to be delivered by the Company pursuant to this
Agreement, and the Servicing Assessment and Attestation Report required to
be
provided by the Company and by any Subservicer and Subcontractor pursuant to
the
Agreement, have been provided to the [Depositor] [Master
Servicer]. Any material instances of noncompliance described in such
reports have been disclosed to the [Depositor] [Master Servicer]. Any material
instance of noncompliance with the Servicing Criteria has been disclosed in
such
reports.
Date: _________________________
|
|
By:
___________________________
|
|
Name:
|
|
Title:
|
|
EXHIBIT
X
Assessments
of Compliance and Attestation Reports Servicing Criteria*
Reg.
AB Item 1122(d) Servicing Criteria
|
Servicer
|
Trustee
|
Custodian/
Paying
Agent/
Master
Servicer/
Trust
Administrator
|
General
Servicing Considerations
|
|||
monitoring
performance or other triggers and events of default
|
X
|
X
|
|
monitoring
performance of vendors of activities outsourced
|
X
|
X
|
|
maintenance
of back-up servicer for pool assets
|
X
|
||
fidelity
bond and E&O policies in effect
|
X
|
X
|
|
Cash
Collection and Administration
|
|||
timing
of deposits to custodial account
|
X
|
X
|
|
wire
transfers to investors by authorized personnel
|
X
|
X
|
|
advances
or guarantees made, reviewed and approved as required
|
X
|
X
|
|
accounts
maintained as required
|
X
|
X
|
|
accounts
at federally insured depository institutions
|
X
|
X
|
|
unissued
checks safeguarded
|
X
|
X
|
|
monthly
reconciliations of accounts
|
X
|
X
|
|
Investor
Remittances and Reporting
|
|||
investor
reports
|
X
|
X
|
|
remittances
|
X
|
X
|
|
proper
posting of distributions
|
X
|
X
|
|
reconciliation
of remittances and payment statements
|
X
|
X
|
|
Pool
Asset Administration
|
|||
maintenance
of pool collateral
|
X
|
X
|
|
safeguarding
of pool assets/documents
|
X
|
X
|
|
additions,
removals and substitutions of pool assets
|
X
|
||
posting
and allocation of pool asset payments to pool assets
|
X
|
||
reconciliation
of servicer records
|
X
|
||
modifications
or other changes to terms of pool assets
|
X
|
||
loss
mitigation and recovery actions
|
X
|
||
records
regarding collection efforts
|
X
|
||
adjustments
to variable interest rates on pool assets
|
X
|
||
matters
relating to funds held in trust for obligors
|
X
|
||
payments
made on behalf of obligors (such as for taxes or
insurance)
|
X
|
||
late
payment penalties with respect to payments made on behalf of
obligors
|
X
|
||
records
with respect to payments made on behalf of obligors
|
X
|
||
recognition
and recording of delinquencies, charge-offs and uncollectible
accounts
|
X
|
X
|
|
maintenance
of external credit enhancement or other support
|
EXHIBIT
Y
FORM
OF ASSIGNMENT, ASSUMPTION AND
RECOGNITION AGREEMENTS
ASSIGNMENT,
ASSUMPTION AND RECOGNITION AGREEMENT
THIS
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this “Agreement”) dated
as of September 1, 2007, among UBS Real Estate Securities Inc., a Delaware
corporation (the “Assignor” or the “Purchaser”), Mortgage Asset
Securitization Transactions, Inc. (the “Assignee”) and Bank of America,
National Association (the
“Company”).
In
consideration of mutual promises contained herein, the parties hereto agree
that
those certain mortgage loans (the “Assigned Loans”) listed on Attachment
1 hereto (the “Assigned Loan Schedule”), and, solely with respect to the
servicing provisions as they relate to the Assigned Loans (as specified in
Section 1.02 below), that certain Flow Mortgage Loan Sale and Servicing
Agreement, dated as of April 1, 2005, as amended, between the Assignor and
the
Company (the “Servicing Agreement”), shall be assigned to Assignee in
accordance with the terms of this Agreement. For purposes of this
Agreement, the term “Servicing Agreement” includes any separate xxxx of sale,
letter, assignment and conveyance or other instrument pursuant to which Company
and Assignor effectuated the purchase and sale of any Mortgage Loan following
the execution and delivery of the Servicing Agreement. Capitalized
terms used herein but not defined shall have the meaning ascribed to them in
the
Servicing Agreement.
Section
1.01 Assignor
hereby conveys, sells, grants, transfers and assigns to Assignee all of the
right, title and interest (other than those rights specifically retained by
the
Assignor pursuant to this Agreement) of Assignor in the Assigned Loans and,
as
they relate to the Assigned Loans, all of its right, title and interest in,
to
and under the Servicing Agreement, solely with respect to the servicing
provisions thereof as they relate to the Assigned Loans (as specified in Section
1.02 below). Assignor specifically reserves and does not assign to
Assignee any right, title and interest in, to or under or any obligation with
respect to any mortgage loans subject to the Servicing Agreement other than
those specifically set forth on Attachment 1 hereto.
Section
1.02 The
Assignor specifically reserves and does not assign to the Assignee hereunder
those rights under the Servicing Agreement that do not relate to the servicing
of the Assigned Loans. The Assignor and the Assignee desire that the
Company continue to service the Assigned Loans in accordance with the Servicing
Agreement and the Company has agreed to do so.
Section
2.01 Company
warrants and represents to, and covenants with, Assignor and Assignee as of
the
date hereof:
(i) Attached
hereto as Attachment 2 is a true and accurate copy of the Servicing
Agreement, and the Servicing Agreement is in full force and effect as of the
date hereof and its provisions have not been waived, further amended or modified
in any respect, nor has any notice of termination been given
thereunder;
(ii) Company
is a national banking association, validly existing and in good standing under
the laws of the United States, and has all requisite power and authority to
perform its obligations under the Servicing Agreement;
(iii) Company
has full power and authority to execute and deliver this Agreement, and to
consummate the transactions set forth herein. The consummation of the
transactions contemplated by this Agreement is in the ordinary course of
Company’s business and will not conflict with, or result in a breach of, any of
the terms, conditions or provisions of Company’s articles of incorporation or
by-laws or any legal restriction, or any material agreement or instrument to
which Company is now a party or by which it is bound, or result in the violation
of any law, rule, regulation, order, judgment or decree to which Company or
its
property is subject. The execution, delivery and performance by
Company of this Agreement and the consummation by it of the transactions
contemplated hereby, have been duly authorized by all necessary action on the
part of Company. This Agreement has been duly executed and delivered
by Company, and, upon the due authorization, execution and delivery by Assignor
and Assignee, will constitute the valid and legally binding obligation of
Company, enforceable against Company in accordance with its terms except as
enforceability may be limited by the effect of bankruptcy, insolvency or
reorganization;
(iv) No
consent, approval, order or authorization of, or declaration, filing or
registration with, any governmental entity is required to be obtained or made
by
Company in connection with the execution, delivery or performance by Company
of
this Agreement, or the consummation by it of the transactions contemplated
hereby;
(v) There
is
no action, suit, proceeding or investigation pending or threatened against
the
Company, before any court, administrative agency or other tribunal, which would
draw into question the validity of this Agreement or the Servicing Agreement,
or
which, either in any one instance or in the aggregate, would result in any
material adverse change in the ability of the Company to perform its obligations
under this Agreement or the Servicing Agreement. The Company is
solvent; and
(vi) The
Company agrees to make all the representations and warranties regarding the
Company set forth in Subsection 7.02 of the Servicing Agreement as of the date
hereof.
Section
2.02 The
Company hereby recognizes that the Assigned Loans will be transferred by the
Assignee to U.S. Bank National Association, as Trustee for the holders of MASTR
Alternative Loan Trust 2007-HF1 (including its successors in interest and any
successor trustee under the Pooling Agreement defined below, the
“Trustee”) in a securitization transaction pursuant to a Pooling and
Servicing Agreement, dated as of September 1, 2007 (the “Pooling
Agreement”), among the Assignee, the Assignor, the Trustee and Xxxxx Fargo
Bank, N.A., as master servicer (the “Master Servicer”), trust
administrator (the “Trust Administrator”), custodian (the
“Custodian”) and as credit risk manager (the “Credit Risk
Manager”). From and after the date hereof, the Company
acknowledges and agrees that (A) the Trustee will be the owner of the
Assigned Loans on behalf of MASTR Alternative Loan Trust 2007-HF1 (the
“Trust”), and Xxxxx Fargo Bank, N.A., will be the Master Servicer, Trust
Administrator and Custodian of the Assigned Loans, (B) the Company shall
look solely to the Trustee and the Trust Administrator, on behalf of the Trust,
for performance of any obligations of the Assignor insofar as they relate to
the
Assigned Loans, (C) the Assigned Loans will be part of a “real estate
mortgage investment conduit” within the meaning of Section 860D of the Code (the
“REMIC”), and the Company shall service the Assigned Loans and any real
property acquired upon default thereof (including, without limitation, making
or
permitting any modification, waiver or amendment of any term of any Mortgage
Loan) in accordance with the Servicing Agreement but in no event in a manner
that would (i) cause the REMIC to fail to qualify as a REMIC or
(ii) result in the imposition of a tax upon the REMIC (including but not
limited to the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code, the tax on contributions to a REMIC set forth in Section 860G(d)
of
the Code, and the tax on “net income from foreclosure property” as set forth in
Section 860G(c) of the Code), and (D) if any Mortgage has been recorded in
the
name of MERS or its designee, the Company shall take all actions as are
necessary to cause MASTR Alternative Loan Trust 2007-HF1 to be shown as the
owner of the related Assigned Loan on the record of MERS for the purpose of
the
system of recording transfers of beneficial ownership of mortgage maintained
by
MERS. It is the intention of the Assignor, the Company and the
Assignee that this Agreement shall be binding upon and for the benefit of the
respective successors and assigns of the parties hereto. 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 Servicing Agreement which
amendment, modification, waiver or other alteration would in any way affect
the
Assigned Loans without the prior written consent of the Trustee.
Section
3.01 Assignor
hereby covenants to promptly deliver to the Assignee or its designee any
Assigned Loan document received by the Assignor from the Company with respect
to
the Assigned Loans.
Section
3.02 The
parties hereto acknowledge that Assignee will acquire the Assigned Loans for
the
purpose of assigning such Assigned Loans to the Trustee for the Trust, for
the
benefit of the related certificateholders on the date
hereof. Assignor and Company hereby acknowledge and consent to the
assignment by Assignee to the Trustee, on behalf of the Trust of all of
Assignee’s rights against the Company and to the enforcement or exercise of any
right or remedy against the Company by Assignee. Such enforcement of
a right or remedy by the Trustee, on behalf of the Trust, shall have the same
force and effect as if the right or remedy had been enforced or exercised by
Assignee directly.
Section
3.03 Only
insofar as it relates to the Assigned Loans, the parties hereto hereby amend
the
Servicing Agreement as follows:
(i) The
following definitions are added to Section 1 of the Servicing
Agreement:
Annual
Independent Public Accountants’ Servicing Report: A report of a
firm of independent public accountants which is a member of the American
Institute of Certified Public Accountants to the effect that such firm has
examined certain documents and records relating to the servicing of the Mortgage
Loans or mortgage loans similar in nature to the Mortgage Loans by the Company
and that such firm is of the opinion that the provisions of this Agreement
or
similar servicing agreements have been complied with, and that, on the basis
of
such examination conducted substantially in compliance with the Uniform Single
Attestation Program for Mortgage Bankers, nothing has come to the attention
of
such firm which would indicate that such servicing has not been conducted in
compliance therewith, except (i) such exceptions such firm shall believe to
be
immaterial, and (ii) such other exceptions as shall be set forth in such
report. No Annual Independent Public Accountants’ Servicing Report
shall contain any provision restricting the use of such report by the Company,
including any prohibition on the inclusion of any such report in any filing
with
the Commission.
Business
Day: Any day other than a Saturday or Sunday, or a day on which banking and
savings and loan institutions in the States of New York, California, Minnesota,
Maryland or Virginia are authorized or obligated by law or executive order
to be
closed.
Eligible
Account: Any
of (i) an account or accounts maintained with a federal or state chartered
depository institution or trust company the short-term unsecured debt
obligations of which (or, in the case of a depository institution or trust
company that is the principal subsidiary of a holding company, the debt
obligations of such holding company) have the highest short-term ratings of
each
Rating Agency at the time any amounts are held on deposit therein; provided,
that following a downgrade, withdrawal, or suspension of such institution's
rating above, each account shall promptly (and in any case within not more
than
30 calendar days) be moved to one or more segregated trust accounts in the
trust
department of such institution, or to an account at another institution that
complies with the above requirements, or (ii) a non-interest bearing segregated
trust account or accounts maintained with (a) the trust department of a
federal or state chartered depository institution or (b) a trust company,
acting in its fiduciary capacity or (iii) any other account acceptable to
each Rating Agency. Eligible Accounts may bear interest, and may
include, if otherwise qualified under this definition, accounts maintained
with
the Trustee. The rating requirements in clause (i) above may be
amended without the consent, provided that the Person requesting such amendment
obtains a letter from each Rating Agency stating that such amendment would
not
result in the downgrading or withdrawal of the respective ratings then assigned
to the Certificates.
NIM
Security: shall
mean any net interest margin security issued by an owner trust or special
purpose entity that is holding all rights, title and interest in and to the
Class P or Class C Certificates issued by the Trust Fund.
NIMS
Insurer: shall
mean collectively, any insurance companies issuing a financial guaranty
insurance policy covering certain payments to be made on NIM Securities pursuant
to a NIMS Transaction.
NIMS
Transaction: shall mean any
transaction in which NIM Securities are secured, in part, by the payments on
the
Class P or Class C Certificates issued by the Trust Fund.
(ii) Subsection
10.01 of the Servicing Agreement is hereby amended by replacing the fifth
paragraph of that section in its entirety with the following:
Notwithstanding
the foregoing, the
Servicer may waive, modify or vary any term of such Mortgage Loan (including,
but not limited to, modifications that would change the Mortgage Interest Rate,
forgive the payment of principal or interest or extend the final maturity date
of such Mortgage Loan, accept payment from the related Mortgagor of an amount
less than the Stated Principal Balance in final satisfaction of such Mortgage
Loan (such payment, a “Short Pay-off”) or consent to the postponement of strict
compliance with any such term or otherwise grant indulgence to any Mortgagor
only if (i) the Mortgage Loan is in default or, in the judgment of the Servicer,
such default is reasonably foreseeable and (ii) in the judgment of the Servicer,
any such modification, waiver or amendment could reasonably be expected to
result in collections and other recoveries in respect of such Mortgage Loans
in
excess of net Liquidation Proceeds that would be recovered upon the foreclosure
of, or other realization upon, such Mortgage Loan. Without limiting
the generality of the foregoing, the Servicer shall continue, and is hereby
authorized and empowered, to prepare, execute and deliver, all instruments
of
satisfaction or cancellation, or of partial or full release, discharge and
all
other comparable instruments, with respect to the Mortgage Loans and with
respect to the Mortgaged Properties. Promptly after the execution of
any modification of any Mortgage Loan pursuant to this Subsection 10.01, the
Servicer shall forward to the Master Servicer, to the Credit Risk Manager and
the NIMS Insurer, copies of any documents evidencing such
modification. Such notification of modifications shall be delivered
to the NIMS Insurer and marked “Urgent”. The Servicer shall forward
copies of such foregoing documentation in electronic format (or, upon request
of
either the Credit Risk Manager or the NIMS Insurer, in hard copy
format). In connection with the delivery of copies of such
documentation to the NIMS Insurer and the Credit Risk Manager, the Master
Servicer shall have no obligation to verify, recompute, reconcile, recalculate
or reformat any information or data provided therein prior to its delivery
to
the NIMS Insurer and the Credit Risk Manager and shall not have any liability
to
either the NIMS Insurer or the Credit Risk Manager for any errors or omissions
with respect to such documentation. The Credit Risk Manager shall not
have any liability to the NIMS Insurer for any errors or omissions with respect
to such documentation or for the failure of the Master Servicer or Servicer
to
provide such information in a timely manner. Notwithstanding anything
to the contrary contained in this Agreement, the Servicer shall not make or
permit any modification, waiver or amendment of any term of any Mortgage Loan
(including any Prepayment Charge due on any Mortgage Loan) that would cause
any
REMIC created under the Trust Agreement to fail to qualify as a REMIC or result
in the imposition of any tax under Section 860F(a) or Section 860G(d) of the
Code.
(iii) The
following phrase is added immediately following the second sentence of the
first
paragraph of Subsection 10.04 of the Servicing Agreement:
“and
such
Custodial Account shall also be an Eligible Account.”
(iv) Subsection
10.16 of the Servicing Agreement is hereby amended by replacing the first
paragraph of that section in its entirety with the following:
On
or
before the tenth calendar day of each month (or if such day is not a Business
Day, the immediately preceding Business Day), the Seller shall furnish to the
Master Servicer and the NIMS Insurer a delinquency report in the form set forth
in Exhibit 5-A, a monthly remittance advice in the form set forth in Exhibit
5-B, and a realized loss report in the form set forth in Exhibit 5-C, each
in a
mutually agreeable electronic format, as to the latest Due Period, together
with
such other information with respect to the Mortgage Loans as the Master Servicer
may reasonably require to allocate distributions made pursuant to this Agreement
and to provide appropriate statements in connection therewith.
(v) Subsection
10.19 of the Servicing Agreement is hereby deleted in its entirety and replaced
with “Reserved”.
(vi) Subsection
10.20 of the Servicing Agreement is hereby deleted in its entirety and replaced
with “Reserved”.
(vii) Subsection
32.04 of the Servicing Agreement is hereby deleted in its entirety and replaced
with the following:
On
or before March 1st of each
calendar
year, commencing in 2008, the Seller shall deliver to the Purchaser, any Master
Servicer and any Depositor a statement of compliance addressed to the Purchaser,
such Master Servicer and such Depositor and signed by an authorized officer
of
the Seller, to the effect that (i) a review of the Seller’s activities during
the immediately preceding calendar year (or applicable portion thereof) and
of
its performance under this Agreement and any applicable Reconstitution
Agreement during such period has been made under such officer’s supervision, and
(ii) to the best of such officers’ knowledge, based on such review, the Seller
has fulfilled all of its obligations under this Agreement and any applicable
Reconstitution Agreement in all material respects throughout such calendar
year
(or applicable portion thereof) or, if there has been a failure to fulfill
any
such obligation in any material respect, specifically identifying each such
failure known to such officer and the nature and the status
thereof.
(viii) Subsection
32.05 of the Servicing Agreement is hereby deleted in its entirety and replaced
with the following:
(a) On
or before March 1 of each calendar year, commencing in 2008, the Seller
shall:
(i) deliver
to the Purchaser, any Master Servicer and any Depositor a report (in form and
substance generally acceptable in the secondary market) regarding the Seller’s
assessment of compliance with the Servicing Criteria during the immediately
preceding calendar year, as required under Rules 13a-18 and 15d-18 of the
Exchange Act and Item 1122 of Regulation AB. Such report shall be addressed
to
the Purchaser, such Master Servicer and such Depositor and signed by an
authorized officer of the Seller, and shall address each of the “Applicable
Servicing Criteria” specified on Exhibit 9 hereto;
(ii) deliver
to the Purchaser, any Master Servicer and any Depositor a report of a registered
public accounting firm (in form and substance generally acceptable in the
secondary market) that attests to, and reports on, the assessment of compliance
made by the Seller and delivered pursuant to the preceding paragraph. Such
attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of
Regulation S-X under the Securities Act and the Exchange Act;
(iii) cause
each Subservicer, and each Subcontractor “participating in the servicing
function” within the meaning of Item 1122 of Regulation AB, to deliver to the
Purchaser, any Master Servicer and any Depositor an assessment of compliance
and
accountants’ attestation as and when provided in paragraphs (a) and (b) of this
Subsection 32.05 and, to the extent required of such Subservicer or
Subcontractor under Item 1123 of Regulation AB, an annual compliance certificate
as and when provided by Subsection 32.04; and
(iv) not
later than March 5th of the
calendar
year in which such certification is to be delivered, deliver, and cause each
Subservicer and each Subcontractor described in clause (iii) above to deliver,
to the Purchaser, any Depositor, any Master Servicer and any other Person that
will be responsible for signing the certification (a “Sarbanes Certification”)
required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant
to
Section 302 of the Xxxxxxxx-Xxxxx Act of 2002) on behalf of an asset-backed
issuer with respect to a Securitization a certification, signed by the
appropriate officer of the Seller, in the form attached hereto as Exhibit 8
(it
being understood that to the extent such certification is required to be
delivered hereunder and is delivered by the Seller in connection with a
Securitization, the Seller shall not be required to deliver the certification
required to be delivered pursuant to Section 11.24(b) of the Servicing
Addendum).
The
Seller acknowledges that the
parties identified in clause (a)(iv) above may rely on the certification
provided by the Seller pursuant to such clause in signing a Sarbanes
Certification and filing such with the Commission. None of the
Purchaser, any Master Servicer nor any Depositor will request delivery of a
certification under clause (a)(iv) above unless a Depositor or Master Servicer
is required under the Exchange Act to file an annual report on Form 10-K or
any
amendment thereto with respect to an issuing entity whose asset pool includes
Mortgage Loans.
(b) Each
assessment of compliance provided by a Subservicer pursuant to Subsection
32.05(a)(iii) shall address each of the Servicing Criteria specified on a
certification substantially in the form of Exhibit 9 hereto delivered to the
Purchaser concurrently with the execution of this Agreement or, in the case
of a
Subservicer subsequently appointed as such, on or prior to the date of such
appointment. An assessment of compliance provided by a Subcontractor pursuant
to
Subsection 32.05(a)(iii) need not address any elements of the Servicing Criteria
other than those specified by the Seller pursuant to Subsection
32.06.
(c) Notwithstanding
the foregoing provisions of this Subsection 32.05, (i) in the event that during
any calendar year (or applicable portion thereof) the Seller services 5% or
less
of the Mortgage Loans in the Securitization Transaction, as calculated by the
Master Servicer for such Securitization Transaction, or (ii) in any calendar
year in which an annual report on Form 10-K is not required to be filed with
respect to an issuing entity or Securitization Transaction, then, in each such
event, the Seller may, in lieu of providing an assessment of compliance and
attestation thereon in accordance with Item 1122 of Regulation AB, provide
(and
cause each Subservicer and Subcontractor described in clause (a)(iii) above
to
provide) to the Depositor and the Master Servicer for such Securitization
Transaction, by not later than March 1 of such calendar year, an Annual
Independent Public Accountants’ Servicing Report. If the Company
provides an Annual Independent Public Accountants’ Servicing Report pursuant to
this paragraph (c), then the certification required to be delivered by the
Seller (and its Subservicers and Subcontractors) shall be in the form of Exhibit
8A attached hereto instead of Exhibit 8.
(ix) Exhibit
5
to the Servicing Agreement is hereby deleted in its entirety and replaced by
new
Exhibits 5-A, 5-B and 5-C, substantially in the form of Attachment 3 to this
Agreement, or the same information in such other form as the Company and the
Master Servicer shall mutually agree.
(x) Exhibit
9
to the Servicing Agreement is hereby deleted in its entirety and replaced by
new
Exhibit 9, substantially in the form of Attachment 4 to this
Agreement.
(xi) Attachment
5 to this Agreement is hereby added to the Servicing Agreement as Exhibit
8A.
(xii) Subsection
12.01(h) of the Servicing Agreement is hereby deleted in its entirety and
replaced with “Reserved”.
Section
4.01 All
demands, notices and communications related to the Assigned Loans, the Servicing
Agreement and this Agreement shall be in writing and shall be deemed to have
been duly given if sent by facsimile or personally delivered or mailed by
registered mail, postage prepaid, as follows:
In
the
case of the Company,
Bank
of
America, National Association
000
Xxxxxxxxxx Xxxxxxx
Xxxxxxxxx,
Xxx Xxxx 00000-0000
Attention:
Xxxxxxx Xxxxx- Servicing Manager
Telephone:
000-000-0000
Facsimile: 000-000-0000
In
the
case of Assignee,
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000
Attention: Legal
Department
Telephone
No.: (000) 000-0000
In
the
case of Assignor,
UBS
Real
Estate Securities Inc.
1285
Avenue of the Xxxxxxxx, 00xx Xxxxx
Xxx
Xxxx,
XX 00000
Attention: Xxxxxxxxxxx
X. Xxxxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
In
the
case of the Trustee:
U.S.
Bank
National Association
EP-MN-WS3D
00
Xxxxxxxxxx Xxxxxx
Xx.
Xxxx,
Xxxxxxxxx 00000
Attention
Structured Finance/MALT 2007-HF1
Section
4.02 Distributions
required to be made by the Company under the Servicing Agreement shall be made
by wire transfer of immediately available funds to Xxxxx Fargo Bank, N.A.,
ABA
#000-000-000, for credit to SAS
Clearing; Account: 0000000000, for further credit to account
#00000000.
Applicable statements should be mailed to Xxxxx Fargo Bank, N.A., 0000 Xxx
Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000, Attn: Client Manager—MALT
2007-HF1.
Section
4.03
Each
party will pay any commissions it has incurred and the reasonable fees of its
attorneys in connection with the negotiations for, documenting of and closing
of
the transactions contemplated by this Agreement.
Section
4.04 Reserved.
Section
4.05 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.
Section
4.06 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, with prior consent of the Trustee
and
the NIMS Insurer.
Section
4.07 This
Agreement shall inure to the benefit of (i) the successors and assigns of
the parties hereto, (ii) the Trustee and (iii) the NIMS
Insurer. Any entity into which Assignor, Assignee or Company may be
merged or consolidated, to the extent permitted hereunder and under the
Servicing Agreement and the Pooling Agreement, shall, without the requirement
for any further writing, be deemed Assignor, Assignee or Company, respectively,
hereunder.
Section
4.08 Each
of this Agreement and the Servicing Agreement shall survive the conveyance
of
the Assigned Loans and the assignment of the Agreements to the extent of the
Assigned Loans by Assignor to Assignee and Assignee to the Trustee.
Section
4.09 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.
Section
4.10 In
the event that any provision of this Agreement conflicts with any provision
of
any of the Servicing Agreement with respect to the Assigned Loans, the terms
of
this Agreement shall control.
[SIGNATURE
PAGE FOLLOWS]
IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authorized officers as of the date first above written.
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
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By:
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Name:
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Title:
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By:
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Name:
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Title:
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UBS
REAL ESTATE SECURITIES INC.
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By:
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Name:
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Title:
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By:
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Name:
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Title:
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BANK
OF AMERICA, NATIONAL ASSOCIATION
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By:
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Name:
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Title:
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ATTACHMENT 1
ASSIGNED
LOAN SCHEDULE
As
delivered to the Trustee on the Closing Date
ATTACHMENT 2
SERVICING
AGREEMENT
On
File
at Xxxxxxx Xxxxxxxx & Xxxx LLP
ATTACHMENT 3
EXHIBITS
5-A, 5-B, 5-C TO THE SERVICING AGREEMENT
Exhibit
5-A:Standard File Layout – Delinquency
Reporting
*The
column/header names in bold are the minimum
fields Xxxxx Fargo must receive from every Servicer
Column/Header
Name
|
Description
|
Decimal
|
Format
Comment
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
|
|
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LOAN_NBR
|
A
unique identifier assigned to each loan by the originator.
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CLIENT_NBR
|
Servicer
Client Number
|
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SERV_INVESTOR_NBR
|
Contains
a unique number as assigned by an external servicer to identify a
group of
loans in their system.
|
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BORROWER_FIRST_NAME
|
First
Name of the Borrower.
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BORROWER_LAST_NAME
|
Last
name of the borrower.
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PROP_ADDRESS
|
Street
Name and Number of Property
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PROP_STATE
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The
state where the property located.
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PROP_ZIP
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Zip
code where the property is located.
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BORR_NEXT_PAY_DUE_DATE
|
The
date that the borrower's next payment is due to the servicer at the
end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
|
|
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.
|
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POST_PETITION_DUE_DATE
|
The
payment due date once the bankruptcy has been approved by the
courts
|
MM/DD/YYYY
|
|
BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
|
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;
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LOSS_MIT_EST_COMP_DATE
|
The
Date The Loss Mitigation /Plan Is Scheduled To End/Close
|
MM/DD/YYYY
|
|
LOSS_MIT_ACT_COMP_DATE
|
The
Date The Loss Mitigation Is Actually Completed
|
MM/DD/YYYY
|
|
FRCLSR_APPROVED_DATE
|
The
date DA Admin sends a letter to the servicer with instructions to
begin
foreclosure proceedings.
|
MM/DD/YYYY
|
|
ATTORNEY_REFERRAL_DATE
|
Date
File Was Referred To Attorney to Pursue Foreclosure
|
MM/DD/YYYY
|
|
FIRST_LEGAL_DATE
|
Notice
of 1st legal filed by an Attorney in a Foreclosure Action
|
MM/DD/YYYY
|
|
FRCLSR_SALE_EXPECTED_DATE
|
The
date by which a foreclosure sale is expected to occur.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_DATE
|
The
actual date of the foreclosure sale.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_AMT
|
The
amount a property sold for at the foreclosure sale.
|
2
|
No
commas(,) or dollar signs ($)
|
EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
|
EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
|
LIST_PRICE
|
The
price at which an REO property is marketed.
|
2
|
No
commas(,) or dollar signs ($)
|
LIST_DATE
|
The
date an REO property is listed at a particular price.
|
MM/DD/YYYY
|
|
OFFER_AMT
|
The
dollar value of an offer for an REO property.
|
2
|
No
commas(,) or dollar signs ($)
|
OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
|
REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
|
REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
|
OCCUPANT_CODE
|
Classification
of how the property is occupied.
|
|
|
PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
||
PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
|
APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
|
CURR_PROP_VAL
|
The
current "as is" value of
the property based on brokers price opinion or
appraisal.
|
2
|
|
REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
|
If
applicable:
|
|
|
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DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
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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.
|
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MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
|
MI_CLAIM_PAID_DATE
|
Date
Mortgage Insurance Company Disbursed Claim Payment
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT_PAID
|
Amount
Mortgage Insurance Company Paid On Claim
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_FILED_DATE
|
Date
Claim Was Filed With Pool Insurance Company
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT
|
Amount
of Claim Filed With Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_PAID_DATE
|
Date
Claim Was Settled and The Check Was Issued By The Pool
Insurer
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT_PAID
|
Amount
Paid On Claim By Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_FILED_DATE
|
Date
FHA Part A Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_AMT
|
Amount
of FHA Part A Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part A Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part A Claim
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_FILED_DATE
|
Date
FHA Part B
Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_AMT
|
Amount
of FHA Part B Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part B Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_PAID_AMT
|
Amount
HUD Paid on
Part B Claim
|
2
|
No
commas(,) or dollar signs ($)
|
VA_CLAIM_FILED_DATE
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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
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|
VA_CLAIM_PAID_AMT
|
Amount
Veterans
Admin. Paid on VA Claim
|
2
|
No
commas(,) or dollar signs ($)
|
MOTION_FOR_RELIEF_DATE
|
The
date the Motion for Relief was filed
|
10
|
MM/DD/YYYY
|
FRCLSR_BID_AMT
|
The
foreclosure sale bid amount
|
11
|
No
commas(,) or dollar signs ($)
|
FRCLSR_SALE_TYPE
|
The
foreclosure sales results: REO, Third Party, Conveyance to
HUD/VA
|
|
|
REO_PROCEEDS
|
The
net proceeds from the sale of the REO property.
|
|
No
commas(,) or dollar signs ($)
|
BPO_DATE
|
The
date the BPO was done.
|
|
|
CURRENT_FICO
|
The
current FICO score
|
|
|
HAZARD_CLAIM_FILED_DATE
|
The
date the Hazard Claim was filed with the Hazard Insurance
Company.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_AMT
|
The
amount of the Hazard Insurance Claim filed.
|
11
|
No
commas(,) or dollar signs ($)
|
HAZARD_CLAIM_PAID_DATE
|
The
date the Hazard Insurance Company disbursed the claim
payment.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_PAID_AMT
|
The
amount the Hazard Insurance Company paid on the claim.
|
11
|
No
commas(,) or dollar signs ($)
|
ACTION_CODE
|
Indicates
loan status
|
Number
|
|
NOD_DATE
|
Notice
of Default date
|
|
MM/DD/YYYY
|
NOI_DATE
|
Notice
of Intention to F/C date
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_PLAN_START_DATE
|
Date
the loss mitigation payment plan starts
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_
PLAN_END_DATE
|
Date
the loss mitigation payment plan is scheduled to end
|
|
MM/DD/YYYY
|
ACTUAL_REO_START_DATE
|
Date
the loan moved into REO status
|
|
MM/DD/YYYY
|
REO_SALES_PRICE
|
The
price the property sold for in REO
|
|
Number
|
REALIZED_LOSS/GAIN
|
As
defined in the Servicing Agreement
|
|
Number
|
Exhibit
5-A:Standard
File Codes –
Delinquency Reporting
The
Loss Mit Type field should show the approved Loss
Mitigation Code as follows:
· ASUM-
|
Approved
Assumption
|
· BAP-
|
Borrower
Assistance Program
|
· CO-
|
Charge
Off
|
· DIL-
|
Deed-in-Lieu
|
· FFA-
|
Formal
Forbearance Agreement
|
· MOD-
|
Loan
Modification
|
· PRE-
|
Pre-Sale
|
· SS-
|
Short
Sale
|
· 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:
· Mortgagor
|
· Tenant
|
· Unknown
|
· Vacant
|
The
Property
Condition
field should show the last reported condition of the property as
follows:
· Damaged
|
· Excellent
|
· Fair
|
· Gone
|
· Good
|
· Poor
|
· Special
Hazard
|
· Unknown
|
Exhibit
5-A: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
5-A:Standard
File Codes –
Delinquency Reporting, Continued
The
FNMA
Delinquent Status
Code field
should show the Status of Default as follows:
Status
Code
|
Status
Description
|
09
|
Forbearance
|
17
|
Pre-foreclosure
Sale
Closing Plan
Accepted
|
24
|
Government
Seizure
|
26
|
Refinance
|
27
|
Assumption
|
28
|
Modification
|
29
|
Charge-Off
|
30
|
Third
Party Sale
|
31
|
Probate
|
32
|
Military
Indulgence
|
43
|
Foreclosure
Started
|
44
|
Deed-in-Lieu
Started
|
49
|
Assignment
Completed
|
61
|
Second
Lien
Considerations
|
62
|
Veteran’s
Affairs-No
Bid
|
63
|
Veteran’s
Affairs-Refund
|
64
|
Veteran’s
Affairs-Buydown
|
65
|
Chapter
7
Bankruptcy
|
66
|
Chapter
11
Bankruptcy
|
67
|
Chapter
13
Bankruptcy
|
Exhibit
5-B:Standard File Layout – Master
Servicing
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
Each
file requires the following fields:
|
|
|
|
|
SER_INVESTOR_NBR
|
A
value assigned by the Servicer to define a group of loans.
|
|
Text
up to 20
digits
|
20
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the investor.
|
|
Text
up to 10 digits
|
10
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR.
|
|
Text
up to 10 digits
|
10
|
SCHED_PAY_AMT
|
Scheduled
monthly principal and scheduled interest payment that a borrower
is
expected to pay, P&I constant.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NOTE_INT_RATE
|
The
loan interest rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
NET_INT_RATE
|
The
loan gross interest rate less the service fee rate as reported by
the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_RATE
|
The
servicer's fee rate for a loan as reported by the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_AMT
|
The
servicer's fee amount for a loan as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_PAY_AMT
|
The
new loan payment amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_LOAN_RATE
|
The
new loan rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
ARM_INDEX_RATE
|
The
index the Servicer is using to calculate a forecasted
rate.
|
4
|
Max
length of 6
|
6
|
ACTL_BEG_PRIN_BAL
|
The
borrower's actual principal balance at the beginning of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_END_PRIN_BAL
|
The
borrower's actual principal balance at the end of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BORR_NEXT_PAY_DUE_DATE
|
The
date at the end of processing cycle that the borrower's next payment
is
due to the Servicer, as reported by Servicer.
|
|
MM/DD/YYYY
|
10
|
SERV_CURT_AMT_1
|
The
first curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_1
|
The
curtailment date associated with the first curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_1
|
The
curtailment interest on the first curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_AMT_2
|
The
second curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_2
|
The
curtailment date associated with the second curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_2
|
The
curtailment interest on the second curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Exhibit
5-B:Continued
|
Standard
Loan Level File Layout
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
SERV_CURT_AMT_3
|
The
third curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_3
|
The
curtailment date associated with the third curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_AMT_3
|
The
curtailment interest on the third curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_AMT
|
The
loan "paid in full" amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_DATE
|
The
paid in full date as reported by the Servicer.
|
|
MM/DD/YYYY
|
10
|
ACTION_CODE
|
The
standard FNMA numeric code used to indicate the default/delinquent
status
of a particular loan.
|
|
Action
Code Key: 15=Bankruptcy, 00xXxxxxxxxxxx, , 00xXXX, 63=Substitution,
65=Repurchase,70=REO
|
2
|
INT_ADJ_AMT
|
The
amount of the interest adjustment as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SOLDIER_SAILOR_ADJ_AMT
|
The
Soldier and Sailor Adjustment amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NON_ADV_LOAN_AMT
|
The
Non Recoverable Loan Amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
LOAN_LOSS_AMT
|
The
amount the Servicer is passing as a loss, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Plus
the following applicable fields:
|
|
|
|
|
SCHED_BEG_PRIN_BAL
|
The
scheduled outstanding principal amount due at the beginning of the
cycle
date to be passed through to investors.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_END_PRIN_BAL
|
The
scheduled principal balance due to investors at the end of a processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_PRIN_AMT
|
The
scheduled principal amount as reported by the Servicer for the current
cycle -- only applicable for Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_NET_INT
|
The
scheduled gross interest amount less the service fee amount for the
current cycle as reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_PRIN_AMT
|
The
actual principal amount collected by the Servicer for the current
reporting cycle -- only applicable for Actual/Actual
Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_NET_INT
|
The
actual gross interest amount less the service fee amount for the
current
reporting cycle as reported by the Servicer -- only applicable for
Actual/Actual Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
AMT
|
The
penalty amount received when a borrower prepays on his loan as reported
by
the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
WAIVED
|
The
prepayment penalty amount for the loan waived by the
servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Exhibit
5-B: Continued
|
Standard
Loan Level File Layout
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
MOD_DATE
|
The
Effective Payment Date of the Modification for the loan.
|
|
MM/DD/YYYY
|
10
|
MOD_TYPE
|
The
Modification Type.
|
|
Varchar
- value can be alpha or numeric
|
30
|
DELINQ_P&I_ADVANCE_AMT
|
The
current outstanding principal and interest advances made by
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BREACH_FLAG
|
Flag
to indicate if the repurchase of a loan is due to a breach of
Representations and Warranties
|
Y=Breach
N=NO
Breach
Let
blank if N/A
|
1
|
Exhibit
5-C: Calculation
of
Realized Loss/Gain Form 332– Instruction Sheet
NOTE: Do
not net or combine items. Show all expenses individually and all
credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not
being passed until the following month. The Servicer is responsible
to remit all funds pending loss approval and /or resolution of any disputed
items.
The
numbers on the 332 form correspond with the numbers listed below.
Liquidation
and Acquisition Expenses:
|
1.
|
The
Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
2.
|
The
Total Interest Due less the aggregate amount of servicing fee that
would
have been earned if all delinquent payments had been made as agreed.
For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
3.
|
Accrued
Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage
Loan as calculated on a monthly basis. For documentation, an Amortization
Schedule from date of default through liquidation breaking out the
net
interest and servicing fees advanced is
required.
|
4-12.
|
Complete
as applicable. Required
documentation:
|
* For
taxes and insurance advances – see page 2 of 332 form - breakdown required
showing period of coverage, base tax, interest, penalty. Advances
prior to default require evidence of servicer efforts to recover
advances.
* For
escrow advances - complete payment history
(to
calculate advances from last positive escrow balance forward)
* Other
expenses - copies of corporate advance history showing all
payments
* REO
repairs> $1500 require explanation
* REO
repairs>$3000 require evidence of at least 2 bids.
* Short
Sale or Charge Off require P&L supporting the decision and WFB’s approved
Servicing Officer certification.
* Unusual
or extraordinary items may require further documentation.
|
13.
|
The
total of lines 1 through 12.
|
Credits:
14-21.
|
Complete
as applicable. Required
documentation:
|
*
Copy of
the HUD 1 from the REO sale. If a 3rd Party Sale,
bid
instructions and Escrow Agent / Attorney Letter of Proceeds
Breakdown.
* Copy
of EOB for any MI or gov't guarantee
* All
other credits need to be clearly defined on the 332
form
|
22.
|
The
total of lines 14 through 21.
|
Please
Note:
|
For
HUD/VA loans, use line (18a) for Part A/Initial proceeds and line
(18b)
for Part B/Supplemental proceeds.
|
Total
Realized Loss (or Amount of Any Gain)
|
23.
|
The
total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis
( ).
|
Exhibit
5-C:Calculation of Realized Loss/Gain Form
332
Prepared
by: __________________ Date:
_______________
Phone:
______________________ Email
Address:_____________________
Servicer
Loan No.
|
Servicer
Name
|
Servicer
Address
|
XXXXX
FARGO BANK, N.A. Loan No._____________________________
Borrower's
Name: _________________________________________________________
Property
Address: _________________________________________________________
Liquidation
Type: REO
Sale
3rd
Party Sale Short
Sale Charge
Off
Was
this loan granted a Bankruptcy deficiency or cramdown Yes No
If
“Yes”,
provide deficiency or cramdown amount
_______________________________
Liquidation
and Acquisition Expenses:
(1)
|
Actual
Unpaid Principal Balance of Mortgage Loan
|
|
$ |
(1)
|
|||
(2)
|
Interest
accrued at Net Rate
|
|
(2)
|
||||
(3)
|
Accrued
Servicing Fees
|
|
(3)
|
||||
(4)
|
Attorney's
Fees
|
|
(4)
|
||||
(5)
|
Taxes
(see page 2)
|
|
(5)
|
||||
(6)
|
Property
Maintenance
|
|
(6)
|
||||
(7)
|
MI/Hazard
Insurance Premiums (see page 2)
|
|
(7)
|
||||
(8)
|
Utility
Expenses
|
|
(8)
|
||||
(9)
|
Appraisal/BPO
|
|
(9)
|
||||
(10)
|
Property
Inspections
|
|
(10)
|
||||
(11)
|
FC
Costs/Other Legal Expenses
|
(11)
|
|||||
(12)
|
Other
(itemize)
|
|
(12)
|
||||
Cash
for Keys
|
|
(12)
|
|||||
HOA/Condo
Fees
|
|
(12)
|
|||||
|
|
(12)
|
|||||
Total
Expenses
|
$ |
(13)
|
|||||
Credits:
|
|||||||
(14)
|
Escrow
Balance
|
$
|
(14)
|
||||
(15)
|
HIP
Refund
|
(15)
|
|||||
(16)
|
Rental
Receipts
|
|
(16)
|
||||
(17)
|
Hazard
Loss Proceeds
|
|
(17)
|
||||
(18)
|
Primary
Mortgage Insurance / Gov’t Insurance
|
|
(18a) | ||||
HUD
Part A
|
|||||||
HUD
Part B
|
(18b) | ||||||
(19)
|
Pool
Insurance Proceeds
|
|
(19)
|
||||
(20)
|
Proceeds
from Sale of Acquired Property
|
|
(20)
|
||||
(21)
|
Other
(itemize)
|
|
(21)
|
||||
|
|
|
(21)
|
||||
Total
Credits
|
$
|
(22)
|
|||||
Total
Realized Loss (or Amount of Gain)
|
|
|
$
|
(23)
|
Escrow
Disbursement Detail
Type
(Tax
/Ins.)
|
Date
Paid
|
Period
of Coverage
|
Total
Paid
|
Base
Amount
|
Penalties
|
Interest
|
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
ATTACHMENT 4
NEW
EXHIBIT 9 TO THE SERVICING AGREEMENT
SERVICING
CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The
assessment of compliance to be delivered by [the Company] [Name of Subservicer]
shall address, at a minimum, the criteria identified as below as “Applicable
Servicing Criteria”:
Servicing
Criteria
|
Applicable
Servicing
Criteria
|
|
Reference
|
Criteria
|
|
General
Servicing Considerations
|
||
1122(d)(1)(i)
|
Policies
and procedures are instituted to monitor any performance or other
triggers
and events of default in accordance with the transaction
agreements.
|
X
|
1122(d)(1)(ii)
|
If
any material servicing activities are outsourced to third parties,
policies and procedures are instituted to monitor the third party’s
performance and compliance with such servicing activities.
|
X
|
1122(d)(1)(iii)
|
Any
requirements in the transaction agreements to maintain a back-up
servicer
for the mortgage loans are maintained.
|
|
1122(d)(1)(iv)
|
A
fidelity bond and errors and omissions policy is in effect on the
party
participating in the servicing function throughout the reporting
period in
the amount of coverage required by and otherwise in accordance with
the
terms of the transaction agreements.
|
X
|
Cash
Collection and Administration
|
||
1122(d)(2)(i)
|
Payments
on mortgage loans are deposited into the appropriate custodial bank
accounts and related bank clearing accounts no more than two business
days
following receipt, or such other number of days specified in the
transaction agreements.
|
X
|
1122(d)(2)(ii)
|
Disbursements
made via wire transfer on behalf of an obligor or to an investor
are made
only by authorized personnel.
|
X
|
1122(d)(2)(iii)
|
Advances
of funds or guarantees regarding collections, cash flows or distributions,
and any interest or other fees charged for such advances, are made,
reviewed and approved as specified in the transaction
agreements.
|
X
|
1122(d)(2)(iv)
|
The
related accounts for the transaction, such as cash reserve accounts
or
accounts established as a form of overcollateralization, are separately
maintained (e.g., with respect to commingling of cash) as set forth
in the
transaction agreements.
|
X
|
1122(d)(2)(v)
|
Each
custodial account is maintained at a federally insured depository
institution as set forth in the transaction agreements. For purposes
of
this criterion, “federally insured depository institution” with respect to
a foreign financial institution means a foreign financial institution
that
meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
Act.
|
X
|
1122(d)(2)(vi)
|
Unissued
checks are safeguarded so as to prevent unauthorized
access.
|
X
|
1122(d)(2)(vii)
|
Reconciliations
are prepared on a monthly basis for all asset-backed securities related
bank accounts, including custodial accounts and related bank clearing
accounts. These reconciliations are (A) mathematically accurate;
(B)
prepared within 30 calendar days after the bank statement cutoff
date, or
such other number of days specified in the transaction agreements;
(C)
reviewed and approved by someone other than the person who prepared
the
reconciliation; and (D) contain explanations for reconciling items.
These
reconciling items are resolved within 90 calendar days of their original
identification, or such other number of days specified in the transaction
agreements.
|
X
|
Investor
Remittances and Reporting
|
||
1122(d)(3)(i)
|
Reports
to investors, including those to be filed with the Commission, are
maintained in accordance with the transaction agreements and applicable
Commission requirements. Specifically, such reports (A) are prepared
in
accordance with timeframes and other terms set forth in the transaction
agreements; (B) provide information calculated in accordance with
the
terms specified in the transaction agreements; (C) are filed with
the
Commission as required by its rules and regulations; and (D) agree
with
investors’ or the trustee’s records as to the total unpaid principal
balance and number of mortgage loans serviced by the
Servicer.
|
X
|
1122(d)(3)(ii)
|
Amounts
due to investors are allocated and remitted in accordance with timeframes,
distribution priority and other terms set forth in the transaction
agreements.
|
X
|
1122(d)(3)(iii)
|
Disbursements
made to an investor are posted within two business days to the Servicer’s
investor records, or such other number of days specified in the
transaction agreements.
|
X
|
1122(d)(3)(iv)
|
Amounts
remitted to investors per the investor reports agree with cancelled
checks, or other form of payment, or custodial bank
statements.
|
X
|
Pool
Asset Administration
|
||
1122(d)(4)(i)
|
Collateral
or security on mortgage loans is maintained as required by the transaction
agreements or related mortgage loan documents.
|
X
|
1122(d)(4)(ii)
|
Mortgage
loan and related documents are safeguarded as required by the transaction
agreements.
|
X
|
1122(d)(4)(iii)
|
Any
additions, removals or substitutions to the asset pool are made,
reviewed
and approved in accordance with any conditions or requirements in
the
transaction agreements.
|
X
|
1122(d)(4)(iv)
|
Payments
on mortgage loans, including any payoffs, made in accordance with
the
related mortgage loan documents are posted to the Servicer’s obligor
records maintained no more than two business days after receipt,
or such
other number of days specified in the transaction agreements, and
allocated to principal, interest or other items (e.g., escrow) in
accordance with the related mortgage loan documents.
|
X
|
1122(d)(4)(v)
|
The
Servicer’s records regarding the mortgage loans agree with the Servicer’s
records with respect to an obligor’s unpaid principal
balance.
|
X
|
1122(d)(4)(vi)
|
Changes
with respect to the terms or status of an obligor’s mortgage loans (e.g.,
loan modifications or re-agings) are made, reviewed and approved
by
authorized personnel in accordance with the transaction agreements
and
related pool asset documents.
|
X
|
1122(d)(4)(vii)
|
Loss
mitigation or recovery actions (e.g., forbearance plans, modifications
and
deeds in lieu of foreclosure, foreclosures and repossessions, as
applicable) are initiated, conducted and concluded in accordance
with the
timeframes or other requirements established by the transaction
agreements.
|
X
|
1122(d)(4)(viii)
|
Records
documenting collection efforts are maintained during the period a
mortgage
loan is delinquent in accordance with the transaction agreements.
Such
records are maintained on at least a monthly basis, or such other
period
specified in the transaction agreements, and describe the entity’s
activities in monitoring delinquent mortgage loans including, for
example,
phone calls, letters and payment rescheduling plans in cases where
delinquency is deemed temporary (e.g., illness or
unemployment).
|
X
|
1122(d)(4)(ix)
|
Adjustments
to interest rates or rates of return for mortgage loans with variable
rates are computed based on the related mortgage loan
documents.
|
X
|
1122(d)(4)(x)
|
Regarding
any funds held in trust for an obligor (such as escrow accounts):
(A) such
funds are analyzed, in accordance with the obligor’s mortgage loan
documents, on at least an annual basis, or such other period specified
in
the transaction agreements; (B) interest on such funds is paid, or
credited, to obligors in accordance with applicable mortgage loan
documents and state laws; and (C) such funds are returned to the
obligor
within 30 calendar days of full repayment of the related mortgage
loans,
or such other number of days specified in the transaction
agreements.
|
X
|
1122(d)(4)(xi)
|
Payments
made on behalf of an obligor (such as tax or insurance payments)
are made
on or before the related penalty or expiration dates, as indicated
on the
appropriate bills or notices for such payments, provided that such
support
has been received by the servicer at least 30 calendar days prior
to these
dates, or such other number of days specified in the transaction
agreements.
|
X
|
1122(d)(4)(xii)
|
Any
late payment penalties in connection with any payment to be made
on behalf
of an obligor are paid from the servicer’s funds and not charged to the
obligor, unless the late payment was due to the obligor’s error or
omission.
|
X
|
1122(d)(4)(xiii)
|
Disbursements
made on behalf of an obligor are posted within two business days
to the
obligor’s records maintained by the servicer, or such other number of days
specified in the transaction agreements.
|
X
|
1122(d)(4)(xiv)
|
Delinquencies,
charge-offs and uncollectible accounts are recognized and recorded
in
accordance with the transaction agreements.
|
X
|
1122(d)(4)(xv)
|
Any
external enhancement or other support, identified in Item 1114(a)(1)
through (3) or Item 1115 of Regulation AB, is maintained as set forth
in
the transaction agreements.
|
ATTACHMENT
5
EXHIBIT
8A
FORM
OF
ANNUAL CERTIFICATION
|
Re:
|
The
[
|
]
agreement dated as of [
|
l,
200[ ] (the
“Agreement”), among [IDENTIFY
PARTIES]
|
I,
____________________________, the _______________________ of [NAME OF COMPANY]
(the “Company”), certify to [the Purchaser], [the Depositor], and the [Master
Servicer] [Securities Administrator] [Trustee], and their officers, with the
knowledge and intent that they will rely upon this certification,
that:
(1) I
have reviewed the servicer compliance statement of the Company provided in
accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the
Annual Independent Public Accountants’ Servicing Report (as defined in the
Agreement), and all servicing reports, officer’s certificates and other
information relating to the servicing of the Mortgage Loans by the Company
during 200[ ] that were delivered by the Company to the [Depositor] [Master
Servicer] [Securities Administrator] [Trustee] pursuant to the Agreement
(collectively, the “Company Servicing Information”);
(2) Based
on my knowledge, the Company Servicing Information, taken as a whole, does
not
contain any untrue statement of a material fact or omit to state a material
fact
necessary to make the statements made, in the light of the circumstances under
which such statements were made, not misleading with respect to the period
of
time covered by the Company Servicing Information;
(3) Based
on my knowledge, all of the Company Servicing Information required to be
provided by the Company under the Agreement has been provided to the [Depositor]
[Master Servicer] [Securities Administrator] [Trustee];
(4) I
am responsible for reviewing the activities performed by the Company as servicer
under the Agreement, and based on my knowledge and the compliance review
conducted in preparing the Compliance Statement and except as disclosed in
the
Compliance Statement and the Annual Independent Public Accountants’ Servicing
Report, the Company has fulfilled its obligations under the Agreement in all
material respects; and
(5) The
Compliance Statement required to be delivered by the Company pursuant to the
Agreement, and the Annual Independent Public Accountants’ Servicing Report
required to be provided by the Company and by any Subservicer and Subcontractor
pursuant to the Agreement, have been provided to the [Depositor] [Master
Servicer]. Any material instances of noncompliance described in such
reports have been disclosed to the [Depositor] [Master Servicer]. Any material
instance of noncompliance with the Servicing Criteria has been disclosed in
such
reports.
Date:
|
|
By:
|
|
Name:
|
|
Title:
|
TRANSFER
NOTICE
September
1, 2007
Cenlar
FSB, as Servicer
X.X.
Xxx
00000
000
Xxxxxxxx Xxxxxxxxx
Xxxxxxx,
Xxx Xxxxxx 00000
You
are
hereby notified that as of September 1, 2007 (the “Effective Date”), the
undersigned has transferred the Securitized Loans listed on the attached
schedule (the “Securitized Loans”) to MASTR Alternative Loan Trust 2007-HF1 (the
“Trust”). The attached schedule also contains a field which sets
forth the Servicing Fee Rate(s) and the Prepayment Charge
Schedule. You agree to service such Securitized Loans as Securitized
Loans under that certain Servicing Agreement dated as of January 1, 2006 (the
“Servicing Agreement”), by and among Cenlar FSB, as servicer (the “Servicer”),
UBS Real Estate Securities
Inc., as seller (“UBS” or the “Seller”) and Xxxxx Fargo Bank, National
Association, as master servicer (the “Master Servicer”). In addition,
you shall recognize the Trust or the Master Servicer or U.S. Bank National
Association (the “Trustee”), acting as agents for the Trust, as having the same
rights as UBS as Seller under the Servicing Agreement with respect to such
transferred Securitized Loans. The address for notice for the Trustee
for these Securitized Loans is EP-MN-WS3D, 00 Xxxxxxxxxx Xxxxxx, Xx. Xxxx,
Xxxxxxxxx 00000, Attention: Structured Finance—MASTR Alternative Loan Trust
2007-HF1.
Modifications
to the Servicing Agreement: Only insofar as it relates to the Securitized
Loans, the parties hereto hereby amend the Servicing Agreement as
follows:
1.
The
sixth and seventh paragraphs of Section 3.01 of the Servicing Agreement is
hereby deleted in its entirety and replaced with the following:
Consistent
with the terms of this Agreement and except as provided in Section 3.15 hereof,
the Servicer may waive any late payment charge, assumption fee or other fee
(other than a Prepayment Charge) that may be collected in the ordinary course
of
servicing the Securitized Loans. The Servicer shall not make any
future advances to any Mortgagor under any Securitized Loan, and (unless the
Mortgagor is in default with respect to the Securitized Loan or such default
is,
in the judgment of the Servicer, reasonably foreseeable) the Servicer shall
not
permit any modification of any material term of any Securitized Loan, including
any modification that would change the Mortgage Interest Rate, defer or forgive
the payment of principal or interest, reduce or increase the outstanding
principal balance (except for actual payments of principal) or change the final
maturity date on such Securitized Loan. In the event of any such
modification which permits the deferral of interest or principal payments on
any
Securitized Loan, the Servicer shall, on the Business Day immediately preceding
the Remittance Date in any month in which any such principal or interest payment
has been deferred, make a Monthly Advance in accordance with Section 4.03,
in an
amount equal to the difference between (a) such month’s principal and one
month’s interest at the Securitized Loan Remittance Rate on the unpaid principal
balance of such Securitized Loan and (b) the amount paid by the
Mortgagor. notwithstanding the foregoing, in the event that any
Mortgage Loan is in default or, in the judgment of the Servicer, such default
is
reasonably foreseeable, the Servicer, consistent with the standards set forth
in
this Section (i), may also waive, modify or vary any term of such Mortgage
Loan
(including modifications that would change the Mortgage Interest Rate, forgive
the payment of principal or interest or extend the final maturity date of such
Mortgage Loan, accept payment from the related Mortgagor of an amount less
than
the Stated Principal Balance in final satisfaction of such Mortgage Loan (such
payment, a “Short Pay-off”) or consent to the postponement of strict compliance
with any such term or otherwise grant indulgence to any Mortgagor; provided
that, in the judgment of the Servicer, any such modification, waiver or
amendment could reasonably be expected to result in collections and other
recoveries in respect of such Mortgage Loans in excess of net Liquidation
Proceeds that would be recovered upon the foreclosure of, or other realization
upon, such Mortgage Loan. The Servicer shall be entitled to
reimbursement for such advances to the same extent as for all other advances
made pursuant to Section 4.03. The Servicer may permit modifications
to a Securitized Loan, which are authorized by the express terms of either
an
allonge to the related Mortgage Note or an addendum to the related Mortgage
in
existence as of the Effective Date. Without limiting the generality of the
foregoing, the Servicer shall continue, and is hereby authorized and empowered,
to execute and deliver on behalf of itself and the related Trust, all
instruments of satisfaction or cancellation, or of partial or full release,
discharge and all other comparable instruments, with respect to the Securitized
Loans and with respect to the Mortgaged Properties. Upon the written
request of the Servicer, the Trustee shall execute and deliver to the Servicer,
within the later of fifteen days from the Closing Date or within fifteen days
of
such Servicer request, any powers of attorney (one for each county in which
any
of the Mortgaged Properties are located) and other documents, furnished to
it by
the Servicer and reasonably satisfactory to the Trustee, necessary or
appropriate to enable the Servicer to carry out its servicing and administrative
duties under this Agreement. Promptly after the execution of any
modification of any Mortgage Loan pursuant to this Section 3.01, the Servicer
shall forward to the Master Servicer and Xxxxx Fargo Bank, N.A. (the “Credit
Risk Manager”) copies of any documents evidencing such
modification. The Servicer shall forward copies of such foregoing
documentation in electronic format (or, upon request of the Credit Risk Manager
in hard copy format). In connection with the delivery of copies of such
documentation to the Credit Risk Manager, the Master Servicer shall have no
obligation to verify, recompute, reconcile, recalculate or reformat any
information or data provided therein prior to its delivery to the Credit Risk
Manager and shall not have any liability to the Credit Risk Manager for any
errors or omissions with respect to such documentation. Notwithstanding anything
to the contrary contained in this Agreement, the Servicer shall not make or
permit any modification, waiver or amendment of any term of any Mortgage Loan
(including any Prepayment Charge due on any Mortgage Loan) that would cause
any
REMIC created under the Trust Agreement to fail to qualify as a REMIC or result
in the imposition of any tax under Section 860F(a) or Section 860G(d) of the
Code..
2.
Exhibit D (“Standard File Layout – Master Servicing”) is hereby deleted in its
entirety and replaced with new Exhibit D, substantially in the form of Exhibit
A
to this transfer notice.
3.
Exhibit E (“Standard File Layout – Delinquency Reporting”) is hereby
deleted in its entirety and replaced with new Exhibit E, substantially in the
form of Exhibit B to this transfer notice.
4.
Exhibit F (“Standard File Layout – Calculation of Realized Loss/Gain Form 332”)
is hereby deleted in its entirety and replaced with new Exhibit C, substantially
in the form of Exhibit E to this transfer notice.
Further
Agreement.
In
addition, no later than three (3)
Business Days following the end of the Prepayment Period in each such month,
the
Servicer shall furnish to the Master Servicer and the Securities Administrator
a
statement detailing any prepayments in full received by the Servicer from the
first day of such month through the end of such Prepayment
Period. The Master Servicer shall not be responsible to recompute,
recalculate or verify any information provided to it by the
Servicer.
[SIGNATURE
PAGE FOLLOWS]
UBS
REAL ESTATE SECURITIES INC., as Seller
|
|
By:
|
|
Name:
|
|
Title:
|
Acknowledged
by:
CENLAR
FSB, as
Servicer
|
|
By:
|
|
Name:
|
|
Title:
|
Schedule
As
delivered to the Trustee on the Closing Date
Exhibit
A
New
Exhibit D to the Servicing Agreement
Standard
Loan Level File Layout – Master Servicing
|
|
|
|
|
|
|
|
||
|
|
|
||
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
Each
file requires the following fields:
|
|
|
|
|
SER_INVESTOR_NBR
|
A
value assigned by the Servicer to define a group of loans.
|
|
Text
up to 20
digits
|
20
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the investor.
|
|
Text
up to 10 digits
|
10
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR.
|
|
Text
up to 10 digits
|
10
|
SCHED_PAY_AMT
|
Scheduled
monthly principal and scheduled interest payment that a borrower
is
expected to pay, P&I constant.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NOTE_INT_RATE
|
The
loan interest rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
NET_INT_RATE
|
The
loan gross interest rate less the service fee rate as reported by
the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_RATE
|
The
servicer's fee rate for a loan as reported by the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_AMT
|
The
servicer's fee amount for a loan as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_PAY_AMT
|
The
new loan payment amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_LOAN_RATE
|
The
new loan rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
ARM_INDEX_RATE
|
The
index the Servicer is using to calculate a forecasted
rate.
|
4
|
Max
length of 6
|
6
|
ACTL_BEG_PRIN_BAL
|
The
borrower's actual principal balance at the beginning of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_END_PRIN_BAL
|
The
borrower's actual principal balance at the end of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BORR_NEXT_PAY_DUE_DATE
|
The
date at the end of processing cycle that the borrower's next payment
is
due to the Servicer, as reported by Servicer.
|
|
MM/DD/YYYY
|
10
|
SERV_CURT_AMT_1
|
The
first curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_1
|
The
curtailment date associated with the first curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_1
|
The
curtailment interest on the first curtailment 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 curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_2
|
The
curtailment interest on the second curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Exhibit
D:Continued
|
Standard
Loan Level File Layout
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
SERV_CURT_AMT_3
|
The
third curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_3
|
The
curtailment date associated with the third curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_AMT_3
|
The
curtailment interest on the third curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_AMT
|
The
loan "paid in full" amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_DATE
|
The
paid in full date as reported by the Servicer.
|
|
MM/DD/YYYY
|
10
|
ACTION_CODE
|
The
standard FNMA numeric code used to indicate the default/delinquent
status
of a particular loan.
|
|
Action
Code Key: 15=Bankruptcy, 00xXxxxxxxxxxx, , 00xXXX, 63=Substitution,
65=Repurchase,70=REO
|
2
|
INT_ADJ_AMT
|
The
amount of the interest adjustment as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SOLDIER_SAILOR_ADJ_AMT
|
The
Soldier and Sailor Adjustment amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NON_ADV_LOAN_AMT
|
The
Non Recoverable Loan Amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
LOAN_LOSS_AMT
|
The
amount the Servicer is passing as a loss, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Plus
the following applicable fields:
|
|
|
|
|
SCHED_BEG_PRIN_BAL
|
The
scheduled outstanding principal amount due at the beginning of the
cycle
date to be passed through to investors.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_END_PRIN_BAL
|
The
scheduled principal balance due to investors at the end of a processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_PRIN_AMT
|
The
scheduled principal amount as reported by the Servicer for the current
cycle -- only applicable for Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_NET_INT
|
The
scheduled gross interest amount less the service fee amount for the
current cycle as reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_PRIN_AMT
|
The
actual principal amount collected by the Servicer for the current
reporting cycle -- only applicable for Actual/Actual
Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_NET_INT
|
The
actual gross interest amount less the service fee amount for the
current
reporting cycle as reported by the Servicer -- only applicable for
Actual/Actual Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
AMT
|
The
penalty amount received when a borrower prepays on his loan as reported
by
the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
WAIVED
|
The
prepayment penalty amount for the loan waived by the
servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Exhibit
D: Continued
|
Standard
Loan Level File Layout
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
MOD_DATE
|
The
Effective Payment Date of the Modification for the loan.
|
|
MM/DD/YYYY
|
10
|
MOD_TYPE
|
The
Modification Type.
|
|
Varchar
- value can be alpha or numeric
|
30
|
DELINQ_P&I_ADVANCE_AMT
|
The
current outstanding principal and interest advances made by
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BREACH_FLAG
|
Flag
to indicate if the repurchase of a loan is due to a breach of
Representations and Warranties
|
Y=Breach
N=NO
Breach
Let
blank if N/A
|
1
|
Exhibit
D: Monthly
Summary Report by Single Investor
|
||||||
MONTHLY
SUMMARY REPORT
|
||||||
For
Month Ended: mm/dd/yyyy
|
Servicer
Name
|
|
|
|
||
Prepared
by: _____________________________
|
Investor
Nbr
|
|
|
|
||
Section
1. Remittances and Ending Balances - Required
Data
|
|
|||||
Beginning
|
Ending
|
Total
Monthly
|
Total
Ending Unpaid
|
Total
Monthly Principal
|
||
Loan
Count
|
Loan
Count
|
Remittance
Amount
|
Principal
Balance
|
Balance
|
||
0
|
0
|
$0.00
|
$0.00
|
$0.00
|
Principal
Calculation
|
||||||
1. Monthly
Principal Due
|
+
|
$0.00
|
||||
2. Current
Curtailments
|
+
|
$0.00
|
||||
3. Liquidations
|
+
|
$0.00
|
||||
4. Other
(attach explanation)
|
+
|
$0.00
|
||||
5. Principal
Due
|
$0.00
|
|||||
6. Interest
(reported "gross")
|
+
|
$0.00
|
||||
7. Interest
Adjustments on Curtailments
|
+
|
$0.00
|
||||
8. Servicing
Fees
|
-
|
$0.00
|
||||
9. Other
Interest (attach explanation)
|
+
|
$0.00
|
||||
10.
Interest Due
|
(need
to subtract ser fee)
|
$0.00
|
||||
Remittance
Calculation
|
||||||
11. Total
Principal and Interest Due (lines 5+10)
|
+
|
$0.00
|
||||
12. Reimbursement
of Non-Recoverable Advances
|
-
|
$0.00
|
||||
13. Total
Realized gains
|
+
|
$0.00
|
||||
14. Total
Realized Losses
|
-
|
$0.00
|
||||
15. Total
Prepayment Penalties
|
+
|
$0.00
|
||||
16. Total
Non-Supported Compensating Interest
|
-
|
$0.00
|
||||
17. Other
(attach explanation)
|
$0.00
|
|||||
18. Net
Funds Due on or before Remittance Date
|
$
|
$0.00
|
Section
2. Delinquency Report -
Optional Data for Loan Accounting
|
|||||||
Installments
Delinquent
|
|||||||
Total
No.
|
Total
No.
|
|
|
|
In
|
Real
Estate
|
Total
Dollar
|
of
|
of
|
30-
|
60-
|
90
or more
|
Foreclosure
|
Owned
|
Amount
of
|
Loans
|
Delinquencies
|
Days
|
Days
|
Days
|
(Optional)
|
(Optional)
|
Delinquencies
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
$0.00
|
Section
3. REG AB Summary Reporting - REPORT ALL APPLICABLE
FIELDS
|
||
REG
XX XXXXXX
|
LOAN
COUNT
|
BALANCE
|
PREPAYMENT PENALTY
AMT
|
0
|
$0.00
|
PREPAYMENT
PENALTY AMT WAIVED
|
0
|
$0.00
|
DELINQUENCY
P&I AMOUNT
|
0
|
$0.00
|
Exhibit
B
New
Exhibit E to the Servicing Agreement
Exhibit E
: Standard
File
Layout – Delinquency Reporting
*The
column/header names in bold are the minimum
fields Xxxxx Fargo must receive from every Servicer
Column/Header
Name
|
Description
|
Decimal
|
Format
Comment
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
|
|
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the originator.
|
||
CLIENT_NBR
|
Servicer
Client Number
|
||
SERV_INVESTOR_NBR
|
Contains
a unique number as assigned by an external servicer to identify a
group of
loans in their system.
|
|
|
BORROWER_FIRST_NAME
|
First
Name of the Borrower.
|
||
BORROWER_LAST_NAME
|
Last
name of the borrower.
|
||
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.
|
||
BORR_NEXT_PAY_DUE_DATE
|
The
date that the borrower's next payment is due to the servicer at the
end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
|
|
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 by the
courts
|
MM/DD/YYYY
|
|
BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
|
LOSS_MIT_APPR_DATE
|
The
Date The Loss Mitigation Was Approved By The Servicer
|
MM/DD/YYYY
|
|
LOSS_MIT_TYPE
|
The
Type Of Loss Mitigation Approved For A Loan Such As;
|
||
LOSS_MIT_EST_COMP_DATE
|
The
Date The Loss Mitigation /Plan Is Scheduled To End/Close
|
MM/DD/YYYY
|
|
LOSS_MIT_ACT_COMP_DATE
|
The
Date The Loss Mitigation Is Actually Completed
|
MM/DD/YYYY
|
|
FRCLSR_APPROVED_DATE
|
The
date DA Admin sends a letter to the servicer with instructions to
begin
foreclosure proceedings.
|
MM/DD/YYYY
|
|
ATTORNEY_REFERRAL_DATE
|
Date
File Was Referred To Attorney to Pursue Foreclosure
|
MM/DD/YYYY
|
|
FIRST_LEGAL_DATE
|
Notice
of 1st legal filed by an Attorney in a Foreclosure Action
|
MM/DD/YYYY
|
|
FRCLSR_SALE_EXPECTED_DATE
|
The
date by which a foreclosure sale is expected to occur.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_DATE
|
The
actual date of the foreclosure sale.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_AMT
|
The
amount a property sold for at the foreclosure sale.
|
2
|
No
commas(,) or dollar signs ($)
|
EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
|
EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
|
LIST_PRICE
|
The
price at which an REO property is marketed.
|
2
|
No
commas(,) or dollar signs ($)
|
LIST_DATE
|
The
date an REO property is listed at a particular price.
|
MM/DD/YYYY
|
|
OFFER_AMT
|
The
dollar value of an offer for an REO property.
|
2
|
No
commas(,) or dollar signs ($)
|
OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
|
REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
|
REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
|
OCCUPANT_CODE
|
Classification
of how the property is occupied.
|
|
|
PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
||
PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
|
APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
|
CURR_PROP_VAL
|
The
current "as is" value of
the property based on brokers price opinion or
appraisal.
|
2
|
|
REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
|
If
applicable:
|
|
|
|
DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
||
DELINQ_REASON_CODE
|
The
circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in
default for this cycle.
|
||
MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
|
MI_CLAIM_PAID_DATE
|
Date
Mortgage Insurance Company Disbursed Claim Payment
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT_PAID
|
Amount
Mortgage Insurance Company Paid On Claim
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_FILED_DATE
|
Date
Claim Was Filed With Pool Insurance Company
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT
|
Amount
of Claim Filed With Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_PAID_DATE
|
Date
Claim Was Settled and The Check Was Issued By The Pool
Insurer
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT_PAID
|
Amount
Paid On Claim By Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_FILED_DATE
|
Date
FHA Part A Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_AMT
|
Amount
of FHA Part A Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part A Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part A Claim
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_FILED_DATE
|
Date
FHA Part B
Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_AMT
|
Amount
of FHA Part B Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part B Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_PAID_AMT
|
Amount
HUD Paid on
Part B Claim
|
2
|
No
commas(,) or dollar signs ($)
|
VA_CLAIM_FILED_DATE
|
Date
VA Claim Was Filed With
the Veterans Admin
|
MM/DD/YYYY
|
|
VA_CLAIM_PAID_DATE
|
Date
Veterans Admin.
Disbursed VA Claim Payment
|
MM/DD/YYYY
|
|
VA_CLAIM_PAID_AMT
|
Amount
Veterans
Admin. Paid on VA Claim
|
2
|
No
commas(,) or dollar signs ($)
|
MOTION_FOR_RELIEF_DATE
|
The
date the Motion for Relief was filed
|
10
|
MM/DD/YYYY
|
FRCLSR_BID_AMT
|
The
foreclosure sale bid amount
|
11
|
No
commas(,) or dollar signs ($)
|
FRCLSR_SALE_TYPE
|
The
foreclosure sales results: REO, Third Party, Conveyance to
HUD/VA
|
|
|
REO_PROCEEDS
|
The
net proceeds from the sale of the REO property.
|
|
No
commas(,) or dollar signs ($)
|
BPO_DATE
|
The
date the BPO was done.
|
|
|
CURRENT_FICO
|
The
current FICO score
|
|
|
HAZARD_CLAIM_FILED_DATE
|
The
date the Hazard Claim was filed with the Hazard Insurance
Company.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_AMT
|
The
amount of the Hazard Insurance Claim filed.
|
11
|
No
commas(,) or dollar signs ($)
|
HAZARD_CLAIM_PAID_DATE
|
The
date the Hazard Insurance Company disbursed the claim
payment.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_PAID_AMT
|
The
amount the Hazard Insurance Company paid on the claim.
|
11
|
No
commas(,) or dollar signs ($)
|
ACTION_CODE
|
Indicates
loan status
|
|
Number
|
NOD_DATE
|
Notice
of Default date
|
|
MM/DD/YYYY
|
NOI_DATE
|
Notice
of Intention to F/C date
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_PLAN_START_DATE
|
Date
the loss mitigation payment plan starts
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_
PLAN_END_DATE
|
Date
the loss mitigation payment plan is scheduled to end
|
|
MM/DD/YYYY
|
ACTUAL_REO_START_DATE
|
Date
the loan moved into REO status
|
|
MM/DD/YYYY
|
REO_SALES_PRICE
|
The
price the property sold for in REO
|
|
Number
|
REALIZED_LOSS/GAIN
|
As
defined in the Servicing Agreement
|
|
Number
|
Exhibit
E:Standard
File Codes –
Delinquency Reporting
The
Loss Mit Type field should show the approved Loss
Mitigation Code as follows:
· ASUM-
|
Approved
Assumption
|
· BAP-
|
Borrower
Assistance Program
|
· CO-
|
Charge
Off
|
· DIL-
|
Deed-in-Lieu
|
· FFA-
|
Formal
Forbearance Agreement
|
· MOD-
|
Loan
Modification
|
· PRE-
|
Pre-Sale
|
· SS-
|
Short
Sale
|
· 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:
· Mortgagor
|
· Tenant
|
· Unknown
|
· Vacant
|
The
Property
Condition
field should show the last reported condition of the property as
follows:
· Damaged
|
· Excellent
|
· Fair
|
· Gone
|
· Good
|
· Poor
|
· Special
Hazard
|
· Unknown
|
Exhibit
E: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
E: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
C
New
Exhibit F to the Servicing Agreement
Exhibit
F: Calculation
of
Realized Loss/Gain Form 332– Instruction Sheet
NOTE: Do
not net or combine items. Show all expenses individually and all
credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not
being passed until the following month. The Servicer is responsible
to remit all funds pending loss approval and /or resolution of any disputed
items.
The
numbers on the 332 form correspond with the numbers listed below.
Liquidation
and Acquisition Expenses:
|
1.
|
The
Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
2.
|
The
Total Interest Due less the aggregate amount of servicing fee that
would
have been earned if all delinquent payments had been made as agreed.
For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
3.
|
Accrued
Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage
Loan as calculated on a monthly basis. For documentation, an Amortization
Schedule from date of default through liquidation breaking out the
net
interest and servicing fees advanced is
required.
|
4-12.
|
Complete
as applicable. Required
documentation:
|
* For
taxes and insurance advances – see page 2 of 332 form - breakdown required
showing period
of
coverage, base tax, interest, penalty. Advances prior to default
require evidence of servicer efforts to recover advances.
* For
escrow advances - complete payment history
(to
calculate advances from last positive escrow balance forward)
* Other
expenses - copies of corporate advance history showing all
payments
* REO
repairs> $1500 require explanation
* REO
repairs>$3000 require evidence of at least 2 bids.
* Short
Sale or Charge Off require P&L supporting the decision and WFB’s approved Officer
Certificate
* Unusual
or extraordinary items may require further documentation.
|
13.
|
The
total of lines 1 through 12.
|
1. Credits:
14-21.
|
Complete
as applicable. Required
documentation:
|
*
Copy of
the HUD 1 from the REO sale. If a 3rd Party Sale,
bid
instructions and Escrow
Agent / Attorney
Letter
of Proceeds Breakdown.
* Copy
of EOB for any MI or gov't guarantee
* All
other credits need to be clearly defined on the 332
form
|
22.
|
The
total of lines 14 through 21.
|
Please
Note:
|
For
HUD/VA loans, use line (18a) for Part A/Initial proceeds and line
(18b)
for Part B/Supplemental proceeds.
|
Total
Realized Loss (or Amount of Any Gain)
|
23.
|
The
total derived from
subtracting line 22 from 13. If the amount represents a
realized gain, show the amount in parenthesis
( ).
|
Exhibit
F: Calculation
of
Realized Loss/Gain Form 332
Prepared
by: __________________ Date:
_______________
Phone:
______________________ Email
Address:_____________________
Servicer
Loan No.
|
Servicer
Name
|
Servicer
Address
|
XXXXX
FARGO BANK, N.A. Loan No._____________________________
Borrower's
Name: _________________________________________________________
Property
Address: _________________________________________________________
Liquidation
Type: REO
Sale
3rd
Party Sale Short
Sale Charge
Off
Was
this loan granted a Bankruptcy deficiency or cramdown Yes No
If
“Yes”,
provide deficiency or cramdown amount
_______________________________
Liquidation
and Acquisition Expenses:
(1)
|
Actual
Unpaid Principal Balance of Mortgage Loan
|
|
$ |
(1)
|
|||
(2)
|
Interest
accrued at Net Rate
|
|
(2)
|
||||
(3)
|
Accrued
Servicing Fees
|
|
(3)
|
||||
(4)
|
Attorney's
Fees
|
|
(4)
|
||||
(5)
|
Taxes
(see page 2)
|
|
(5)
|
||||
(6)
|
Property
Maintenance
|
|
(6)
|
||||
(7)
|
MI/Hazard
Insurance Premiums (see page 2)
|
|
(7)
|
||||
(8)
|
Utility
Expenses
|
|
(8)
|
||||
(9)
|
Appraisal/BPO
|
|
(9)
|
||||
(10)
|
Property
Inspections
|
|
(10)
|
||||
(11)
|
FC
Costs/Other Legal Expenses
|
(11)
|
|||||
(12)
|
Other
(itemize)
|
|
(12)
|
||||
Cash
for Keys
|
|
(12)
|
|||||
HOA/Condo
Fees
|
|
(12)
|
|||||
|
|
(12)
|
|||||
Total
Expenses
|
$ |
(13)
|
|||||
Credits:
|
|||||||
(14)
|
Escrow
Balance
|
$
|
(14)
|
||||
(15)
|
HIP
Refund
|
(15)
|
|||||
(16)
|
Rental
Receipts
|
|
(16)
|
||||
(17)
|
Hazard
Loss Proceeds
|
|
(17)
|
||||
(18)
|
Primary
Mortgage Insurance / Gov’t Insurance
|
|
(18a) | ||||
HUD
Part A
|
|||||||
HUD
Part B
|
(18b) | ||||||
(19)
|
Pool
Insurance Proceeds
|
|
(19)
|
||||
(20)
|
Proceeds
from Sale of Acquired Property
|
|
(20)
|
||||
(21)
|
Other
(itemize)
|
|
(21)
|
||||
|
|
|
(21)
|
||||
Total
Credits
|
$
|
(22)
|
|||||
Total
Realized Loss (or Amount of Gain)
|
|
|
$
|
(23)
|
Escrow
Disbursement Detail
Type
(Tax
/Ins.)
|
Date
Paid
|
Period
of Coverage
|
Total
Paid
|
Base
Amount
|
Penalties
|
Interest
|
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
ASSIGNMENT,
ASSUMPTION AND RECOGNITION AGREEMENT
THIS
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this “Agreement”) dated
as of September 1, 2007, among UBS Real Estate Securities Inc., a Delaware
corporation (the “Assignor” or the “Purchaser”), Mortgage Asset
Securitization Transactions, Inc. (the “Assignee”) and Chevy Chase Bank, F.S.B.
(the
“Company”).
In
consideration of mutual promises contained herein, the parties hereto agree
that
those certain mortgage loans (the “Assigned Loans”) listed on Attachment
1 hereto (the “Assigned Loan Schedule”), and, solely with respect to the
servicing provisions as they relate to the Assigned Loans (as specified in
Section 1.02 below), that certain Amended and Restated Master Loan Purchase
and
Servicing Agreement, dated as of July 1, 2005, as amended and restated to and
including June 1, 2006, between the Assignor and the Company (the “Servicing
Agreement”), shall be assigned to Assignee in accordance with the terms of
this Agreement. For purposes of this Agreement, the term “Servicing
Agreement” includes any separate xxxx of sale, letter, assignment and conveyance
or other instrument pursuant to which Company and Assignor effectuated the
purchase and sale of any Mortgage Loan following the execution and delivery
of
the Servicing Agreement. Capitalized terms used herein but not
defined shall have the meaning ascribed to them in the Servicing
Agreement.
Section
1.01 Assignor
hereby conveys, sells, grants, transfers and assigns to Assignee all of the
right, title and interest (other than those rights specifically retained by
the
Assignor pursuant to this Agreement) of Assignor in the Assigned Loans and,
as
they relate to the Assigned Loans, all of its right, title and interest in,
to
and under the Servicing Agreement, solely with respect to the servicing
provisions thereof as they relate to the Assigned Loans (as specified in Section
1.02 below). Assignor specifically reserves and does not assign to
Assignee any right, title and interest in, to or under or any obligation with
respect to any mortgage loans subject to the Servicing Agreement other than
those specifically set forth on Attachment 1 hereto.
Section
1.02 The
Assignor specifically reserves and does not assign to the Assignee hereunder
those rights under the Servicing Agreement that do not relate to the servicing
of the Assigned Loans. The Assignor and the Assignee desire that the
Company continue to service the Assigned Loans in accordance with the Servicing
Agreement and the Company has agreed to do so.
Section
2.01 Company
warrants and represents to, and covenants with, Assignor and Assignee as of
the
date hereof:
(i) Attached
hereto as Attachment 2 is a true and accurate copy of the Servicing
Agreement, and the Servicing Agreement is in full force and effect as of the
date hereof and its provisions have not been waived, further amended or modified
in any respect, nor has any notice of termination been given
thereunder;
(ii) Company
is duly organized, validly existing and in good standing under the laws of
the
jurisdiction of its organization and has all licenses necessary to carry on
its
business as now being conducted. It is licensed in, qualified to
transact business in and is in good standing under the laws of the state in
which any Mortgaged Property is located except where the failure to be so
licensed and qualified would not have a material adverse effect on Company’s
business or operations or the enforceability of any Assigned Loan or Company’s
ability to service such Assigned Loan in accordance with the terms of the
Servicing Agreement. No licenses or approvals obtained by Company
have been suspended or revoked by any court, administrative agency, arbitrator
or governmental body and no proceedings are pending which might result in such
suspension or revocation;
(iii) Company
has full power and authority to execute and deliver this Agreement, and to
consummate the transactions set forth herein. The consummation of the
transactions contemplated by this Agreement is in the ordinary course of
Company’s business and will not conflict with, or result in a breach of, any of
the terms, conditions or provisions of Company’s articles of incorporation or
by-laws or any legal restriction, or any material agreement or instrument to
which Company is now a party or by which it is bound, or result in the violation
of any law, rule, regulation, order, judgment or decree to which Company or
its
property is subject. The execution, delivery and performance by
Company of this Agreement and the consummation by it of the transactions
contemplated hereby, have been duly authorized by all necessary action on the
part of Company. This Agreement has been duly executed and delivered
by Company, and, upon the due authorization, execution and delivery by Assignor
and Assignee, will constitute the valid and legally binding obligation of
Company, enforceable against Company in accordance with its terms except as
enforceability may be limited by the effect of bankruptcy, insolvency or
reorganization;
(iv) No
consent, approval, order or authorization of, or declaration, filing or
registration with, any governmental entity is required to be obtained or made
by
Company in connection with the execution, delivery or performance by Company
of
this Agreement, or the consummation by it of the transactions contemplated
hereby;
(v) There
is
no action, suit, proceeding or investigation pending or threatened against
the
Company, before any court, administrative agency or other tribunal, which would
draw into question the validity of this Agreement or the Servicing Agreement,
or
which, either in any one instance or in the aggregate, would result in any
material adverse change in the ability of the Company to perform its obligations
under this Agreement or the Servicing Agreement. The Company is
solvent; and
(vi) The
Company agrees to make all the representations and warranties regarding the
Company set forth in Subsection 7.01 of the Servicing Agreement as of the date
hereof.
Section
2.02 The
Company hereby recognizes that the Assigned Loans will be transferred by the
Assignee to U.S. Bank National Association, as Trustee for the holders of MASTR
Alternative Loan Trust 2007-HF1 (including its successors in interest and any
successor trustee under the Pooling Agreement defined below, the
“Trustee”) in a securitization transaction pursuant to a Pooling and
Servicing Agreement, dated as of September 1, 2007 (the “Pooling
Agreement”), among the Assignee, the Assignor, the Trustee and Xxxxx Fargo
Bank, N.A., as master servicer (the “Master Servicer”), trust
administrator (the “Trust Administrator”), custodian (the
“Custodian”) and as credit risk manager (the “Credit Risk
Manager”). From and after the date hereof, the Company
acknowledges and agrees that (A) the Trustee will be the owner of the
Assigned Loans on behalf of MASTR Alternative Loan Trust 2007-HF1 (the
“Trust”), and Xxxxx Fargo Bank, N.A., will be the Master Servicer, Trust
Administrator and Custodian of the Assigned Loans, (B) the Company shall
look solely to the Trustee and the Trust Administrator, on behalf of the Trust,
for performance of any obligations of the Assignor insofar as they relate to
the
Assigned Loans, (C) the Assigned Loans will be part of a “real estate
mortgage investment conduit” within the meaning of Section 860D of the Code (the
“REMIC”), and the Company shall service the Assigned Loans and any real
property acquired upon default thereof (including, without limitation, making
or
permitting any modification, waiver or amendment of any term of any Mortgage
Loan) in accordance with the Servicing Agreement but in no event in a manner
that would (i) cause the REMIC to fail to qualify as a REMIC or
(ii) result in the imposition of a tax upon the REMIC (including but not
limited to the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code, the tax on contributions to a REMIC set forth in Section 860G(d)
of
the Code, and the tax on “net income from foreclosure property” as set forth in
Section 860G(c) of the Code), and (D) if any Mortgage has been recorded in
the
name of MERS or its designee, the Company shall take all actions as are
necessary to cause MASTR Alternative Loan Trust 2007-HF1 to be shown as the
owner of the related Assigned Loan on the record of MERS for the purpose of
the
system of recording transfers of beneficial ownership of mortgage maintained
by
MERS. It is the intention of the Assignor, the Company and the
Assignee that this Agreement shall be binding upon and for the benefit of the
respective successors and assigns of the parties hereto. 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 Servicing Agreement which
amendment, modification, waiver or other alteration would in any way affect
the
Assigned Loans without the prior written consent of the Trustee.
Section
3.01 Assignor
hereby covenants to promptly deliver to the Assignee or its designee any
Assigned Loan document received by the Assignor from the Company with respect
to
the Assigned Loans.
Section
3.02 The
parties hereto acknowledge that Assignee will acquire the Assigned Loans for
the
purpose of assigning such Assigned Loans to the Trustee for the Trust, for
the
benefit of the related certificateholders on the date
hereof. Assignor and Company hereby acknowledge and consent to the
assignment by Assignee to the Trustee, on behalf of the Trust of all of
Assignee’s rights against the Company and to the enforcement or exercise of any
right or remedy against the Company by Assignee. Such enforcement of
a right or remedy by the Trustee, on behalf of the Trust, shall have the same
force and effect as if the right or remedy had been enforced or exercised by
Assignee directly.
Section
3.03 Only
insofar as it relates to the Assigned Loans, the parties hereto hereby amend
the
Servicing Agreement as follows:
(i) The
following definitions are added to Section 1 of the Servicing
Agreement:
NIM
Security: shall
mean any net interest margin security issued by an owner trust or special
purpose entity that is holding all rights, title and interest in and to the
Class P or Class C Certificates issued by the Trust Fund.
NIMS
Insurer: shall
mean collectively, any insurance companies issuing a financial guaranty
insurance policy covering certain payments to be made on NIM Securities pursuant
to a NIMS Transaction.
NIMS
Transaction: shall mean any
transaction in which NIM Securities are secured, in part, by the payments on
the
Class P or Class C Certificates issued by the Trust Fund.
Reasonably
Foreseeable: shall mean that
the Servicer has had actual, direct contact with the Mortgagor, assessed the
Mortgagor’s current ability to pay its obligations with respect to the Mortgage
Loan, and has reasonably determined that the Mortgagor is unable to make the
payments required under the Mortgage Loan in the foreseeable future.
(ii) Section
11.01 of the Servicing Agreement is hereby amended by replacing the second
paragraph of that section in its entirety with the following:
Notwithstanding
the foregoing, the
Seller may waive, modify or vary any term of such Loan (including, but not
limited to, modifications that would change the Mortgage Interest Rate, forgive
the payment of principal or interest or extend the final maturity date of such
Loan, accept payment from the related Mortgagor of an amount less than the
Stated Principal Balance in final satisfaction of such Loan (such payment,
a
“Short Pay-off”) or consent to the postponement of strict compliance with any
such term or otherwise grant indulgence to any Mortgagor only if (i) the Loan
is
in default or, in the judgment of the Seller, such default is Reasonably
Foreseeable and (ii) in the judgment of the Seller, any such modification,
waiver or amendment could reasonably be expected to result in collections and
other recoveries in respect of such Loans in excess of net Liquidation Proceeds
that would be recovered upon the foreclosure of, or other realization upon,
such
Loan, and provided further, that on or after the date on which the Credit Risk
Manager makes available on its monthly report (the “CRM Report”), and the Seller
has received written notice of such event from the Credit Risk Manager, that
the
aggregate number of outstanding Loans which have been modified exceeds 5% of
the
number of Loans as of the Cut-off Date, any further modification of a Loan
pursuant to this Section 11.01 shall require the prior written consent of the
NIMS Insurer. In the event of any such modification which permits the
deferral of interest or principal payments on any Loan, the Seller shall, on
the
Business Day immediately preceding the related Remittance Date in any month
in
which any such principal or interest payment has been deferred, deposit in
the
Custodial Account from its own funds, in accordance with Section 11.04 and
Section 11.21, the difference between (a) such month’s principal and
one month’s interest at the related Mortgage Loan Remittance Rate on the unpaid
principal balance of such Mortgage Loan and (b) the amount paid by the
Mortgagor. The Seller shall be entitled to reimbursement for such
advances to the same extent as for all other advances pursuant to
Section 11.05. Without limiting the generality of the foregoing,
the Seller shall continue, and is hereby authorized and empowered, to prepare,
execute and deliver, all instruments of satisfaction or cancellation, or of
partial or full release, discharge and all other comparable instruments, with
respect to the Loans and with respect to the Mortgaged
Properties. Promptly after the execution of any modification of any
Loan pursuant to this Section 11.01, the Seller shall forward to the Master
Servicer, to the Credit Risk Manager and the NIMS Insurer, copies of any
documents evidencing such modification. Such notification of
modifications shall be delivered to the NIMS Insurer and marked
“Urgent”. The Servicer shall forward copies of such foregoing
documentation in electronic format (or, upon request of either the Credit Risk
Manager or the NIMS Insurer, in hard copy format). In connection with
the delivery of copies of such documentation to the NIMS Insurer and the Credit
Risk Manager, the Master Servicer shall have no obligation to verify, recompute,
reconcile, recalculate or reformat any information or data provided therein
prior to its delivery to the NIMS Insurer and the Credit Risk Manager and shall
not have any liability to either the NIMS Insurer or the Credit Risk Manager
for
any errors or omissions with respect to such documentation. The
Credit Risk Manager shall not have any liability to the NIMS Insurer for any
errors or omissions with respect to such documentation or for the failure of
the
Master Servicer or Servicer to provide such information in a timely
manner. Notwithstanding anything to the contrary contained in this
Agreement, the Seller shall not make or permit any modification, waiver or
amendment of any term of any Loan (including any Prepayment Charge due on any
Loan) that would cause any REMIC created under the Trust Agreement to fail
to
qualify as a REMIC or result in the imposition of any tax under Section 860F(a)
or Section 860G(d) of the Code.
(iii) Section
11.15 of the Servicing Agreement is hereby deleted in its entirety and replaced
with the following:
On
or
before the tenth calendar day of each month (or if such day is not a Business
Day, the immediately preceding Business Day), the Seller shall furnish to the
Master Servicer and the NIMS Insurer a delinquency report in the form set forth
in Exhibit 13-A, a monthly remittance advice in the form set forth in Exhibit
13-B, and a realized loss report in the form set forth in Exhibit 13-C, each
in
a mutually agreeable electronic format, as to the latest Due Period, together
with such other information with respect to the Mortgage Loans as the Master
Servicer may reasonably require to allocate distributions made pursuant to
this
Agreement and to provide appropriate statements in connection
therewith.
(iv) Section
11.24 of the Servicing Agreement is hereby deleted in its entirety and replaced
with “Reserved”.
(v) Section
11.25 of the Servicing Agreement is hereby deleted in its entirety and replaced
with “Reserved”.
(vi) Subsections
33.04 and 33.05 of the Servicing Agreement are hereby deleted in their entirety
and replaced with the following:
Section
3.04 On
or before March 1st of each
calendar
year, commencing in 2008, the Seller shall:
(i) deliver
to the Purchaser, any Master Servicer and any Depositor a statement of
compliance addressed to the Purchaser, such Master Servicer and such Depositor
and signed by an authorized officer of the Seller, regarding the Seller’s assessment of
compliance with the Servicing Criteria during the immediately preceding calendar
year, as required under Rules 13a-18
and 15d-18
of the Exchange Act and Item 1122 of
Regulation AB and shall address each of the Servicing Criteria specified as
applicable on Exhibit
14
hereto;
(ii) deliver
to the Purchaser, any Master Servicer and any Depositor a report of a registered
public accounting firm reasonably acceptable to the Purchaser, such Master
Servicer and such Depositor that attests to, and reports on, the assessment
of
compliance made by the Seller and delivered pursuant to the preceding paragraph.
Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of
Regulation S-X under the Securities Act and the Exchange Act;
(iii) cause
each Subservicer, if required by Regulation AB, and each Subcontractor
determined by Seller to be “participating in the servicing function” within the
meaning of Item 1122 of Regulation AB, to deliver to the Purchaser, any Master
Servicer and any Depositor an assessment of compliance and accountants’
attestation as and when provided in paragraphs (a) and (b) of this Subsection
33.04 and, to the extent required of such Subservicer or Subcontractor under
Item 1123 of Regulation AB, our annual compliance certificate as and when
provided by this Subsection 33.04; and
(iv)
deliver, and cause each Subservicer and each Subcontractor described in
clause (iii) above to deliver, to the Purchaser, any Depositor, any Master
Servicer and any other Person that will be responsible for signing the
certification (a “Sarbanes Certification”) required by Rules 13a-14(d) and
15d-14(d) under the Exchange Act (pursuant to Section 302 of the Xxxxxxxx-Xxxxx
Act of 2002) on behalf of an asset-backed issuer with respect to a
Securitization Transaction a certification, signed by the appropriate officer
of
the Seller, in the form attached hereto as Exhibit 12 (it being understood
that
to the extent such certification is required to be delivered hereunder and
is
delivered by the Seller in connection with a Securitization Transaction, the
Seller shall not be required to deliver the certification required to be
delivered pursuant to Section 11.24(b) of the Servicing Addendum); ); provided
that any such
Seller,
Subcontractor or Subservicer
certification may not
be
filed as an exhibit to, or included in, any offering document or registration
statement.
The
Seller acknowledges that the
parties identified in clause (a)(iv) above may rely on the certification
provided by the Seller pursuant to such clause in signing a Sarbanes
Certification and filing such with the Commission. None of the
Purchaser, any Master Servicer nor any Depositor will request delivery of a
certification under clause (a)(iv) above unless a Depositor or Master Servicer
is required under the Exchange Act to file an annual report on Form 10-K or
any
amendment thereto with respect to an issuing entity whose asset pool includes
Loans.
(b) Each
assessment of compliance provided by a Subservicer pursuant to this Subsection
33.05(a)(iii) need not address any elements of the Servicing Criteria other
than
those specified by the Seller pursuant to Subsection 33.06.
(c) Notwithstanding
the foregoing provisions of this Section 33.04, (i) in the event that during
any
calendar year (or applicable portion thereof) the Seller services 5% or less
of
the Mortgage Loans in the Securitization Transaction, as calculated by the
Master Servicer for such Securitization Transaction, or (ii) in any calendar
year in which an annual report on Form 10-K is not required to be filed with
respect to an issuing entity or Securitization Transaction, then, in each such
event, the Seller may, in lieu of providing an assessment of compliance and
attestation thereon in accordance with Item 1122 of Regulation AB, provide
(and
cause each Subservicer and Subcontractor described in clause (a)(iii) above
to
provide) to the Depositor and the Master Servicer for such Securitization
Transaction, by not later than March 1 of such calendar year, an Annual
Independent Public Accountants’ Servicing Report. If the Company
provides an Annual Independent Public Accountants’ Servicing Report pursuant to
this paragraph (c), then the certification required to be delivered by the
Seller (and its Subservicers and Subcontractors) shall be in the form of Exhibit
12A attached hereto instead of Exhibit 12.
(vii) Exhibits
13-A, 13-B and 13-C to the Servicing Agreement are hereby deleted in their
entirety and replaced by new Exhibits 13-A, 13-B and 13-C, substantially in
the
form of Attachment 3 to this Agreement, or the same information in such other
form as the Company and the Master Servicer shall mutually agree.
(viii) Attachment
4 to this Agreement is hereby added to the Servicing Agreement as Exhibit
14.
(ix) Attachment
5 to this Agreement is hereby added to the Servicing Agreement as Exhibit
12A.
(x) Section
11.14 of the Servicing Agreement is hereby amended by replacing the third
paragraph of that section in its entirety with the following:
With
respect to any remittance received by the Purchaser on or after the Business
Day
following the Business Day on which such payment was due, the Seller shall
pay
to the Purchaser interest on any such late payment at an annual rate equal
to
the rate of interest as is publicly announced from time to time at its principal
office by JPMorgan Chase Bank, New York, New York, as its prime lending rate,
adjusted as of the date of each change, plus three percentage points, but in
no
event greater than the maximum amount permitted by applicable law. Such interest
shall be paid by the Seller to the Purchaser on the date such late payment
is
made and shall cover the period commencing with the Business Day on which such
payment was due and ending with the Business Day on which such payment is made,
both inclusive. Such interest shall be remitted along with such late payment.
The payment by the Seller of any such interest shall not be deemed an extension
of time for payment or a waiver of any Event of Default by the
Seller.
Section
4.01 All
demands, notices and communications related to the Assigned Loans, the Servicing
Agreement and this Agreement shall be in writing and shall be deemed to have
been duly given if sent by facsimile or personally delivered or mailed by
registered mail, postage prepaid, as follows:
In
the
case of the Company,
Chevy
Chase Bank,
F.S.B.
0000
Xxxxxxxxx Xxxxxx
Xxxxx
Xxxxx
Xxxxxxxx,
Xxxxxxxx 00000
Attn:
Xxxxxxxxxxx Xxxxxx
Telephone:
000-000-0000
Facsimile: 000-000-0000
In
the
case of Assignee,
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
XX 00000
Attention: Legal
Department
Telephone
No.: (000) 000-0000
In
the
case of Assignor,
UBS
Real
Estate Securities Inc.
1285
Avenue of the Xxxxxxxx, 00xx Xxxxx
Xxx
Xxxx,
XX 00000
Attention: Xxxxxxxxxxx
X. Xxxxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
In
the
case of the Trustee:
U.S.
Bank
National Association
EP-MN-WS3D
00
Xxxxxxxxxx Xxxxxx
Xx.
Xxxx,
Xxxxxxxxx 00000
Attention:
Structured Finance/MALT 2007-HF1
Section
4.02 Distributions
required to be made by the Company under the Servicing Agreement shall be made
by wire transfer of immediately available funds to Xxxxx Fargo Bank, N.A.,
ABA
#000-000-000, for credit to SAS
Clearing; Account: 0000000000, for further credit to account
#00000000.
Applicable statements should be mailed to Xxxxx Fargo Bank, N.A., 0000 Xxx
Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000, Attn: Client Manager—MALT
2007-HF1.
Section
4.03 Each
party will pay any commissions it has incurred and the reasonable fees of its
attorneys in connection with the negotiations for, documenting of and closing
of
the transactions contemplated by this Agreement.
Section
4.04 Reserved.
Section
4.05 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.
Section
4.06 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, with prior consent of the Trustee
and
the NIMS Insurer.
Section
4.07 This
Agreement shall inure to the benefit of (i) the successors and assigns of
the parties hereto, (ii) the Trustee and (iii) the NIMS
Insurer. Any entity into which Assignor, Assignee or Company may be
merged or consolidated, to the extent permitted hereunder and under the
Servicing Agreement and the Pooling Agreement, shall, without the requirement
for any further writing, be deemed Assignor, Assignee or Company, respectively,
hereunder.
Section
4.08 Each
of this Agreement and the Servicing Agreement shall survive the conveyance
of
the Assigned Loans and the assignment of the Agreements to the extent of the
Assigned Loans by Assignor to Assignee and Assignee to the Trustee.
Section
4.09 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.
Section
4.10 In
the event that any provision of this Agreement conflicts with any provision
of
any of the Servicing Agreement with respect to the Assigned Loans, the terms
of
this Agreement shall control.
[SIGNATURE
PAGE FOLLOWS]
IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authorized officers as of the date first above written.
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
|
|||
|
By:
|
||
Name: | |||
Title: | |||
|
By:
|
||
Name: | |||
Title: | |||
UBS
REAL ESTATE SECURITIES INC.
|
|||
|
By:
|
||
Name: | |||
Title: | |||
|
By:
|
||
Name: | |||
Title: | |||
CHEVY
CHASE BANK, F.S.B.
|
|||
|
By:
|
||
Name: | |||
Title: | |||
ATTACHMENT 1
ASSIGNED
LOAN SCHEDULE
As
delivered to the Trustee on the Closing Date
ATTACHMENT 2
SERVICING
AGREEMENT
On
File
at Xxxxxxx Xxxxxxxx & Xxxx LLP
ATTACHMENT 3
EXHIBITS
13-A, 13-B, 13-C TO THE SERVICING AGREEMENT
Exhibit
13-A: Standard File Layout – Delinquency
Reporting
*The
column/header names in bold are the minimum
fields Xxxxx Fargo must receive from every Servicer
Column/Header
Name
|
Description
|
Decimal
|
Format
Comment
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
|
|
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the originator.
|
||
CLIENT_NBR
|
Servicer
Client Number
|
||
SERV_INVESTOR_NBR
|
Contains
a unique number as assigned by an external servicer to identify a
group of
loans in their system.
|
|
|
BORROWER_FIRST_NAME
|
First
Name of the Borrower.
|
||
BORROWER_LAST_NAME
|
Last
name of the borrower.
|
||
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.
|
||
BORR_NEXT_PAY_DUE_DATE
|
The
date that the borrower's next payment is due to the servicer at the
end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
|
|
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 by the
courts
|
MM/DD/YYYY
|
|
BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
|
LOSS_MIT_APPR_DATE
|
The
Date The Loss Mitigation Was Approved By The Servicer
|
MM/DD/YYYY
|
|
LOSS_MIT_TYPE
|
The
Type Of Loss Mitigation Approved For A Loan Such As;
|
||
LOSS_MIT_EST_COMP_DATE
|
The
Date The Loss Mitigation /Plan Is Scheduled To End/Close
|
MM/DD/YYYY
|
|
LOSS_MIT_ACT_COMP_DATE
|
The
Date The Loss Mitigation Is Actually Completed
|
MM/DD/YYYY
|
|
FRCLSR_APPROVED_DATE
|
The
date DA Admin sends a letter to the servicer with instructions to
begin
foreclosure proceedings.
|
MM/DD/YYYY
|
|
ATTORNEY_REFERRAL_DATE
|
Date
File Was Referred To Attorney to Pursue Foreclosure
|
MM/DD/YYYY
|
|
FIRST_LEGAL_DATE
|
Notice
of 1st legal filed by an Attorney in a Foreclosure Action
|
MM/DD/YYYY
|
|
FRCLSR_SALE_EXPECTED_DATE
|
The
date by which a foreclosure sale is expected to occur.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_DATE
|
The
actual date of the foreclosure sale.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_AMT
|
The
amount a property sold for at the foreclosure sale.
|
2
|
No
commas(,) or dollar signs ($)
|
EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
|
EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
|
LIST_PRICE
|
The
price at which an REO property is marketed.
|
2
|
No
commas(,) or dollar signs ($)
|
LIST_DATE
|
The
date an REO property is listed at a particular price.
|
MM/DD/YYYY
|
|
OFFER_AMT
|
The
dollar value of an offer for an REO property.
|
2
|
No
commas(,) or dollar signs ($)
|
OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
|
REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
|
REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
|
OCCUPANT_CODE
|
Classification
of how the property is occupied.
|
|
|
PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
||
PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
|
APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
|
CURR_PROP_VAL
|
The
current "as is" value of
the property based on brokers price opinion or
appraisal.
|
2
|
|
REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
|
If
applicable:
|
|
|
|
DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
||
DELINQ_REASON_CODE
|
The
circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in
default for this cycle.
|
||
MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
|
MI_CLAIM_PAID_DATE
|
Date
Mortgage Insurance Company Disbursed Claim Payment
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT_PAID
|
Amount
Mortgage Insurance Company Paid On Claim
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_FILED_DATE
|
Date
Claim Was Filed With Pool Insurance Company
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT
|
Amount
of Claim Filed With Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_PAID_DATE
|
Date
Claim Was Settled and The Check Was Issued By The Pool
Insurer
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT_PAID
|
Amount
Paid On Claim By Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_FILED_DATE
|
Date
FHA Part A Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_AMT
|
Amount
of FHA Part A Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part A Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part A Claim
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_FILED_DATE
|
Date
FHA Part B Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_AMT
|
Amount
of FHA Part B Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part B Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part B Claim
|
2
|
No
commas(,) or dollar signs ($)
|
VA_CLAIM_FILED_DATE
|
Date
VA Claim Was Filed With the
Veterans Admin
|
MM/DD/YYYY
|
|
VA_CLAIM_PAID_DATE
|
Date
Veterans Admin. Disbursed VA Claim Payment
|
MM/DD/YYYY
|
|
VA_CLAIM_PAID_AMT
|
Amount
Veterans Admin. Paid on VA Claim
|
2
|
No
commas(,) or dollar signs ($)
|
MOTION_FOR_RELIEF_DATE
|
The
date the Motion for Relief was filed
|
10
|
MM/DD/YYYY
|
FRCLSR_BID_AMT
|
The
foreclosure sale bid amount
|
11
|
No
commas(,) or dollar signs ($)
|
FRCLSR_SALE_TYPE
|
The
foreclosure sales results: REO, Third Party, Conveyance to
HUD/VA
|
|
|
REO_PROCEEDS
|
The
net proceeds from the sale of the REO property.
|
|
No
commas(,) or dollar signs ($)
|
BPO_DATE
|
The
date the BPO was done.
|
|
|
CURRENT_FICO
|
The
current FICO score
|
|
|
HAZARD_CLAIM_FILED_DATE
|
The
date the Hazard Claim was filed with the Hazard Insurance
Company.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_AMT
|
The
amount of the Hazard Insurance Claim filed.
|
11
|
No
commas(,) or dollar signs ($)
|
HAZARD_CLAIM_PAID_DATE
|
The
date the Hazard Insurance Company disbursed the claim
payment.
|
10
|
MM/DD/YYYY
|
HAZARD_CLAIM_PAID_AMT
|
The
amount the Hazard Insurance Company paid on the claim.
|
11
|
No
commas(,) or dollar signs ($)
|
ACTION_CODE
|
Indicates
loan status
|
Number
|
|
NOD_DATE
|
Notice
of Default date
|
|
MM/DD/YYYY
|
NOI_DATE
|
Notice
of Intention to F/C date
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_PLAN_START_DATE
|
Date
the loss mitigation payment plan starts
|
|
MM/DD/YYYY
|
ACTUAL_PAYMENT_
PLAN_END_DATE
|
Date
the loss mitigation payment plan is scheduled to end
|
|
MM/DD/YYYY
|
ACTUAL_REO_START_DATE
|
Date
the loan moved into REO status
|
|
MM/DD/YYYY
|
REO_SALES_PRICE
|
The
price the property sold for in REO
|
|
Number
|
REALIZED_LOSS/GAIN
|
As
defined in the Servicing Agreement
|
|
Number
|
Exhibit
13-A:Standard
File Codes –
Delinquency Reporting
The
Loss Mit Type field should show the approved Loss
Mitigation Code as follows:
·
|
ASUM-
|
Approved
Assumption
|
·
|
BAP-
|
Borrower
Assistance Program
|
·
|
CO-
|
Charge
Off
|
·
|
DIL-
|
Deed-in-Lieu
|
·
|
FFA-
|
Formal
Forbearance Agreement
|
·
|
MOD-
|
Loan
Modification
|
·
|
PRE-
|
Pre-Sale
|
·
|
SS-
|
Short
Sale
|
·
|
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:
·
|
Mortgagor
|
·
|
Tenant
|
·
|
Unknown
|
·
|
Vacant
|
The
Property
Condition
field should show the last reported condition of the property as
follows:
·
|
Damaged
|
·
|
Excellent
|
·
|
Fair
|
·
|
Gone
|
·
|
Good
|
·
|
Poor
|
·
|
Special
Hazard
|
·
|
Unknown
|
Exhibit
13-A: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
13-A: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
13-B:Standard File Layout – Master
Servicing
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
Each
file requires the following fields:
|
|
|
|
|
SER_INVESTOR_NBR
|
A
value assigned by the Servicer to define a group of loans.
|
|
Text
up to 20
digits
|
20
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the investor.
|
|
Text
up to 10 digits
|
10
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR.
|
|
Text
up to 10 digits
|
10
|
SCHED_PAY_AMT
|
Scheduled
monthly principal and scheduled interest payment that a borrower
is
expected to pay, P&I constant.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NOTE_INT_RATE
|
The
loan interest rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
NET_INT_RATE
|
The
loan gross interest rate less the service fee rate as reported by
the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_RATE
|
The
servicer's fee rate for a loan as reported by the
Servicer.
|
4
|
Max
length of 6
|
6
|
SERV_FEE_AMT
|
The
servicer's fee amount for a loan as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_PAY_AMT
|
The
new loan payment amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NEW_LOAN_RATE
|
The
new loan rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
ARM_INDEX_RATE
|
The
index the Servicer is using to calculate a forecasted
rate.
|
4
|
Max
length of 6
|
6
|
ACTL_BEG_PRIN_BAL
|
The
borrower's actual principal balance at the beginning of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_END_PRIN_BAL
|
The
borrower's actual principal balance at the end of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BORR_NEXT_PAY_DUE_DATE
|
The
date at the end of processing cycle that the borrower's next payment
is
due to the Servicer, as reported by Servicer.
|
|
MM/DD/YYYY
|
10
|
SERV_CURT_AMT_1
|
The
first curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SERV_CURT_DATE_1
|
The
curtailment date associated with the first curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_1
|
The
curtailment interest on the first curtailment 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 curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_
AMT_2
|
The
curtailment interest on the second curtailment 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 curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
CURT_ADJ_AMT_3
|
The
curtailment interest on the third curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_AMT
|
The
loan "paid in full" amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PIF_DATE
|
The
paid in full date as reported by the Servicer.
|
|
MM/DD/YYYY
|
10
|
ACTION_CODE
|
The
standard FNMA numeric code used to indicate the default/delinquent status
of a particular loan.
|
|
Action
Code Key: 15=Bankruptcy, 00xXxxxxxxxxxx, , 00xXXX, 63=Substitution,
65=Repurchase,70=REO
|
2
|
INT_ADJ_AMT
|
The
amount of the interest adjustment as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SOLDIER_SAILOR_ADJ_AMT
|
The
Soldier and Sailor Adjustment amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
NON_ADV_LOAN_AMT
|
The
Non Recoverable Loan Amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
LOAN_LOSS_AMT
|
The
amount the Servicer is passing as a loss, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
Plus
the following applicable fields:
|
|
|
|
|
SCHED_BEG_PRIN_BAL
|
The
scheduled outstanding principal amount due at the beginning of the
cycle
date to be passed through to investors.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_END_PRIN_BAL
|
The
scheduled principal balance due to investors at the end of a processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_PRIN_AMT
|
The
scheduled principal amount as reported by the Servicer for the current
cycle -- only applicable for Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
SCHED_NET_INT
|
The
scheduled gross interest amount less the service fee amount for the
current cycle as reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_PRIN_AMT
|
The
actual principal amount collected by the Servicer for the current
reporting cycle -- only applicable for Actual/Actual
Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
ACTL_NET_INT
|
The
actual gross interest amount less the service fee amount for the
current
reporting cycle as reported by the Servicer -- only applicable for
Actual/Actual Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
AMT
|
The
penalty amount received when a borrower prepays on his loan as reported
by
the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
PREPAY_PENALTY_
WAIVED
|
The
prepayment penalty amount for the loan waived by the
servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
MOD_DATE
|
The
Effective Payment Date of the Modification for the loan.
|
|
MM/DD/YYYY
|
10
|
MOD_TYPE
|
The
Modification Type.
|
|
Varchar
- value can be alpha or numeric
|
30
|
DELINQ_P&I_ADVANCE_AMT
|
The
current outstanding principal and interest advances made by
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
BREACH_FLAG
|
Flag
to indicate if the repurchase of a loan is due to a breach of
Representations and Warranties
|
Y=Breach
N=NO
Breach
Let
blank if N/A
|
1
|
Exhibit
13-C: Calculation of
Realized Loss/Gain Form 332– Instruction Sheet
NOTE: Do
not net or combine items. Show all expenses individually and all
credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not
being passed until the following month. The Servicer is responsible
to remit all funds pending loss approval and /or resolution of any disputed
items.
The
numbers on the 332 form correspond with the numbers listed below.
Liquidation
and Acquisition Expenses:
|
1.
|
The
Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
2.
|
The
Total Interest Due less the aggregate amount of servicing fee that
would
have been earned if all delinquent payments had been made as agreed.
For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is
required.
|
|
3.
|
Accrued
Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage
Loan as calculated on a monthly basis. For documentation, an Amortization
Schedule from date of default through liquidation breaking out the
net
interest and servicing fees advanced is
required.
|
4-12.
|
Complete
as applicable. Required
documentation:
|
* For
taxes and insurance advances – see page 2 of 332 form - breakdown required
showing period of coverage, base tax, interest, penalty. Advances
prior to default require evidence of servicer efforts to recover
advances.
* For
escrow advances - complete payment history
(to
calculate advances from last positive escrow balance forward)
* Other
expenses - copies of corporate advance history showing all
payments
* REO
repairs> $1500 require explanation
* REO
repairs>$3000 require evidence of at least 2 bids.
* Short
Sale or Charge Off require P&L supporting the decision and WFB’s approved
Servicing Officer certification.
* Unusual
or extraordinary items may require further documentation.
|
13.
|
The
total of lines 1 through 12.
|
Credits:
14-21.
|
Complete
as applicable. Required
documentation:
|
*
Copy of
the HUD 1 from the REO sale. If a 3rd Party Sale,
bid
instructions and Escrow Agent / Attorney Letter of Proceeds
Breakdown.
* Copy
of EOB for any MI or gov't guarantee
* All
other credits need to be clearly defined on the 332
form
|
22.
|
The
total of lines 14 through 21.
|
Please
Note: For
HUD/VA loans, use line (18a) for Part A/Initial proceeds and line (18b) for
Part
B/Supplemental proceeds.
Total
Realized Loss (or Amount of Any Gain)
|
23.
|
The
total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis
( ).
|
Exhibit
13-C:Calculation of Realized Loss/Gain Form
332
Prepared
by: __________________ Date: _______________
Phone: ______________________ Email
Address:_____________________
Servicer
Loan No.
|
Servicer
Name
|
Servicer
Address
|
XXXXX
FARGO BANK, N.A. Loan No._____________________________
Borrower's
Name: _________________________________________________________
Property
Address: _________________________________________________________
Liquidation
Type: REO
Sale 3rd Party
Sale Short
Sale Charge
Off
Was
this loan granted a Bankruptcy deficiency or cramdown Yes No
If
“Yes”,
provide deficiency or cramdown amount
_______________________________
Liquidation
and Acquisition Expenses:
(1)
|
Actual
Unpaid Principal Balance of Mortgage Loan
|
$
______________
|
(1)
|
(2)
|
Interest
accrued at Net Rate
|
________________
|
(2)
|
(3)
|
Accrued
Servicing Fees
|
________________
|
(3)
|
(4)
|
Attorney's
Fees
|
________________
|
(4)
|
(5)
|
Taxes
(see page 2)
|
________________
|
(5)
|
(6)
|
Property
Maintenance
|
________________
|
(6)
|
(7)
|
MI/Hazard
Insurance Premiums (see page 2)
|
________________
|
(7)
|
(8)
|
Utility
Expenses
|
________________
|
(8)
|
(9)
|
Appraisal/BPO
|
________________
|
(9)
|
(10)
|
Property
Inspections
|
________________
|
(10)
|
(11)
|
FC
Costs/Other Legal Expenses
|
________________
|
(11)
|
(12)
|
Other
(itemize)
|
________________
|
(12)
|
Cash
for Keys__________________________
|
________________
|
(12)
|
|
HOA/Condo
Fees_______________________
|
________________
|
(12)
|
|
______________________________________
|
________________
|
(12)
|
|
Total
Expenses
|
$
_______________
|
(13)
|
|
Credits:
|
|||
(14)
|
Escrow
Balance
|
$
_______________
|
(14)
|
(15)
|
HIP
Refund
|
________________
|
(15)
|
(16)
|
Rental
Receipts
|
________________
|
(16)
|
(17)
|
Hazard
Loss Proceeds
|
________________
|
(17)
|
(18)
|
Primary
Mortgage Insurance / Gov’t Insurance
|
________________
|
(18a)
|
HUD
Part A
|
|||
HUD
Part B
|
________________
|
(18b)
|
|
(19)
|
Pool
Insurance Proceeds
|
________________
|
(19)
|
(20)
|
Proceeds
from Sale of Acquired Property
|
________________
|
(20)
|
(21)
|
Other
(itemize)
|
________________
|
(21)
|
_________________________________________
|
________________
|
(21)
|
|
Total
Credits
|
$________________
|
(22)
|
|
Total
Realized Loss (or Amount of Gain)
|
$________________
|
(23)
|
Escrow
Disbursement Detail
Type
(Tax
/Ins.)
|
Date
Paid
|
Period
of Coverage
|
Total
Paid
|
Base
Amount
|
Penalties
|
Interest
|
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
||||||
|
ATTACHMENT 4
NEW
EXHIBIT 14 TO THE SERVICING AGREEMENT
SERVICING
CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The
assessment of compliance to be delivered by [the Company] [Name of Subservicer]
shall address, at a minimum, the criteria identified as below as “Applicable
Servicing Criteria”:1
Servicing
Criteria
|
Applicable
Servicing
Criteria
|
|
Reference
|
Criteria
|
|
General
Servicing Considerations
|
||
1122(d)(1)(i)
|
Policies
and procedures are instituted to monitor any performance or other
triggers
and events of default in accordance with the transaction
agreements.
|
X
|
1122(d)(1)(ii)
|
If
any material servicing activities are outsourced to third parties,
policies and procedures are instituted to monitor the third party’s
performance and compliance with such servicing activities.
|
X
|
1122(d)(1)(iii)
|
Any
requirements in the transaction agreements to maintain a back-up
servicer
for the mortgage loans are maintained.
|
|
1122(d)(1)(iv)
|
A
fidelity bond and errors and omissions policy is in effect on the
party
participating in the servicing function throughout the reporting
period in
the amount of coverage required by and otherwise in accordance with
the
terms of the transaction agreements.
|
X
|
Cash
Collection and Administration
|
||
1122(d)(2)(i)
|
Payments
on mortgage loans are deposited into the appropriate custodial bank
accounts and related bank clearing accounts no more than two business
days
following receipt, or such other number of days specified in the
transaction agreements.
|
X
|
1122(d)(2)(ii)
|
Disbursements
made via wire transfer on behalf of an obligor or to an investor
are made
only by authorized personnel.
|
X
|
1122(d)(2)(iii)
|
Advances
of funds or guarantees regarding collections, cash flows or distributions,
and any interest or other fees charged for such advances, are made,
reviewed and approved as specified in the transaction
agreements.
|
X
|
1122(d)(2)(iv)
|
The
related accounts for the transaction, such as cash reserve accounts
or
accounts established as a form of overcollateralization, are separately
maintained (e.g., with respect to commingling of cash) as set forth
in the
transaction agreements.
|
X
|
1122(d)(2)(v)
|
Each
custodial account is maintained at a federally insured depository
institution as set forth in the transaction agreements. For purposes
of
this criterion, “federally insured depository institution” with respect to
a foreign financial institution means a foreign financial institution
that
meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
Act.
|
X
|
1122(d)(2)(vi)
|
Unissued
checks are safeguarded so as to prevent unauthorized
access.
|
X
|
1122(d)(2)(vii)
|
Reconciliations
are prepared on a monthly basis for all asset-backed securities related
bank accounts, including custodial accounts and related bank clearing
accounts. These reconciliations are (A) mathematically accurate;
(B)
prepared within 30 calendar days after the bank statement cutoff
date, or
such other number of days specified in the transaction agreements;
(C)
reviewed and approved by someone other than the person who prepared
the
reconciliation; and (D) contain explanations for reconciling items.
These
reconciling items are resolved within 90 calendar days of their original
identification, or such other number of days specified in the transaction
agreements.
|
X
|
Investor
Remittances and Reporting
|
||
1122(d)(3)(i)
|
Reports
to investors, including those to be filed with the Commission2, are maintained in accordance
with the
transaction agreements and applicable Commission requirements.3 Specifically, such reports
(A) are
prepared in accordance with timeframes and other terms set forth
in the
transaction agreements; (B) provide information calculated in accordance
with the terms specified in the transaction agreements; (C) are filed
with
the Commission as required by its rules and regulations; and (D)
agree
with investors’ or the trustee’s records as to the total unpaid principal
balance and number of mortgage loans serviced by the
Servicer.
|
X
|
1122(d)(3)(ii)
|
Amounts
due to investors are allocated and remitted in accordance with timeframes,
distribution priority and other terms set forth in the transaction
agreements.
|
X
|
1122(d)(3)(iii)
|
Disbursements
made to an investor are posted within two business days to the Servicer’s
investor records, or such other number of days specified in the
transaction agreements.
|
X
|
1122(d)(3)(iv)
|
Amounts
remitted to investors per the investor reports agree with cancelled
checks, or other form of payment, or custodial bank
statements.
|
X
|
Pool
Asset Administration
|
||
1122(d)(4)(i)
|
Collateral
or security on mortgage loans is maintained as required by the transaction
agreements or related mortgage loan documents.
|
X
|
1122(d)(4)(ii)
|
Mortgage
loan and related documents are safeguarded as required by the transaction
agreements.
|
X
|
1122(d)(4)(iii)
|
Any
additions, removals or substitutions to the asset pool are made,
reviewed
and approved in accordance with any conditions or requirements in
the
transaction agreements.
|
X
|
1122(d)(4)(iv)
|
Payments
on mortgage loans, including any payoffs, made in accordance with
the
related mortgage loan documents are posted to the Servicer’s obligor
records maintained no more than two business days after receipt,
or such
other number of days specified in the transaction agreements, and
allocated to principal, interest or other items (e.g., escrow) in
accordance with the related mortgage loan documents.
|
X
|
1122(d)(4)(v)
|
The
Servicer’s records regarding the mortgage loans agree with the Servicer’s
records with respect to an obligor’s unpaid principal
balance.
|
X
|
1122(d)(4)(vi)
|
Changes
with respect to the terms or status of an obligor’s mortgage loans (e.g.,
loan modifications or re-agings) are made, reviewed and approved
by
authorized personnel in accordance with the transaction agreements
and
related pool asset documents.
|
X
|
1122(d)(4)(vii)
|
Loss
mitigation or recovery actions (e.g., forbearance plans, modifications
and
deeds in lieu of foreclosure, foreclosures and repossessions, as
applicable) are initiated, conducted and concluded in accordance
with the
timeframes or other requirements established by the transaction
agreements.
|
X
|
1122(d)(4)(viii)
|
Records
documenting collection efforts are maintained during the period a
mortgage
loan is delinquent in accordance with the transaction agreements.
Such
records are maintained on at least a monthly basis, or such other
period
specified in the transaction agreements, and describe the entity’s
activities in monitoring delinquent mortgage loans including, for
example,
phone calls, letters and payment rescheduling plans in cases where
delinquency is deemed temporary (e.g., illness or
unemployment).
|
X
|
1122(d)(4)(ix)
|
Adjustments
to interest rates or rates of return for mortgage loans with variable
rates are computed based on the related mortgage loan
documents.
|
X
|
1122(d)(4)(x)
|
Regarding
any funds held in trust for an obligor (such as escrow accounts):
(A) such
funds are analyzed, in accordance with the obligor’s mortgage loan
documents, on at least an annual basis, or such other period specified
in
the transaction agreements; (B) interest on such funds is paid, or
credited, to obligors in accordance with applicable mortgage loan
documents and state laws; and (C) such funds are returned to the
obligor
within 30 calendar days of full repayment of the related mortgage
loans,
or such other number of days specified in the transaction
agreements.
|
X
|
1122(d)(4)(xi)
|
Payments
made on behalf of an obligor (such as tax or insurance payments)
are made
on or before the related penalty or expiration dates, as indicated
on the
appropriate bills or notices for such payments, provided that such
support
has been received by the servicer at least 30 calendar days prior
to these
dates, or such other number of days specified in the transaction
agreements.
|
X4
|
1122(d)(4)(xii)
|
Any
late payment penalties in connection with any payment to be made
on behalf
of an obligor are paid from the servicer’s funds and not charged to the
obligor, unless the late payment was due to the obligor’s error or
omission.
|
X
|
1122(d)(4)(xiii)
|
Disbursements
made on behalf of an obligor are posted within two business days
to the
obligor’s records maintained by the servicer, or such other number of days
specified in the transaction agreements.
|
X
|
1122(d)(4)(xiv)
|
Delinquencies,
charge-offs and uncollectible accounts are recognized and recorded
in
accordance with the transaction agreements.
|
X
|
1122(d)(4)(xv)
|
Any
external enhancement or other support, identified in Item 1114(a)(1)
through (3) or Item 1115 of Regulation AB, is maintained as set forth
in
the transaction agreements.
|
1 Whenever
used in this Exhibit ___,
Applicable Servicing Criteria, the following words shall have the meaning
specified below:
1.
|
“asset
pool” shall mean the pool of
Mortgage Loans sold by Chevy Chase
Bank, F.S.B. (the
“Asserting Party”) to
the investor pursuant to the transaction agreements and which are
included
on Servicer’s platform.
|
2.
|
“investor”
means
the purchaser
under the then current purchase, sale and servicing agreement between
the
investor and the Asserting Party, and any assignees of the Purchaser,
including the Master
Servicer.
|
3.
|
“investor
reports” “reports to
investors” mean the reports required to be sent to the investor as
required by the transaction
agreements.
|
4.
|
“Servicer”
and
“servicer”
means
Chevy Chase Bank. F.S.B. acting in its capacity as Servicer under
the then
current purchase, sale and servicing agreement between the investor
and
the Asserting Party.
|
5.
|
“transaction
agreements” mean the
then current purchase, sale and servicing agreement between the
investor
and the Asserting Party and any AARs of such purchase, sale and
servicing
agreement.
|
2 The
Asserting Party
does not file reports
with the
Commission and takes no responsibility
for
such reports.
4
The
Servicer will
obtain an assertion of management and an accompanying 1122 attestation report
from the vendor performing such activities.
ATTACHMENT
5
EXHIBIT
12A
FORM
OF
ANNUAL CERTIFICATION
|
Re:
|
The
[
|
]
agreement dated as of [
|
l,
200[ ] (the “Agreement”), among [IDENTIFY
PARTIES]
|
I,
____________________________, the _______________________ of [NAME OF COMPANY]
(the “Company”), certify to [the Purchaser], [the Depositor], and the [Master
Servicer] [Securities Administrator] [Trustee], and their officers, with the
knowledge and intent that they will rely upon this certification,
that:
(1) I
have reviewed the servicer compliance statement of the Company provided in
accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the
Annual Independent Public Accountants’ Servicing Report (as defined in the
Agreement), and all servicing reports, officer’s certificates and other
information relating to the servicing of the Mortgage Loans by the Company
during 200[ ] that were delivered by the Company to the [Depositor] [Master
Servicer] [Securities Administrator] [Trustee] pursuant to the Agreement
(collectively, the “Company Servicing Information”);
(2) Based
on my knowledge, the Company Servicing Information, taken as a whole, does
not
contain any untrue statement of a material fact or omit to state a material
fact
necessary to make the statements made, in the light of the circumstances under
which such statements were made, not misleading with respect to the period
of
time covered by the Company Servicing Information;
(3) Based
on my knowledge, all of the Company Servicing Information required to be
provided by the Company under the Agreement has been provided to the [Depositor]
[Master Servicer] [Securities Administrator] [Trustee];
(4) I
am responsible for reviewing the activities performed by the Company as servicer
under the Agreement, and based on my knowledge and the compliance review
conducted in preparing the Compliance Statement and except as disclosed in
the
Compliance Statement and the Annual Independent Public Accountants’ Servicing
Report, the Company has fulfilled its obligations under the Agreement in all
material respects; and
(5) The
Compliance Statement required to be delivered by the Company pursuant to the
Agreement, and the Annual Independent Public Accountants’ Servicing Report
required to be provided by the Company and by any Subservicer and Subcontractor
pursuant to the Agreement, have been provided to the [Depositor] [Master
Servicer]. Any material instances of noncompliance described in such
reports have been disclosed to the [Depositor] [Master Servicer]. Any material
instance of noncompliance with the Servicing Criteria has been disclosed in
such
reports.
Date: _________________________
|
|
By: _______________________________
|
|
Name:
|
|
Title:
|
|
ASSIGNMENT,
ASSUMPTION AND RECOGNITION AGREEMENT
THIS
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this “Agreement”),
dated as of September 1, 2007, among UBS Real Estate Securities Inc., a Delaware
corporation formerly known as UBS Warburg Real Estate Securities Inc. (the
“Assignor”), Mortgage Asset Securitization Transactions, Inc. (the
“Assignee”) and Xxxxxx Savings and Loan Association, F.A. (the
“Company”):
For
good
and valuable consideration the receipt and sufficiency of which hereby are
acknowledged, and of the promises and mutual covenants herein contained, the
parties hereto hereby agree as follows:
1. a. The
Assignor hereby conveys, sells, grants, transfers and assigns to the Assignee
all of the right, title and interest (other than those rights specifically
retained by the Assignor pursuant to this Agreement) of the Assignor, as Owner,
in, to and under (a) those certain Mortgage Loans listed on Exhibit A attached
hereto (the “Mortgage Loans”) and (b) solely with respect to the
servicing provisions as they relate to the Mortgage Loans (as specified in
Section 1(c) below), that certain Master Loan Purchase and Servicing Agreement,
dated as of August 1, 2002 by and between UBS Real Estate Securities Inc.
(“Owner”) and the Company and any related amendments thereto (the
“Servicing Agreement”). For purposes of this Agreement, the
term “Servicing Agreement” includes any separate xxxx of sale, letter,
assignment and conveyance or other instrument pursuant to which Company and
Assignor effectuated the purchase and sale of any Mortgage Loan following the
execution and delivery of the Servicing Agreement.
b. The
Assignor specifically reserves and does not assign to the Assignee hereunder
any
and all right, title and interest in, to and under and all obligations of the
Assignor with respect to any mortgage loans subject to the Servicing Agreement
which are not the Mortgage Loans set forth on Exhibit A attached hereto and
are
not the subject of this Agreement.
c. The
Assignor specifically reserves and does not assign to the Assignee hereunder
those rights under the Servicing Agreement that do not relate to the servicing
of the Mortgage Loans (including without limitation, the representations and
warranties made by the Company and the document delivery requirements of the
Company and the remedies (including indemnification) available for breaches
thereof).
2. The
Assignor warrants and represents to the Assignee and the Company as of the
date
hereof:
a. Attached
hereto as Exhibit B is a true and accurate copy of the Servicing Agreement,
which agreement is in full force and effect as of the date hereof and the
provisions of which have not been waived, amended or modified in any respect,
nor has any notice of termination been given thereunder;
b. The
Assignor was the lawful owner of the Mortgage Loans with full right to transfer
the Mortgage Loans and any and all of its interests, rights and obligations
under the Servicing Agreement as they relate to the Mortgage Loans, free and
clear from any and all claims and encumbrances; and upon the transfer of the
Mortgage Loans to the Assignee as contemplated herein, the Assignee shall have
good title to each and every Mortgage Loan, a well as any and all of the
Assignee’s interests, rights and obligations under the Servicing Agreement as
they relate to the Mortgage Loans, free and clear of any and all liens, claims
and encumbrances;
c. There
are
no offsets, counterclaims or other defenses available to the Company with
respect to the Mortgage Loans or the Servicing Agreement;
d. The
Assignor has no knowledge of, and has not received notice of, any waivers under,
or any modification of, any Mortgage Loan;
e. The
Assignor is duly organized, validly existing and in good standing under the
laws
of the jurisdiction of its incorporation, and has all requisite power and
authority to acquire, own and sell the Mortgage Loans;
f. The
Assignor has full corporate power and authority to execute, deliver and perform
its obligations under this Agreement, and to consummate the transactions set
forth herein. The consummation of the transactions contemplated by this
Agreement is in the ordinary course of the Assignor’s business and will not
conflict with, or result in a breach of, any of the terms, conditions or
provisions of the Assignor’s charter or by-laws or any legal restriction, or any
material agreement or instrument to which the Assignor is now a party or by
which it is bound, or result in the violation of any law, rule, regulation,
order, judgment or decree to which the Assignor or its property is
subject. The execution, delivery and performance by the Assignor of
this Agreement and the consummation by it of the transactions contemplated
hereby, have been duly authorized by all necessary corporate action on part
of
the Assignor. This Agreement has been duly executed and delivered by the
Assignor and, upon the due authorization, execution and delivery by the Assignee
and the Company, will constitute the valid and legally binding obligation of
the
Assignor enforceable against the Assignor in accordance with its terms except
as
enforceability may be limited by bankruptcy, reorganization, insolvency,
moratorium or other similar laws now or hereafter in effect relating to
creditors’ rights generally, and by general principles of equity regardless of
whether enforceability is considered in a proceeding in equity or at
law;
g. No
consent, approval, order or authorization of, or declaration, filing or
registration with, any governmental entity is required to be obtained or made
by
the Assignor in connection with the execution, delivery or performance by the
Assignor of this Agreement, or the consummation by it of the transactions
contemplated hereby. Neither the Assignor nor anyone acting on its behalf has
offered, transferred, pledged, sold or otherwise disposed of the Mortgage Loans
or any interest in the Mortgage Loans, or solicited any offer to buy or accept
a
transfer, pledge or other disposition of the Mortgage Loans, or any interest
in
the Mortgage Loans or otherwise approached or negotiated with respect to the
Mortgage Loans, or any interest in the Mortgage Loans 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 “1933 Act”) or which would render the disposition of the Mortgage
Loans a violation of Section 5 of the 1933 Act or require registration pursuant
thereto; and
h. The
Assignor has received from the Company, and has delivered to the Assignee,
all
documents required to be delivered to the Assignor by the Company prior to
the
date hereof pursuant to the Servicing Agreement with respect to the Mortgage
Loans and has not received, and has not requested from the Company, any
additional documents.
3. The
Assignee warrants and represents to, and covenants with, the Assignor and the
Company that:
a. The
Assignee is a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, and has all requisite
power and authority to acquire, own and purchase the Mortgage
Loans;
b. The
Assignee has full power and authority to execute, deliver and perform under
this
Agreement, and to consummate the transactions set forth herein. The execution,
delivery and performance of the Assignee of this Agreement, and the consummation
by it of the transactions contemplated hereby, have been duly authorized by
all
necessary corporate action of the Assignee. This Agreement has been duly
executed and delivered by the Assignee and constitutes the valid and legally
binding obligation of the Assignee enforceable against the Assignee in
accordance with its respective terms;
c. To
the
best of Assignee’s knowledge, no material consent, approval, order or
authorization of, or declaration, filing or registration with, any governmental
entity is required to be obtained or made by the Assignee in connection with
the
execution, delivery or performance by the Assignee of this Agreement, or the
consummation by it of the transactions contemplated hereby; and
d. The
Assignee agrees to be bound, as Purchaser, by all of the terms, covenants and
conditions of the Servicing Agreement and the Mortgage Loans, and from and
after
the date hereof, the Assignee assumes for the benefit of each of the Company
and
the Assignor all of the Assignor’s obligations as Purchaser thereunder, with
respect to the Mortgage Loans.
4. The
Company warrants and represents to, and covenants with, the Assignor and the
Assignee as of the date hereof:
a. Attached
hereto as Exhibit B is a true and accurate copy of the Servicing Agreement,
which agreement is in full force and effect as of the date hereof and the
provisions of which have not been waived, amended or modified in any respect,
nor has any notice of termination been given thereunder;
b. The
Company is duly organized, validly existing and in good standing under the
laws
of the jurisdiction of its incorporation, and has all requisite power and
authority to service the Mortgage Loans and otherwise to perform its obligations
under the Servicing Agreement;
c. The
Company has full corporate power and authority to execute, deliver and perform
its obligations under this Agreement, and to consummate the transactions set
forth herein. The consummation of the transactions contemplated by
this Agreement is in the ordinary course of the Company’s business and will not
conflict with, or result in a breach of, any of the terms, conditions or
provisions of the Company’s charter or by-laws or any legal restriction, or any
material agreement or instrument to which the Company is now a party or by
which
it is bound, or result in the violation of any law, rule, regulation, order,
judgment or decree to which the Company or its property is subject. The
execution, delivery and performance by the Company of this Agreement and the
consummation by it of the transactions contemplated hereby, have been duly
authorized by all necessary corporate action on part of the Company. This
Agreement has been duly executed and delivered by the Company, and, upon the
due
authorization, execution and delivery by the Assignor and the Assignee, will
constitute the valid and legally binding obligation of the Company, enforceable
against the Company in accordance with its terms except as enforceability may
be
limited by bankruptcy, reorganization, insolvency, moratorium or other similar
laws now or hereafter in effect relating to creditors’ rights generally, and by
general principles of equity regardless of whether enforceability is considered
in a proceeding in equity or at law;
d. No
consent, approval, order or authorization of, or declaration, filing or
registration with, any governmental entity is required to be obtained or made
by
the Company in connection with the execution, delivery or performance by the
Company of this Agreement, or the consummation by it of the transactions
contemplated hereby;
e. The
Company shall establish a Custodial Account and an Escrow Account under the
Servicing Agreement in favor of the Assignee, or its designee with respect
to
the Mortgage Loans separate from the Custodial Account and Escrow Account
previously established under the Servicing Agreement in favor of the Assignor;
and
f. If
any
Mortgage has been recorded in the name of Mortgage Electronic Registration
System, Inc. (“MERS”) or its designee, the Company shall take all actions
as are necessary to cause MASTR Alternative Loan Trust 2007-HF1 to be shown
as
the owner of the related Mortgage Loan on the record of MERS for the purpose
of
the system of recording transfers of beneficial ownership of mortgage maintained
by MERS.
Recognition
by the Company of the Trustee and the Trust Administrator
5. The
Company hereby recognizes that the Mortgage Loans will be transferred by the
Assignee to U.S. Bank National Association as Trustee for the holders of MASTR
Alternative Loan Trust 2007-HF1 (including its successors in interest and any
successor trustee under the Pooling Agreement defined below, the
“Trustee”) in a securitization transaction pursuant to a Pooling and
Servicing Agreement, dated as of September 1, 2007 (the “Pooling
Agreement”), among the Assignee, the Assignor, the Trustee and Xxxxx Fargo
Bank, N.A., as master servicer (the “Master Servicer”), trust
administrator (the “Trust Administrator”), as custodian and as credit
risk manager. From and after the date hereof, the Company
acknowledges and agrees that (A) the Trustee will be the owner of the
Mortgage Loans on behalf of MASTR Alternative Loan Trust 2007-HF1 (the
“Trust”), and Xxxxx Fargo Bank, N.A., will be the Master Servicer, Trust
Administrator and custodian of the Mortgage Loans, (B) the Company shall
look solely to the Trustee and the Trust Administrator, on behalf of the Trust,
for performance of any obligations of the Assignor insofar as they relate to
the
Mortgage Loans and (C) the Mortgage Loans will be part of a “real estate
mortgage investment conduit” within the meaning of Section 860D of the Code
(“REMIC”), and the Company shall service the Mortgage Loans and any real
property acquired upon default thereof (including, without limitation, making
or
permitting any modification, waiver or amendment of any term of any Mortgage
Loan) in accordance with the Servicing Agreement but in no event in a manner
that would (i) cause the REMIC to fail to qualify as a REMIC or (ii) result
in the imposition of a tax upon the REMIC (including but not limited to the
tax
on prohibited transactions as defined in Section 860F(a)(2) of the Code, the
tax
on contributions to a REMIC set forth in Section 860G(d) of the Code, and the
tax on “net income from foreclosure property” as set forth in Section 860G(c) of
the Code).
Indemnity
by the Company to the Trust:
6. The
Company hereby agrees to indemnify and hold harmless the Assignor, the Assignee
and the Trust (collectively the “Indemnified Parties”) from and against
any and all losses, claims, expenses, damages or liabilities to which the
Indemnified Parties, their respective officers or directors and any such
controlling person may become subject, as and when such losses, claims,
expenses, damages or liabilities are incurred, insofar as such losses, claims,
expenses, damages or liabilities (or actions in respect thereof) arise out
of or
are based upon any breach of the representation and warranty set forth in the
Servicing Agreement to the extent that such breach relates to the origination
and servicing of Mortgage Loans in compliance with the Georgia Fair Lending
Act.
Modification
of the Servicing Agreement
7. Only
insofar as it relates to the Mortgage Loans, the parties hereto hereby amend
the
Servicing Agreement as follows:
(i) The
following paragraph is added immediately following the last paragraph of Section
4:
“Custodial
Accounts shall be Eligible Accounts and funds on deposit in the Custodial
Account shall only be invested in Permitted Investments.”
(ii) The
definition of “Eligible Account” is hereby deleted in its entirety and replaced
by the following:
Eligible
Account: An account that is either:
(a) maintained
with a federal or state-chartered depository institution or trust company that
is an Eligible Institution; or
(b) maintained
with the corporate trust department of a federal depository institution or
state-chartered depository institution subject to regulations regarding
fiduciary funds on deposit similar to Title 12 of U.S. Code of Federal
Regulation Section 9.10(b), which, in either case, has corporate trust powers
and is acting in its fiduciary capacity.
(iii) The
definition of “Eligible Institution” is hereby deleted in its entirety and
replaced by the following:
Eligible
Institution: An institution whose commercial paper, short-term
debt obligations, demand deposits, or other short-term deposits are rated at
least “A-2” by S&P; provided, however, upon the loss of this
required rating, the Seller shall immediately transfer funds in the Custodial
Account to an institution which meets the above requirement.
(iv) The
definition of “Whole Loan Transfer” is hereby deleted in its entirety and
replaced by the following:
Whole
Loan Transfer: Any sale or transfer of some or all of the Mortgage Loans,
other than a Securitization Transaction.
(v) The
second paragraph of Section 11.01 is hereby deleted in its entirety and replaced
by the following:
Consistent
with the terms of this
Agreement, the Seller may waive, modify or vary any term of any Loan or consent
to the postponement of strict compliance with any such term or in any manner
grant indulgence to any Borrower if in the Seller’s reasonable and prudent
determination such waiver, modification, postponement or indulgence is not
materially adverse to the Purchaser; provided, however, that without the prior
written consent of the Purchaser, the Seller shall not permit any modification
with respect to any Loan that would change the Loan Interest Rate, defer or
forgive the payment thereof or of any principal or interest payments, reduce
the
outstanding principal amount (except for actual payments of principal), make
additional advances of additional principal , affect the amortization
schedule of such Loan or extend the final maturity date on such
Loan. Notwithstanding the foregoing, in the event that any Loan is in
default or, in the judgment of the Seller, such default is reasonably
foreseeable, the Seller, consistent with the standards set forth in this Section
(i), may also waive, modify or vary any term of such Loan (including
modifications that would change the Mortgage Interest Rate, forgive the payment
of principal or interest or extend the final maturity date of such Loan, accept
payment from the related Mortgagor of an amount less than the Stated Principal
Balance in final satisfaction of such Loan (such payment, a “Short Pay-off”) or
consent to the postponement of strict compliance with any such term or otherwise
grant indulgence to any Mortgagor; provided that, in the judgment of the Seller,
any such modification, waiver or amendment could reasonably be expected to
result in collections and other recoveries in respect of such Loan in excess
of
net Liquidation Proceeds that would be recovered upon the foreclosure of, or
other realization upon, such Loan and provided further, that on or after the
date on which the Credit Risk Manager makes available on its monthly report
(the
“CRM Report”) that the aggregate number of outstanding Loans which have been
modified (excluding for this purpose any waivers of a Loan pursuant to this
sentence) exceeds 5% of the number of Loans as of the Cut-off Date, any further
modification of a Loan pursuant to this Section 11.01 shall require the prior
written consent of the NIMS Insurer. Without limiting the generality of
the foregoing, the Seller shall continue, and is hereby authorized and
empowered, to execute and deliver on behalf of itself, and the Purchaser, all
instruments of satisfaction or cancellation, or of partial or full release,
discharge and all other comparable instruments, with respect to the Loans.
If
reasonably required by the Seller, the Purchaser shall furnish the Seller with
any powers of attorney and other documents necessary or appropriate to enable
the Seller to carry out its servicing and administrative duties under this
Agreement. Promptly after the execution of any modification of any Loan
pursuant to this Section 11.01, the Seller shall forward to the Master Servicer,
the Credit Risk Manager and the NIMS Insurer, copies of any documents evidencing
such modification. Such notification of modifications shall be delivered
to the NIMS Insurer to the attention of Xxxxxxxxxxx X. Xxxxxx, Senior Vice
President Capital Markets and marked “Urgent”. The Seller shall forward
copies of such foregoing documentation in electronic format (or, upon request
of
either the Credit Risk Manager or the NIMS Insurer in hard copy format).
In connection with the delivery of copies of such documentation to the NIMS
Insurer and the Credit Risk Manager, the Master Servicer shall have no
obligation to verify, recompute, reconcile, recalculate or reformat any
information or data provided therein prior to its delivery to the NIMS Insurer
and the Credit Risk Manager and shall not have any liability to either the
NIMS
Insurer or the Credit Risk Manager for any errors or omissions with respect
to
such documentation. The Credit Risk Manager shall not have any liability
to the NIMS Insurer for any errors or omissions with respect to such
documentation or for the failure of the Master Servicer or Servicer to provide
such information in a timely manner.
(vi) Section
11.15 (“Remittance Reports”) of the Servicing Agreement is hereby deleted in its
entirety and replaced by the following:
On
or before the tenth calendar day of
each month (or if such day is not a Business Day, the immediately preceding
Business Day), the Company shall furnish to the Owner or its designee, in a
mutually agreeable electronic format, all of the data fields in Exhibit 13-1,
Exhibit 13-2 and Exhibit 13-3, in the form set forth in each such exhibit or
in
such other format as the parties shall mutually agree, as to the latest Due
Period, together with such other information with respect to the Loans as the
Purchaser may reasonably require to allocate distributions made pursuant to
this
Agreement and to provide appropriate statements in connection
therewith.
(vii) Exhibits
13-1, 13-2 and 13-3 to the Servicing Agreement are hereby added immediately
following Exhibit 12, substantially in the form of Exhibit E to this
Agreement.
(viii) The
following definitions are added to Section 1 of the Servicing
Agreement:
Commission:
The United States Securities and Exchange Commission.
Company
Information: As defined in Subsection 11.A.07(a).
Depositor:
The depositor, as such term is defined in Regulation AB, with respect to any
Securitization Transaction.
Exchange
Act: The Securities Exchange Act of 1934, as amended.
Master
Servicer: With respect to any Securitization Transaction, the “master
servicer,” if any, identified in the related transaction documents.
Permitted
Investments: At any time, any one or more of the following
obligations and securities:
(a) obligations
of the United States or any agency thereof, provided such obligations are backed
by the full faith and credit of the United States;
(b) general
obligations of or obligations guaranteed by any state of the United States
or
the District of Columbia receiving the highest long-term debt rating of each
Rating Agency, or such lower rating as will not result in the downgrading or
withdrawal of the ratings then assigned to the Certificates by either Rating
Agency;
(c) commercial
or finance company paper which is then receiving the highest commercial or
finance company paper rating of each Rating Agency, or such lower rating as
will
not result in the downgrading or withdrawal of the ratings then assigned to
the
Certificates by either Rating Agency;
(d) certificates
of deposit, demand or time deposits, or bankers’ acceptances issued by any
depository institution or trust company incorporated under the laws of the
United States or of any state thereof and subject to supervision and examination
by federal and/or state banking authorities, provided that the commercial paper
and/or long term unsecured debt obligations of such depository institution
or
trust company are then rated in one of the two highest long-term and the highest
short-term ratings of each Rating Agency for such securities, or such lower
ratings as will not result in the downgrading or withdrawal of the rating then
assigned to the Certificates by either Rating Agency;
(e) demand
or
time deposits or certificates of deposit issued by any bank or trust company
or
savings institution to the extent that such deposits are fully insured by the
FDIC and are then rated in the highest long-term and the highest short-term
ratings of each Rating Agency for such securities, or such lower ratings as
will
not result in the downgrading or withdrawal of the ratings then assigned to
the
Certificates by either Rating Agency;
(f) guaranteed
reinvestment agreements issued by any bank, insurance company or other
corporation containing, at the time of the issuance of such agreements, such
terms and conditions as will not result in the downgrading or withdrawal of
the
rating then assigned to the Certificates by either Rating Agency;
(g) repurchase
obligations with respect to any security described in clauses (a) and
(b) above, in either case entered into with a depository institution or
trust company (acting as principal) described in clause (d)
above;
(h) securities
(other than stripped bonds, stripped coupons or instruments sold at a purchase
price in excess of 115% of the face amount thereof) bearing interest or sold
at
a discount issued by any corporation incorporated under the laws of the United
States or any state thereof which, at the time of such investment, have the
highest rating of each Rating Agency, or such lower rating as will not result
in
the downgrading or withdrawal of the rating then assigned to the Certificates
by
either Rating Agency, as evidenced by a signed writing delivered by each Rating
Agency;
(i) units
of
a taxable money-market portfolio having the highest rating assigned by each
Rating Agency and restricted to obligations issued or guaranteed by the United
States of America or entities whose obligations are backed by the full faith
and
credit of the United States of America and repurchase agreements collateralized
by such obligations;
(j) any
mutual fund, money market fund, common trust fund or other pooled investment
vehicle, the assets of which are limited to instruments that otherwise would
constitute Permitted Investments hereunder, including any such fund that is
managed by the Trustee or Master Servicer or any affiliate of the Trustee or
Master Servicer or for which the Trustee or Master Servicer or any affiliate
of
the Trustee or Master Servicer acts as an adviser as long as such fund is rated
in at least the highest rating category by each Rating Agency (if so rated
by
such Rating Agency); and
(k) such
other investments bearing interest or sold at a discount acceptable to each
Rating Agency as will not result in the downgrading or withdrawal of the rating
then assigned to the Certificates by either Rating Agency, as evidenced by
a
signed writing delivered by each Rating Agency;
provided
that no such instrument shall be a Permitted Investment if such instrument
evidences the right to receive interest only payments with respect to the
obligations underlying such instrument.
Qualified
Correspondent: Any Person from which the Company purchased Mortgage Loans,
provided that the following conditions are satisfied: (i) such Mortgage Loans
were originated pursuant to an agreement between the Company and such Person
that contemplated that such Person would underwrite mortgage loans from time
to
time, for sale to the Company, in accordance with underwriting guidelines
designated by the Company (“Designated Guidelines”) or guidelines that do not
vary materially from such Designated Guidelines; (ii) such Mortgage Loans were
in fact underwritten as described in clause (i) above and were acquired by
the
Company within 180 days after origination; (iii) either (x) the Designated
Guidelines were, at the time such Mortgage Loans were originated, used by the
Company in origination of mortgage loans of the same type as the Mortgage Loans
for the Company’s own account or (y) the Designated Guidelines were, at the time
such Mortgage Loans were underwritten, designated by the Company on a consistent
basis for use by lenders in originating mortgage loans to be purchased by the
Company; and (iv) the Company employed, at the time such Mortgage Loans were
acquired by the Company, pre-purchase or post-purchase quality assurance
procedures (which may involve, among other things, review of a sample of
mortgage loans purchased during a particular time period or through particular
channels) designed to ensure that Persons from which it purchased mortgage
loans
properly applied the underwriting criteria designated by the
Company.
Rating
Agency: (i) Xxxxx’x, (ii) S&P and/or (iii) Fitch, Inc., or
any successor thereto.
Reconstitution:
Any Securitization Transaction or Whole Loan Transfer.
Regulation
AB: Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1123, as such may be amended from time to time, and subject to
such clarification and interpretation as have been provided by the Commission
in
the adopting release (Asset-Backed Securities, Securities Act Release No.
33-8518, 70 Fed. Reg. 1,506-1,631 (Jan. 7, 2005)) or by the staff of the
Commission, or as may be provided by the Commission or its staff from time
to
time.
Securities
Act: The Securities Act of 1933, as amended.
Securitization
Transaction: Any transaction involving either (1) a sale or other transfer
of some or all of the Mortgage Loans directly or indirectly to an issuing entity
in connection with an issuance of publicly offered or privately placed, rated
or
unrated mortgage-backed securities or (2) an issuance of publicly offered or
privately placed, rated or unrated securities, the payments on which are
determined primarily by reference to one or more portfolios of residential
mortgage loans consisting, in whole or in part, of some or all of the Mortgage
Loans.
Servicer:
For purposes of Section 11.A, as defined in Subsection 11.A.03(d).
Servicing
Criteria: The “servicing criteria” set forth in Item 1122(d) of Regulation
AB, as such may be amended from time to time.
Static
Pool Information: Static pool information as described in Item
1105(a)(1)-(3) and 1105(c) of Regulation AB.
Subcontractor:
Any vendor, subcontractor or other Person that is not responsible for the
overall servicing (as “servicing” is commonly understood by participants in the
mortgage-backed securities market) of Mortgage Loans but performs one or more
discrete functions identified in Item 1122(d) of Regulation AB with respect
to
Mortgage Loans under the direction or authority of the Company or a
Subservicer.
Subservicer:
Any Person that services Mortgage Loans on behalf of the Company or any
Subservicer and is responsible for the performance (whether directly or through
Subservicers or Subcontractors) of a substantial portion of the material
servicing functions required to be performed by the Company under this Agreement
or any Reconstitution Agreement that are identified in Item 1122(d) of
Regulation AB.
Third-Party
Originator: Each Person, other than a Qualified Correspondent, that
originated Mortgage Loans acquired by the Company. A wholesale broker
for the Company shall not be deemed for purposes of this Agreement to be a
Third-Party Originator.
(ix) The
following new Section 11.A is added to the Servicing Agreement:
SECTION
11.A
COMPLIANCE
WITH REGULATION AB
Subsection
11.A.01. Intent of the Parties; Reasonableness.
The
Owner
and the Company acknowledge and agree that the purpose of Section 11.A of this
Agreement is to facilitate compliance by the Owner and any Depositor with the
provisions of Regulation AB and related rules and regulations of the Commission.
Neither the Owner nor any Depositor shall exercise its right to request delivery
of information or other performance under these provisions other than in good
faith, or for purposes other than compliance with the Securities Act, the
Exchange Act and the Sarbanes – Oxley Act and, in each case, and the rules and
regulations of the Commission thereunder. The Company acknowledges that
interpretations of the requirements of Regulation AB may change over time,
whether due to interpretive guidance provided by the Commission or its staff,
consensus among participants in the asset-backed securities markets, advice
of
counsel, or otherwise, and agrees to comply with requests made by the Owner,
any
Master Servicer or any Depositor in good faith for delivery of information
under
these provisions on the basis of evolving interpretations of Regulation AB.
In
connection with any Securitization Transaction, the Company shall cooperate
fully with the Owner and any Master Servicer to deliver to the Owner (including
any of its assignees or designees), any Master Servicer and any Depositor,
any
and all statements, reports, certifications, records and any other information
reasonably believed to be necessary in the good faith determination of the
Owner, the Master Servicer or any Depositor to permit the Owner, such Master
Servicer or such Depositor to comply with the provisions of Regulation AB,
together with such disclosures relating to the Company, any Subservicer, any
Third-Party Originator and the Mortgage Loans, or the servicing of the Mortgage
Loans, reasonably believed by the Owner or any Depositor to be necessary in
order to effect such compliance.
The
obligations identified in this Section 11.A shall apply to the Company
notwithstanding (i) the failure of the Company to qualify as a “servicer” under
Item 1101 of Regulation AB, (ii) the inapplicability of Item 1108 to the
Company, and (iii) the failure of the Company to qualify as a party
participating in the servicing function as set forth in Item 1122 of Regulation
AB.
The
Owner
(including any of its assignees or designees) shall cooperate with the Company
by providing timely notice of requests for information under these provisions
and by reasonably limiting such requests to information required, in the Owner’s
reasonable judgment, to comply with Regulation AB.
Subsection
11.A.02. Additional Representations and Warranties of the
Company.
(a) The
Company hereby represents to the Owner, to any Master Servicer and to any
Depositor, as of the date on which information is first provided to the Owner,
any Master Servicer or any Depositor under Subsection 11.A.03 that, except
as
disclosed in writing to the Owner, such Master Servicer or such Depositor prior
to such date: (i) the Company is not aware and has not received notice that
any
default, early amortization or other performance triggering event has occurred
as to any other securitization due to any act or failure to act of the Company;
(ii) the Company has not been terminated as servicer in a residential mortgage
loan securitization, either due to a servicing default or to application of
a
servicing performance test or trigger; (iii) no material noncompliance with
the
applicable Servicing Criteria with respect to other securitizations of
residential mortgage loans involving the Company as servicer has been disclosed
or reported by the Company; (iv) no material changes to the Company’s policies
or procedures with respect to the servicing function it will perform under
this
Agreement and any Reconstitution Agreement for mortgage loans of a type similar
to the Mortgage Loans have occurred during the three-year period immediately
preceding the related Securitization Transaction; (v) there are no aspects
of
the Company’s financial condition that could have a material adverse effect on
the performance by the Company of its servicing obligations under this Agreement
or any Reconstitution Agreement; (vi) there are no material legal or
governmental proceedings pending (or known to be contemplated) against the
Company, any Subservicer or any Third-Party Originator; and (vii) there are
no
affiliations, relationships or transactions relating to the Company, any
Subservicer or any Third-Party Originator with respect to any Securitization
Transaction and any party thereto identified by the related Depositor of a
type
described in Item 1119 of Regulation AB.
(b) If
so requested by the Owner, any Master Servicer or any Depositor on any date
following the date on which information is first provided to the Owner, any
Master Servicer or any Depositor under Subsection 11.A.03, the Company shall,
within five Business Days following such request, confirm in writing the
accuracy of the representations and warranties set forth in paragraph (a) of
this Section or, if any such representation and warranty is not accurate as
of
the date of such request, provide reasonably adequate disclosure of the
pertinent facts, in writing, to the requesting party.
Subsection
11.A.03. Information to Be Provided by the Company.
In
connection with any Securitization Transaction the Company shall (i) within
five
(5) Business Days following request by the Owner or any Depositor, provide
to
the Owner and such Depositor (or, as applicable, cause each Third-Party
Originator and each Subservicer to provide), in writing and in form and
substance reasonably satisfactory to the Owner and such Depositor, the
information and materials specified in paragraphs (a), (b), (c), (f) and (g)
of
this Section, and (ii) as promptly as practicable following notice to or
discovery by the Company, provide to the Owner and any Depositor (in writing
and
in form and substance reasonably satisfactory to the Owner and such Depositor)
the information specified in paragraph (d) of this Section.
a. If
so requested by the Owner or any Depositor, the Company shall provide such
information regarding (i) the Company, as originator of the Mortgage Loans
(including as an acquirer of Mortgage Loans from a Qualified Correspondent),
or
(ii) each Third-Party Originator, and (iii) as applicable, each Subservicer,
as
is requested for the purpose of compliance with Items 1103(a)(1), 1105, 1110,
1117 and 1119 of Regulation AB. Such information shall include, at a
minimum:
(i) the
originator’s form of organization;
(ii) a
description of the originator’s origination program and how long the originator
has been engaged in originating residential mortgage loans, which description
shall include a discussion of the originator’s experience in originating
mortgage loans of a similar type as the Mortgage Loans; information regarding
the size and composition of the originator’s origination portfolio; and
information that may be material, in the good faith judgment of the Owner or
any
Depositor, to an analysis of the performance of the Mortgage Loans, including
the originators’ credit-granting or underwriting criteria for mortgage loans of
similar type(s) as the Mortgage Loans and such other information as the Owner
or
any Depositor may reasonably request for the purpose of compliance with Item
1110(b)(2) of Regulation AB;
(iii) a
description of any material legal or governmental proceedings pending (or known
to be contemplated) against the Company, each Third-Party Originator and each
Subservicer; and
(iv) a
description of any affiliation or relationship between the Company, each
Third-Party Originator, each Subservicer and any of the following parties to
a
Securitization Transaction, as such parties are identified to the Company by
the
Owner or any Depositor in writing in advance of such Securitization
Transaction:
(1) the
sponsor;
(2) the
depositor;
(3) the
issuing entity;
(4) any
servicer;
(5) any
trustee;
(6) any
originator;
(7) any
significant obligor;
(8) any
enhancement or support provider; and
(9) any
other material transaction party.
b. If
so requested by the Owner or any Depositor, the Company shall provide (or,
as
applicable, cause each Third-Party Originator to provide) Static Pool
Information with respect to the mortgage loans (of a similar type as the
Mortgage Loans, as reasonably identified by the Owner as provided below)
originated by (i) the Company, if the Company is an originator of Mortgage
Loans
(including as an acquirer of Mortgage Loans from a Qualified Correspondent),
and/or (ii) each Third-Party Originator. Such Static Pool Information shall
be
prepared by the Company (or Third-Party Originator) on the basis of its
reasonable, good faith interpretation of the requirements of Item 1105(a)(1)-(3)
of Regulation AB. To the extent that there is reasonably available to the
Company (or Third-Party Originator) Static Pool Information with respect to
more
than one mortgage loan type, the Owner or any Depositor shall be entitled to
specify whether some or all of such information shall be provided pursuant
to
this paragraph. The content of such Static Pool Information may be in the form
customarily provided by the Company, and need not be customized for the Owner
or
any Depositor. Such Static Pool Information for each vintage origination year
or
prior securitized pool, as applicable, shall be presented in increments no
less
frequently than quarterly over the life of the mortgage loans included in the
vintage origination year or prior securitized pool. The most recent periodic
increment must be as of a date no later than 135 days prior to the date of
the
prospectus or other offering document in which the Static Pool Information
is to
be included or incorporated by reference. The Static Pool Information shall
be
provided in an electronic format that provides a permanent record of the
information provided, such as a portable document format (pdf) file, or other
such electronic format reasonably required by the Owner or the Depositor, as
applicable.
If
so
requested by the Owner or any Depositor, the Company shall provide (or, as
applicable, cause each Third-Party Originator to provide), at the expense of
the
requesting party (to the extent of any additional incremental expense associated
with delivery pursuant to this Agreement), such statements and agreed-upon
procedures letters of certified public accountants reasonably acceptable to
the
Owner or Depositor, as applicable, pertaining to Static Pool Information
relating to prior securitized pools for securitizations closed on or after
January 1, 2006 or, in the case of Static Pool Information with respect to
the
Company’s or Third-Party Originator’s originations or purchases, to calendar
months commencing January 1, 2006, as the Owner or such Depositor shall
reasonably request. Such statements and letters shall be addressed to and be
for
the benefit of such parties as the Owner or such Depositor shall designate,
which may include, by way of example, any Sponsor, any Depositor and any broker
dealer acting as underwriter, placement agent or initial Owner with respect
to a
Securitization Transaction. Any such statement or letter may take the form
of a
standard, generally applicable document accompanied by a reliance letter
authorizing reliance by the addressees designated by the Owner or such
Depositor.
c. If
so requested by the Owner or any Depositor, the Company shall provide such
information regarding the Company, as servicer of the Mortgage Loans, and each
Subservicer (each of the Company and each Subservicer, for purposes of this
paragraph, a “Servicer”), as is requested for the purpose of compliance with
Items 1108, 1117 and 1119 of Regulation AB. Such information shall include,
at a
minimum:
(i) the
Servicer’s form of organization;
(ii) a
description of how long the Servicer has been servicing residential mortgage
loans; a general discussion of the Servicer’s experience in servicing assets of
any type as well as a more detailed discussion of the Servicer’s experience in,
and procedures for, the servicing function it will perform under this Agreement
and any Reconstitution Agreements; information regarding the size, composition
and growth of the Servicer’s portfolio of residential mortgage loans of a type
similar to the Mortgage Loans and information on factors related to the Servicer
that may be material, in the good faith judgment of the Owner or any Depositor,
to any analysis of the servicing of the Mortgage Loans or the related
asset-backed securities, as applicable, including, without
limitation:
(A) whether
any prior securitizations of mortgage loans of a type similar to the Mortgage
Loans involving the Servicer have defaulted or experienced an early amortization
or other performance triggering event because of servicing during the three-year
period immediately preceding the related Securitization
Transaction;
(B) the
extent of outsourcing the Servicer utilizes;
(C) whether
there has been previous disclosure of material noncompliance with the applicable
servicing criteria with respect to other securitizations of residential mortgage
loans involving the Servicer as a servicer during the three-year period
immediately preceding the related Securitization Transaction and which is
required to be disclosed for Regulation AB purposes;
(D) whether
the Servicer has been terminated as servicer in a residential mortgage loan
securitization, either due to a servicing default or to application of a
servicing performance test or trigger; and
(E) such
other information as the Owner or any Depositor may reasonably request for
the
purpose of compliance with Item 1108(b)(2) of Regulation AB;
(iii) a
description of any material changes during the three-year period immediately
preceding the related Securitization Transaction to the Servicer’s policies or
procedures with respect to the servicing function it will perform under this
Agreement and any Reconstitution Agreements for mortgage loans of a type similar
to the Mortgage Loans;
(iv) information
regarding the Servicer’s financial condition, to the extent that there is a
material risk that an adverse financial event or circumstance involving the
Servicer could have a material adverse effect on the performance by the Company
of its servicing obligations under this Agreement or any Reconstitution
Agreement;
(v) information
regarding advances made by the Servicer on the Mortgage Loans and the Servicer’s
overall servicing portfolio of residential mortgage loans for the three-year
period immediately preceding the related Securitization Transaction, which
may
be limited to a statement by an authorized officer of the Servicer to the effect
that the Servicer has made all advances required to be made on residential
mortgage loans serviced by it during such period, or, if such statement would
not be accurate, information regarding the percentage and type of advances
not
made as required, and the reasons for such failure to advance;
(vi) a
description of the Servicer’s processes and procedures designed to address any
special or unique factors involved in servicing loans of a similar type as
the
Mortgage Loans;
(vii) a
description of the Servicer’s processes for handling delinquencies, losses,
bankruptcies and recoveries, such as through liquidation of mortgaged
properties, sale of defaulted mortgage loans or workouts;
(viii) information
as to how the Servicer defines or determines delinquencies and charge-offs,
including the effect of any grace period, re-aging, restructuring, partial
payments considered current or other practices with respect to delinquency
and
loss experience;
(ix) a
description of any material legal or governmental proceedings pending (or known
to be contemplated) against the Servicer; and
(x) a
description of any affiliation or relationship between the Servicer and any
of
the following parties to a Securitization Transaction, as such parties are
identified to the Servicer by the Owner or any Depositor in writing in advance
of such Securitization Transaction:
(1) the
sponsor;
(2) the
depositor;
(3) the
issuing entity;
(4) any
servicer;
(5) any
trustee;
(6) any
originator;
(7) any
significant obligor;
(8) any
enhancement or support provider; and
(9) any
other material transaction party.
(d) For
the purpose of satisfying the reporting obligation under the Exchange Act with
respect to any class of asset-backed securities, the Company shall (or shall
cause each Subservicer and Third-Party Originator to) (i) provide prompt notice
to the Owner, any Master Servicer and any Depositor in writing of (A) any
material litigation or governmental proceedings involving the Company, any
Subservicer or any Third-Party Originator, (B) any affiliations or relationships
that develop following the closing date of a Securitization Transaction between
the Company, any Subservicer or any Third-Party Originator and any of the
parties specified in clause (iv) of paragraph (a) of this Section 11.A.03 (and
any other parties identified in writing by the requesting party) with respect
to
such Securitization Transaction, (C) any Event of Default under the terms of
this Agreement or any Reconstitution Agreement, (D) any merger,
consolidation or sale of substantially all of the assets of the
Company, and (E) the Company’s entry into an agreement with a Subservicer to
perform or assist in the performance of any of the Company’s obligations under
this Agreement or any Reconstitution Agreement and (ii) provide to the Owner
and
any Depositor a description of such proceedings, affiliations or
relationships.
(e) As
a condition to the succession to the Company or any Subservicer as servicer
or
subservicer under this Agreement or any Reconstitution Agreement by any Person
(i) into which the Company or such Subservicer may be merged or consolidated,
or
(ii) which may be appointed as a successor to the Company or any Subservicer,
the Company shall provide to the Owner, any Master Servicer, and any Depositor,
at least fifteen (15) calendar days prior to the effective date of such
succession or appointment, (x) written notice to the Owner and any Depositor
of
such succession or appointment and (y) in writing and in form and substance
reasonably satisfactory to the Owner and such Depositor, all information
reasonably requested by the Owner or any Depositor in order to comply with
its
reporting obligation under Item 6.02 of Form 8-K with respect to any class
of
asset-backed securities.
(f) In
addition to such information as the Company, as servicer, is obligated to
provide pursuant to other provisions of this Agreement, (not later than ten
(10)
days prior to the deadline for the filing of any distribution report on Form
10-D) in respect of any Securitization Transaction that includes any of the
Mortgage Loans serviced by the Company or any Subservicer, the Company or such
Subservicer, as applicable, shall, to the extent the Company or such Subservicer
has knowledge, provide to the party responsible for filing such report
(including, if applicable, the Master Servicer) notice of the occurrence of
any
of the following events along with all information, data, and materials related
thereto as may be required to be included in the related distribution report
on
Form 10-D (as specified in the provisions of Regulation AB referenced
below):
(i) any
material modifications, extensions or waivers of pool asset terms, fees,
penalties or payments during the distribution period or that have cumulatively
become material over time (Item 1121(a)(11) of Regulation AB);
(ii) material
breaches of pool asset representations or warranties or transaction covenants
(Item 1121(a)(12) of Regulation AB); and
(iii) information
regarding new asset-backed securities issuances backed by the same pool assets,
any pool asset changes (such as, additions, substitutions or repurchases),
and
any material changes in origination, underwriting or other criteria for
acquisition or selection of pool assets (Item 1121(a)(14) of Regulation
AB).
(g) The
Company shall provide to the Owner, 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
omissions insurance, financial information and reports, and such other
information related to the Company or any Subservicer or the Company or such
Subservicer’s performance hereunder.
Subsection
11.A.04. Servicer Compliance Statement.
On
or
before March 1 of each calendar year, commencing in 2008, the Company shall
deliver to the Owner, any Master Servicer and any Depositor a statement of
compliance addressed to the Owner, such Master Servicer and such Depositor
and
signed by an authorized officer of the Company, to the effect that (i) a review
of the Company’s activities during the immediately preceding calendar year (or
applicable portion thereof) and of its performance under this Agreement and
any
applicable Reconstitution Agreement during such period has been made under
such
officer’s supervision, and (ii) to the best of such officers’ knowledge, based
on such review, the Company has fulfilled all of its obligations under this
Agreement and any applicable Reconstitution Agreement in all material respects
throughout such calendar year (or applicable portion thereof) or, if there
has
been a failure to fulfill any such obligation in any material respect,
specifically identifying each such failure known to such officer and the nature
and the status thereof.
Subsection
11.A.05. Report on Assessment of Compliance and Attestation.
On
or
before March 1 of each calendar year, commencing in 2008, the Company
shall:
(1) deliver
to the Owner, any Master Servicer and any Depositor a report (in form and
substance reasonably satisfactory to the Owner, such Master Servicer and such
Depositor) regarding the Company’s assessment of compliance with the Servicing
Criteria during the immediately preceding calendar year, as required under
Rules
13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such
report shall be addressed to the Owner, such Master Servicer and such Depositor
and signed by an authorized officer of the Company, and shall address each
of
the “Applicable Servicing Criteria” specified on Exhibit 12 hereto;
(2) deliver
to the Owner, any Master Servicer and any Depositor a report of a registered
public accounting firm reasonably acceptable to the Owner, such Master Servicer
and such Depositor that attests to, and reports on, the assessment of compliance
made by the Company and delivered pursuant to the preceding paragraph. Such
attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of
Regulation S-X under the Securities Act and the Exchange Act;
(3) cause
each Subservicer, and each Subcontractor determined by the Company pursuant
to
Subsection 11.A.06(b) to be “participating in the servicing function” within the
meaning of Item 1122 of Regulation AB and deliver to the Owner, any Master
Servicer and any Depositor an assessment of compliance and accountants’
attestation as and when provided in paragraphs (1) and (2) of this Section
11.A.05; and
(4) deliver,
and cause each Subservicer and Subcontractor described in clause (3) to provide,
to the Owner, any Depositor, any Master Servicer and any other Person that
will
be responsible for signing the certification (a “Sarbanes Certification”)
required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant
to
Section 302 of the Xxxxxxxx-Xxxxx Act of 2002) on behalf of an asset-backed
issuer with respect to a Securitization Transaction a certification, signed
by
the appropriate officer of the Company, in the form attached hereto as Exhibit
11.
The
Company acknowledges that the parties identified in clause (a)(4) above may
rely
on the certification provided by the Company pursuant to such clause in signing
a Sarbanes Certification and filing such with the Commission.
Each
assessment of compliance provided by a Subservicer pursuant to Subsection
11.A.05(a)(1) shall address each of the Applicable Servicing Criteria specified
on a certification substantially in the form of Exhibit 12 hereto delivered
to
the Owner concurrently with the execution of this Agreement or, in the case
of a
Subservicer subsequently appointed as such, on or prior to the date of such
appointment. An assessment of compliance provided by a Subcontractor pursuant
to
Subsection 11.A.05(a)(3) need not address any elements of the Servicing Criteria
other than those specified by the Company pursuant to Subsection
11.A.06.
Subsection
11.A.06. Use of Subservicers and Subcontractors.
The
Company shall not hire or otherwise utilize the services of any Subservicer
to
fulfill any of the obligations of the Company as servicer under this Agreement
or any Reconstitution Agreement unless the Company complies with the provisions
of paragraph (a) of this Section. The Company shall not hire or otherwise
utilize the services of any Subcontractor, and shall not permit any Subservicer
to hire or otherwise utilize the services of any Subcontractor, to fulfill
any
of the obligations of the Company as servicer under this Agreement or any
Reconstitution Agreement unless the Company complies with the provisions of
paragraph (b) of this Section.
a. It
shall not be necessary for the Company to seek the consent of the Owner, any
Master Servicer or any Depositor to the utilization of any Subservicer. The
Company shall cause any Subservicer used by the Company (or by any Subservicer)
for the benefit of the Owner and any Depositor to comply with the provisions
of
this Section and with Subsection 11.A.02, 11.A.03(c), (e), (f) and (g), 11.A.04,
11.A.05 and 11.A.07 of this Agreement to the same extent as if such Subservicer
were the Company, and to provide the information required with respect to such
Subservicer under Subsection 11.A.03(d) of this Agreement. The Company shall
be
responsible for obtaining from each Subservicer and delivering to the Owner
and
any Depositor any servicer compliance statement required to be delivered by
such
Subservicer under Subsection 11.A.04, any assessment of compliance and
attestation required to be delivered by such Subservicer under Subsection
11.A.05 and any certification required to be delivered to the Person that will
be responsible for signing the Sarbanes Certification under Subsection 11.A.05
as and when required to be delivered.
b. It
shall not be necessary for the Company to seek the consent of the Owner, any
Master Servicer or any Depositor to the utilization of any Subcontractor. The
Company shall promptly upon request provide to the Owner, any Master Servicer
and any Depositor (or any designee of the Depositor, such as an administrator)
a
written description (in form and substance satisfactory to the Owner, such
Depositor and such Master Servicer) of the role and function of each
Subcontractor utilized by the Company or any Subservicer, specifying (i) the
identity of each such Subcontractor, (ii) which (if any) of such Subcontractors
are “participating in the servicing function” within the meaning of Item 1122 of
Regulation AB, and (iii) which elements of the Servicing Criteria will be
addressed in assessments of compliance provided by each Subcontractor identified
pursuant to clause (ii) of this paragraph.
As
a
condition to the utilization of any Subcontractor determined to be
“participating in the servicing function” within the meaning of Item 1122 of
Regulation AB, the Company shall cause any such Subcontractor used by the
Company (or by any Subservicer) for the benefit of the Owner and any Depositor
to comply with the provisions of Subsections 11.A.05 and 11.A.07 of this
Agreement to the same extent as if such Subcontractor were the Company. The
Company shall be responsible for obtaining from each Subcontractor and
delivering to the Owner and any Depositor any assessment of compliance and
attestation and the other certifications required to be delivered by such
Subservicer and such Subcontractor under Section 11.A.05, in each case as and
when required to be delivered.
Subsection
11.A.07. Indemnification; Remedies.
(a) The
Company shall indemnify the Owner, each affiliate of the Owner, and each of
the
following parties participating in a Securitization Transaction: each sponsor
and issuing entity; each Person (including, but not limited to, any Master
Servicer if applicable) responsible for the preparation, execution or filing
of
any report required to be filed with the Commission with respect to such
Securitization Transaction, or for execution of a certification pursuant to
Rule
13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such
Securitization Transaction; each broker dealer acting as underwriter, placement
agent or initial Owner, each Person who controls any of such parties or the
Depositor (within the meaning of Section 15 of the Securities Act and Section
20
of the Exchange Act); and the respective present and former directors, officers,
employees, agents and affiliates of each of the foregoing and of the Depositor
(each, an “Indemnified Party”), and shall hold each of them harmless from and
against any claims, losses, damages, penalties, fines, forfeitures, legal fees
and expenses and related costs, judgments, and any other costs, fees and
expenses that any of them may sustain arising out of or based upon:
(i)(A)
any untrue statement of a material fact (regardless of whether an admission
has
been made or a final judgment has been entered by a finder of fact as to such
untrue statement) contained in any information, report, certification, data,
accountants’ letter or other material provided under this Section 11.A by or on
behalf of the Company, or provided under this Section 11.A by or on behalf
of
any Subservicer, Subcontractor or Third-Party Originator (collectively, the
“Company Information”), or (B) the omission to state in the Company Information
a material fact required to be stated in the Company Information or necessary
in
order to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided, by way of clarification, that
clause (B) of this paragraph shall be construed solely by reference to the
Company Information and not to any other information communicated in connection
with a sale or purchase of securities, without regard to whether the Company
Information or any portion thereof is presented together with or separately
from
such other information;
(ii) any
breach by the Company of its obligations under this Section 11.A, including
particularly any failure by the Company, any Subservicer, any Subcontractor
or
any Third-Party Originator to deliver any information, report, certification,
accountants’ letter or other material when and as required under this Section
11.A, including any failure by the Company to identify pursuant to Subsection
11.A.06(b) any Subcontractor “participating in the servicing function” within
the meaning of Item 1122 of Regulation AB;
(iii) any
breach by the Company of a representation or warranty set forth in Subsection
11.A.02(a) or in a writing furnished pursuant to Subsection 11.A.02(b) and
made
as of a date prior to the closing date of the related Securitization
Transaction, to the extent that such breach is not cured by such closing date,
or any breach by the Company of a representation or warranty in a writing
furnished pursuant to Subsection 11.A.02(b) to the extent made as of a date
subsequent to such closing date; or
(iv) the
negligence, bad faith or willful misconduct of the Company in connection with
its performance under this Section 11.A
If
the indemnification provided for
herein is unavailable or insufficient to hold harmless an Indemnified Party,
then the Company agrees that it shall contribute to the amount paid or payable
by such Indemnified Party as a result of any claims, losses, damages or
liabilities incurred by such Indemnified Party in such proportion as is
appropriate to reflect the relative fault of such Indemnified Party on the
one
hand and the Company on the other.
In
the
case of any failure of performance described in clause (ii) of this Section,
the
Company shall promptly reimburse the Owner, any Depositor, as applicable, and
each Person responsible for the preparation, execution or filing of any report
required to be filed with the Commission with respect to such Securitization
Transaction, or for execution of a certification pursuant to Rule 13a-14(d)
or
Rule 15d-14(d) under the Exchange Act with respect to such Securitization
Transaction, for all costs reasonably incurred by each such party in order
to
obtain the information, report, certification, accountants’ letter or other
material not delivered as required by the Company, any Subservicer, any
Subcontractor or any Third-Party Originator.
This
indemnification shall survive the termination of this Agreement or the
termination of any party to this Agreement.
(b) (i) Any
failure by the Company, any Subservicer, any Subcontractor or any Third-Party
Originator to deliver any information, report, certification, accountants’
letter or other material when and as required under this Section 11.A, or any
breach by the Company of a representation or warranty set forth in Subsection
11.A.02(a) or in a writing furnished pursuant to Subsection 11.A.02(b) and
made
as of a date prior to the closing date of the related Securitization
Transaction, to the extent that such breach is not cured by such closing date,
or any breach by the Company of a representation or warranty in a writing
furnished pursuant to Subsection 11.A.02(b) to the extent made as of a date
subsequent to such closing date, shall, except as provided in clause (ii) of
this paragraph, immediately and automatically, without notice or grace period,
constitute an Event of Default with respect to the Company under this Agreement
and any applicable Reconstitution Agreement, and shall entitle the Owner or
any
Depositor, as applicable, in its sole discretion to terminate the rights and
obligations of the Company as servicer under this Agreement and/or any
applicable Reconstitution Agreement without payment (notwithstanding anything
in
this Agreement or any applicable Reconstitution Agreement to the contrary)
of
any compensation to the Company (and if the Company is servicing any of the
Mortgage Loans in a Securitization Transaction, appoint a successor servicer
reasonably acceptable to any Master Servicer for such Securitization
Transaction); provided that to the extent that any provision of this
Agreement and/or any applicable Reconstitution Agreement expressly provides
for
the survival of certain rights or obligations following termination of the
Company as servicer, such provision shall be given effect.
(ii) Any
failure by the Company, any Subservicer or any Subcontractor to deliver any
information, report, certification or accountants’ letter when and as required
under Subsection 11.A.04 or 11.A.05, including any failure by the Company to
identify pursuant to Subsection 11.A.06(b) any Subcontractor “participating in
the servicing function” within the meaning of Item 1122 of Regulation AB, which
continues unremedied for ten calendar days after the date on which such
information, report, certification or accountants’ letter was required to be
delivered shall constitute an Event of Default with respect to the Company
under
this Agreement and any applicable Reconstitution Agreement, and shall entitle
the Owner, any Master Servicer or any Depositor, as applicable, in its sole
discretion to terminate the rights and obligations of the Company as servicer
under this Agreement and/or any applicable Reconstitution Agreement without
payment (notwithstanding anything in this Agreement to the contrary) of any
compensation to the Company; provided that to the extent that any
provision of this Agreement and/or any applicable Reconstitution Agreement
expressly provides for the survival of certain rights or obligations following
termination of the Company as servicer, such provision shall be given
effect.
(iii) The
Company shall promptly reimburse the Owner (or any designee of the Owner) any
Master Servicer and any Depositor, as applicable, for all reasonable expenses
incurred by the Owner (or such designee) or such Depositor, as such are
incurred, in connection with the termination of the Company as servicer and
the
transfer of servicing of the Mortgage Loans to a successor servicer. The
provisions of this paragraph shall not limit whatever rights the Owner or any
Depositor may have under other provisions of this Agreement and/or any
applicable Reconstitution Agreement or otherwise, whether in equity or at law,
such as an action for damages, specific performance or injunctive
relief.
Subsection
11.A.08. Third Party Beneficiary.
For
purposes of this Section 11.A and any related provisions thereto, each Master
Servicer shall be considered a third-party beneficiary of this Agreement,
entitled to all the rights and benefits hereof as if it were a direct party
to
this Agreement.
(x) Exhibit
11 to amendment number one to the Servicing Agreement, dated as of November
15,
2002, is hereby deleted in its entirety and replaced by new Exhibit 11,
substantially in the form of Exhibit C to this Agreement.
(xi) Exhibit
12 to the Servicing Agreement is hereby added immediately following Exhibit
11,
substantially in the form of Exhibit D to this Agreement.
NIMS
Insurer
8. In
addition to the terms and conditions set forth in this Agreement, any and all
rights of the Master Servicer and Trustee to receive notices from the Company
pursuant to this Agreement shall hereby be equally granted to the NIMS Insurer.
The Master Servicer, the Assignor or the Trustee shall notify the Company in
writing of the name and address of the NIMS Insurer and the name and telephone
number of the appropriate contact employee of the NIMS Insurer. For
any and all obligations of the Company to obtain consent from the Master
Servicer or the Trustee pursuant to this Agreement, the Company must also obtain
such consent from the NIMS Insurer. Notwithstanding any other
provision in this Agreement, the Trust Fund shall hold harmless and indemnify
the Company for any failure of the NIMS Insurer to comply with the provisions
of
this Agreement. Notwithstanding any provision herein to the contrary,
the parties to this Agreement agree that it is appropriate, in furtherance
of
the intent of such parties as set forth herein, that the NIMS Insurer receive
the benefit of the provisions of this Agreement as an intended third party
beneficiary of this Agreement to the extent of such provisions. The Company
shall have the same obligations to the NIMS Insurer as if it was a party to
this
Agreement, and the NIMS Insurer shall have the same rights and remedies to
enforce the provisions of this Agreement as if it was a party to this
Agreement. The parties hereto agree to cooperate in good faith to
amend this Agreement in accordance with the terms hereof to include such other
provisions as may be reasonably requested by the NIMS
Insurer. Notwithstanding the foregoing, all rights of the NIMS
Insurer set forth in this Agreement shall exist only so long as the NIM
Securities issued pursuant to the NIMS Transaction remain outstanding or the
NIMS Insurer is owed amounts in respect of its guarantee of payment on such
NIM
Securities.
"NIM
Security" shall mean any
net interest margin security issued by an owner trust or special purpose entity
that is holding all rights, title and interest in and to the Class P or Class
C
Certificates issued by the Trust Fund.
"NIMS
Insurer" shall mean
collectively, any insurance companies issuing a financial guaranty insurance
policy covering certain payments to be made on NIM Securities pursuant to a
NIMS
Transaction.
"NIMS
Transaction" shall mean
any transaction in which NIM Securities are secured, in part, by the payments
on
the Class P or Class C Certificates issued by the Trust Fund.
9. Wire
Instructions: Distributions required to be made by the Company under the
Servicing Agreement shall be made by wire transfer of immediately available
funds to Xxxxx Fargo Bank, N.A., ABA #000-000-000, for credit to SAS Clearing;
Account:
0000000000, for further credit to account #00000000. Applicable statements
should be mailed to Xxxxx Fargo Bank, N.A., 0000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx,
Xxxxxxxx 00000, Attn: Client
Manager—MALT 2007-HF1.
10. Notices:
All
demands, notices and communications related to the Mortgage Loans and this
Agreement shall be in writing and shall be deemed to have been duly given if
personally delivered or mailed by registered mail, postage prepaid, as
follows:
In
the
case of the Assignor,
UBS
Real
Estate Securities Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention: Xxxxxx
Xxxxxxxx
Telephone
No.: (000) 000-0000
Facsimile
No.: (000) 000-0000
In
the
case of the Assignee,
Mortgage
Asset Securitization Transactions, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention: Legal
Department
In
the
case of the Company,
Xxxxxx
Savings and Loan Association, F.A.
3501
Jamboree Road, 0xx Xxxxx,
Xxxxx
Xxxxx
Xxxxxxx
Xxxxx, Xxxxxxxxxx 00000
Attention: Xxxxx
Xxxxxxxxxx– Director of Secondary
Marketing
Miscellaneous:
11. Each
party will pay any commissions it has incurred and the Assignor shall pay the
fees of its attorneys and the reasonable fees of the attorneys of the Assignee
and the Company in connection with the negotiations for, documenting of and
closing of the transactions contemplated by this Agreement.
12. 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.
13. 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, with prior consent of the
Trustee.
14. This
Agreement shall inure to the benefit of (i) the successors and assigns of
the parties hereto and (ii) the Trustee. 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.
15. This
Agreement shall survive the conveyance of the Mortgage Loans and the assignment
of the Servicing Agreement to the extent of the Mortgage Loans by Assignor
to
Assignee and Assignee to Trustee.
16. 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.
17. In
the
event that any provision of this Agreement conflicts with any provision of
the
Servicing Agreement with respect to the Mortgage Loans, the terms of this
Agreement shall control.
[SIGNATURE
PAGE FOLLOWS]
IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authorized officers as of the date first above written.
MORTGAGE
ASSET SECURITIZATION TRANSACTIONS, INC.
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|
By:
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Name:
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Title:
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By:
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Name:
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Title:
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UBS
REAL ESTATE SECURITIES INC.
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By:
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Name:
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Title:
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By:
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Name:
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Title:
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XXXXXX
SAVINGS AND LOAN ASSOCIATION, F.A.
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By:
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Name:
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Title:
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Exhibit
A
Mortgage
Loans
As
delivered to the Trustee on the Closing Date
Exhibit
B
Servicing
Agreement
On
File
at Xxxxxxx Xxxxxxxx & Xxxx LLP
Exhibit
C
NEW
EXHIBIT 11
FORM
OF
ANNUAL CERTIFICATION
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Re:
|
The
[
|
]
agreement dated as of [
|
l,
200[ ] (the “Agreement”), among [IDENTIFY
PARTIES]
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I,
____________________________, the _______________________ of [NAME OF COMPANY]
(the “Company”), certify to [the Owner], [the Depositor], and the [Master
Servicer] [Securities Administrator] [Trustee], and their officers, with the
knowledge and intent that they will rely upon this certification,
that:
a. I
have
reviewed the servicer compliance statement of the Company provided in accordance
with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
assessment of the Company’s compliance with the servicing criteria set forth in
Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
(the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
Assessment”), the registered public accounting firm’s attestation report
provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
and
Section 1122(b) of Regulation AB (the “Attestation Report”), and all servicing
reports, officer’s certificates and other information relating to the servicing
of the Mortgage Loans by the Company during 200[ ] that were delivered by the
Company to the [Depositor] [Master Servicer] [Securities Administrator]
[Trustee] pursuant to the Agreement (collectively, the “Company Servicing
Information”);
b. Based
on
my knowledge, the Company Servicing Information, taken as a whole, does not
contain any untrue statement of a material fact or omit to state a material
fact
necessary to make the statements made, in the light of the circumstances under
which such statements were made, not misleading with respect to the period
of
time covered by the Company Servicing Information;
c. Based
on
my knowledge, all of the Company Servicing Information required to be provided
by the Company under the Agreement has been provided to the [Depositor] [Master
Servicer] [Securities Administrator] [Trustee];
d. I
am
responsible for reviewing the activities performed by the Company as servicer
under the Agreement, and based on my knowledge and the compliance review
conducted in preparing the Compliance Statement and except as disclosed in
the
Compliance Statement, the Servicing Assessment or the Attestation Report, the
Company has fulfilled its obligations under the Agreement in all material
respects; and
e. The
Compliance Statement required to be delivered by the Company pursuant to this
Agreement, and the Servicing Assessment and Attestation Report required to
be
provided by the Company and by any Subservicer and Subcontractor pursuant to
the
Agreement, have been provided to the [Depositor] [Master
Servicer]. Any material instances of noncompliance described in such
reports have been disclosed to the [Depositor] [Master Servicer]. Any material
instance of noncompliance with the Servicing Criteria has been disclosed in
such
reports.
Date:
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By:
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Name:
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Title:
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Exhibit
D
EXHIBIT
12
SERVICING
CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The
assessment of compliance to be delivered by [the Company] [Name of Subservicer]
shall address, at a minimum, the criteria identified as below as “Applicable
Servicing Criteria”:
Servicing
Criteria
|
Applicable
Servicing
Criteria
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Reference
|
Criteria
|
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General
Servicing Considerations
|
||
1122(d)(1)(i)
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Policies
and procedures are instituted to monitor any performance or other
triggers
and events of default in accordance with the transaction
agreements.
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X
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1122(d)(1)(ii)
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If
any material servicing activities are outsourced to third parties,
policies and procedures are instituted to monitor the third party’s
performance and compliance with such servicing activities.
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X
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1122(d)(1)(iii)
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Any
requirements in the transaction agreements to maintain a back-up
servicer
for the mortgage loans are maintained.
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1122(d)(1)(iv)
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A
fidelity bond and errors and omissions policy is in effect on the
party
participating in the servicing function throughout the reporting
period in
the amount of coverage required by and otherwise in accordance with
the
terms of the transaction agreements.
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X
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Cash
Collection and Administration
|
||
1122(d)(2)(i)
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Payments
on mortgage loans are deposited into the appropriate custodial bank
accounts and related bank clearing accounts no more than two business
days
following receipt, or such other number of days specified in the
transaction agreements.
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X
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1122(d)(2)(ii)
|
Disbursements
made via wire transfer on behalf of an obligor or to an investor
are made
only by authorized personnel.
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X
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1122(d)(2)(iii)
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Advances
of funds or guarantees regarding collections, cash flows or distributions,
and any interest or other fees charged for such advances, are made,
reviewed and approved as specified in the transaction
agreements.
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X
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1122(d)(2)(iv)
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The
related accounts for the transaction, such as cash reserve accounts
or
accounts established as a form of overcollateralization, are separately
maintained (e.g., with respect to commingling of cash) as set forth
in the
transaction agreements.
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X
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1122(d)(2)(v)
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Each
custodial account is maintained at a federally insured depository
institution as set forth in the transaction agreements. For purposes
of
this criterion, “federally insured depository institution” with respect to
a foreign financial institution means a foreign financial institution
that
meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
Act.
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X
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1122(d)(2)(vi)
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Unissued
checks are safeguarded so as to prevent unauthorized
access.
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X
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1122(d)(2)(vii)
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Reconciliations
are prepared on a monthly basis for all asset-backed securities related
bank accounts, including custodial accounts and related bank clearing
accounts. These reconciliations are (A) mathematically accurate;
(B)
prepared within 30 calendar days after the bank statement cutoff
date, or
such other number of days specified in the transaction agreements;
(C)
reviewed and approved by someone other than the person who prepared
the
reconciliation; and (D) contain explanations for reconciling items.
These
reconciling items are resolved within 90 calendar days of their original
identification, or such other number of days specified in the transaction
agreements.
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X
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Investor
Remittances and Reporting
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||
1122(d)(3)(i)
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Reports
to investors, including those to be filed with the Commission, are
maintained in accordance with the transaction agreements and applicable
Commission requirements. Specifically, such reports (A) are prepared
in
accordance with timeframes and other terms set forth in the transaction
agreements; (B) provide information calculated in accordance with
the
terms specified in the transaction agreements; (C) are filed with
the
Commission as required by its rules and regulations; and (D) agree
with
investors’ or the trustee’s records as to the total unpaid principal
balance and number of mortgage loans serviced by the
Servicer.
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X
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1122(d)(3)(ii)
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Amounts
due to investors are allocated and remitted in accordance with timeframes,
distribution priority and other terms set forth in the transaction
agreements.
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X
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1122(d)(3)(iii)
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Disbursements
made to an investor are posted within two business days to the Servicer’s
investor records, or such other number of days specified in the
transaction agreements.
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X
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1122(d)(3)(iv)
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Amounts
remitted to investors per the investor reports agree with cancelled
checks, or other form of payment, or custodial bank
statements.
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X
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Pool
Asset Administration
|
||
1122(d)(4)(i)
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Collateral
or security on mortgage loans is maintained as required by the transaction
agreements or related mortgage loan documents.
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X
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1122(d)(4)(ii)
|
Mortgage
loan and related documents are safeguarded as required by the transaction
agreements.
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X
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1122(d)(4)(iii)
|
Any
additions, removals or substitutions to the asset pool are made,
reviewed
and approved in accordance with any conditions or requirements in
the
transaction agreements.
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X
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1122(d)(4)(iv)
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Payments
on mortgage loans, including any payoffs, made in accordance with
the
related mortgage loan documents are posted to the Servicer’s obligor
records maintained no more than two business days after receipt,
or such
other number of days specified in the transaction agreements, and
allocated to principal, interest or other items (e.g., escrow) in
accordance with the related mortgage loan documents.
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X
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1122(d)(4)(v)
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The
Servicer’s records regarding the mortgage loans agree with the Servicer’s
records with respect to an obligor’s unpaid principal
balance.
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X
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1122(d)(4)(vi)
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Changes
with respect to the terms or status of an obligor’s mortgage loans (e.g.,
loan modifications or re-agings) are made, reviewed and approved
by
authorized personnel in accordance with the transaction agreements
and
related pool asset documents.
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X
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1122(d)(4)(vii)
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Loss
mitigation or recovery actions (e.g., forbearance plans, modifications
and
deeds in lieu of foreclosure, foreclosures and repossessions, as
applicable) are initiated, conducted and concluded in accordance
with the
timeframes or other requirements established by the transaction
agreements.
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X
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1122(d)(4)(viii)
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Records
documenting collection efforts are maintained during the period a
mortgage
loan is delinquent in accordance with the transaction agreements.
Such
records are maintained on at least a monthly basis, or such other
period
specified in the transaction agreements, and describe the entity’s
activities in monitoring delinquent mortgage loans including, for
example,
phone calls, letters and payment rescheduling plans in cases where
delinquency is deemed temporary (e.g., illness or
unemployment).
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X
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1122(d)(4)(ix)
|
Adjustments
to interest rates or rates of return for mortgage loans with variable
rates are computed based on the related mortgage loan
documents.
|
X
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1122(d)(4)(x)
|
Regarding
any funds held in trust for an obligor (such as escrow accounts):
(A) such
funds are analyzed, in accordance with the obligor’s mortgage loan
documents, on at least an annual basis, or such other period specified
in
the transaction agreements; (B) interest on such funds is paid, or
credited, to obligors in accordance with applicable mortgage loan
documents and state laws; and (C) such funds are returned to the
obligor
within 30 calendar days of full repayment of the related mortgage
loans,
or such other number of days specified in the transaction
agreements.
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X
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1122(d)(4)(xi)
|
Payments
made on behalf of an obligor (such as tax or insurance payments)
are made
on or before the related penalty or expiration dates, as indicated
on the
appropriate bills or notices for such payments, provided that such
support
has been received by the servicer at least 30 calendar days prior
to these
dates, or such other number of days specified in the transaction
agreements.
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X
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1122(d)(4)(xii)
|
Any
late payment penalties in connection with any payment to be made
on behalf
of an obligor are paid from the servicer’s funds and not charged to the
obligor, unless the late payment was due to the obligor’s error or
omission.
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X
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1122(d)(4)(xiii)
|
Disbursements
made on behalf of an obligor are posted within two business days
to the
obligor’s records maintained by the servicer, or such other number of days
specified in the transaction agreements.
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X
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1122(d)(4)(xiv)
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Delinquencies,
charge-offs and uncollectible accounts are recognized and recorded
in
accordance with the transaction agreements.
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X
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1122(d)(4)(xv)
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Any
external enhancement or other support, identified in Item 1114(a)(1)
through (3) or Item 1115 of Regulation AB, is maintained as set forth
in
the transaction agreements.
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X
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Exhibit
E
EXHIBIT
13
Exhibit 13-1
: Standard
File
Layout – Delinquency Reporting
Column/Header
Name
|
Description
|
Decimal
|
Format
Comment
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SERVICER_LOAN_NBR
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A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
|
|
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LOAN_NBR
|
A
unique identifier assigned to each loan by the originator.
|
||
CLIENT_NBR
|
Servicer
Client Number
|
||
SERV_INVESTOR_NBR
|
Contains
a unique number as assigned by an external servicer to identify a
group of
loans in their system.
|
|
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BORROWER_FIRST_NAME
|
First
Name of the Borrower.
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||
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.
|
||
BORR_NEXT_PAY_DUE_DATE
|
The
date that the borrower's next payment is due to the servicer at the
end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
|
|
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 by the
courts
|
MM/DD/YYYY
|
|
BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
|
LOSS_MIT_APPR_DATE
|
The
Date The Loss Mitigation Was Approved By The Servicer
|
MM/DD/YYYY
|
|
LOSS_MIT_TYPE
|
The
Type Of Loss Mitigation Approved For A Loan Such As;
|
||
LOSS_MIT_EST_COMP_DATE
|
The
Date The Loss Mitigation /Plan Is Scheduled To End/Close
|
MM/DD/YYYY
|
|
LOSS_MIT_ACT_COMP_DATE
|
The
Date The Loss Mitigation Is Actually Completed
|
MM/DD/YYYY
|
|
FRCLSR_APPROVED_DATE
|
The
date DA Admin sends a letter to the servicer with instructions to
begin
foreclosure proceedings.
|
MM/DD/YYYY
|
|
ATTORNEY_REFERRAL_DATE
|
Date
File Was Referred To Attorney to Pursue Foreclosure
|
MM/DD/YYYY
|
|
FIRST_LEGAL_DATE
|
Notice
of 1st legal filed by an Attorney in a Foreclosure Action
|
MM/DD/YYYY
|
|
FRCLSR_SALE_EXPECTED_DATE
|
The
date by which a foreclosure sale is expected to occur.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_DATE
|
The
actual date of the foreclosure sale.
|
MM/DD/YYYY
|
|
FRCLSR_SALE_AMT
|
The
amount a property sold for at the foreclosure sale.
|
2
|
No
commas(,) or dollar signs ($)
|
EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
|
EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
|
LIST_PRICE
|
The
price at which an REO property is marketed.
|
2
|
No
commas(,) or dollar signs ($)
|
LIST_DATE
|
The
date an REO property is listed at a particular price.
|
MM/DD/YYYY
|
|
OFFER_AMT
|
The
dollar value of an offer for an REO property.
|
2
|
No
commas(,) or dollar signs ($)
|
OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
|
REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
|
REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
|
OCCUPANT_CODE
|
Classification
of how the property is occupied.
|
|
|
PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
||
PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
|
APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
|
CURR_PROP_VAL
|
The
current "as is" value of
the property based on brokers price opinion or
appraisal.
|
2
|
|
REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
|
If
applicable:
|
|
|
|
DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
||
DELINQ_REASON_CODE
|
The
circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in
default for this cycle.
|
||
MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
|
MI_CLAIM_PAID_DATE
|
Date
Mortgage Insurance Company Disbursed Claim Payment
|
MM/DD/YYYY
|
|
MI_CLAIM_AMT_PAID
|
Amount
Mortgage Insurance Company Paid On Claim
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_FILED_DATE
|
Date
Claim Was Filed With Pool Insurance Company
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT
|
Amount
of Claim Filed With Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
POOL_CLAIM_PAID_DATE
|
Date
Claim Was Settled and The Check Was Issued By The Pool
Insurer
|
MM/DD/YYYY
|
|
POOL_CLAIM_AMT_PAID
|
Amount
Paid On Claim By Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_FILED_DATE
|
Date
FHA Part A Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_AMT
|
Amount
of FHA Part A Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_A_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part A Claim Payment
|
MM/DD/YYYY
|
|
FHA_PART_A_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part A Claim
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_FILED_DATE
|
Date
FHA Part B
Claim Was Filed With HUD
|
MM/DD/YYYY
|
|
FHA_PART_B_CLAIM_AMT
|
Amount
of FHA Part B Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
FHA_PART_B_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part B Claim Payment
|
MM/DD/YYYY
|
|