November 1, 2005
Colonial Savings, F.A.
0000 Xxxx Xxxxxxx
Xxxx Xxxxx, Xxxxx 00000
Attention: X. Xxxxx Xxxxxxx
Reference is made to that certain Correspondent Servicing Agreement,
dated as of June 26, 2002 (the "Servicing Agreement") annexed as Exhibit C,
among Colonial Savings, F.A. (the "Servicer"), Xxxxxx Brothers Bank, FSB (the
"Bank") and Aurora Loan Services Inc. (the "Master Servicer"). This notice
constitutes a "Transfer Notice" as contemplated by Section 7.01 of the Servicing
Agreement. Capitalized terms used herein without definition and defined in the
Servicing Agreement are used herein as defined therein. Reference is also made
to that certain Assignment and Assumption Agreement, dated as of November 1,
2005 (the "Assignment") annexed as Exhibit A, by and between the Bank and Xxxxxx
Brothers Holdings Inc. (the "Owner") pursuant to which the Owner acquired from
the Bank all of the Bank's right, title and interest in and to certain of the
Mortgage Loans currently serviced under the Servicing Agreement and assumed for
the benefit of the Servicer and the Bank the rights and obligations of the Bank
as owner of such Mortgage Loans pursuant to the Servicing Agreement. Exhibits
D-1 and D-2 hereto shall supercede Exhibits C-1 and C-2 to the Servicing
Agreement.
The Servicer is hereby notified that the Owner has effected a
Reconstitution with respect to the mortgage loans listed on the attached
schedule (the "Mortgage Loans"). The Servicer is hereby advised of the following
with respect to such Reconstitution and the related Mortgage Loans:
EFFECTIVE DATE OF RECONSTITUTION: November 1, 2005
CUT-OFF DATE: November 1, 2005
NEW OWNER: HSBC Bank USA, National Association, as trustee for the
Structured Asset Securities Corporation, Series 2005-22
Certificateholders
MASTER SERVICER: Aurora Loan Services LLC
The Servicer is also hereby advised that a REMIC election has been made
with respect to the Mortgage Loans subject to the Reconstitution.
By countersigning this notice and returning it to the Master Servicer
named above, the Servicer hereby acknowledges and agrees that, from and after
the Effective Date, the Servicer shall service the Mortgage Loans in accordance
with the terms of the Servicing Agreement for the benefit of the New Owner named
above, as the Owner of the Mortgage Loans. From and after the Effective Date,
the New Owner named above shall have the same rights under the Servicing
Agreement as the Initial Owner named therein with respect to the Mortgage Loans.
In addition to the terms and conditions set forth in the Servicing
Agreement, the Servicer hereby acknowledges and agrees that on or before the
last day of February of each year, beginning with February 28, 2006, the
Servicer, at its own expense, will deliver to the Owner and the Master Servicer
a Servicing Officer's certificate stating, as to each signer thereof, that (i) a
review of the activities of the Servicer during such preceding fiscal year and
of performance under this Agreement has been made under such officers'
supervision and (ii) to the best of such officers' knowledge, based on such
review, the Servicer has fulfilled all its obligations under this Agreement for
such year, or, if there has been a default in the fulfillment of all such
obligations, specifying each such default known to such officer and the nature
and status thereof including the steps being taken by the Servicer to remedy
such default.
For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as
amended, ("Xxxxxxxx-Xxxxx") is required to be given on behalf of Structured
Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series
2005-22 (the "Trust Fund,") no later than March 15th of each year (or if not a
Business Day, the immediately preceding Business Day), or at any other time that
the Master Servicer, Structured Asset Securities Corporation (the "Depositor"),
Xxxxx Fargo Bank, National Association (the "Securities Administrator") or HSBC
Bank USA, National Association (the "Trustee") provides a certification pursuant
to Xxxxxxxx-Xxxxx and upon thirty (30) days written request of such parties, an
officer of the Servicer shall execute and deliver an Officer's Certificate to
the Master Servicer, the Trustee and the Depositor for the benefit of the Trust
Fund and the Master Servicer, the Trustee and the Depositor and their officers,
directors and affiliates, in the form of Exhibit B hereto.
[SIGNATURE PAGE IMMEDIATELY FOLLOWS]
2
XXXXXX BROTHERS HOLDINGS INC., as Owner
By:___________________________
Name: Xxxxx Xxxxxxx
Title: Authorized Signatory
Acknowledged by:
COLONIAL SAVINGS, F.A.,
as Servicer
By:_______________________________
Name: Xxxx Xxxxx
Title: Senior Vice President
EXHIBIT A
Assignment Agreement
[INTENTIONALLY OMITTED]
A-1
EXHIBIT B
Structured Asset Securities Corporation
000 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Aurora Loan Services LLC
000 Xxxxxxxxx Xxxxx Xxxxx
Xxxxxxxxx, XX 00000
Mail Stop Code - 3195
Re: Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through
Certificates, Series 2005-22
--------------------------------------------------------------------
Reference is made to the Transfer Notice, dated as of August 1, 2005 (the
"Notice"), by and among Xxxxxx Brothers Holdings Inc., as owner and Colonial
Savings, F.A., as servicer (the "Servicer"). I, [identify the certifying
individual], a [title] of the Servicer, hereby certify to HSBC Bank USA,
National Association, as trustee (the "Trustee"), Aurora Loan Services LLC, as
master servicer (the "Master Servicer") and Structured Asset Securities
Corporation, as depositor (the "Depositor"), and their respective officers,
directors and affiliates, and with the knowledge and intent that they will rely
upon this certification, that:
1. I have reviewed the information required to be delivered to the Master
Servicer pursuant to the Servicing Agreement (the "Servicing Information");
2. Based on my knowledge, the Servicing Information does not contain any
material untrue information or omit to state information necessary to make
the Servicing Information, in light of the circumstances under which such
information was provided, not misleading as of the date of this
certification;
3. Based on my knowledge, the Servicing Information has been provided to the
Master Servicer when and as required under the Servicing Agreement;
4. I am responsible for reviewing the activities performed by the Servicer
under the Servicing Agreement, and based upon the review required
thereunder, and except as disclosed in writing to you on or prior to the
date of this certification ( a copy of which disclosure is attached
hereto), the Servicer has, as of the date of this certification, fulfilled
its obligations under this Servicing Agreement; and
B-1
5. I have disclosed to the accountants conducting the annual review required
under Section 6.05 of the Servicing Agreement all significant deficiencies
relating to the Servicer's compliance with the Servicing Agreement.
COLONIAL SAVINGS, F.A.
Name: ____________________________
Title: ____________________________
Date: ____________________________
B-2
EXHIBIT C
Servicing Agreement
See Exhibit 99.4
C-1
EXHIBIT D-1
FORM OF MONTHLY REMITTANCE ADVICE
FIELD NAME DESCRIPTION FORMAT
---------- ----------- ------
INVNUM INVESTOR LOAN NUMBER Number no decimals
SERVNUM SERVICER LOAN NUMBER, REQUIRED Number no decimals
BEGSCHEDBAL BEGINNING SCHEDULED BALANCE FOR SCHED/SCHED Number two decimals
BEGINNING TRAIL BALANCE FOR ACTUAL/ACTUAL,
REQUIRED
SCHEDPRIN SCHEDULED PRINCIPAL AMOUNT FOR SCHEDULED/SCHEDULED Number two decimals
ACTUAL PRINCIPAL COLLECTED FOR ACTUAL/ACTUAL,
REQUIRED, .00 IF NO COLLECTIONS
CURT1 CURTAILMENT 1 AMOUNT, .00 IF NOT APPLICABLE Number two decimals
CURT1DATE CURTAILMENT 1 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY
CURT1ADJ CURTAILMENT 1 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals
CURT2 CURTAILMENT 2 AMOUNT, .00 IF NOT APPLICABLE Number two decimals
CURT2DATE CURTAILMENT 2 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY
CURT2ADJ CURTAILMENT 2 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals
LIQPRIN PAYOFF, LIQUIDATION PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals
OTHPRIN OTHER PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals
PRINREMIT TOTAL PRINCIPAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals
INTREMIT NET INTEREST REMIT, INCLUDE PAYOFF INTEREST, Number two decimals
.00 IF NOT APPLICABLE
TOTREMIT TOTAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals
ENDSCHEDBAL ENDING SCHEDULED BALANCE FOR SCHEDULED/SCHEDULED Number two decimals
ENDING TRIAL BALANCE FOR ACTUAL/ACTUAL
.00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF
ENDACTBAL ENDING TRIAL BALANCE Number two decimals
.00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF
ENDDUEDATE ENDING ACTUAL DUE DATE, NOT LAST PAID INSTALLMENT DD-MMM-YY
ACTCODE 60 IF PAIDOFF, BLANK IF NOT APPLICABLE Number no decimals
ACTDATE ACTUAL PAYOFF DATE, BLANK IF NOT APPLICABLE DD-MMM-YY
INTRATE INTEREST RATE, REQUIRED Number seven decimals
Example .0700000 for 7.00%
SFRATE SERVICE FEE RATE, REQUIRED Number seven decimals
Example .0025000 for .25%
PTRATE PASS THRU RATE, REQUIRED Number seven decimals
Example .0675000 for 6.75%
PIPMT P&I CONSTANT, REQUIRED Number two decimals
.00 IF PAIDOFF
D-1-1
EXHIBIT D-2
STANDARD LAYOUT FOR MONTHLY DEFAULTED LOAN REPORT
------------------------------------------------------------------------------------------------------------------------------------
DATA FIELD FORMAT DATA DESCRIPTION
------------------------------------------------------------------------------------------------------------------------------------
% of MI coverage NUMBER(6,5) The percent of coverage provided by the
PMI company in the event of loss on a
defaulted loan.
------------------------------------------------------------------------------------------------------------------------------------
Actual MI claim filed date DATE(MM/DD/YYYY) Actual date that the claim was submitted
to the PMI company.
------------------------------------------------------------------------------------------------------------------------------------
Actual bankruptcy start date DATE(MM/DD/YYYY) Actual date that the bankruptcy petition
is filed with the court.
------------------------------------------------------------------------------------------------------------------------------------
Actual MI claim amount filed NUMBER(15,2) The amount of the claim that was filed by
the servicer with the PMI company.
------------------------------------------------------------------------------------------------------------------------------------
Actual discharge date DATE(MM/DD/YYYY) Actual date that the Discharge Order is
entered in the bankruptcy docket.
------------------------------------------------------------------------------------------------------------------------------------
Actual due date DATE(MM/DD/YYYY) Actual due date of the next outstanding
payment amount due from the mortgagor.
------------------------------------------------------------------------------------------------------------------------------------
Actual eviction complete DATE(MM/DD/YYYY) Actual date that the eviction proceedings
date are completed by local counsel.
------------------------------------------------------------------------------------------------------------------------------------
Actual eviction start date DATE(MM/DD/YYYY) Actual date that the eviction proceedings
are commenced by local counsel.
------------------------------------------------------------------------------------------------------------------------------------
Actual first legal date DATE(MM/DD/YYYY) Actual date that foreclosure counsel
filed the first legal action as defined
by state statute.
------------------------------------------------------------------------------------------------------------------------------------
Actual redemption end date DATE(MM/DD/YYYY) Actual date that the foreclosure
redemption period expires.
------------------------------------------------------------------------------------------------------------------------------------
Bankruptcy chapter VARCHAR2(2) 7= Chapter 7 filed 11= Chapter 11 filed Chapter of bankruptcy filed.
12= Chapter 12 filed 13= Chapter 13 filed
------------------------------------------------------------------------------------------------------------------------------------
Bankruptcy flag VARCHAR2(2) Y=Active Bankruptcy N=No Active Bankruptcy Servicer defined indicator that
identifies that the property is an asset
in an active bankruptcy case.
------------------------------------------------------------------------------------------------------------------------------------
Bankruptcy Case Number VARCHAR2(15) The court assigned case number of the
bankruptcy filed by a party with interest
in the property.
------------------------------------------------------------------------------------------------------------------------------------
D-2-1
------------------------------------------------------------------------------------------------------------------------------------
MI claim amount paid NUMBER(15,2) The amount paid to the servicer by
the PMI company as a result of
submitting an MI claim.
------------------------------------------------------------------------------------------------------------------------------------
MI claim funds received DATE(MM/DD/YYYY) Actual date that funds were
date received from the PMI company as a
result of transmitting an MI claim.
------------------------------------------------------------------------------------------------------------------------------------
Current loan amount NUMBER(10,2) Current unpaid principal balance of
the loan as of the date of
reporting to Aurora Master
Servicing.
------------------------------------------------------------------------------------------------------------------------------------
Date FC sale scheduled DATE(MM/DD/YYYY) Date that the foreclosure sale is
scheduled to be held.
------------------------------------------------------------------------------------------------------------------------------------
Date relief/dismissal DATE(MM/DD/YYYY) Actual date that the dismissal or
granted relief from stay order is entered
by the bankruptcy court.
------------------------------------------------------------------------------------------------------------------------------------
Date REO offer accepted DATE(MM/DD/YYYY) Actual date of acceptance of an
REO offer.
------------------------------------------------------------------------------------------------------------------------------------
Date REO offer received DATE(MM/DD/YYYY) Actual date of receipt of an REO
offer.
------------------------------------------------------------------------------------------------------------------------------------
Delinquency value NUMBER(10,2) Value obtained typically from a BPO
prior to foreclosure referral not
related to loss mitigation
activity.
------------------------------------------------------------------------------------------------------------------------------------
Delinquency value source VARCHAR2(15) BPO= Broker's Price Opinion Appraisal=Appraisal Name of vendor or management
company that provided the
delinquency valuation amount.
------------------------------------------------------------------------------------------------------------------------------------
Delinquency value date DATE(MM/DD/YYYY) Date that the delinquency valuation
amount was completed by vendor or
property management company.
------------------------------------------------------------------------------------------------------------------------------------
Delinquency flag VARCHAR2(2) Y= 90+ delinq. Not in FC, Bky or Loss mit Servicer defined indicator that
N=Less than 90 days delinquent identifies that the loan is
delinquent but is not involved in
loss mitigation, foreclosure,
bankruptcy or REO.
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure flag VARCHAR2(2) Y=Active foreclosure N=No active foreclosure Servicer defined indicator that
identifies that the loan is
involved in foreclosure
proceedings.
------------------------------------------------------------------------------------------------------------------------------------
Corporate expense balance NUMBER(10,2) Total of all cumulative expenses
advanced by the servicer for
non-escrow expenses such as but not
limited to: FC fees and costs,
bankruptcy fees and costs, property
preservation and property
inspections.
------------------------------------------------------------------------------------------------------------------------------------
D-2-2
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure attorney DATE(MM/DD/YYYY) Actual date that the loan was
referral date referred to local counsel to begin
foreclosure proceedings.
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure valuation NUMBER(15,2) Value obtained during the
amount foreclosure process. Usually as a
result of a BPO and typically used
to calculate the bid.
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure valuation date DATE(MM/DD/YYYY) Date that foreclosure valuation
amount was completed by vendor or
property management company.
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure valuation VARCHAR2(80) BPO= Broker's Price Opinion Appraisal=Appraisal Name of vendor or management
source company that provided the
foreclosure valuation amount.
------------------------------------------------------------------------------------------------------------------------------------
FHA 27011A transmitted DATE(MM/DD/YYYY) Actual date that the FHA 27011A
date claim was submitted to HUD.
------------------------------------------------------------------------------------------------------------------------------------
FHA 27011 B transmitted DATE(MM/DD/YYYY) Actual date that the FHA 27011B
date claim was submitted to HUD.
------------------------------------------------------------------------------------------------------------------------------------
VA LGC/ FHA Case number VARCHAR2(15) Number that is assigned
individually to the loan by either
HUD or VA at the time of
origination. The number is located
on the Loan Guarantee Certificate
(LGC) or the Mortgage Insurance
Certificate (MIC).
------------------------------------------------------------------------------------------------------------------------------------
FHA Part A funds received DATE(MM/DD/YYYY) Actual date that funds were
date received from HUD as a result of
transmitting the 27011A claim.
------------------------------------------------------------------------------------------------------------------------------------
Foreclosure actual sale DATE(MM/DD/YYYY) Actual date that the foreclosure
date sale was held.
------------------------------------------------------------------------------------------------------------------------------------
Servicer loan number VARCHAR2(15) Individual number that uniquely
identifies loan as defined by
servicer.
------------------------------------------------------------------------------------------------------------------------------------
Loan type VARCHAR2(2) 1=FHA Residential 2=VA Residential Type of loan being serviced
3=Conventional w/o PMI 4=Commercial generally defined by the existence
5=FHA Project 6=Conventional w/PMI of certain types of insurance. (ie:
7=HUD 235/265 8=Daily Simple Interest Loan FHA, VA, conventional insured,
9=Farm Loan U=Unknown conventional uninsured, SBA, etc.)
S=Sub prime
------------------------------------------------------------------------------------------------------------------------------------
Loss mit approval date DATE(MM/DD/YYYY) The date determined that the
servicer and mortgagor agree to
pursue a defined loss mitigation
alternative.
------------------------------------------------------------------------------------------------------------------------------------
D-2-3
------------------------------------------------------------------------------------------------------------------------------------
Loss mit flag VARCHAR2(2) Y= Active loss mitigation N=No active loss mitigation Servicer defined indicator that
identifies that the loan is
involved in completing a loss
mitigation alternative.
------------------------------------------------------------------------------------------------------------------------------------
Loss mit removal date DATE(MM/DD/YYYY) The date that the mortgagor is
denied loss mitigation alternatives
or the date that the loss
mitigation alternative is completed
resulting in a current or
liquidated loan.
------------------------------------------------------------------------------------------------------------------------------------
Loss mit type VARCHAR2(2) L= Loss Mitigation LT=Litigation pending The defined loss mitigation
NP=Pending non-performing sale CH= Charge off alternative identified on the loss
DI= Deed in lieu FB= Forbearance plan mit approval date.
MO=Modification PC=Partial claim
SH=Short sale VA=VA refunding
------------------------------------------------------------------------------------------------------------------------------------
Loss mit value NUMBER(10,2) Value obtained typically from a BPO
prior to foreclosure sale intended
to aid in the completion of loss
mitigation activity.
------------------------------------------------------------------------------------------------------------------------------------
Loss mit value date DATE(MM/DD/YYYY) Name of vendor or management
company that provided the loss
mitigation valuation amount.
------------------------------------------------------------------------------------------------------------------------------------
Loss mit value source VARCHAR2(15) BPO= Broker's Price Opinion Appraisal=Appraisal Date that the lost mitigation
valuation amount was completed by
vendor or property management
company.
------------------------------------------------------------------------------------------------------------------------------------
MI certificate number VARCHAR2(15) A number that is assigned
individually to the loan by the PMI
company at the time of origination.
Similar to the VA LGC/FHA Case
Number in purpose.
------------------------------------------------------------------------------------------------------------------------------------
LPMI Cost NUMBER(7,7) The current premium paid to the PMI
company for Lender Paid Mortgage
Insurance.
------------------------------------------------------------------------------------------------------------------------------------
Occupancy status VARCHAR2(1) O=Owner occupied T=Tenant occupied The most recent status of the
U=Unknown V=Vacant property regarding who if anyone is
occupying the property. Typically a
result of a routine property
inspection.
------------------------------------------------------------------------------------------------------------------------------------
First Vacancy date/ DATE(MM/DD/YYYY) The date that the most recent
Occupancy status date occupancy status was determined.
Typically the date of the most
recent property inspection.
------------------------------------------------------------------------------------------------------------------------------------
Original loan amount NUMBER(10,2) Amount of the contractual
obligations (ie: note and
mortgage/deed of trust).
------------------------------------------------------------------------------------------------------------------------------------
D-2-4
------------------------------------------------------------------------------------------------------------------------------------
Original value amount NUMBER(10,2) Appraised value of property as of
origination typically determined
through the appraisal process.
------------------------------------------------------------------------------------------------------------------------------------
Origination date DATE(MM/DD/YYYY) Date that the contractual
obligations (ie: note and
mortgage/deed of trust) of the
mortgagor was executed.
------------------------------------------------------------------------------------------------------------------------------------
FHA Part B funds received DATE(MM/DD/YYYY) Actual date that funds were
date received from HUD as a result of
transmitting the 27011B claim.
------------------------------------------------------------------------------------------------------------------------------------
Post petition due date DATE(MM/DD/YYYY) The post petition due date of a
loan involved in a chapter 13
bankruptcy.
------------------------------------------------------------------------------------------------------------------------------------
Property condition VARCHAR2(2) 1= Excellent 2=Good Physical condition of the property
3=Average 4=Fair as most recently reported to the
5=Poor 6=Very poor servicer by vendor or property
management company.
------------------------------------------------------------------------------------------------------------------------------------
Property type VARCHAR2(2) 1=Single family 2=Town house Type of property secured by
3=Condo 4=Multifamily 5=Other mortgage such as: single family,
6=Prefabricated B=Commercial C=Land only 2-4 unit, etc.
7=Mobile home U=Unknown D=Farm
A=Church P=PUD R=Row house
O=Co-op M=Manufactured housing 24= 2-4 family
CT=Condotel MU=Mixed use
------------------------------------------------------------------------------------------------------------------------------------
Reason for default VARCHAR2(3)
001=Death of principal mtgr 02=Illness of principal mtgr Cause of delinquency as identified
003=Illness of mtgr's family member by mortgagor.
004=Death of mtgr's family member 005=Marital difficulties
006=Curtailment of income 007=Excessive obligations
008=Abandonment of property 009=Distant employee transfer
011=Property problem 012=Inability to sell property
013=Inability to rent property 014=Military service
015=Other 016=Unemployment
017=Business failure 019=Casualty loss
022=Energy-Environment costs 023= Servicing problems
026= Payment adjustment 027=Payment dispute
029=Transfer ownership pending 030=Fraud
031=Unable to contact borrower INC=Incarceration
------------------------------------------------------------------------------------------------------------------------------------
REO repaired value NUMBER(10,2) The projected value of the property
that is adjusted from the "as is"
value assuming necessary repairs
have been made to the property as
determined by the vendor/property
management company.
------------------------------------------------------------------------------------------------------------------------------------
D-2-5
------------------------------------------------------------------------------------------------------------------------------------
REO list price adjustment NUMBER(15,2) The most recent listing/pricing
amount amount as updated by the servicer
for REO properties.
------------------------------------------------------------------------------------------------------------------------------------
REO list price adjustment DATE(MM/DD/YYYY) The most recent date that the
date servicer advised the agent to make
an adjustment to the REO listing
price.
------------------------------------------------------------------------------------------------------------------------------------
REO value (as is) NUMBER(10,2) The value of the property without
making any repairs as determined by
the vendor/property management
company.
------------------------------------------------------------------------------------------------------------------------------------
REO actual closing date DATE(MM/DD/YYYY) The actual date that the sale of
the REO property closed escrow.
------------------------------------------------------------------------------------------------------------------------------------
REO flag VARCHAR2(7) Y=Active REO N=No active REO Servicer defined indicator that
identifies that the property is now
Real Estate Owned.
------------------------------------------------------------------------------------------------------------------------------------
REO original list date DATE(MM/DD/YYYY) The initial/first date that the
property was listed with an agent
as an REO.
------------------------------------------------------------------------------------------------------------------------------------
REO original list price NUMBER(15,2) The initial/first price that was
used to list the property with an
agent as an REO.
------------------------------------------------------------------------------------------------------------------------------------
REO net sales proceeds NUMBER(10,2) The actual REO sales price less
closing costs paid. The net sales
proceeds are identified within the
HUD1 settlement statement.
------------------------------------------------------------------------------------------------------------------------------------
REO sales price NUMBER(10,2) Actual sales price agreed upon by
both the purchaser and servicer as
documented on the HUD1 settlement
statement.
------------------------------------------------------------------------------------------------------------------------------------
REO scheduled close date DATE(MM/DD/YYYY) The date that the sale of the REO
property is scheduled to close
escrow.
------------------------------------------------------------------------------------------------------------------------------------
REO value date DATE(MM/DD/YYYY) Date that the vendor or management
company completed the valuation of
the property resulting in the REO
value (as is).
------------------------------------------------------------------------------------------------------------------------------------
REO value source VARCHAR2(15) BPO= Broker's Price Opinion Appraisal=Appraisal Name of vendor or management
company that provided the REO value
(as is).
------------------------------------------------------------------------------------------------------------------------------------
Repay first due date DATE(MM/DD/YYYY) The due date of the first scheduled
payment due under a forbearance or
repayment plan agreed to by both
the mortgagor and servicer.
------------------------------------------------------------------------------------------------------------------------------------
D-2-6
------------------------------------------------------------------------------------------------------------------------------------
Repay next due date DATE(MM/DD/YYYY) The due date of the next
outstanding payment due under a
forbearance or repayment plan
agreed to by both the mortgagor and
servicer.
------------------------------------------------------------------------------------------------------------------------------------
Repay plan DATE(MM/DD/YYYY) The servicer defined date upon
broken/reinstated/closed which the servicer considers that
date the plan is no longer in effect as
a result of plan completion or
mortgagor's failure to remit
payments as scheduled.
------------------------------------------------------------------------------------------------------------------------------------
Repay plan created date DATE(MM/DD/YYYY) The date that both the mortgagor
and servicer agree to the terms of
a forbearance or repayment plan.
------------------------------------------------------------------------------------------------------------------------------------
SBO loan number NUMBER(9) Individual number that uniquely
identifies loan as defined by
Xxxxxx Xxxxxx Xxxxxxxxx.
------------------------------------------------------------------------------------------------------------------------------------
Escrow balance/advance NUMBER(10,2) The positive or negative account
balance balance that is dedicated to
payment of hazard insurance,
property taxes, MI, etc. (escrow
items only)
------------------------------------------------------------------------------------------------------------------------------------
Title approval letter DATE(MM/DD/YYYY) The actual date that the title
received date approval was received as set forth
in the HUD title approval letter.
------------------------------------------------------------------------------------------------------------------------------------
Title package HUD/VA date DATE(MM/DD/YYYY) The actual date that the title
package was submitted to either HUD
or VA.
------------------------------------------------------------------------------------------------------------------------------------
VA claim funds received DATE(MM/DD/YYYY) The actual date that funds were
date received by the servicer from the
VA for the expense claim submitted
by the servicer.
------------------------------------------------------------------------------------------------------------------------------------
VA claim submitted date DATE(MM/DD/YYYY) The actual date that the expense
claim was submitted by the servicer
to the VA.
------------------------------------------------------------------------------------------------------------------------------------
VA first funds received NUMBER(15,2) The amount of funds received by the
amount servicer from VA as a result of the
specified bid.
------------------------------------------------------------------------------------------------------------------------------------
VA first funds received DATE(MM/DD/YYYY) The date that the funds from the
date specified bid were received by the
servicer from the VA.
------------------------------------------------------------------------------------------------------------------------------------
VA XXX submitted date DATE(MM/DD/YYYY) Actual date that the Notice of
Election to Convey was submitted to
the VA.
------------------------------------------------------------------------------------------------------------------------------------
Zip Code VARCHAR2(5) US postal zip code that corresponds
to property location.
------------------------------------------------------------------------------------------------------------------------------------
D-2-7
------------------------------------------------------------------------------------------------------------------------------------
FNMA Delinquency status VARCHAR2(3) 09=Forbearance 17=Preforeclosure sale The code that is
code 24=Drug seizure 26=Refinance 27=Assumption electronically reported to
28=Modification 29=Charge-off 30=Third-party sale FNMA by the servicer that
31=Probate 32=Military indulgence 43=Foreclosure reflects the current
44=Deed-in-lieu 49=Assignment 61=Second lien considerations defaulted status of a loan.
62=VA no-bid 63=VA Refund 64=VA Buydown (ie: 65, 67, 43 or 44)
65=Ch. 7 bankruptcy 66=Ch. 11 bankruptcy 67=Ch. 13 bankruptcy
------------------------------------------------------------------------------------------------------------------------------------
FNMA delinquency reason VARCHAR2(3) 001=Death of principal mtgr 002=Illness of principal mtgr The code that is
code 003=Illness of mtgr's family member 004=Death of mtgr's family member electronically reported to
005=Marital difficulties 006=Curtailment of income FNMA by the servicer that
007=Excessive obligations 008=Abandonment of property describes the circumstance
009=Distant employee transfer 011=Property problem that appears to be the
012=Inability to sell property 013=Inability to rent property primary contributing factor
014=Military service 015=Other to the delinquency.
016=Unemployment 017=Business failure
019=Casualty loss 022=Energy-Environment costs
023= Servicing problems 026= Payment adjustment
027=Payment dispute 029=Transfer ownership pending
030=Fraud 031=Unable to contact borrower
INC=Incarceration
------------------------------------------------------------------------------------------------------------------------------------
Suspense balance NUMBER(10,2) Money submitted to the
servicer, credited to the
mortgagor's account but not
allocated to principal,
interest, escrow, etc.
------------------------------------------------------------------------------------------------------------------------------------
Restricted escrow balance NUMBER(10,2) Money held in escrow by the
mortgage company through
completion of repairs to
property.
------------------------------------------------------------------------------------------------------------------------------------
Investor number NUMBER (10,2) Unique number assigned to a
group of loans in the
servicing system.
------------------------------------------------------------------------------------------------------------------------------------
D-2-8
