EXECUTION VERSION
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
April 28, 2006, is among Bank of America, National Association, a national
banking association ("Assignor"), Banc of America Funding Corporation, a
Delaware corporation ("BAFC"), U.S. Bank National Association, a national
banking association, as trustee of the Banc of America Funding 2006-D Trust
("Assignee"), Xxxxx Fargo Bank, N.A., a national banking association ("Xxxxx
Fargo Bank"), as master servicer of the Banc of America Funding 2006-D Trust,
Countrywide Home Loans, Inc. (the "Company"), and Countrywide Home Loans
Servicing LP ("Countrywide").
WHEREAS, pursuant to (i) that certain Master Mortgage Loan Purchase and
Servicing Agreement, dated as of April 1, 2003, by and between Assignor (as
successor in interest to Banc of America Mortgage Capital Corporation
("BAMCC")), as purchaser, and the Company, as seller, (ii) that certain
Amendment No. 1, dated as of July 1, 2003, by and among BAMCC, the Company and
the Assignor, (iii) that certain Amendment No. 2, dated as of September 1, 2004,
by and among BAMCC, the Company and the Assignor, (iv) that certain Amendment
Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement (the
"Amendment Reg AB"), dated as of January 1, 2006, by and between the Company and
the Assignor, (v) that certain Purchase Confirmation, dated as of October 26,
2004, by and between the Company and the Assignor, (vi) that certain Purchase
Confirmation, dated as of October 25, 2005, by and between the Company and the
Assignor, (vii) that certain Purchase Confirmation, dated as of November 16,
2005, by and between the Company and the Assignor, (viii) that certain Purchase
Confirmation, dated as of November 22, 2005, by and between the Company and the
Assignor, (ix) that certain Purchase Confirmation, dated as of December 29,
2005, by and between the Company and the Assignor and (x) that certain Purchase
Confirmation, dated as of March 30, 2006, by and between the Company and the
Assignor (collectively, the "Purchase and Servicing Agreement"), each of which
is attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as
defined herein) from the Company;
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee;
WHEREAS, on the date hereof, the Company is transferring all of its right,
title and interest in and to the servicing of the Mortgage Loans to Countrywide;
and
WHEREAS, on the date hereof, Xxxxx Fargo Bank, as master servicer (in such
capacity, the "Master Servicer"), is entering into a Pooling and Servicing
Agreement, dated the date hereof (the "Pooling Agreement), among BAFC, the
Master Servicer, Xxxxx Fargo Bank, as securities administrator (the "Securities
Administrator"), and the
Assignee, pursuant to which the Master Servicer will supervise, monitor and
oversee the servicing of the Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to Assignee, all of the right, title and
interest of the Assignor in, to and under the Purchase and Servicing Agreement,
and the mortgage loans delivered under such agreement by Countrywide to the
Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans").
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the Purchase and Servicing Agreement other than the Mortgage Loans.
2. The Company hereby grants, transfers and assigns to Countrywide all of
the right, title and interest of the Company in, to and under the servicing
rights under the Purchase and Servicing Agreement as it relates to the mortgage
loans and only the mortgage loans delivered under such agreement by Countrywide
to the Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans").
The parties hereto acknowledge that Countrywide shall service the Mortgage Loans
on behalf of the Company in accordance with the Purchase and Servicing Agreement
from the date hereof. Countrywide hereby assumes all of the Company's
obligations and duties under the Purchase and Servicing Agreement as it relates
to the Mortgage Loans from and after the date hereof. The Company specifically
reserves and does not assign to Countrywide any right, title and interest in, to
or under (i) the Purchase and Servicing Agreement as it relates to any mortgage
loans other than the Mortgage Loans or (ii) any mortgage loans subject to the
Purchase and Servicing Agreement other than the Mortgage Loans. Notwithstanding
the foregoing, it is understood that the Company is not released from liability
to the Assignor, or its permitted successors and assigns, for any breaches of
any representations, warranties or covenants made by the Company in the Purchase
and Servicing Agreement prior to the date hereof.
3. The Assignor warrants and represents to, and covenants with, BAFC and
the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the
full right to transfer the Mortgage Loans free from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of,
any offsets, counterclaims or other defenses available to Countrywide with
respect to the Purchase and Servicing Agreement or the Mortgage Loans;
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c. The Assignor has not waived or agreed to any waiver under, or
agreed to any amendment or other modification of, the Purchase and
Servicing Agreement or the Mortgage Loans, including without limitation the
transfer of the servicing obligations under the Purchase and Servicing
Agreement. The Assignor has no knowledge of, and has not received notice
of, any waivers under or amendments or other modifications of, or
assignments of rights or obligations under, the Purchase and Servicing
Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security to, or
solicited any offer to buy or accept a transfer, pledge or other
disposition of the Mortgage Loans, any interest in the Mortgage Loans or
any other similar security from, or otherwise approached or negotiated with
respect to the Mortgage Loans, any interest in the Mortgage Loans or any
other similar security with, any person in any manner, or made any general
solicitation by means of general advertising or in any other manner, or
taken any other action which would constitute a distribution of the
Mortgage Loans under the Securities Act of 1933, as amended (the
"Securities Act"), or which would render the disposition of the Mortgage
Loans a violation of Section 5 of the Securities Act or require
registration pursuant thereto.
4. From and after the date hereof, Countrywide shall (i) note the transfer
of the Mortgage Loans to the Assignee in its books and records, (ii) recognize
the Assignee as the owner of the Mortgage Loans and (iii) notwithstanding
anything to the contrary contained in Section 8.07 of the Purchase and Servicing
Agreement, shall service the Mortgage Loans pursuant to the Purchase and
Servicing Agreement, as modified by Section 10 hereof, for the benefit of the
Assignee.
5. Countrywide hereby acknowledges that Xxxxx Fargo Bank, N.A. has been
appointed as the Master Servicer of the Mortgage Loans pursuant to the Pooling
Agreement, and therefore has the right to enforce all obligations of Countrywide
as they relate to the Mortgage Loans, under the Purchase and Servicing
Agreement, including, without limitation, the right to exercise any and all
rights of the Assignor (but not the obligations) under the Purchase and
Servicing Agreement to monitor and enforce the obligations of Countrywide
thereunder, the right to terminate Countrywide under the Purchase and Servicing
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by Countrywide under the Purchase
and Servicing Agreement, the right to receive all monthly reports and other data
required to be delivered by Countrywide under the Purchase and Servicing
Agreement, the right to examine the books and records of Countrywide or the
Company (as such books and records relate to the prior period of servicing of
the Mortgage Loans by the Company), and the right to exercise certain rights of
consent and approval relating to actions taken by Countrywide. Notwithstanding
the foregoing, it is understood that Countrywide shall not be obligated to
defend and indemnify and hold harmless the
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Master Servicer, the Assignor, the Assignee, the Trust, and BAFC against any
losses, damages, penalties, fines, forfeitures, judgments and any related costs
including, without limitation, reasonable and necessary legal fees, resulting
from (i) actions or inactions of Countrywide which were taken or omitted upon
the instruction or direction of the Master Servicer or (ii) the failure of the
Assignee or the Master Servicer acting in its capacity as agent for the Trust to
perform the obligations of the "Purchaser" under the Purchase and Servicing
Agreement. Wire remittances shall be sent to: XXXXX FARGO BANK, N.A., ABA#
000000000, FOR CREDIT TO: SAS CLEARING, ACCT: 0000000000, FFC TO: BAFC 2006-D #
50911100.
6. Countrywide hereby represents and warrants to each of the other parties
hereto (i) that the representations and warranties in Section 3.01 of the
Purchase and Servicing Agreement are true and correct in all material respects
as of the date hereof with the same force and effect as though expressly made by
Countrywide at and/or as of the date hereof, (ii) the Mortgage Loans have been
serviced in accordance with the terms of the Purchase and Servicing Agreement,
(iii) that the Company has taken no action nor omitted to take any required
action the omission of which would have the effect of impairing any mortgage
insurance or guarantee on the Mortgage Loans and (iv) that any information
provided by the Company on or before the date hereof to any of the parties
hereto is true and correct.
7. Countrywide hereby agrees to cooperate with BAFC, the Master Servicer
and the Assignee to enable BAFC, the Master Servicer and the Securities
Administrator to fully comply with all Securities and Exchange Commission
("SEC") disclosure and reporting requirements in effect from time to time with
respect to the trust created by the Pooling Agreement (which shall be named
"Banc of America Funding 2006-D Trust") (the "Trust") and any securities
representing ownership interests in or backed by assets of the Trust, including
without limitation, the SEC's recently published rules regarding asset-backed
securities (Release Nos. 33-8518; 34-50905; File No. S7-21-0433-8419) as set
forth in the Amendment Reg AB.
8. Countrywide hereby agrees that, in connection with each Mortgage Loan of
which the related Mortgage has been recorded in the name of MERS or its
designee, it shall take all actions as are necessary to cause the Assignee, as
trustee of the Trust pursuant to the Pooling Agreement, to be shown as the owner
of such Mortgage Loan on the records of MERS for purposes of the system of
recording transfers of beneficial ownership of mortgages maintained by MERS.
9. In accordance with Sections 2.05 and 7.01 of the Purchase and Servicing
Agreement, the Assignor hereby instructs Countrywide, and Countrywide hereby
agrees, to release from its custody and deliver the contents of the Collateral
File (as defined in the Purchase and Servicing Agreement) for each Mortgage Loan
to U.S. Bank National Association, in its capacity as custodian under the
Pooling Agreement on or before the closing date of the related Pass-Through
Transfer (as defined in the Purchase and Servicing Agreement).
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10. Countrywide, BAFC and Assignee hereby agree to the following
modifications to the Purchase and Servicing Agreement solely with respect to the
Mortgage Loans:
a. Article I. The definition of "Qualified Substitute Mortgage Loan"
is hereby replaced in its entirety with the following:
"A mortgage loan that must, on the date of such substitution, (i) have an
unpaid principal balance, after deduction of all scheduled payments due in
the month of substitution (or if more than one (1) mortgage loan is being
substituted, an aggregate principal balance), not in excess of the unpaid
principal balance of the repurchased Mortgage Loan (the amount of such
shortfall will be deposited in the Custodial Account by Countrywide in the
month of substitution); (ii) have a Mortgage Interest Rate not less than,
and not more than two percent (2%) greater than, the Mortgage Interest Rate
of the repurchased Mortgage Loan; (iii) have a remaining term to maturity
not greater than and not more than one year less than that of the
repurchased Mortgage Loan; (iv) comply with each representation and
warranty set forth in Sections 3.01 and 3.02; (v) be of the same type as
the repurchased Mortgage Loan; (vi) have a Gross Margin not less than that
of the repurchased Mortgage Loan; (vii) have the same Index as the
repurchased Mortgage Loan; (viii) have a FICO score not less than that of
the repurchased Mortgage Loan, (ix) have an LTV not greater than that of
the repurchased Mortgage Loan; (x) have a credit grade not lower in quality
than that of the repurchased Mortgage Loan and (xi) have the same lien
status as the repurchased Mortgage Loan."
b. Section 5.01. The following is added as the second paragraph of
Section 5.01:
"With respect to any remittance received by the Purchaser or any master
servicer after the Business Day on which such payment was due, Countrywide
shall pay to the Purchaser or any master servicer interest on any such late
payment at an annual rate equal to the rate of interest as is publicly
announced from time to time at its principal office by JPMorgan Chase Bank,
New York, New York, as its prime lending rate, adjusted as of the date of
each change, plus one percentage point, but in no event greater than the
maximum amount permitted by applicable law. Such interest shall be paid by
Countrywide to the Purchaser or any master servicer on the date such late
payment is made and shall cover the period commencing with the day such
remittance was due and ending with the Business Day on which such payment
is made, both inclusive. Such interest shall be remitted along with such
late payment. The payment by Countrywide of any such interest shall not be
deemed an extension of time for payment or a waiver of any Event of Default
by Countrywide."
c. Section 5.02. The first paragraph of Section 5.02 is hereby
modified to read as follows:
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"Not later than the fifth (5th) Business Day of each month, Countrywide
shall furnish to the Purchaser a delinquency report in the form set forth
in Exhibit H-1, a monthly remittance advice in the form set forth in
Exhibit H-2, and a realized loss report in the form set forth in Exhibit
H-3, each in a mutually agreeable electronic format, as to the remittance
on such Remittance Date and as to the period ending on the last day of the
month preceding such Remittance Date."
The exhibits referenced in this Section 10(c) are attached to this
Agreement on Exhibit B hereto.
Section 7.01. Section 7.01(a)(i) is hereby modified by deleting "three (3)
Business Days" and replacing it with "two (2) Business Days (but in no
event later than the 20th day of the month)".
11. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance Trust Services, BAFC 2006-D
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement is:
Bank of America, National Association
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
[Signatures Follow]
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IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and
Recognition Agreement to be executed by their duly authorized officers as of the
date first above written.
Bank of America, National
Association, Assignor
By: /s/ Xxxxx X. Good
------------------------------------
Name: Xxxxx X. Good
Title: Vice President
U.S. Bank National Association,
Assignee
By: /s/ Xxxxxxx X. Xxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
------------------------------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
Countrywide Home Loans, Inc.
By: /s/ Xxxxxx Xxxxxxxxx
------------------------------------
Name: Xxxxxx Xxxxxxxxx
Title: First Vice President
Countrywide Home Loans Servicing LP
By: Countrywide GP, Inc., its general
partner
By: /s/ Xxxxxx Xxxxxxxxx
--------------------------------
Name: Xxxxxx Xxxxxxxxx
Title: First Vice President
[BAFC 2006-D Countrywide Assignment, Assumption and Recognition Agreement]
Acknowledged and Agreed
as of the date first above written:
Xxxxx Fargo Bank, N.A., as Master Servicer
By: /s/ Xxxxx X Xxxxxx
-------------------------------------
Name: Xxxxx X. Xxxxxx
Title: Vice President
[BAFC 2006-D Countrywide Assignment, Assumption and Recognition Agreement]
EXHIBIT A
Schedule of Mortgage Loans
A-1
EXHIBIT B
EXHIBIT H-1 -- REPORTING DATA FOR DEFAULTED LOANS
Data must be submitted to Xxxxx Fargo Bank in an EXCEL spreadsheet format with
fixed field names and data type. The EXCEL spreadsheet should be used as a
template consistently every month when submitting data.
TABLE: DELINQUENCY
NAME TYPE SIZE
--------------------------------------------------------------------------------
SERVICER LOAN # NUMBER (DOUBLE) 8
INVESTOR LOAN # NUMBER (DOUBLE) 8
BORROWER NAME TEXT 20
ADDRESS TEXT 30
STATE TEXT 2
Due Date Date/Time 8
ACTION CODE TEXT 2
FC Received Date/Time 8
File Referred to Atty Date/Time 8
NOD Date/Time 8
Complaint Filed Date/Time 8
Sale Published Date/Time 8
Target Sale Date Date/Time 8
Actual Sale Date Date/Time 8
Loss Mit Approval Date Date/Time 8
Loss Mit Type Text 5
Loss Mit Estimated Completion Date Date/Time 8
Loss Mit Actual Completion Date Date/Time 8
Loss Mit Broken Plan Date Date/Time 8
BK Chapter Text 6
BK Filed Date Date/Time 8
Post Petition Due Date/Time 8
Motion for Relief Date/Time 8
Lift of Stay Date/Time 8
RFD Text 10
Occupant Code Text 10
Eviction Start Date Date/Time 8
Eviction Completed Date Date/Time 8
List Price Currency 8
List Date Date/Time 8
Accepted Offer Price Currency 8
Accepted Offer Date Date/Time 8
Estimated REO Closing Date Date/Time 8
Actual REO Sale Date Date/Time 8
o ITEMS IN BOLD ARE MANDATORY FIELDS. WE MUST RECEIVE INFORMATION IN THOSE
FIELDS EVERY MONTH IN ORDER FOR YOUR FILE TO BE ACCEPTED.
The Action Code Field should show the applicable numeric code to indicate that a
special action is being taken. The Action Codes are the following:
12-RELIEF PROVISIONS
15-BANKRUPTCY/LITIGATION
20-REFERRED FOR DEED-IN-LIEU
30-REFERRED FORE FORECLOSURE
00-XXXXXX
00-XXXXXXXXXX
00-XXX-XXXX FOR SALE
71-THIRD PARTY SALE/CONDEMNATION
72-REO-PENDING CONVEYANCE-POOL INSURANCE CLAIM FILED
Xxxxx Fargo Bank will accept alternative Action Codes to those above, provided
that the Codes are consistent with industry standards. If Action Codes other
than those above are used, the Servicer must supply Xxxxx Fargo Bank with a
description of each of the Action Codes prior to sending the file.
Description of Action Codes:
ACTION CODE 12 - To report a Mortgage Loan for which the Borrower has been
granted relief for curing a delinquency. The Action Date is the date the relief
is expected to end. For military indulgence, it will be three months after the
Borrower's discharge from military service.
ACTION CODE 15 - To report the Borrower's filing for bankruptcy or instituting
some other type of litigation that will prevent or delay liquidation of the
Mortgage Loan. The Action Date will be either the date that any repayment plan
(or forbearance) instituted by the bankruptcy court will expire or an additional
date by which the litigation should be resolved.
ACTION CODE 20 - To report that the Borrower has agreed to a deed-in-lieu or an
assignment of the property. The Action Date is the date the Servicer decided to
pursue a deed-in-lieu or the assignment.
ACTION CODE 30 - To report that the decision has been made to foreclose the
Mortgage Loan. The Action Date is the date the Servicer referred the case to the
foreclosure attorney.
ACTION CODE 60 - To report that a Mortgage Loan has been paid in full either at,
or prior to, maturity. The Action Date is the date the pay-off funds were
remitted to the Master Servicer.
ACTION CODE 65 - To report that the Servicer is repurchasing the Mortgage Loan.
The Action Date is the date the repurchase proceeds were remitted to the Master
Servicer.
ACTION CODE 70 - To report that a Mortgage Loan has been foreclosed or a
deed-in-lieu of foreclosure has been accepted, and the Servicer, on behalf of
the owner of the Mortgage Loan, has acquired the property and may dispose of it.
The Action Date is the date of the foreclosure sale or, for deeds-in-lieu, the
date the deed is recorded on behalf of the owner of the Mortgage Loan.
ACTION CODE 71 - To report that a Mortgage Loan has been foreclosed and a third
party acquired the property, or a total condemnation of the property has
occurred. The Action Date is the date of the foreclosure sale or the date the
condemnation award was received.
ACTION CODE 72 - To report that a Mortgage Loan has been foreclosed, or a
deed-in-lieu has been accepted, and the property may be conveyed to the mortgage
insurer and the pool insurance claim has been filed. The Action Date is the date
of the foreclosure sale, or, for deeds-in-lieu, the date of the deed for
conventional mortgages.
The Loss Mit Type field should show the approved Loss Mitigation arrangement.
The following are acceptable:
ASUM-APPROVED ASSUMPTION
BAP-BORROWER ASSISTANCE PROGRAM
CO-CHARGE OFF
DIL-DEED-IN-LIEU
FFA-FORMAL FORBEARANCE AGREEMENT
MOD-LOAN MODIFICATION
PRE-PRE-SALE
SS-SHORT SALE
MISC-ANYTHING ELSE APPROVED BY THE PMI OR POOL INSURER
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. The
acceptable codes are:
MORTGAGOR
TENANT
UNKNOWN
VACANT
EXHIBIT H-2: STANDARD FILE LAYOUT - SCHEDULED/SCHEDULED
COLUMN NAME DESCRIPTION DECIMAL FORMAT COMMENT MAX SIZE
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SER_INVESTOR_NBR A value assigned by the Servicer to define Text up to 10 digits 20
a group of loans.
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LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10
by the investor.
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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.
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BORROWER_NAME The borrower name as received in the file. Maximum length of 30 (Last, First) 30
It is not separated by first and last
name.
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SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs ($) 11
interest payment that a borrower is
expected to pay, P&I constant.
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NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
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NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the
Servicer.
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SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
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SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
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NEW_PAY_AMT The new loan payment amount as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
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NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
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ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6
calculate a forecasted rate.
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ACTL_BEG_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the beginning of the processing cycle.
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ACTL_END_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the end of the processing cycle.
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BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10
that the borrower's next payment is due to
the Servicer, as reported by Servicer.
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SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
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SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
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CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
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SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
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SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
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CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
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SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs ($) 11
applied.
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SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
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CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
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PIF_AMT The loan "paid in full" amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
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PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
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ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2
indicate the default/delinquent status of 30=Foreclosure, , 60=PIF,
a particular loan. 63=Substitution, 65=Repurchase,70=REO
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INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
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SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs ($) 11
if applicable.
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NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
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LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs ($) 11
loss, if applicable.
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SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount 2 No commas(,) or dollar signs ($) 11
due at the beginning of the cycle date to
be passed through to investors.
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SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs ($) 11
investors at the end of a processing
cycle.
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SCHED_PRIN_AMT The scheduled principal amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer for the current cycle --
only applicable for Scheduled/Scheduled
Loans.
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SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs ($) 11
the service fee amount for the current
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
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ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs ($) 11
the Servicer for the current reporting
cycle -- only applicable for Actual/Actual
Loans.
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ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs ($) 11
service fee amount for the current
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
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PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs ($) 11
borrower prepays on his loan as reported
by the Servicer.
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PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or dollar signs ($) 11
waived by the servicer.
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MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
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MOD_TYPE The Modification Type. Varchar - value can be alpha or numeric 30
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DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11
interest advances made by Servicer.
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EXHIBIT H-3: REALIZED LOSS CALCULATION INFORMATION--XXXXX FARGO
BANK, N.A., FORM 332
Calculation of Realized Loss
Purpose
To provide the Servicer with a form for the calculation of any Realized Loss (or
gain) as a result of a Mortgage Loan having been foreclosed and Liquidated.
Distribution
The Servicer will prepare the form in duplicate and send the original together
with evidence of conveyance of title and appropriate supporting documentation to
the Master Servicer with the Monthly Accounting Reports which supports the
Mortgage Loan's removal from the Mortgage Loan Activity Report. The Servicer
will retain the duplicate for its own records.
Due Date
With respect to any liquidated Mortgage Loan, the form will be submitted to the
Master Servicer no later than the date on which statements are due to the Master
Servicer under Section 4.02 of this Agreement (the "Statement Date") in the
month following receipt of final liquidation proceeds and supporting
documentation relating to such liquidated Mortgage Loan; provided, that if such
Statement Date is not at least 30 days after receipt of final liquidation
proceeds and supporting documentation relating to such liquidated Mortgage Loan,
then the form will be submitted on the first Statement Date occurring after the
30th day following receipt of final liquidation proceeds and supporting
documentation.
Preparation Instructions
The numbers on the form correspond with the numbers listed below.
1. The actual Unpaid Principal Balance of the Mortgage Loan.
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.
3-7. Complete as necessary. All line entries must be supported by copies of
appropriate statements, vouchers, receipts, canceled checks, etc., to
document the expense. Entries not properly documented will not be
reimbursed to the Servicer.
8. Accrued Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage Loan as calculated on a monthly basis.
10. The total of lines 1 through 9.
Credits
11-17. Complete as necessary. All line entries must be supported by copies of
the appropriate claims forms, statements, payment checks, etc. to
document the credit. If the Mortgage
Loan is subject to a Bankruptcy Deficiency, the difference between the
Unpaid Principal Balance of the Note prior to the Bankruptcy Deficiency
and the Unpaid Principal Balance as reduced by the Bankruptcy Deficiency
should be input on line 16.
18. The total of lines 11 through 17.
Total Realized Loss (or Amount of Any Gain)
19. The total derived from subtracting line 18 from 10. If the amount
represents a realized gain, show the amount in parenthesis (___).
XXXXX FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS
XXXXX FARGO BANK, N.A. Trust:___________________________
Prepared by:__________________ Date:_______________
Phone:______________________
Servicer Loan No. Servicer Name Servicer Address
XXXXX FARGO BANK, N.A.
Loan No._____________________________
Borrower's Name:________________________________________________________
Property
Address:________________________________________________________________
LIQUIDATION AND ACQUISITION EXPENSES:
Actual Unpaid Principal Balance of Mortgage Loan $_______________(1)
Interest accrued at Net Rate ________________(2)
Attorney's Fees ________________(3)
Taxes ________________(4)
Property Maintenance ________________(5)
MI/Hazard Insurance Premiums ________________(6)
Hazard Loss Expenses ________________(7)
Accrued Servicing Fees ________________(8)
Other (itemize) ________________(9)
$__________________
TOTAL EXPENSES $______________(10)
CREDITS:
Escrow Balance $______________(11)
HIP Refund _______________(12)
Rental Receipts _______________(13)
Hazard Loss Proceeds _______________(14)
Primary Mortgage Insurance Proceeds _______________(15)
Proceeds from Sale of Acquired Property _______________(16)
Other (itemize) _______________(17)
__________________
__________________
TOTAL CREDITS $______________(18)
TOTAL REALIZED LOSS (OR AMOUNT OF GAIN) $________________
APPENDIX I
Underlying Agreements
[See Exhibits 10.2(A)-(D)]
