Exhibit 10.5(E)
EXECUTION VERSION
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
January 31, 2006, is among Bank of America, National Association, a national
banking association ("Assignor"), Banc of America Funding Corporation, a
Delaware corporation ("BAFC"), U.S. Bank National Association, a national
banking association, as trustee of the Banc of America Funding 2006-A Trust
("Assignee"), Xxxxx Fargo Bank, N.A., a national banking association ("Xxxxx
Fargo Bank"), as master servicer of the Banc of America Funding 2006-A Trust,
Countrywide Home Loans, Inc. (the "Company"), and Countrywide Home Loans
Servicing LP ("Countrywide").
WHEREAS, pursuant to (i) that certain Master Mortgage Loan Purchase and
Servicing Agreement, dated as of April 1, 2003, by and between Assignor (as
successor in interest to Banc of America Mortgage Capital Corporation
("BAMCC")), as purchaser, and the Company, as seller, (ii) that certain
Amendment No. 1, dated as of June 1, 2003, by and among BAMCC, the Company and
the Assignor, (iii) that certain Amendment No. 2, dated as of September 1, 2004,
by and among BAMCC, the Company and the Assignor, (iv) that certain Amendment
Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement (the
"Amendment Reg AB"), dated as of January 1, 2006, by and between the Company and
the Assignor, (v) that certain Purchase Confirmation, dated as of May 25, 2005,
by and between the Company and the Assignor, (vi) that certain Purchase
Confirmation, dated as of June 24, 2005, by and between the Company and the
Assignor, (vii) that certain Purchase Confirmation, dated as of July 25, 2005,
by and between the Company and the Assignor, (viii) that certain Purchase
Confirmation, dated as of September 29, 2005, by and between the Company and the
Assignor, (ix) that certain Purchase Confirmation, dated as of November 16,
2005, by and between the Company and the Assignor and (x) that certain Purchase
Confirmation, dated as of December 29, 2005, by and between the Company and the
Assignor (collectively, the "Purchase and Servicing Agreement"), each of which
is attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as
defined herein) from the Company;
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee;
WHEREAS, on the date hereof, the Company is transferring all of its right,
title and interest in and to the servicing of the Mortgage Loans to Countrywide;
and
WHEREAS, on the date hereof, Xxxxx Fargo Bank, as master servicer (in such
capacity, the "Master Servicer"), is entering into a Pooling and Servicing
Agreement, dated the date hereof (the "Pooling Agreement), among BAFC, the
Master Servicer, Xxxxx Fargo Bank, as securities administrator (the "Securities
Administrator"), and the Assignee, pursuant to which the Master Servicer will
supervise, monitor and oversee the servicing of the Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to Assignee, all of the right, title and
interest of the Assignor in, to and under the Purchase and Servicing Agreement,
and the mortgage loans delivered under such agreement by Countrywide to the
Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans").
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the Purchase and Servicing Agreement other than the Mortgage Loans.
2. The Company hereby grants, transfers and assigns to Countrywide all of
the right, title and interest of the Company in, to and under the servicing
rights under the Purchase and Servicing Agreement as it relates to the mortgage
loans and only the mortgage loans delivered under such agreement by Countrywide
to the Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans").
The parties hereto acknowledge that Countrywide shall service the Mortgage Loans
on behalf of the Company in accordance with the Purchase and Servicing Agreement
from the date hereof. Countrywide hereby assumes all of the Company's
obligations and duties under the Purchase and Servicing Agreement as it relates
to the Mortgage Loans from and after the date hereof. The Company specifically
reserves and does not assign to Countrywide any right, title and interest in, to
or under (i) the Purchase and Servicing Agreement as it relates to any mortgage
loans other than the Mortgage Loans or (ii) any mortgage loans subject to the
Purchase and Servicing Agreement other than the Mortgage Loans. Notwithstanding
the foregoing, it is understood that the Company is not released from liability
to the Assignor, or its permitted successors and assigns, for any breaches of
any representations, warranties or covenants made by the Company in the Purchase
and Servicing Agreement prior to the date hereof.
3. The Assignor warrants and represents to, and covenants with, BAFC and
the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the full
right to transfer the Mortgage Loans free from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of, any
offsets, counterclaims or other defenses available to Countrywide with
respect to the Purchase and Servicing Agreement or the Mortgage Loans;
c. The Assignor has not waived or agreed to any waiver under, or agreed
to any amendment or other modification of, the Purchase and Servicing
Agreement or the Mortgage Loans, including without limitation the
transfer of the servicing obligations under the Purchase and Servicing
Agreement. The Assignor has no knowledge of, and has not received
notice of, any waivers under or amendments or other modifications of,
or assignments of rights or obligations under, the Purchase and
Servicing Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage
Loans, any interest in the Mortgage Loans or any other similar
security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Mortgage Loans, any interest in the
Mortgage Loans or any other similar security from, or otherwise
approached or negotiated with respect to the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security with, any
person in any manner, or made any general solicitation by means of
general advertising or in any other manner, or taken any other action
which would constitute a distribution of the Mortgage Loans under the
Securities Act of 1933, as amended (the "Securities Act"), or which
would render the disposition of the Mortgage Loans a violation of
Section 5 of the Securities Act or require registration pursuant
thereto.
4. From and after the date hereof, Countrywide shall (i) note the transfer
of the Mortgage Loans to the Assignee in its books and records, (ii) recognize
the Assignee as the owner of the Mortgage Loans and (iii) notwithstanding
anything to the contrary contained in Section 8.07 of the Purchase and Servicing
Agreement, shall service the Mortgage Loans pursuant to the Purchase and
Servicing Agreement, as modified by Section 10 hereof, for the benefit of the
Assignee.
5. Countrywide hereby acknowledges that Xxxxx Fargo Bank, N.A. has been
appointed as the Master Servicer of the Mortgage Loans pursuant to the Pooling
Agreement, and therefore has the right to enforce all obligations of Countrywide
as they relate to the Mortgage Loans, under the Purchase and Servicing
Agreement, including, without limitation, the right to exercise any and all
rights of the Assignor (but not the obligations) under the Purchase and
Servicing Agreement to monitor and enforce the obligations of Countrywide
thereunder, the right to terminate Countrywide under the Purchase and Servicing
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by Countrywide under the Purchase
and Servicing Agreement, the right to receive all monthly reports and other data
required to be delivered by Countrywide under the Purchase and Servicing
Agreement, the right to examine the books and records of Countrywide or the
Company (as such books and records relate to the prior period of servicing of
the Mortgage Loans by the Company), indemnification rights, and the right to
exercise certain rights of consent and approval relating to actions taken by
Countrywide. Wire remittances shall be sent to: XXXXX FARGO BANK, N.A., ABA#
000000000, FOR CREDIT TO: SAS CLEARING, ACCT: 0000000000, FFC TO: BAFC 2006-A #
50892300.
6. Countrywide hereby represents and warrants to each of the other parties
hereto (i) that the representations and warranties in Section 3.01 of the
Purchase and Servicing Agreement are true and correct in all material respects
as of the date hereof with the same force and effect as though expressly made by
Countrywide at and/or as of
the date hereof, (ii) the Mortgage Loans have been serviced in accordance with
the terms of the Purchase and Servicing Agreement, (iii) that the Company has
taken no action nor omitted to take any required action the omission of which
would have the effect of impairing any mortgage insurance or guarantee on the
Mortgage Loans and (iv) that any information provided by the Company on or
before the date hereof to any of the parties hereto is true and correct.
7. Countrywide hereby agrees to cooperate with BAFC, the Master Servicer
and the Assignee to enable BAFC, the Master Servicer and the Securities
Administrator to fully comply with all Securities and Exchange Commission
("SEC") disclosure and reporting requirements in effect from time to time with
respect to the trust created by the Pooling Agreement (which shall be named
"Banc of America Funding 2006-A Trust") (the "Trust") and any securities
representing ownership interests in or backed by assets of the Trust, including
without limitation, the SEC's recently published rules regarding asset-backed
securities (Release Nos. 33-8518; 34-50905; File No. S7-21-0433-8419) as set
forth in the Amendment Reg AB.
8. Countrywide hereby agrees that, in connection with each Mortgage Loan of
which the related Mortgage has been recorded in the name of MERS or its
designee, it shall take all actions as are necessary to cause the Assignee, as
trustee of the Trust pursuant to the Pooling Agreement, to be shown as the owner
of such Mortgage Loan on the records of MERS for purposes of the system of
recording transfers of beneficial ownership of mortgages maintained by MERS.
9. In accordance with Sections 2.05 and 7.01 of the Purchase and Servicing
Agreement, the Assignor hereby instructs Countrywide, and Countrywide hereby
agrees, to release from its custody and deliver the contents of the Collateral
File (as defined in the Purchase and Servicing Agreement) for each Mortgage Loan
to U.S. Bank National Association, in its capacity as custodian under the
Pooling Agreement on or before the closing date of the related Pass-Through
Transfer (as defined in the Purchase and Servicing Agreement).
10. Countrywide, BAFC and Assignee hereby agree to the following
modifications to the Purchase and Servicing Agreement solely with respect to the
Mortgage Loans:
a. Article I. The definition of "Qualified Substitute Mortgage Loan" is
hereby replaced in its entirety with the following:
"A mortgage loan that must, on the date of such substitution, (i) have
an unpaid principal balance, after deduction of all scheduled payments
due in the month of substitution (or if more than one (1) mortgage
loan is being substituted, an aggregate principal balance), not in
excess of the unpaid principal balance of the repurchased Mortgage
Loan (the amount of such shortfall will be deposited in the Custodial
Account by Countrywide in the month of substitution); (ii) have a
Mortgage Interest Rate not less than, and not more than two percent
(2%) greater than, the Mortgage Interest Rate of the repurchased
Mortgage Loan; (iii) have a remaining term to
maturity not greater than and not more than one year less than that of
the repurchased Mortgage Loan; (iv) comply with each representation
and warranty set forth in Sections 3.01 and 3.02; (v) be of the same
type as the repurchased Mortgage Loan; (vi) have a Gross Margin not
less than that of the repurchased Mortgage Loan; (vii) have the same
Index as the repurchased Mortgage Loan; (viii) have a FICO score not
less than that of the repurchased Mortgage Loan, (ix) have an LTV not
greater than that of the repurchased Mortgage Loan; (x) have a credit
grade not lower in quality than that of the repurchased Mortgage Loan
and (xi) have the same lien status as the repurchased Mortgage Loan."
b. Section 5.01. The following is added as the second paragraph of
Section 5.01:
"With respect to any remittance received by the Purchaser or any
master servicer after the Business Day on which such payment was due,
Countrywide shall pay to the Purchaser or any master servicer 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 one
percentage point, but in no event greater than the maximum amount
permitted by applicable law. Such interest shall be paid by
Countrywide to the Purchaser or any master servicer on the date such
late payment is made and shall cover the period commencing with the
day such remittance 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 Countrywide of any such
interest shall not be deemed an extension of time for payment or a
waiver of any Event of Default by Countrywide."
c. Section 5.02. The first paragraph of Section 5.02 is hereby modified
to read as follows:
"Not later than the fifth (5th) Business Day of each month,
Countrywide shall furnish to the Purchaser a delinquency report in the
form set forth in Exhibit H-1, a monthly remittance advice in the form
set forth in Exhibit H-2, and a realized loss report in the form set
forth in Exhibit H-3, each in a mutually agreeable electronic format,
as to the remittance on such Remittance Date and as to the period
ending on the last day of the month preceding such Remittance Date."
The exhibits referenced in this Section 9(c) are attached to this
Agreement on Exhibit B hereto.
Section 7.01. Section 7.01(a)(i) is hereby modified by deleting "three
(3) Business Days" and replacing it with "two (2) Business Days (but
in no event later than the 20th day of the month)".
11. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance Trust Services, BAFC 2006-A
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
Bank of America, National Association
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
[Signatures Follow]
IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and
Recognition Agreement to be executed by their duly authorized officers as of the
date first above written.
Bank of America, National Association,
Assignor
By: /s/ Xxxxx X. Good
------------------------------------
Name: Xxxxx X. Good
Title: Vice President
U.S. Bank National Association, Assignee
By: /s/ Xxxxxxx X. Xxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
------------------------------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
Countrywide Home Loans, Inc.
By: /s/ Xxxxxx Xxxxxxxxx
------------------------------------
Name: Xxxxxx Xxxxxxxxx
Title: First Vice President
Countrywide Home Loans Servicing LP
By: Countrywide GP, Inc., its general
partner
By: /s/ Xxxxxx Xxxxxxxxx
--------------------------------
Name: Xxxxxx Xxxxxxxxx
Title: First Vice President
[BAFC 2006-A Countrywide Assignment, Assumption and Recognition Agreement]
Acknowledged and Agreed
as of the date first above written:
Xxxxx Fargo Bank, N.A., as Master Servicer
By: /s/ Xxxxxx Xxxxxxx
---------------------------------
Name: Xxxxxx Xxxxxxx
Title: Assistant Vice President
EXHIBIT A
Schedule of Mortgage Loans
A-1
EXHIBIT B
EXHIBIT H-1 STANDARD FILE LAYOUT - DELINQUENCY REPORTING
-----------------------------------------------------------------------------------------------------
COLUMN/HEADER NAME DESCRIPTION DECIMAL FORMAT COMMENT
-----------------------------------------------------------------------------------------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the
Servicer. This may be different than the
LOAN_NBR
-----------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan
by the originator.
-----------------------------------------------------------------------------------------------------
CLIENT_NBR Servicer Client Number
-----------------------------------------------------------------------------------------------------
SERV_INVESTOR_NBR Contains a unique number as assigned by an
external servicer to identify a group of
loans in their system.
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BORROWER_FIRST_NAME First Name of the Borrower.
-----------------------------------------------------------------------------------------------------
BORROWER_LAST_NAME Last name of the borrower.
-----------------------------------------------------------------------------------------------------
PROP_ADDRESS Street Name and Number of Property
-----------------------------------------------------------------------------------------------------
PROP_STATE The state where the property located.
-----------------------------------------------------------------------------------------------------
PROP_ZIP Zip code where the property is located.
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BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment MM/DD/YYYY
is due to the servicer at the end of
processing cycle, as reported by Servicer.
-----------------------------------------------------------------------------------------------------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
-----------------------------------------------------------------------------------------------------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was MM/DD/YYYY
filed.
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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 MM/DD/YYYY
has been approved by the courts
-----------------------------------------------------------------------------------------------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From MM/DD/YYYY
Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
-----------------------------------------------------------------------------------------------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved MM/DD/YYYY
By The Servicer
-----------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Scheduled To End/Close
-----------------------------------------------------------------------------------------------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually MM/DD/YYYY
Completed
-----------------------------------------------------------------------------------------------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the MM/DD/YYYY
servicer with instructions to begin
foreclosure proceedings.
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ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to MM/DD/YYYY
Pursue Foreclosure
-----------------------------------------------------------------------------------------------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in MM/DD/YYYY
a Foreclosure Action
-----------------------------------------------------------------------------------------------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is MM/DD/YYYY
expected to occur.
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FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
-----------------------------------------------------------------------------------------------------
FRCLSR_SALE_AMT The amount a property sold for at the 2 No commas(,) or
foreclosure sale. dollar signs ($)
-----------------------------------------------------------------------------------------------------
EVICTION_START_DATE The date the servicer initiates eviction of MM/DD/YYYY
the borrower.
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EVICTION_COMPLETED_DATE The date the court revokes legal possession MM/DD/YYYY
of the property from the borrower.
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LIST_PRICE The price at which an REO property is 2 No commas(,) or
marketed. dollar signs ($)
-----------------------------------------------------------------------------------------------------
LIST_DATE The date an REO property is listed at a MM/DD/YYYY
particular price.
-----------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
OFFER_AMT The dollar value of an offer for an REO 2 No commas(,) or
property. dollar signs ($)
--------------------------------------------------------------------------------------------------------
OFFER_DATE_TIME The date an offer is received by DA Admin MM/DD/YYYY
or by the Servicer.
--------------------------------------------------------------------------------------------------------
REO_CLOSING_DATE The date the REO sale of the property is MM/DD/YYYY
scheduled to close.
--------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
performed.
--------------------------------------------------------------------------------------------------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
--------------------------------------------------------------------------------------------------------
CURR_PROP_VAL The current "as is" value of the property 2
based on brokers price opinion or appraisal.
--------------------------------------------------------------------------------------------------------
REPAIRED_PROP_VAL The amount the property would be worth if 2
repairs are completed pursuant to a
broker's price opinion or appraisal.
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IF APPLICABLE:
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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 MM/DD/YYYY
With Mortgage Insurance Company.
--------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,) or
dollar signs ($)
--------------------------------------------------------------------------------------------------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed MM/DD/YYYY
Claim Payment
--------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On 2 No commas(,) or
Claim dollar signs ($)
--------------------------------------------------------------------------------------------------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance MM/DD/YYYY
Company
--------------------------------------------------------------------------------------------------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance 2 No commas(,) or
Company dollar signs ($)
--------------------------------------------------------------------------------------------------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was MM/DD/YYYY
Issued By The Pool Insurer
--------------------------------------------------------------------------------------------------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance 2 No commas(,) or
Company dollar signs ($)
--------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Admin
--------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim MM/DD/YYYY
Payment
--------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or
dollar signs ($)
--------------------------------------------------------------------------------------------------------
EXHIBIT H-1: STANDARD FILE CODES - DELINQUENCY REPORTING
The LOSS MIT TYPE field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply Xxxxx
Fargo Bank with a description of each of the Loss Mitigation Types prior to
sending the file.
The OCCUPANT CODE field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The PROPERTY CONDITION field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
EXHIBIT H-1: 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 H-1: 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 H-2: STANDARD FILE LAYOUT - SCHEDULED/SCHEDULED
--------------------------------------------------------------------------------------------------------------------
MAX
COLUMN NAME DESCRIPTION DECIMAL FORMAT COMMENT SIZE
--------------------------------------------------------------------------------------------------------------------
SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
--------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10
by the investor.
--------------------------------------------------------------------------------------------------------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the
LOAN_NBR.
--------------------------------------------------------------------------------------------------------------------
BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, 30
file. It is not separated by first and First)
last name.
--------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs 11
interest payment that a borrower is ($)
expected to pay, P&I constant.
--------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
--------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the
Servicer.
--------------------------------------------------------------------------------------------------------------------
SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
--------------------------------------------------------------------------------------------------------------------
SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs 11
by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
--------------------------------------------------------------------------------------------------------------------
ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6
calculate a forecasted rate.
--------------------------------------------------------------------------------------------------------------------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the beginning of the processing cycle. ($)
--------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the end of the processing cycle. ($)
--------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10
that the borrower's next payment is due
to the Servicer, as reported by Servicer.
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
--------------------------------------------------------------------------------------------------------------------
ACTION_CODE The standard FNMA numeric code used to Action Code Key: 2
indicate the default/delinquent status of 15=Bankruptcy, 30=Foreclosure,
a particular loan. 60=PIF, 63=Substitution,
65=Repurchase, 70=REO
-------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs 11
if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs 11
applicable. ($)
--------------------------------------------------------------------------------------------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs 11
loss, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs 11
amount due at the beginning of the cycle ($)
date to be passed through to investors.
--------------------------------------------------------------------------------------------------------------------
SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs 11
investors at the end of a processing ($)
cycle.
--------------------------------------------------------------------------------------------------------------------
SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11
reported by the Servicer for the current ($)
cycle -- only applicable for
Scheduled/Scheduled Loans.
--------------------------------------------------------------------------------------------------------------------
SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs 11
the service fee amount for the current ($)
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
--------------------------------------------------------------------------------------------------------------------
ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs 11
the Servicer for the current reporting ($)
cycle -- only applicable for
Actual/Actual Loans.
--------------------------------------------------------------------------------------------------------------------
ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs 11
service fee amount for the current ($)
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
--------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11
borrower prepays on his loan as reported ($)
by the Servicer.
--------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs 11
loan waived by the servicer. ($)
--------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
--------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha 30
or numeric
--------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs 11
interest advances made by Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
EXHIBIT H-3: CALCULATION OF REALIZED LOSS/GAIN FORM 332- INSTRUCTION SHEET
The numbers on the form correspond with the numbers listed below.
Liquidation and Acquisition Expenses:
1. The Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced is
required.
2. The Total Interest Due less the aggregate amount of servicing fee that
would have been earned if all delinquent payments had been made as agreed.
For documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced is
required.
3. Accrued Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage Loan as calculated on a monthly basis. For documentation, an
Amortization Schedule from date of default through liquidation breaking out
the net interest and servicing fees advanced is required.
4-12. Complete as applicable. All line entries must be supported by copies of
appropriate statements, vouchers, receipts, bills, canceled checks, etc.,
to document the expense. Entries not properly documented will not be
reimbursed to the Servicer.
13. The total of lines 1 through 12.
Credits:
14-21. Complete as applicable. All line entries must be supported by copies of
the appropriate claims forms, EOBs, HUD-1 and/or other proceeds
verification, statements, payment checks, etc. to document the credit. If
the Mortgage Loan is subject to a Bankruptcy Deficiency, the difference
between the Unpaid Principal Balance of the Note prior to the Bankruptcy
Deficiency and the Unpaid Principal Balance as reduced by the Bankruptcy
Deficiency should be input on line 20.
22. The total of lines 14 through 21.
Please note: For HUD/VA loans, use line (15) for Part A/Initial proceeds and
line (16) for Part B/Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
23. The total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis ( ).
EXHIBIT H-3: CALCULATION OF REALIZED LOSS/GAIN FORM 332
XXXXX FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS/GAIN
Prepared by: ____________________________ Date: _______________
Phone: ___________________________________ Email Address:_____________________
----------------- ------------- ----------------
Servicer Loan No. Servicer Name Servicer Address
----------------- ------------- ----------------
XXXXX FARGO BANK, N.A. Loan No. _____________________________________________
Borrower's Name: ____________________________________________________________
Property Address: ___________________________________________________________
LIQUIDATION AND ACQUISITION EXPENSES:
(1) Actual Unpaid Principal Balance of Mortgage Loan $___________________ (1)
(2) Interest accrued at Net Rate ____________________ (2)
(3) Accrued Servicing Fees ____________________ (3)
(4) Attorney's Fees ____________________ (4)
(5) Taxes ____________________ (5)
(6) Property Maintenance ____________________ (6)
(7) MI/Hazard Insurance Premiums ____________________ (7)
(8) Utility Expenses ____________________ (8)
(9) Appraisal/BPO ____________________ (9)
(10) Property Inspections ____________________ (10)
(11) FC Costs/Other Legal Expenses ____________________ (11)
(12) Other (itemize) $___________________ (12)
Cash for Keys _________________________________ ____________________
HOA/Condo Fees ________________________________ ____________________
_______________________________________________ ____________________
_______________________________________________ ____________________
TOTAL EXPENSES $___________________ (13)
CREDITS:
(14) Escrow Balance $___________________ (14)
(15) HIP Refund ____________________ (15)
(16) Rental Receipts ____________________ (16)
(17) Hazard Loss Proceeds ____________________ (17)
(18) Primary Mortgage Insurance Proceeds ____________________ (18)
(19) Pool Insurance Proceeds ____________________ (19)
(20) Proceeds from Sale of Acquired Property ____________________ (20)
(21) Other (itemize) ____________________ (21)
_______________________________________________ ____________________
_______________________________________________ ____________________
TOTAL CREDITS $___________________ (22)
TOTAL REALIZED LOSS (OR AMOUNT OF GAIN) $___________________ (23)
APPENDIX I
Purchase and Servicing Agreement
[Attached hereto]
