Exhibit 99.16(a)
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated
February 1, 2006, (this "Agreement") among Xxxxxx Xxxxxxx Mortgage Capital
Inc. ("Assignor"), Xxxxxx Xxxxxxx Capital I Inc. ("Assignee") and Xxxxx Fargo
Bank, N.A. (in such capacity, the "Company") and acknowledged by LaSalle Bank
National Association ("LaSalle"), as trustee (the "Trustee") of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2006-3AR (the "Trust"), and Xxxxx Fargo Bank, National
Association, as master servicer (or any successor master servicer, the "Master
Servicer"):
For and in consideration of the sum of TEN DOLLARS ($10.00) and
other valuable consideration the receipt and sufficiency of which hereby are
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
Assignment and Conveyance
-------------------------
1. The Assignor hereby conveys, sells, grants, transfers and assigns to
the Assignee all of the right, title and interest of the Assignor, as
purchaser, in, to and under (a) those certain mortgage loans listed on the
schedule (the "Mortgage Loan Schedule") attached hereto as Exhibit I (the
"Mortgage Loans"); (b) those certain Seller's Warranties and Servicing
Agreements, dated as of March 1, 2005, May 1, 2005, July 1, 2005, August 1,
2005, September 1, 2005, November 1, 2005 between the Assignor, as purchaser
(the "Purchaser"), and the Company, as seller and servicer, solely insofar as
the Purchase Agreement relate to the Mortgage Loans. In connection with the
transfer of the Mortgage Loans hereunder, the Company agrees that, from and
after the date hereof, each Mortgage Loan transferred hereunder will be
subject to, and serviced under, the Seller's Warranties and Servicing
Agreement dated as of December 1, 2005 between the Assignor, as purchaser and
the Company, as seller and servicer (the "Purchase Agreement").
The Assignor specifically reserves and does not assign to the
Assignee hereunder any and all right, title and interest in, to and under and
any obligations of the Assignor with respect to any mortgage loans subject to
the Purchase Agreement which are not the Mortgage Loans set forth on the
Mortgage Loan Schedule and are not the subject of this Agreement.
Recognition of the Company
--------------------------
2. From and after February 28, 2006 (the "Closing Date"), the Company
shall and does hereby recognize that the Assignor will transfer the Mortgage
Loans and assign its rights and obligations under the Purchase Agreement
(solely to the extent set forth herein) to the Assignee and that the Assignee
will thereafter on the Closing Date transfer the Mortgage Loans and assign its
rights and obligations under the Purchase Agreement and this Agreement to the
Trust created pursuant to the Pooling and Servicing Agreement, dated as of
February 1, 2006 (the "Pooling Agreement"), among the Assignee, the Trustee,
the Master Servicer and Xxxxx Fargo Bank, National Association, as securities
administrator. The Company hereby acknowledges and agrees that from and after
the Closing Date (i) the Trust will be the owner of the Mortgage Loans, (ii)
the Company shall look solely to the Trust for performance of any obligations
of the Assignor insofar as they relate to the enforcement of the
representations, warranties and covenants with respect to the Mortgage Loans,
(iii) the Trust (including the Trustee and, with respect to the servicing of
the Mortgage Loans, the Master Servicer acting on the Trust's behalf) shall
have all the rights and remedies available to the Assignor, insofar as they
relate to the Mortgage Loans, under the Purchase Agreement, including, without
limitation, the enforcement of the document delivery requirements set forth in
Section 2.03 of the Purchase Agreement, and shall be entitled to
enforce all of the obligations of the Company thereunder insofar as they
relate to the Mortgage Loans, and (iv) all references to the Purchaser
(insofar as they relate to the rights, title and interest and, with respect to
obligations of the Purchaser, only insofar as they relate to the enforcement
of the representations, warranties and covenants of the Company) under the
Purchase Agreement insofar as they relate to the Mortgage Loans, shall be
deemed to refer to the Trust. Neither the Company nor the Assignor shall amend
or agree to amend, modify, waiver, or otherwise alter any of the terms or
provisions of the Purchase Agreement, except as set forth herein, which
amendment, modification, waiver or other alteration would in any way affect
the Mortgage Loans or the Company's performance under the Purchase Agreement
with respect to the Mortgage Loans without the prior written consent of the
Master Servicer.
3. Notwithstanding any statement to the contrary in Section 2 above, the
Company shall and does hereby acknowledge that the indemnification provisions
set forth in the sixth paragraph of Section 3.03, Section 8.01 and Section
9.01(g) of the Purchase Agreement shall be available to and for the benefit of
the Assignor, the Assignee and the Trust (including the Trustee and the Master
Servicer acting on the Trust's behalf), as provided in the Purchase Agreement.
4. Representations and Warranties
------------------------------
a. The Assignee represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith
upon any statements or representations of the Assignor or the Company
other than those contained in the Purchase Agreement or this Agreement.
b. Each of the parties hereto represents and warrants that it is
duly and legally authorized to enter into this Agreement.
c. Each of the Assignor, Assignee and Company hereto represents and
warrants that this Agreement has been duly authorized, executed and
delivered by it and (assuming due authorization, execution and delivery
thereof by each of the other parties hereto) constitutes its legal, valid
and binding obligation, enforceable against it in accordance with its
terms, except as such enforcement may be limited by bankruptcy,
insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by general equitable
principles (regardless of whether such enforcement is considered in a
proceeding in equity or at law).
d. The Company hereby restates, as of the Closing Date, the
representations and warranties set forth in Section 3.01 of the Purchase
Agreement to and for the benefit of the Assignee and the Trust, and by
this reference incorporates such representations and warranties herein,
as of such Closing Date.
5. The Company hereby acknowledges that Xxxxx Fargo Bank, National
Association has been appointed as the Master Servicer of the Mortgage Loans
pursuant to the Pooling Agreement and, therefore, has the right to enforce all
obligations of the Company under the Purchase Agreement. Such rights will
include, without limitation, the right to terminate the Company under the
Purchase Agreement upon the occurrence of an event of default thereunder, the
right to receive all remittances required to be made by the Company under the
Purchase Agreement, the right to receive all monthly reports and other data
required to be delivered by the Company under the Purchase Agreement, the
right to examine the books and records of the Company, indemnification rights
and the right to exercise certain rights of consent and approval
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relating to actions taken by the Assignor. The Company shall make all
distributions under the Purchase Agreement to the Master Servicer by wire
transfer of immediately available funds to:
Xxxxx Fargo Bank, National Association
ABA Number: 000-000-000
Account Name: Corporate Trust Clearing
Account number: 0000000000
For further credit to: 50896100, MSM 2006-3AR
The Company shall deliver all reports required to be delivered under this
Agreement to the Master Servicer at the following address:
Xxxxx Fargo Bank, National Association
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Xxxxxxx, XXX 0000-0XX
Office Number: (000) 000-0000
Telecopier: (000) 000-0000
6. It is expressly understood and agreed by the parties hereto that (i)
this Agreement is executed and delivered by LaSalle, not individually or
personally but solely on behalf of the Trust, as the assignee, in the exercise
of the powers and authority conferred and vested in it, as Trustee, pursuant
to the Pooling Agreement, (ii) each of the representations, undertakings and
agreements herein made on the part of Assignee is made and intended not as
personal representations, undertakings and agreements by LaSalle but is made
and intended for the purpose of binding only the Trust, (iii) nothing herein
contained shall be construed as creating any liability for LaSalle,
individually or personally, to perform any covenant (either express or
implied) contained herein, (iv) under no circumstances shall LaSalle be
personally liable for the payment of any indebtedness or expenses of the
Trust, or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Trust under
this Agreement and (v) all recourse for any payment liability or other
obligation of the assignee shall be had solely to the assets of the Trust.
Amendments to the Purchase Agreement
------------------------------------
7. The parties to this Agreement hereby agree to amend the Purchase
Agreement as follows solely with respect to the Mortgage Loans:
(a) "Permitted Investments" shall have the meaning of such term as
defined in the Pooling Agreement.
(b) Section 3.01(i) (Selection Process), Section 3.01(k) (Sale Treatment)
and Section 3.01(m) (No Broker's Fees) of the Purchase Agreement shall be
inapplicable.
(c) Section 4.05(vii) of the Purchase Agreement is hereby amended to add
the term "Monthly Advances," prior to the term "Servicing Advances."
(d) The third paragraph of Section 4.16 of the Purchase Agreement is
hereby amended and restated in its entirety as follows:
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"The Company shall use its best efforts to dispose of the REO Property as
soon as possible and shall sell such REO Property in any event within one
year after title has been taken to such REO Property, unless (i) a REMIC
election has not been made with respect to the arrangement under which
the Mortgage Loans and the REO Property are held, and (ii) the Company
determines that a longer period is necessary for the orderly liquidation
of such REO Property. If a period longer than one year is permitted under
the foregoing sentence and is necessary to sell any REO Property, (i) the
Company shall report monthly to the Purchaser as to the progress being
made in selling such REO Property and (ii) if a purchase money mortgage
is taken in connection with such sale, such purchase money mortgage shall
name the Company as mortgagee, and such purchase money mortgage shall not
be held pursuant to this Agreement."
(e) The words "on or before the Remittance Date" are hereby deleted from
the first sentence of Section 4.17 of the Purchase Agreement.
(f) The second sentence of the second paragraph of Section 5.01 of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
"Such interest shall be deposited in the Custodial Account by the Company
on the date such late payment is made and shall cover the period
commencing with the day following the Business Day on which such payment
was due and ending with the Business Day on which such payment is made,
both inclusive."
(g) The first paragraph of Section 5.02 of the Purchase Agreement is
hereby amended and restated in its entirety as follows:
"Not later than the Remittance Report Date, the Company shall furnish to
the Purchaser in an electronic form the information required by the
reports attached hereto as Exhibit II, or a form otherwise mutually
agreed to by the Company and Purchaser, with a trial balance report
attached thereto, as to the remittance period ending on the last day of
the preceding month."
(h) Section 6.04 of the Purchase Agreement is hereby modified as follows:
(1) delete paragraph (i) in its entirety;
(2) delete "(ii)"; and
(3) the phrases "Purchaser and any Depositor" and "Purchaser and
such Depositor" are hereby deleted and replaced with "Purchaser
or Master Servicer" and "Purchaser or such Master Servicer",
respectively.
(i) Section 6.05 is hereby deleted in its entirety.
(j) Section 6.06 of the Purchase Agreement is hereby modified as follows:
(1) the phrases "Purchaser and any Depositor" and "Purchaser and
such Depositor" are hereby deleted and replaced with "Purchaser or
Master Servicer" and "Purchaser or such Master Servicer",
respectively;
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(2) Section 6.06(i) is hereby amended by inserting at the end of
such subsection "(or those Servicing Criteria otherwise mutually
agreed to by the Purchaser, the Company and any Person that will be
responsible for signing any Sarbanes Certification with respect to a
Securitization Transaction in response to evolving interpretations
of Regulation AB)"; and
(k) the first word in Section 6.06(iv) is deleted and replaced in its
entirety with "deliver, and cause each Subservicer and Subcontractor described
in clause (iii) above to deliver,"
(l) The following parenthetical is inserted directly before the proviso
in the last sentence of the first paragraph of Section 6.07(i) of the Purchase
Agreement:
"(and if the Company is servicing any of the Mortgage Loans in a
Securitization Transaction, appoint a successor servicer reasonably
acceptable to the Master Servicer for such Securitization Transaction)"
(m) Section 6.10 is hereby deleted in its entirety.
(n) Section 9.01(e) is hereby deleted in its entirety.
(o) Section 9.01(f)(iv) of the Purchase Agreement is hereby amended and
restated in its entirety as follows:
"For the purpose of satisfying its 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) (1) provide prompt notice to the Purchaser, any Master Servicer and
any Depositor in writing of (A) any material litigation or governmental
proceedings pending against 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 Section 9.01(f)(i)(D) (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 (2) provide to
the Purchaser and any Depositor a description of such proceedings,
affiliations or relationships."
(p) Sections 9.01(f)(vi) of the Purchase Agreement is hereby renumbered
as 9.01(f)(viii), and the following new Section 9.01(f)(vi) is hereby inserted
as follows:
"(vi) 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) calendar 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
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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)."
(q) Section 9.01(f)(vii) of the Purchase Agreement is hereby deleted in
its entirety and replaced with the following new Section 9.01(f)(vii) as
follows:
"(vii) The Company shall provide to the Purchaser, any Master Servicer
and any Depositor, evidence of the authorization of the person signing
any certification or statement, copies or other evidence of Fidelity Bond
Insurance and Errors and Omission Insurance policy, financial information
and reports, and such other information related to the Company or any
Subservicer or the Company or such Subservicer's performance hereunder."
(r) Section 9.01(g) of the Purchase Agreement is hereby amended and
restated in its entirety as follows:
"(g) The Company shall indemnify the Purchaser, each affiliate of the
Purchaser, and each of the following parties participating in a
Securitization Transaction: each sponsor and issuing entity; each Person
responsible for the preparation, execution or filing of any report
required to be filed with the Commission with respect to such
Securitization Transaction, or for execution of a certification pursuant
to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect
to such Securitization Transaction; each broker dealer acting as
underwriter, placement agent or initial purchaser, each Person who
controls any of such parties 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 and
agents of each of the foregoing and of the Depositor (each, an
"Indemnified Party"), and shall hold each of them harmless from and
against any losses, damages, penalties, fines, forfeitures, legal fees
and expenses and related costs, judgments, and any other costs, fees and
expenses that any of them may sustain arising out of or based upon:
(i) (A) any untrue statement of a material fact contained or
alleged to be contained in any information, report, certification,
accountants' letter or other material provided under Sections 4.25,
6.04, 6.06, and 9.01(f) by or on behalf of the Company, or provided
under Sections 4.25, 6.04, 6.06 and 9.01(f) by or on behalf of any
Subservicer, Subcontractor or Third-Party Originator (collectively,
the "Company Information"), or (B) the omission or
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alleged 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, or 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, Sections 4.25, 6.04, 6.06 and 9.01(f), including any
failure by the Company to identify any Subcontractor "participating
in the servicing function" within the meaning of Item 1122 of
Regulation AB; or
(iii) any breach by the Company of a representation or warranty
set forth in Section 9.01(f)(vi)(A) or in a writing furnished
pursuant to Section 9.01(f)(vi)(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 Section 9.01(f)(vi)(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 Article IX.
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 sub-clause (ii) of
this Section 9.01(g), the Company shall promptly reimburse the Purchaser,
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."
(s) The following paragraph is hereby incorporated into the Purchase
Agreement as new Section 13:
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"Third Party Beneficiary. For purposes of this Agreement, including
but not limited to Subsections 6.04 and 6.06, any Master Servicer shall
be considered a third party beneficiary to this Agreement entitled to all
the rights and benefits accruing to any Master Servicer herein as if it
were a direct party to this Agreement."
(t) Section 10.01(i) of the Purchase Agreement is hereby amended and
restated in its entirety as follows:
"any failure by the Company to remit to the Purchaser any payment
required to be made under the terms of this Agreement which continues
unremedied for a period of five (5) Business Days after the date upon
which written notice of such failure, requiring the same to be remedied,
shall have been given to the Company by the Purchaser; or"
(u) Section 10.01(ii) of the Purchase Agreement is hereby amended and
restated in its entirety as follows:
"failure by the Company duly to observe or perform in any material
respect any other of the covenants or agreements on the part of the
Company set forth in this Agreement (other than as set forth in Section
6.07) which continues unremedied for a period of 90 days after the date
on which written notice of such failure, requiring the same to be
remedied, shall have been given to the Company by the Purchaser or by the
Custodian; or"
(v) The word "or" added to the end of Section 10.01(ix) of the Purchase
Agreement and the following paragraph is hereby incorporated into the Purchase
Agreement as new Section 10.01(x):
"(x) failure by the Servicer to duly perform, within the required time
period, its obligations under Sections 6.04 or 6.06 which failure
continues unremedied for a period of fourteen (14) calendar days after
the date on which written notice of such failure, requiring the same to
be remedied, shall have been given to the Servicer by any party to this
Agreement or by any master servicer responsible for master servicing the
Mortgage Loans pursuant to a securitization of such Mortgage Loans."
(w) Exhibit J to the Purchase Agreement is hereby replaced in its
entirety with Exhibit A-1 to this Agreement.
Miscellaneous
-------------
8. Any notices or other communications permitted or required under the
Agreement to be made to the Assignor, Assignee, the Master Servicer, the
Company, and the Trustee shall be made in accordance with the terms of the
Agreement and shall be sent to the Depositor and Trustee as follows:
In the case of the Depositor:
Xxxxxx Xxxxxxx Capital I Inc.
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0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-3AR
In the case of the Trustee:
LaSalle Bank National Association
000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attention: Global Securities and Trust Services MSM 2006-3AR
In the case of the Company:
Xxxxx Fargo Bank, N.A.
1 Home Campus
Xxx Xxxxxx, Xxxx 00000-0000
Attention: Xxxx X. Xxxxx, MAC X2401-042
Xxxxx Fargo Bank, N.A.
0000 Xxx Xxxxxxxxxx Xxx
Xxxxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance, MAC X3906-012
With a copy to:
Xxxxx Fargo Bank, N.A.
1 Home Campus
Xxx Xxxxxx, Xxxx 00000-0000
Attention: General Counsel, MAC X2401-06T
9. This Agreement shall be construed in accordance with the laws of the
State of New York, without regard to conflicts of law principles
(except Section 5-1401 of the General Obligations Law), and the
obligations, rights and remedies of the parties hereunder shall be
determined in accordance with such laws.
10. No term or provision of this Agreement may be waived or modified
unless such waiver or modification is in writing and signed by the
party against whom such waiver or modification is sought to be
enforced.
11. This Agreement shall inure to the benefit of (i) the successors and
assigns of the parties hereto and (ii) the Trust (including the
Trustee and the Master Servicer acting on the Trust's behalf). Any
entity into which Assignor, Assignee or Company may be merged or
consolidated shall, without the requirement for any further writing,
be deemed Assignor, Assignee or Company, respectively, hereunder.
12. Each of this Agreement and the Purchase Agreement shall survive the
conveyance of the Mortgage Loans and the assignment of the Purchase
Agreement (solely with respect to the Mortgage Loans) by Assignor to
Assignee
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and nothing contained herein shall supersede or amend the terms of
the Purchase Agreement.
13. This Agreement may be executed simultaneously in any number of
counterparts. Each counterpart shall be deemed to be an original and
all such counterparts shall constitute one and the same instrument.
14. In the event that any provision of this Agreement conflicts with any
provision of the Purchase Agreement with respect to the Mortgage
Loans, the terms of this Agreement shall control.
15. Capitalized terms used in this Agreement (including the exhibits
hereto) but not defined in this Agreement shall have the meanings
given to such terms in the Purchase Agreement.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized officers as of the date first above written.
XXXXXX XXXXXXX MORTGAGE CAPITAL INC.,
as Assignor
By: /s/ Xxxxxx Xxxxxxx
-----------------------------------
Name: Xxxxxx Xxxxxxx
Title: Executive Director
XXXXXX XXXXXXX CAPITAL I INC.,
as Assignee
By: /s/ Xxxxxx Xxxxxxx
-----------------------------------
Name: Xxxxxx Xxxxxxx
Title: Vice President
XXXXX FARGO BANK, National Association,
as Company
By: /s/ Xxxxxxx Xxxxxx
-----------------------------------
Name: Xxxxxxx Xxxxxx
Title: Senior Vice President
Acknowledged and Agreed:
XXXXX FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Xxxxxx X. Xxxxxx
----------------------------------
Name: Xxxxxx X. Xxxxxx
Title: Assistant Vice President
LASALLE BANK NATIONAL ASSOCIATION,
as Trustee of Xxxxxx Xxxxxxx
Mortgage Loan Trust 2006-3AR
By: /s/ Xxxxx X. Xxxx
----------------------------------
Name: Xxxxx X. Xxxx
Title: Assistant Vice President
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EXHIBIT I
Mortgage Loan Schedule
[see Schedule A to Pooling and Servicing Agreement]
EXH. I-1
EXHIBIT II
Exhibit IIA: Standard File Layout - Delinquency Reporting
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Column/Header Name Description Decimal Format Comment
--------------------------- ------------------------------------------------------------- ------------ ---------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This
may be different than the LOAN_NBR
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOAN_NBR A unique identifier assigned to each loan by the originator.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
CLIENT_NBR Servicer Client Number
--------------------------- ------------------------------------------------------------- ------------ ---------------------
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 MM/DD/YYYY
servicer at the end of processing cycle, as
reported by Servicer.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy
filing.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY
by the courts
--------------------------- ------------------------------------------------------------- ------------ ---------------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either by MM/DD/YYYY
Dismissal, Discharged and/or a Motion For Relief Was
Granted.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the servicer with MM/DD/YYYY
instructions to begin foreclosure proceedings.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY
Action
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the property MM/DD/YYYY
from the borrower.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the MM/DD/YYYY
Servicer.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
OCCUPANT_CODE Classification of how the property is occupied.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
--------------------------- ------------------------------------------------------------- ------------ ---------------------
PROP_CONDITION_CODE A code that indicates the condition of the property.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
CURR_PROP_VAL The current "as is" value of the property based on brokers 2
price opinion or appraisal.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2
completed pursuant to a broker's price opinion or appraisal.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
If applicable:
--------------
--------------------------- ------------------------------------------------------------- ------------ ---------------------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
--------------------------- ------------------------------------------------------------- ------------ ---------------------
DELINQ_REASON_CODE The circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in default
for this cycle.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage MM/DD/YYYY
Insurance Company.
--------------------------- ------------------------------------------------------------- ------------ ---------------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY
Insurer
--------------------------- ------------------------------------------------------------- ------------ ---------------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_A_CLAIM_FILED_DATE Date FHA Part A Claim Was Filed With HUD MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY
--------------------------- ------------------------------------------------------------- ------------ ---------------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or
dollar signs ($)
--------------------------- ------------------------------------------------------------- ------------ ---------------------
-2-
Exhibit IIB: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
Xxxxx Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
The FNMA Delinquent Reason Code field should show the Reason for Delinquency
as follows:
---------------- ----------------------------------------------
Delinquency Code Delinquency Description
---------------- ----------------------------------------------
001 FNMA-Death of principal mortgagor
---------------- ----------------------------------------------
002 FNMA-Illness of principal mortgagor
---------------- ----------------------------------------------
003 FNMA-Illness of mortgagor's family member
---------------- ----------------------------------------------
004 FNMA-Death of mortgagor's family member
---------------- ----------------------------------------------
005 FNMA-Marital difficulties
---------------- ----------------------------------------------
006 FNMA-Curtailment of income
---------------- ----------------------------------------------
007 FNMA-Excessive Obligation
---------------- ----------------------------------------------
008 FNMA-Abandonment of property
---------------- ----------------------------------------------
009 FNMA-Distant employee transfer
---------------- ----------------------------------------------
-3-
---------------- ----------------------------------------------
011 FNMA-Property problem
---------------- ----------------------------------------------
012 FNMA-Inability to sell property
---------------- ----------------------------------------------
013 FNMA-Inability to rent property
---------------- ----------------------------------------------
014 FNMA-Military Service
---------------- ----------------------------------------------
015 FNMA-Other
---------------- ----------------------------------------------
016 FNMA-Unemployment
---------------- ----------------------------------------------
017 FNMA-Business failure
---------------- ----------------------------------------------
019 FNMA-Casualty loss
---------------- ----------------------------------------------
022 FNMA-Energy environment costs
---------------- ----------------------------------------------
023 FNMA-Servicing problems
---------------- ----------------------------------------------
026 FNMA-Payment adjustment
---------------- ----------------------------------------------
027 FNMA-Payment dispute
---------------- ----------------------------------------------
029 FNMA-Transfer of ownership pending
---------------- ----------------------------------------------
030 FNMA-Fraud
---------------- ----------------------------------------------
031 FNMA-Unable to contact borrower
---------------- ----------------------------------------------
INC FNMA-Incarceration
---------------- ----------------------------------------------
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
------------------ --------------------------------------------
Status Code Status Description
------------------ --------------------------------------------
09 Forbearance
------------------ --------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------ --------------------------------------------
24 Government Seizure
------------------ --------------------------------------------
26 Refinance
------------------ --------------------------------------------
27 Assumption
------------------ --------------------------------------------
28 Modification
------------------ --------------------------------------------
29 Charge-Off
------------------ --------------------------------------------
30 Third Party Sale
------------------ --------------------------------------------
31 Probate
------------------ --------------------------------------------
32 Military Indulgence
------------------ --------------------------------------------
43 Foreclosure Started
------------------ --------------------------------------------
44 Deed-in-Lieu Started
------------------ --------------------------------------------
49 Assignment Completed
------------------ --------------------------------------------
61 Second Lien Considerations
------------------ --------------------------------------------
62 Veteran's Affairs-No Bid
------------------ --------------------------------------------
63 Veteran's Affairs-Refund
------------------ --------------------------------------------
64 Veteran's Affairs-Buydown
------------------ --------------------------------------------
65 Chapter 7 Bankruptcy
------------------ --------------------------------------------
66 Chapter 11 Bankruptcy
------------------ --------------------------------------------
67 Chapter 13 Bankruptcy
------------------ --------------------------------------------
-4-
Exhibit IIC: Standard File Layout - Master Servicing
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
Column Name Description Decimal Format Comment Max Size
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SER_INVESTOR_NBR A value assigned by the Servicer to define a group Text up to 10 digits 20
of loans.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
LOAN_NBR A unique identifier assigned to each loan by the Text up to 10 digits 10
investor.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the LOAN_NBR.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
BORROWER_NAME The borrower name as received in the file. It is Maximum length of 30 (Last, First) 30
not separated by first and last name.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) or dollar signs ($) 11
payment that a borrower is expected to pay, P&I
constant.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by 4 Max length of 6 6
the Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_FEE_AMT The servicer's fee amount for a loan as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
NEW_PAY_AMT The new loan payment amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the 2 No commas(,) or dollar signs ($) 11
beginning of the processing cycle.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end 2 No commas(,) or dollar signs ($) 11
of the processing cycle.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
borrower's next payment is due to the Servicer, as
reported by Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_DATE_1 The curtailment date associated with the first MM/DD/YYYY 10
curtailment amount.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
PIF_AMT The loan "paid in full" amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
Action Code Key: 15=Bankruptcy, 2
00xXxxxxxxxxxx, , 00xXXX,
63=Substitution, 65=Repurchase,
70=REO
ACTION_CODE The standard FNMA numeric code used to
indicate the default/delinquent status
of a particular loan.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
INT_ADJ_AMT The amount of the interest adjustment as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar signs ($) 11
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) or dollar signs ($) 11
applicable.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at 2 No commas(,) or dollar signs ($) 11
the beginning of the cycle date to be passed
through to investors.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors 2 No commas(,) or dollar signs ($) 11
at the end of a processing cycle.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current cycle -- only
applicable for Scheduled/Scheduled
Loans.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 11
service fee amount for the current cycle
as reported by the Servicer -- only
applicable for Scheduled/Scheduled
Loans.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle
-- only applicable for Actual/Actual
Loans.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
ACTL_NET_INT The actual gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current reporting
cycle as reported by the Servicer --
only applicable for Actual/Actual Loans.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or dollar signs ($) 11
prepays on his loan as reported by the Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
-2-
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived 2 No commas(,) or dollar signs ($) 11
by the servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
MOD_DATE The Effective Payment Date of the Modification for MM/DD/YYYY 10
the loan.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
MOD_TYPE The Modification Type. Varchar - value can be alpha or 30
numeric
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or dollar signs ($) 11
advances made by Servicer.
---------------------- ---------------------------------------------------- --------- ---------------------------------- ---------
-3-
Exhibit IID : Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and all
credits as separate line items. Claim packages are due on the remittance
report date. Late submissions may result in claims not being passed until
the following month. The Servicer is responsible to remit all funds
pending loss approval and /or resolution of any disputed items.
(a)
(b) The numbers on the 332 form correspond with the numbers listed below.
Liquidation and Acquisition Expenses:
-------------------------------------
1. The Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees
advanced is required.
2. The Total Interest Due less the aggregate amount of servicing fee
that would have been earned if all delinquent payments had been made
as agreed. For documentation, an Amortization Schedule from date of
default through liquidation breaking out the net interest and
servicing fees advanced is required.
3. Accrued Servicing Fees based upon the Scheduled Principal Balance of
the Mortgage Loan as calculated on a monthly basis. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees
advanced is required.
4-12. Complete as applicable. Required documentation:
* For taxes and insurance advances - see page 2 of 332 form -
breakdown required showing period
of coverage, base tax, interest, penalty. Advances prior to
default require evidence of servicer efforts to recover
advances.
* For escrow advances - complete payment history
(to calculate advances from last positive escrow balance
forward)
* Other expenses - copies of corporate advance history showing
all payments
* REO repairs > $1500 require explanation
* REO repairs >$3000 require evidence of at least 2 bids.
* Short Sale or Charge Off require P&L supporting the decision
and WFB's approved Officer Certificate
* Unusual or extraordinary items may require further
documentation.
13. The total of lines 1 through 12.
(c) Credits:
--------
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale, bid
instructions and Escrow Agent / Attorney
Letter of Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined on the 332 form
22. The total of lines 14 through 21.
Please Note: For HUD/VA loans, use line (18a) for Part A/Initial
proceeds and line (18b) for Part B/Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
-------------------------------------------
23. The total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis ( ).
Exhibit IIE: Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
______________________ ______________________ ______________________
Servicer Loan No. Servicer Name Servicer Address
______________________ ______________________ ______________________
XXXXX FARGO BANK, N.A. Loan No._____________________________
Borrower's Name: ________________________________________________________
Property Address: _______________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount _________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $ ___________(1)
(2) Interest accrued at Net Rate _____________(2)
(3) Accrued Servicing Fees _____________(3)
(4) Attorney's Fees _____________(4)
(5) Taxes (see page 2) _____________(5)
(6) Property Maintenance _____________(6)
(7) MI/Hazard Insurance Premiums (see page 2) _____________(7)
(8) Utility Expenses _____________(8)
(9) Appraisal/BPO _____________(9)
(10) Property Inspections _____________(10)
(11) FC Costs/Other Legal Expenses _____________(11)
(12) Other (itemize) _____________(12)
Cash for Keys__________________________ _____________(12)
HOA/Condo Fees_______________________ _____________(12)
______________________________________ _____________(12)
Total Expenses $____________(13)
Credits:
(14) Escrow Balance $____________(14)
(15) HIP Refund _____________(15)
(16) Rental Receipts _____________(16)
(17) Hazard Loss Proceeds _____________(17)
(18) Primary Mortgage Insurance / Gov't Insurance _____________(18a)
HUD Part A
_____________(18b)
HUD Part B
(19) Pool Insurance Proceeds _____________(19)
(20) Proceeds from Sale of Acquired Property _____________(20)
(21) Other (itemize) _____________(21)
_________________________________________ _____________(21)
Total Credits $____________(22)
Total Realized Loss (or Amount of Gain) $____________(23)
Escrow Disbursement Detail
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
------------------ --------------- ---------------- ---------------- ---------------- --------------- ----------------
EXHIBIT A-1
SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
The assessment of compliance to be delivered by [the Company] [Name of
Subservicer] shall address, at a minimum, the criteria identified as below as
"Applicable Servicing Criteria";
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Reference Criteria
---------------------- --------------------------------------------------------------------------- -------------------
General Servicing Considerations
---------------------- --------------------------------------------------------------------------- -------------------
Policies and procedures are instituted to monitor any performance or X
other triggers and events of default in accordance with the
1122(d)(1)(i) transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
If any material servicing activities are outsourced to third parties, X
policies and procedures are instituted to monitor the third party's
1122(d)(1)(ii) performance and compliance with such servicing activities.
---------------------- --------------------------------------------------------------------------- -------------------
Any requirements in the transaction agreements to
maintain a back-up servicer for the mortgage loans are
1122(d)(1)(iii) maintained.
---------------------- --------------------------------------------------------------------------- -------------------
A fidelity bond and errors and omissions policy is in effect on the X
party participating in the servicing function throughout the reporting
period in the amount of coverage required by and otherwise in accordance
1122(d)(1)(iv) with the terms of the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Cash Collection and Administration
---------------------- --------------------------------------------------------------------------- -------------------
Payments on mortgage loans are deposited into the appropriate custodial X
bank accounts and related bank clearing accounts no more than two
business days following receipt, or such other number of days specified
1122(d)(2)(i) in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Disbursements made via wire transfer on behalf of an obligor or to an X
1122(d)(2)(ii) investor are made only by authorized personnel.
---------------------- --------------------------------------------------------------------------- -------------------
Advances of funds or guarantees regarding collections, cash flows or X
distributions, and any interest or other fees charged for such advances,
are made, reviewed and approved as specified in the transaction
1122(d)(2)(iii) agreements.
---------------------- --------------------------------------------------------------------------- -------------------
The related accounts for the transaction, such as cash reserve accounts
or accounts established as a form of overcollateralization, are
separately maintained (e.g., with respect to commingling of cash) as set X
1122(d)(2)(iv) forth in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
EXH. A-1-1
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Reference Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Each custodial account is maintained at a federally insured depository X
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
1122(d)(2)(v) Exchange Act.
---------------------- --------------------------------------------------------------------------- -------------------
1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. X
---------------------- --------------------------------------------------------------------------- -------------------
Reconciliations are prepared on a monthly basis for all asset-backed X
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
1122(d)(2)(vii) number of days specified in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Investor Remittances and Reporting
---------------------- --------------------------------------------------------------------------- -------------------
Reports to investors, including those to be filed with the Commission, X
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
1122(d)(3)(i) balance and number of mortgage loans serviced by the Servicer.
---------------------- --------------------------------------------------------------------------- -------------------
Amounts due to investors are allocated and remitted in accordance with X
timeframes, distribution priority and other terms set forth in the
1122(d)(3)(ii) transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Disbursements made to an investor are posted within two business days to
the Servicer's investor records, or such other number of days specified X
1122(d)(3)(iii) in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Amounts remitted to investors per the investor reports agree with
cancelled checks, or other form of payment, or custodial bank X
1122(d)(3)(iv) statements.
---------------------- --------------------------------------------------------------------------- -------------------
Pool Asset Administration
---------------------- --------------------------------------------------------------------------- -------------------
EXH. A-1-2
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Reference Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Collateral or security on mortgage loans is maintained as required by X
1122(d)(4)(i) the transaction agreements or related mortgage loan documents.
---------------------- --------------------------------------------------------------------------- -------------------
Mortgage loan and related documents are safeguarded as required by the X
1122(d)(4)(ii) transaction agreements
---------------------- --------------------------------------------------------------------------- -------------------
Any additions, removals or substitutions to the asset pool are made, X
reviewed and approved in accordance with any conditions or requirements
1122(d)(4)(iii) in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Payments on mortgage loans, including any payoffs, made in accordance X
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
1122(d)(4)(iv) accordance with the related mortgage loan documents.
---------------------- --------------------------------------------------------------------------- -------------------
The Servicer's records regarding the mortgage loans agree with the X
Servicer's records with respect to an obligor's unpaid principal
1122(d)(4)(v) balance.
---------------------- --------------------------------------------------------------------------- -------------------
Changes with respect to the terms or status of an obligor's mortgage X
loans (e.g., loan modifications or re-agings) are made, reviewed and
approved by authorized personnel in accordance with the transaction
1122(d)(4)(vi) agreements and related pool asset documents.
---------------------- --------------------------------------------------------------------------- -------------------
Loss mitigation or recovery actions (e.g., forbearance plans, X
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
1122(d)(4)(vii) established by the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Records documenting collection efforts are maintained during the period X
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
1122(d)(4)(viii) delinquency is deemed temporary (e.g., illness or unemployment).
---------------------- --------------------------------------------------------------------------- -------------------
Adjustments to interest rates or rates of return for mortgage loans with X
variable rates are computed based on the related mortgage loan
1122( d)( 4 )(ix) documents.
---------------------- --------------------------------------------------------------------------- -------------------
EXH. A-1-3
----------------------------------------------------------------------------------------------------------------------
Applicable
Servicing
Servicing Criteria Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Reference Criteria
---------------------- --------------------------------------------------------------------------- -------------------
Regarding any funds held in trust for an obligor (such as escrow X
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,
1122( d)( 4 )(x) or such other number of days specified in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Payments made on behalf of an obligor (such as tax or insurance X
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
1122( d)( 4 )(xi) in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Any late payment penalties in connection with any payment to be made on X
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
1122(d)(4)(xii) or omission.
---------------------- --------------------------------------------------------------------------- -------------------
Disbursements made on behalf of an obligor are posted within two X
business days to the obligor's records maintained by the servicer, or
1122(d)(4)(xiii) such other number of days specified in the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Delinquencies, charge-offs and uncollectible accounts are recognized and X
1122(d)(4)(xiv) recorded in accordance with the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
Any external enhancement or other support, identified in Item 1114(a)(1)
through (3) or Item 1115 of Regulation AB, is maintained as set forth in
1122(d)(4)(xv) the transaction agreements.
---------------------- --------------------------------------------------------------------------- -------------------
EXH. A-1-4
[XXXXX FARGO BANK, NATIONAL ASSOCIATION]
[NAME OF SUBSERVICER]
Date: ________________________________
By: ________________________________
Name:
Title:
EXH. A-1-5
