ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Exhibit
99.8a
EXECUTION
VERSION
THIS
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this “Assignment”),
dated as of April 1, 2007, is entered into among Xxxxxx Xxxxxxx Capital I Inc.,
a Delaware corporation (the “Depositor”), Xxxxxx Xxxxxxx Mortgage Capital
Inc. (“MSMCI”), GreenPoint Mortgage Funding, Inc. as seller (in such
capacity, the “Seller”) and servicer (in such capacity, the
“Servicer”), and acknowledged by LaSalle Bank National Association, as
trustee (the “Trustee”) of Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-7AX
(the “Trust”), and Xxxxx Fargo Bank, National Association, as master
servicer (or any successor master servicer, the “Master
Servicer”).
RECITALS
WHEREAS
MSMCI, the Seller and the
Servicer have entered into a certain First Amended and Restated Mortgage Loan
Sale And Servicing Agreement, dated as of March 15, 2005 (the “March Purchase
Agreement), a certain Fourth Amended and Restated Mortgage Loan Sale
And Servicing Agreement, dated as of December 1, 2005 (the "December Purchase
Agreement") and a certain Fifth Amended and Restated Mortgage Loan Sale
And Servicing Agreement, dated as of June 1, 2006, (the “Agreement,”
and together with the March Purchase Agreement, the December Purchase
Agreement and as further amended or modified to the date hereof, the
“Agreements”), pursuant to which MSMCI has acquired certain Mortgage
Loans pursuant to the terms of the Agreements and the Servicer has agreed to
service such Mortgage Loans; and, in connection with the transfer of the
Mortgage Loans hereunder, the Seller and Servicer agree that, from and after
the
date hereof, each Mortgage Loan transferred hereunder will be subject to, and
serviced under, the Agreement;
WHEREAS
the Depositor has agreed, on the terms and conditions contained herein, to
purchase from MSMCI certain of the Mortgage Loans (the “Specified Mortgage
Loans”) which are subject to the provisions of the Agreement and are listed
on the mortgage loan schedule attached as Exhibit I hereto (the “Specified
Mortgage Loan Schedule”); and
WHEREAS
the Trustee, on behalf of the Trust, has agreed, on the terms and conditions
contained herein, to purchase from the Depositor the Specified Mortgage
Loans;
NOW,
THEREFORE, in consideration of the mutual promises contained herein and other
good and valuable consideration (the receipt and sufficiency of which are hereby
acknowledged), the parties agree as follows:
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1.
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Assignment
and Assumption
|
(a) On
and of the date hereof, MSMCI hereby sells, assigns and transfers to the
Depositor all of its right, title and interest in the Specified Mortgage Loans
and all rights and obligations related thereto as provided under the Agreement
to the extent relating to the Specified Mortgage Loans, the Depositor hereby
accepts such assignment from MSMCI (the “First Assignment and
Assumption”), and the Seller hereby acknowledges the First Assignment and
Assumption.
MSMCI
specifically reserves and does
not assign to the Depositor hereunder any and all right, title and interest
in,
to and under and all obligations of MSMCI with respect to any Mortgage Loans
subject to the Agreement which are not the Specified Mortgage
Loans.
(b) On
and of the date hereof, immediately after giving effect to the First Assignment
and Assumption, the Depositor hereby sells, assigns and transfers to the
Trustee, on behalf of the Trust, all of its right, title and interest in the
Specified Mortgage Loans and all rights and obligations related thereto as
provided under the Agreement to the extent relating to the Specified Mortgage
Loans, and the Trustee, on behalf of the Trust, hereby accepts such assignment
from the Depositor (the “Second Assignment and Assumption”), and the
Seller hereby acknowledges the Second Assignment and Assumption.
(c) On
and as of the date hereof, MSMCI represents and warrants to the Depositor and
the Trustee that MSMCI has not taken any action that would serve to impair
or
encumber the respective ownership interests of the Depositor and the Trustee
in
the Specified Mortgage Loans since the date of MSMCI’s acquisition of the
Specified Mortgage Loans.
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2.
|
Recognition
of Trustee
|
(a) From
and after the date hereof, both MSMCI and the Seller shall note the transfer
of
the Specified Mortgage Loans to the Trustee, in their respective books and
records and shall recognize the Trustee, on behalf of the Trust, as of the
date
hereof, as the owner of the Specified Mortgage Loans, and Servicer shall service
the Specified Mortgage Loans for the benefit of the Trust pursuant to the
Agreement, the terms of which are incorporated herein by reference. It is the
intention of the Seller, the Servicer, the Depositor, the Trustee and MSMCI
that
this Assignment shall be binding upon and inure to the benefit of the Depositor,
the Trustee and MSMCI and their respective successors and assigns.
(b) Without
in any way limiting the foregoing, the parties confirm that this Assignment
includes the rights relating to amendments or waivers under the
Agreement. Accordingly, the right of MSMCI to consent to any
amendment of the Agreement and its rights concerning waivers as set forth in
Section 28 of the Agreement shall be exercisable, to the extent any such
amendment or waiver affects the Specified Mortgage Loans or any of the rights
under the Agreement with respect thereto (other than the servicing of the
Specified Mortgage Loans, which shall be enforced by the Master Servicer) by
the
Trustee as assignee of MSMCI.
(c) It
is expressly understood and agreed by the parties hereto that (i) this
Assignment is executed and delivered by LaSalle Bank National Association,
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 and Servicing Agreement dated as of the date
hereof among the Depositor, the Master Servicer, Xxxxx Fargo Bank, National
Association, as securities administrator, and the Trustee (the “Pooling and
Servicing Agreement”) for the Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-7AX,
Mortgage Pass-Through Certificates, Series 2007-7AX, (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 Bank National Association 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 Bank National Association,
individually or personally, to perform any covenant (either express or implied)
contained herein, (iv) under no circumstances shall LaSalle Bank National
Association 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
Assignment and (v) all recourse for any payment liability or other obligation
of
the assignee shall be had solely to the assets of the Trust.
2
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3.
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Representations
and Warranties
|
(a) The
Depositor 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 Seller or MSMCI other than those contained in the Agreement or this
Assignment.
(b) Each
of the parties hereto represents and warrants that it is duly and legally
authorized to enter into this Assignment.
(c) Each
of the Depositor, MSMCI, Seller and Servicer represents and warrants that this
Assignment 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
Seller hereby restates, as of the Closing Date (as defined in the Pooling and
Servicing Agreement), the representations and warranties set forth in Sections
7.01 and 7.02 of the Agreement, with respect to each of the Specified Mortgage
Loans that were sold by it under the Agreement, to and for the benefit of the
Depositor, the Trustee and the Trust, and by this reference incorporates such
representations and warranties herein, as of such Closing Date.
(e) The
Servicer hereby represents and warrants to the Assignee that, to the extent
the
Mortgage Loans will be part of a REMIC, the Servicer shall service the Mortgage
Loans and any real property acquired upon default thereof (including, without
limitation, making or permitting any modification, waiver or amendment of any
term of any Mortgage Loan) in accordance with the Servicing Agreement, but
in no
event in a manner that would (a) cause the REMIC to fail or qualify as a REMIC
or (b) result in the imposition of a tax upon the REMIC (including, but not
limited to, the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code, the tax on contributions to a REMIC set forth in Section 860G(d)
of
the Code and the tax on “net income from foreclosure property” as set forth in
Section 860G(c) of the Code).
4. The
Servicer hereby acknowledges that Xxxxx Fargo Bank, National Association has
been appointed as the Master Servicer of the Specified Mortgage Loans pursuant
to the Pooling and Servicing Agreement and, therefore, has the right to enforce
all obligations of the Servicer under the Agreement. Such rights will include,
without limitation, the right to terminate the Servicer under the Agreement
upon
the occurrence of an event of default thereunder, the right to receive all
remittances required to be made by the Servicer under the Agreement, the right
to receive all monthly reports and other data required to be delivered by the
Servicer under the Agreement, the right to examine the books and records of
the
Servicer, indemnification rights and the right to exercise certain rights of
consent and approval relating to actions taken by MSMCI. The Servicer shall
make
all distributions under the 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: 53144700, MSM
2007-7AX
3
The
Servicer shall deliver all reports required to be delivered to the Purchaser
under the Agreement to the Master Servicer at the following
address:
Xxxxx
Fargo Bank, National Association
0000
Xxx
Xxxxxxxxx Xxxx
Xxxxxxxx,
Xxxxxxxx 00000
Attention:
Client Manager, MSM 2007-7AX
Office
Number: (000) 000-0000
Telecopier:
(000) 000-0000
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5.
|
Amendments
to the Agreement
|
The
parties to this Assignment hereby agree to amend the Agreement as
follows:
(a) With
respect to the Specified Mortgage Loans, the term “Eligible Investments” as used
in the Agreement shall be replaced with the term “Permitted Investments,” which
shall have the meaning of such term as defined in the Pooling and Servicing
Agreement.
(b) With
respect to the Specified Mortgage Loans, subsection 12.01(c)(ii), the reference
to “Subsection 11.20” in the third line is revised to refer to
“Subsection 11.20 and Subsection 11.21”.
(c) With
respect to the Specified Mortgage Loans, subsection 14.02(b) of the Agreement
is
hereby deleted in its entirety.
(d) With
respect to the Specified Mortgage Loans, Exhibit 9A, Exhibit 9B and Exhibit
9C
to the Agreement are hereby replaced with Exhibit IIA, Exhibit IIB and Exhibit
IIC, respectively.
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6.
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Indemnification
|
The
Master Servicer shall indemnify and hold harmless the Servicer and its
affiliates, and in each case, its officers, directors and agents from and
against any losses, damages, penalties, fines, forfeitures, reasonable legal
fees and related costs, judgments and other costs and expenses arising out
of or
based upon a breach by the Master Servicer or any of its officers, directors,
agents or affiliates of its obligations in connection with the preparation,
filing and certification of any Form 10-K pursuant to the Pooling and Servicing
Agreement or the negligence, bad faith or willful misconduct of the Master
Servicer in connection therewith. In addition, the Master Servicer shall
indemnify and hold harmless the Servicer and its affiliates, and in each case,
its officers, directors and agents from and against any losses, damages,
penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments and other costs and expenses arising out of or based upon a breach
by
any Servicer (as defined in the Pooling and Servicing Agreement), other than
the
Servicer (as defined herein), of its obligations in connection with any back-up
certification (or any other back-up documents) to any certification of any
Form
10-K required to be provided by the Master Servicer, but solely to the extent
the Master Servicer receives amounts from such Servicer in connection with
any
indemnification provided by such Servicer (in each case as defined in the
Pooling and Servicing Agreement) to the Master Servicer.
4
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7.
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Continuing
Effect
|
Except
as
contemplated hereby, the Agreement shall remain in full force and effect in
accordance with its terms.
The
Servicer hereby agrees that, for so long as the Trust is reporting under the
Exchange Act, its obligations under Section 34 of the Agreement, as modified
by
this Assignment, shall survive the termination and removal of the Servicer
as
servicer of the Specified Mortgage Loans in the Trust and continue to apply
for
each calendar year or portion thereof during which the Servicer services the
Specified Mortgage Loans.
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8.
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Governing
Law
|
This
Assignment and the rights and obligations hereunder shall be governed by and
construed in accordance with the internal laws of the State of New
York.
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9.
|
Notices
|
Any
notices or other communications permitted or required under the Agreement to
be
made to the Depositor, MSMCI, the Master Servicer, the Seller, the Servicer
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 MSMCI:
Xxxxxx
Xxxxxxx Mortgage Capital Inc.
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention:
Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-7AX
With
a
copy to:
Xxxxxx
Xxxxxxx & Co. Incorporated
0000
Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention:
General Counsel’s Office
In
the
case of the Depositor:
Xxxxxx
Xxxxxxx Capital I Inc.
0000
Xxxxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention: Xxxxxx
Xxxxxxx Mortgage Loan Trust 2007-7AX
5
In
the
case of the Trustee:
LaSalle
Bank National Association,
as
Trustee for the Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-7AX
000
Xxxxx
XxXxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx,
Xxxxxxxx 00000
Attention:
Global Securities and Trust Services MSM 2007-7AX
In
the
case of the Seller and the Servicer:
GreenPoint
Mortgage Funding, Inc.,
000
Xxxx
Xxxxxx Xxxxx
Xxxxxx,
XX 00000
Attention: Xxxxxx
Xxxxxxx Mortgage Loan Trust 2007-7AX
or
to
such other address as may hereafter be furnished by the Depositor and the
Trustee to the parties in accordance with the provisions of the
Agreement.
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10.
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Ratification
|
Except
as
modified and expressly amended by this Assignment, the Agreement is in all
respects ratified and confirmed, and all terms, provisions and conditions
thereof shall be and remain in full force and effect.
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11.
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Counterparts
|
This
Assignment may be executed in counterparts, each of which when so executed
shall
be deemed to be an original and all of which when taken together shall
constitute one and the same instrument.
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12.
|
Definitions
|
Any
capitalized term used but not defined in this Assignment has the same meaning
as
in the Agreement.
[SIGNATURE
PAGE FOLLOWS]
6
IN
WITNESS WHEREOF, the parties hereto have executed this Assignment the day and
year first above written.
XXXXXX
XXXXXXX
MORTGAGE CAPITAL INC.
By:
/s/
Xxxxxxx Xxx
------------------------------------------------------------
Name:
Xxxxxxx
Xxx
Title:
Vice President
XXXXXX
XXXXXXX
CAPITAL I INC.
By:
/s/
Xxxxxxx
Xxx
-----------------------------------------------------------
Name: Xxxxxxx Xxx
Title:
Vice President
GREENPOINT
MORTGAGE
FUNDING, INC.
By:
/s/
Xxxxx
Xxxxx
---------------------------------------------------------
Name:
Xxxxx Xxxxx
Title:
Vice President
Acknowledged
and Agreed:
XXXXX
FARGO BANK, NATIONAL
ASSOCIATION,
as Master Servicer
By:
/s/
Xxxxx X. Xxxxxx
-------------------------------------------------------
Name: Xxxxx X. Xxxxxx
Title:
Vice President
LASALLE
BANK NATIONAL ASSOCIATION,
as
Trustee of Xxxxxx Xxxxxxx
Mortgage
Loan Trust 2007-7AX
By:
/s/ Xxxx Xxxxx
-----------------------------------------------------
Name:
Xxxx Xxxxx
Title:
Vice President
EXHIBIT
I
Mortgage
Loan Schedule
[see
Schedule A to Pooling and Servicing Agreement]
EXHIBIT
II
FORM
OF MONTHLY REMITTANCE REPORT
Exhibit
IIA: Standard File Layout – Delinquency Reporting
| Exhibit : Standard File Layout – Delinquency Reporting |
*The column/header names in bold are the minimum fields Xxxxx Fargo must receive from every Servicer
|
Column/Header
Name
|
Description
|
Decimal
|
Format
Comment
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SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR
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LOAN_NBR
|
A
unique identifier assigned to each loan by the originator.
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CLIENT_NBR
|
Servicer
Client Number
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SERV_INVESTOR_NBR
|
Contains
a unique number as assigned by an external servicer to identify a
group of
loans in their system.
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BORROWER_FIRST_NAME
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First
Name of the Borrower.
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BORROWER_LAST_NAME
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Last
name of the borrower.
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PROP_ADDRESS
|
Street
Name and Number of Property
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PROP_STATE
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The
state where the property located.
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PROP_ZIP
|
Zip
code where the property is located.
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BORR_NEXT_PAY_DUE_DATE
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The
date that the borrower's next payment is due to the servicer at the
end of
processing cycle, as reported by Servicer.
|
MM/DD/YYYY
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LOAN_TYPE
|
Loan
Type (i.e. FHA, VA, Conv)
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BANKRUPTCY_FILED_DATE
|
The
date a particular bankruptcy claim was filed.
|
MM/DD/YYYY
|
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BANKRUPTCY_CHAPTER_CODE
|
The
chapter under which the bankruptcy was filed.
|
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BANKRUPTCY_CASE_NBR
|
The
case number assigned by the court to the bankruptcy
filing.
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POST_PETITION_DUE_DATE
|
The
payment due date once the bankruptcy has been approved by the
courts
|
MM/DD/YYYY
|
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BANKRUPTCY_DCHRG_DISM_DATE
|
The
Date The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
|
MM/DD/YYYY
|
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LOSS_MIT_APPR_DATE
|
The
Date The Loss Mitigation Was Approved By The Servicer
|
MM/DD/YYYY
|
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LOSS_MIT_TYPE
|
The
Type Of Loss Mitigation Approved For A Loan Such As;
|
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LOSS_MIT_EST_COMP_DATE
|
The
Date The Loss Mitigation /Plan Is Scheduled To End/Close
|
MM/DD/YYYY
|
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LOSS_MIT_ACT_COMP_DATE
|
The
Date The Loss Mitigation Is Actually Completed
|
MM/DD/YYYY
|
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FRCLSR_APPROVED_DATE
|
The
date DA Admin sends a letter to the servicer with instructions to
begin
foreclosure proceedings.
|
MM/DD/YYYY
|
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ATTORNEY_REFERRAL_DATE
|
Date
File Was Referred To Attorney to Pursue Foreclosure
|
MM/DD/YYYY
|
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|
FIRST_LEGAL_DATE
|
Notice
of 1st legal filed by an Attorney in a Foreclosure Action
|
MM/DD/YYYY
|
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|
FRCLSR_SALE_EXPECTED_DATE
|
The
date by which a foreclosure sale is expected to occur.
|
MM/DD/YYYY
|
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FRCLSR_SALE_DATE
|
The
actual date of the foreclosure sale.
|
MM/DD/YYYY
|
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FRCLSR_SALE_AMT
|
The
amount a property sold for at the foreclosure sale.
|
2
|
No
commas(,) or dollar signs ($)
|
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EVICTION_START_DATE
|
The
date the servicer initiates eviction of the borrower.
|
MM/DD/YYYY
|
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EVICTION_COMPLETED_DATE
|
The
date the court revokes legal possession of the property from the
borrower.
|
MM/DD/YYYY
|
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LIST_PRICE
|
The
price at which an REO property is marketed.
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2
|
No
commas(,) or dollar signs ($)
|
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|
LIST_DATE
|
The
date an REO property is listed at a particular price.
|
MM/DD/YYYY
|
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OFFER_AMT
|
The
dollar value of an offer for an REO property.
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2
|
No
commas(,) or dollar signs ($)
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OFFER_DATE_TIME
|
The
date an offer is received by DA Admin or by the Servicer.
|
MM/DD/YYYY
|
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REO_CLOSING_DATE
|
The
date the REO sale of the property is scheduled to close.
|
MM/DD/YYYY
|
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REO_ACTUAL_CLOSING_DATE
|
Actual
Date Of REO Sale
|
MM/DD/YYYY
|
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OCCUPANT_CODE
|
Classification
of how the property is occupied.
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PROP_CONDITION_CODE
|
A
code that indicates the condition of the property.
|
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PROP_INSPECTION_DATE
|
The
date a property inspection is performed.
|
MM/DD/YYYY
|
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APPRAISAL_DATE
|
The
date the appraisal was done.
|
MM/DD/YYYY
|
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|
CURR_PROP_VAL
|
The
current "as is" value of the property based on brokers price opinion
or
appraisal.
|
2
|
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REPAIRED_PROP_VAL
|
The
amount the property would be worth if repairs are completed pursuant
to a
broker's price opinion or appraisal.
|
2
|
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|
If
applicable:
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DELINQ_STATUS_CODE
|
FNMA
Code Describing Status of Loan
|
||||
|
DELINQ_REASON_CODE
|
The
circumstances which caused a borrower to stop paying on a
loan. Code indicates the reason why the loan is in
default for this cycle.
|
||||
|
MI_CLAIM_FILED_DATE
|
Date
Mortgage Insurance Claim Was Filed With Mortgage Insurance
Company.
|
MM/DD/YYYY
|
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|
MI_CLAIM_AMT
|
Amount
of Mortgage Insurance Claim Filed
|
No
commas(,) or dollar signs ($)
|
|||
|
MI_CLAIM_PAID_DATE
|
Date
Mortgage Insurance Company Disbursed Claim Payment
|
MM/DD/YYYY
|
|||
|
MI_CLAIM_AMT_PAID
|
Amount
Mortgage Insurance Company Paid On Claim
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
POOL_CLAIM_FILED_DATE
|
Date
Claim Was Filed With Pool Insurance Company
|
MM/DD/YYYY
|
|||
|
POOL_CLAIM_AMT
|
Amount
of Claim Filed With Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
POOL_CLAIM_PAID_DATE
|
Date
Claim Was Settled and The Check Was Issued By The Pool
Insurer
|
MM/DD/YYYY
|
|||
|
POOL_CLAIM_AMT_PAID
|
Amount
Paid On Claim By Pool Insurance Company
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
FHA_PART_A_CLAIM_FILED_DATE
|
Date
FHA Part A Claim Was Filed With HUD
|
MM/DD/YYYY
|
|||
|
FHA_PART_A_CLAIM_AMT
|
Amount
of FHA Part A Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
FHA_PART_A_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part A Claim Payment
|
MM/DD/YYYY
|
|||
|
FHA_PART_A_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part A Claim
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
FHA_PART_B_CLAIM_FILED_DATE
|
Date
FHA Part B Claim Was Filed With HUD
|
MM/DD/YYYY
|
|||
|
FHA_PART_B_CLAIM_AMT
|
Amount
of FHA Part B Claim Filed
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
FHA_PART_B_CLAIM_PAID_DATE
|
Date
HUD Disbursed Part B Claim Payment
|
MM/DD/YYYY
|
|||
|
FHA_PART_B_CLAIM_PAID_AMT
|
Amount
HUD Paid on Part B Claim
|
2
|
No
commas(,) or dollar signs ($)
|
||
|
VA_CLAIM_FILED_DATE
|
Date
VA Claim Was Filed With the Veterans Admin
|
MM/DD/YYYY
|
|||
|
VA_CLAIM_PAID_DATE
|
Date
Veterans Admin. Disbursed VA Claim Payment
|
MM/DD/YYYY
|
|||
|
VA_CLAIM_PAID_AMT
|
Amount
Veterans Admin. Paid on VA Claim
|
2
|
No
commas(,) or dollar signs ($)
|
||
| MOTION_FOR_RELIEF_DATE |
The
date the Motion for Relief was filed
|
10
|
MM/DD/YYYY
|
||
| FRCLSR_BID_AMT |
The
foreclosure sale bid amount
|
11
|
No
commas(,) or dollar signs ($)
|
||
| FRCLSR_SALE_TYPE |
The
foreclosure sales results: REO, Third Party, Conveyance to
HUD/VA
|
|
|
||
| REO_PROCEEDS |
The
net proceeds from the sale of the REO property.
|
|
No
commas(,) or dollar signs ($)
|
||
| BPO_DATE |
The
date the BPO was done.
|
|
|
||
| CURRENT_FICO |
The
current FICO score
|
|
|
||
| HAZARD_CLAIM_FILED_DATE |
The
date the Hazard Claim was filed with the Hazard Insurance
Company.
|
10
|
MM/DD/YYYY
|
||
| HAZARD_CLAIM_AMT |
The
amount of the Hazard Insurance Claim filed.
|
11
|
No
commas(,) or dollar signs ($)
|
||
| HAZARD_CLAIM_PAID_DATE |
The
date the Hazard Insurance Company disbursed the claim
payment.
|
10
|
MM/DD/YYYY
|
||
| HAZARD_CLAIM_PAID_AMT |
The
amount the Hazard Insurance Company paid on the claim.
|
11
|
No
commas(,) or dollar signs ($)
|
||
| ACTION_CODE |
Indicates
loan status
|
Number
|
|||
| NOD_DATE |
|
|
MM/DD/YYYY
|
||
| NOI_DATE |
|
|
MM/DD/YYYY
|
||
| ACTUAL_PAYMENT_PLAN_START_DATE |
|
|
MM/DD/YYYY
|
||
| ACTUAL_PAYMENT_ PLAN_END_DATE |
|
|
|
||
| ACTUAL_REO_START_DATE |
|
|
MM/DD/YYYY
|
||
| REO_SALES_PRICE |
|
|
Number
|
||
| REALIZED_LOSS/GAIN |
As
defined in the Servicing Agreement
|
|
Number
|
||
| Exhibit IIB:Standard File Codes – Delinquency Reporting |
The
Loss Mit Type field should show the approved Loss
Mitigation Code as follows:
|
·
|
ASUM-Approved
Assumption
|
|
·
|
BAP-Borrower
Assistance Program
|
|
·
|
CO- Charge
Off
|
|
·
|
DIL- Deed-in-Lieu
|
|
·
|
FFA- Formal
Forbearance Agreement
|
|
·
|
MOD- Loan
Modification
|
|
·
|
PRE- Pre-Sale
|
|
·
|
SS- Short
Sale
|
|
·
|
MISC-Anything
else approved by the PMI or Pool
Insurer
|
NOTE:
Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those above,
provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
Xxxxx
Fargo Bank with a description of each of the Loss Mitigation Types prior to
sending the file.
The
Occupant Code field should show the current status of
the property code as follows:
|
·
|
Mortgagor
|
| · | Tenant |
|
·
|
Unknown |
|
·
|
Vacant |
The
Property Condition field should show the last reported
condition of the property as follows:
|
·
|
Damaged
|
|
·
|
Excellent
|
|
·
|
Fair
|
|
·
|
Gone
|
|
·
|
Good
|
|
·
|
Poor
|
|
·
|
Special
Hazard
|
|
·
|
Unknown
|
| Exhibit IIB:Standard File Codes – Delinquency Reporting, Continued |
The
FNMA Delinquent Reason Code field should show the Reason
for Delinquency as follows:
|
Delinquency
Code
|
Delinquency
Description
|
||
|
001
|
FNMA-Death
of principal mortgagor
|
||
|
002
|
FNMA-Illness
of principal mortgagor
|
||
|
003
|
FNMA-Illness
of mortgagor’s family member
|
||
|
004
|
FNMA-Death
of mortgagor’s family member
|
||
|
005
|
FNMA-Marital
difficulties
|
||
|
006
|
FNMA-Curtailment
of income
|
||
|
007
|
FNMA-Excessive
Obligation
|
||
|
008
|
FNMA-Abandonment
of property
|
||
|
009
|
FNMA-Distant
employee transfer
|
||
|
011
|
FNMA-Property
problem
|
||
|
012
|
FNMA-Inability
to sell property
|
||
|
013
|
FNMA-Inability
to rent property
|
||
|
014
|
FNMA-Military
Service
|
||
|
015
|
FNMA-Other
|
||
|
016
|
FNMA-Unemployment
|
||
|
017
|
FNMA-Business
failure
|
||
|
019
|
FNMA-Casualty
loss
|
||
|
022
|
FNMA-Energy
environment costs
|
||
|
023
|
FNMA-Servicing
problems
|
||
|
026
|
FNMA-Payment
adjustment
|
||
|
027
|
FNMA-Payment
dispute
|
||
|
029
|
FNMA-Transfer
of ownership pending
|
||
|
030
|
FNMA-Fraud
|
||
|
031
|
FNMA-Unable
to contact borrower
|
||
|
INC
|
FNMA-Incarceration
|
| Exhibit IIB:Standard File Codes – Delinquency Reporting, Continued |
The FNMA Delinquent Status Code field should show the Status of Default as follows:
|
Status
Code
|
Status
Description
|
||
|
09
|
Forbearance
|
||
|
17
|
Pre-foreclosure
Sale Closing Plan Accepted
|
||
|
24
|
Government
Seizure
|
||
|
26
|
Refinance
|
||
|
27
|
Assumption
|
||
|
28
|
Modification
|
||
|
29
|
Charge-Off
|
||
|
30
|
Third
Party Sale
|
||
|
31
|
Probate
|
||
|
32
|
Military
Indulgence
|
||
|
43
|
Foreclosure
Started
|
||
|
44
|
Deed-in-Lieu
Started
|
||
|
49
|
Assignment
Completed
|
||
|
61
|
Second
Lien Considerations
|
||
|
62
|
Veteran’s
Affairs-No Bid
|
||
|
63
|
Veteran’s
Affairs-Refund
|
||
|
64
|
Veteran’s
Affairs-Buydown
|
||
|
65
|
Chapter
7 Bankruptcy
|
||
|
66
|
Chapter
11 Bankruptcy
|
||
|
67
|
Chapter
13 Bankruptcy
|
Exhibit
IIC: Standard Loan Level File Layout – Master Servicing
|
Standard
Loan Level File Layout – Master Servicing
|
|
|
|
|
|
|
|
|
||
|
|
|
|
||
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
|
Each
file requires the following fields:
|
|
|
|
|
|
SER_INVESTOR_NBR
|
A
value assigned by the Servicer to define a group of loans.
|
|
Text
up to 20 digits
|
20
|
|
LOAN_NBR
|
A
unique identifier assigned to each loan by the investor.
|
|
Text
up to 10 digits
|
10
|
|
SERVICER_LOAN_NBR
|
A
unique number assigned to a loan by the Servicer. This may be
different than the LOAN_NBR.
|
|
Text
up to 10 digits
|
10
|
|
SCHED_PAY_AMT
|
Scheduled
monthly principal and scheduled interest payment that a borrower
is
expected to pay, P&I constant.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
NOTE_INT_RATE
|
The
loan interest rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
|
NET_INT_RATE
|
The
loan gross interest rate less the service fee rate as reported by
the
Servicer.
|
4
|
Max
length of 6
|
6
|
|
SERV_FEE_RATE
|
The
servicer's fee rate for a loan as reported by the
Servicer.
|
4
|
Max
length of 6
|
6
|
|
SERV_FEE_AMT
|
The
servicer's fee amount for a loan as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
NEW_PAY_AMT
|
The
new loan payment amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
NEW_LOAN_RATE
|
The
new loan rate as reported by the Servicer.
|
4
|
Max
length of 6
|
6
|
|
ARM_INDEX_RATE
|
The
index the Servicer is using to calculate a forecasted
rate.
|
4
|
Max
length of 6
|
6
|
|
ACTL_BEG_PRIN_BAL
|
The
borrower's actual principal balance at the beginning of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
ACTL_END_PRIN_BAL
|
The
borrower's actual principal balance at the end of the processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
BORR_NEXT_PAY_DUE_DATE
|
The
date at the end of processing cycle that the borrower's next payment
is
due to the Servicer, as reported by Servicer.
|
|
MM/DD/YYYY
|
10
|
|
SERV_CURT_AMT_1
|
The
first curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SERV_CURT_DATE_1
|
The
curtailment date associated with the first curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
|
CURT_ADJ_
AMT_1
|
The
curtailment interest on the first curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SERV_CURT_AMT_2
|
The
second curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SERV_CURT_DATE_2
|
The
curtailment date associated with the second curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
|
CURT_ADJ_
AMT_2
|
The
curtailment interest on the second curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
Exhibit
1:Continued
|
Standard
Loan Level File Layout
|
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
|
SERV_CURT_AMT_3
|
The
third curtailment amount to be applied.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SERV_CURT_DATE_3
|
The
curtailment date associated with the third curtailment
amount.
|
|
MM/DD/YYYY
|
10
|
|
CURT_ADJ_AMT_3
|
The
curtailment interest on the third curtailment amount, if
applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
PIF_AMT
|
The
loan "paid in full" amount as reported by the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
PIF_DATE
|
The
paid in full date as reported by the Servicer.
|
|
MM/DD/YYYY
|
10
|
|
ACTION_CODE
|
The
standard FNMA numeric code used to indicate the default/delinquent
status
of a particular loan.
|
|
Action
Code Key: 15=Bankruptcy, 00xXxxxxxxxxxx, , 00xXXX, 63=Substitution,
65=Repurchase,70=REO
|
2
|
|
INT_ADJ_AMT
|
The
amount of the interest adjustment as reported by the
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SOLDIER_SAILOR_ADJ_AMT
|
The
Soldier and Sailor Adjustment amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
NON_ADV_LOAN_AMT
|
The
Non Recoverable Loan Amount, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
LOAN_LOSS_AMT
|
The
amount the Servicer is passing as a loss, if applicable.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
Plus
the following applicable fields:
|
|
|
|
|
|
SCHED_BEG_PRIN_BAL
|
The
scheduled outstanding principal amount due at the beginning of the
cycle
date to be passed through to investors.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SCHED_END_PRIN_BAL
|
The
scheduled principal balance due to investors at the end of a processing
cycle.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SCHED_PRIN_AMT
|
The
scheduled principal amount as reported by the Servicer for the current
cycle -- only applicable for Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
SCHED_NET_INT
|
The
scheduled gross interest amount less the service fee amount for the
current cycle as reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
ACTL_PRIN_AMT
|
The
actual principal amount collected by the Servicer for the current
reporting cycle -- only applicable for Actual/Actual
Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
ACTL_NET_INT
|
The
actual gross interest amount less the service fee amount for the
current
reporting cycle as reported by the Servicer -- only applicable for
Actual/Actual Loans.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
PREPAY_PENALTY_
AMT
|
The
penalty amount received when a borrower prepays on his loan as reported
by
the Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
PREPAY_PENALTY_
WAIVED
|
The
prepayment penalty amount for the loan waived by the
servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
Exhibit
1: Continued
|
Standard
Loan Level File Layout
|
|
|
|
|
Column
Name
|
Description
|
Decimal
|
Format
Comment
|
Max
Size
|
|
MOD_DATE
|
The
Effective Payment Date of the Modification for the loan.
|
|
MM/DD/YYYY
|
10
|
|
MOD_TYPE
|
The
Modification Type.
|
|
Varchar
- value can be alpha or numeric
|
30
|
|
DELINQ_P&I_ADVANCE_AMT
|
The
current outstanding principal and interest advances made by
Servicer.
|
2
|
No
commas(,) or dollar signs ($)
|
11
|
|
BREACH_FLAG
|
Flag
to indicate if the repurchase of a loan is due to a breach of
Representations and Warranties
|
Y=Breach
N=NO
Breach
Let
blank if N/A
|
1
|
|
Exhibit
2: Monthly
Summary Report by Single Investor
|
||||||
|
MONTHLY
SUMMARY REPORT
|
||||||
|
For
Month Ended: mm/dd/yyyy
|
Servicer
Name
|
|||||
|
Prepared
by: _____________________________
|
Investor
Nbr
|
|||||
|
Section
1. Remittances and Ending Balances - Required
Data
|
||||||
|
Beginning
|
Ending
|
Total
Monthly
|
Total
Ending Unpaid
|
Total
Monthly Principal
|
||
|
Loan
Count
|
Loan
Count
|
Remittance
Amount
|
Principal
Balance
|
Balance
|
||
|
0
|
0
|
$0.00
|
$0.00
|
$0.00
|
||
|
Principal
Calculation
|
||||||
|
1. Monthly
Principal Due
|
+
|
$0.00
|
||||
|
2. Current
Curtailments
|
+
|
$0.00
|
||||
|
3. Liquidations
|
+
|
$0.00
|
||||
|
4. Other
(attach explanation)
|
+
|
$0.00
|
||||
|
5. Principal
Due
|
$0.00
|
|||||
|
6. Interest
(reported "gross")
|
+
|
$0.00
|
||||
|
7. Interest
Adjustments on Curtailments
|
+
|
$0.00
|
||||
|
8. Servicing
Fees
|
-
|
$0.00
|
||||
|
9. Other
Interest (attach explanation)
|
+
|
$0.00
|
||||
|
10.
Interest Due
|
(need
to subtract ser fee)
|
$0.00
|
||||
|
Remittance
Calculation
|
||||||
|
11. Total
Principal and Interest Due (lines 5+10)
|
+
|
$0.00
|
||||
|
12. Reimbursement
of Non-Recoverable Advances
|
-
|
$0.00
|
||||
|
13. Total
Realized gains
|
+
|
$0.00
|
||||
|
14. Total
Realized Losses
|
-
|
$0.00
|
||||
|
15. Total
Prepayment Penalties
|
+
|
$0.00
|
||||
|
16. Total
Non-Supported Compensating Interest
|
-
|
$0.00
|
||||
|
17. Other
(attach explanation)
|
$0.00
|
|||||
|
18. Net
Funds Due on or before Remittance Date
|
$
|
$0.00
|
||||
|
Section
2. Delinquency Report - Optional Data for Loan
Accounting
|
|||||||
|
Installments
Delinquent
|
|||||||
|
Total
No.
|
Total
No.
|
In
|
Real
Estate
|
Total
Dollar
|
|||
|
of
|
of
|
30-
|
60-
|
90
or more
|
Foreclosure
|
Owned
|
Amount
of
|
|
Loans
|
Delinquencies
|
Days
|
Days
|
Days
|
(Optional)
|
(Optional)
|
Delinquencies
|
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
$0.00
|
|
Section
3. REG AB Summary Reporting - REPORT ALL APPLICABLE
FIELDS
|
|||
|
REG
XX XXXXXX
|
LOAN
COUNT
|
BALANCE | |
|
PREPAYMENT PENALTY
AMT
|
0
|
$0.00
|
|
|
PREPAYMENT
PENALTY AMT WAIVED
|
0
|
$0.00
|
|
|
DELINQUENCY
P&I AMOUNT
|
0
|
$0.00
|
|
