Common use of Annual Servicing Report Clause in Contracts

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003, the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003, from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 20032004, the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 20032004, from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003200[ ], the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies [and the Insurer Certificate Insurer] to the effect that such firm has examined certain documents and records relating to the servicing of home equity loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003200[ ], from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003, the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity mortgage loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003, from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003200[ ], the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies [and the Insurer Insurer] to the effect that such firm has examined certain documents and records relating to the servicing of home equity mortgage loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003200[ ], from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 20032004, the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity mortgage loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 20032004, from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003200[_], the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity loans Mortgage Loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003200[_], from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003200[ ], the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies [and the Insurer Certificate Insurer] to the effect that such firm has examined certain documents and records relating to the servicing of home equity mortgage loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003200[ ], from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.

Annual Servicing Report. On or before March 31 of each year, beginning March 31, 2003200[_], the Master Servicer at its expense shall cause a firm of nationally recognized independent public accountants (who may also render other services to the Master Servicer) to furnish a report to the Indenture Trustee and a copy to each of the Rating Agencies and the Insurer to the effect that such firm has examined certain documents and records relating to the servicing of home equity mortgage loans by the Master Servicer during the most recent calendar year (or in the case of the report delivered in 2003200[_], from the Closing Date) then ended under pooling and servicing agreements or sale and servicing agreements (including this Agreement) substantially similar to this Agreement and that such examination, which has been conducted substantially in compliance with the audit guide for audits of non-supervised mortgagees approved by the Department of Housing and Urban Development for use by independent public accountants (to the extent that the procedures in such audit guide are applicable to the servicing obligations set forth in such agreements), has disclosed no items of noncompliance with the provisions of this Agreement which, in the opinion of such firm, are material, except for such items of noncompliance as shall be set forth in such report.