Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)
Appears in 13 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He8), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He1), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc3)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Reports to investors, including those to be 1122(d)(3)(i) filed W-2 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)Servicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan 1122(d)(4)(i) documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ---------------- W-3
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc6), Pooling and Servicing Agreement (Alternative Loan Trust 2006-33cb), Pooling and Servicing Agreement (Alternative Loan Trust 2006-25cb)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Reports to investors, including those to be 1122(d)(3)(i) filed W-2 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(iServicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan 1122(d)(4)(i) documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction 1122(d)(4)(iii) agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ---------------- W-3 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. --------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction 1122(d)(4)(vi) agreements and related pool asset documents. --------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements 1122(d)(4)(vii) established by the transaction agreements. --------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed 1122(d)(4)(viii) temporary (e.g., illness or unemployment). --------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. --------------- ---------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the 1122(d)(4)(x) obligor's --------------- ----------------
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-J4), Pooling and Servicing Agreement (Alternative Loan Trust 2006-J4)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- X -------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in X the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction X agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)
Appears in 2 contracts
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)
Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- X ------------------------------------------------------------------------------------------------------------------------------------ Reconciliations are prepared on a monthly basis for all asset-backed X securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Reports to investors, including those to be filed with the Commission, are X maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the 1122(d)(3)(i)Servicer. ------------------------------------------------------------------------------------------------------------------------------------ Amounts due to investors are allocated and remitted in accordance with X 1122(d)(3)(ii) timeframes, ------------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Indemnification Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- 1122(d)(2)(vii) ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(i)) ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. -------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ---------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- ---------------- ---------------- -------------------------------------------------------------------------------- APPLICABLE SERVICING SERVICING CRITERIA CRITERIA -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ---------------- ---------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the 1122(d)(3)(iServicer. ---------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth 1122(d)(3)(ii) in the transaction agreements. ---------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days 1122(d)(3)(iii) specified in the transaction agreements. ---------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other 1122(d)(3)(iv) form of payment, or custodial bank statements. ---------------- ---------------- Pool Asset Administration ---------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction X 1122(d)(4)(i) agreements or related mortgage loan documents. ---------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction X 1122(d)(4)(ii) agreements ---------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements 1122(d)(4)(iii) in the transaction agreements. ---------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related 1122(d)(4)(iv) mortgage loan documents. ---------------- ---------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal 1122(d)(4)(v) balance. ---------------- ---------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and 1122(d)(4)(vi) related pool asset documents. ---------------- ---------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. ---------------- ---------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii)unemployment). ---------------- ---------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan 1122(d)(4)(ix) documents. ---------------- ---------------- -------------------------------------------------------------------------------- APPLICABLE SERVICING SERVICING CRITERIA CRITERIA -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the 1122(d)(4)(x) transaction agreements. ---------------- ---------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122(d)(4)(xi) transaction agreements. ---------------- ---------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. ---------------- ---------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the 1122(d)(4)(xiii)transaction agreements. ---------------- ---------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in 1122(d)(4)(xiv) accordance with the transaction agreements. ---------------- ---------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. -------------------------------------------------------------------------------- SCHEDULE 1-A LIST OF DOCUMENTS FOR AMERICAN HOME With respect to each Mortgage Loan, the Mortgage Loan Documents shall include each of the following items, which shall be available for inspection by the Purchaser and any prospective Purchaser, and which shall be delivered to the Custodian, or to such other Person as the Purchaser shall designate in writing:
Appears in 1 contract
Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- --------------------- -------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------------- -------------------------------- INVESTOR REMITTANCES AND REPORTING --------------------- -------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the 1122(d)(3)(i)Servicer. --------------------- -------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. --------------------- -------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------------- -------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------- -------------------------------- POOL ASSET ADMINISTRATION --------------------- -------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. --------------------- -------------------------------- Mortgage loan and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements --------------------- -------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. --------------------- -------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. --------------------- --------------------------------
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Lehman Xs Trust Series 2006-2n)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) prevent unauthorized access. ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the X transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance X with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced 1122(d)(3)(i) by the 1122(d)(3)(iServicer. -------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, X distribution priority and other terms set forth 1122(d)(3)(ii) in the transaction agreements. -------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's X investor records, or such other number of days 1122(d)(3)(iii) specified in the transaction agreements. -------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other X 1122(d)(3)(iv) form of payment, or custodial bank statements. -------------------------------------------------------------------------------- EXH. B-1-2 -------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Pool Asset Administration -------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction X 1122(d)(4)(i) agreements or related mortgage loan documents. -------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the transaction X 1122(d)(4)(ii) agreements -------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved X in accordance with any conditions or 1122(d)(4)(iii) requirements in the transaction agreements. -------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such X other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage 1122(d)(4)(iv) loan documents. -------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with X respect to an obligor's unpaid principal 1122(d)(4)(v) balance. -------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed X and approved by authorized personnel in accordance with the transaction agreements and 1122(d)(4)(vi) related pool asset documents. -------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, X conducted and concluded in accordance with the timeframes or other requirements established by 1122(d)(4)(vii) the transaction agreements. -------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and X describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or 1122(d)(4)(viii) unemployment). -------------------------------------------------------------------------------- EXH. B-1-3 -------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates X are computed based on the related mortgage loan 1122( d)( 4)(ix) documents. -------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on X such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122( d)( 4)(x) in the transaction agreements. -------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such X support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the 1122( d)( 4)(xi) transaction agreements. -------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not X charged to the obligor, unless the late payment 1122(d)(4)(xii) was due to the obligor's error or omission. -------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, X or such other number of days specified in the 1122(d)(4)(xiii) transaction agreements. -------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in X 1122(d)(4)(xiv) accordance with the transaction agreements. -------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as 1122(d)(4)(xv) set forth in the transaction agreements. -------------------------------------------------------------------------------- [AMERICAN HOMX] [XXXX XF SUBSERVICER] Date: _________________________________ By: _________________________________ Name: Title: EXHIBIT C Additionxx Xxxxxxxure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Servixxx] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-2380 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx Xttn: Xxxxxxxxx Xxxxt Services - XXX 0000-0XX - XXX XXXXXX XXXXXXXING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of January 1, 2006, as amended by the Assignment, Assumption and Recognition Agreement dated as of May 1, 2006 among Morgan Stanley Capital I Inc., as Depositor, American Home Mortgage Xxxx., Xxxxx Xargo Bank, National Association, as Master Servicer, and LaSaxxx Xank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Securities Exchange Act. 1122(d)(2)(vi Unissued checks are safeguarded so as to ) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- ---------------------- Reports to investors, including those to 1122(d)(3)(i) be filed --------------- ---------------------- W-2 -------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria -------------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------------- with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)Servicer. --------------- ---------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the 1122(d)(3)(iii) transaction agreements. --------------- ---------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------- ---------------------- Pool Asset Administration --------------- ---------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related 1122(d)(4)(i) mortgage loan documents. --------------- ---------------------- Mortgage loan and related documents are safeguarded as required by the 1122(d)(4)(ii) transaction agreements. --------------- ---------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the 1122(d)(4)(iii) transaction agreements. --------------- ---------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are 1122(d)(4)(iv) posted to the --------------- ---------------------- W-3
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc11)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the 1122(d)(2)(vii) transaction agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- INVESTOR REMITTANCES AND REPORTING -------------------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and 1122(d)(3)(i) other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)--------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2007-Sd2)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the 1122(d)(3)(i)Servicer. ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------- Pool Asset Administration -------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified 1122(d)(2)(vii)specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- ---------------- 1122(d)(3)(i) Reports to investors, including those to be filed W-2 ------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)Servicer. --------------- ---------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ---------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of 1122(d)(3)(iii)days specified in the transaction agreements. --------------- ---------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) statements. --------------- ---------------- Pool Asset Administration --------------- ---------------- Collateral or security on mortgage loans is maintained as required by the transaction 1122(d)(4)(i) agreements or related mortgage loan documents. --------------- ---------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ---------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or 1122(d)(4)(iii)requirements in the transaction agreements. --------------- ---------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ----------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-8t1)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- 1122(d)(2)(vii) ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(i) ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------- EXH. B-I-2 ------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Pool Asset Administration ------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. ------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. ------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree X with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's X mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance X plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. ------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(viii) ------------------------------------------------------------------------------------------------- EXH. B-I-3 ------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for X mortgage loans with variable rates are computed based on 1122( d)( 4 )(ix) the related mortgage loan documents. ------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as X escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122( d)( 4 )(x) in the transaction agreements. ------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or X insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122( d)( 4 )(xi) ------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment X to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. ------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted X within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction agreements. 1122(d)(4)(xiii) ------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are X recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xiv) ------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- [GREENPOINT ] [NAME OF SUBSERVICER] Date: ________________________________________ By: ________________________________________ Name: Title:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the 1122(d)(3)(i)Servicer. --------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. --------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. --------------------------------------------------------------------------------------------------- Exhibit G-2
Appears in 1 contract
Samples: Custodial Agreement (Luminent Mortgage Trust 2006-7)
Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- -------------------- ---------------------- Reconciliations are prepared on a monthly basis for all asset-backed Asset Backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- -------------------- ---------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------- ---------------------- 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)Servicer. -------------------- ---------------------- 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. -------------------- ---------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. -------------------- ---------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. -------------------- ---------------------- Pool Asset Administration -------------------- ---------------------- 1122(d)(4)(i) Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents. -------------------- ---------------------- Mortgage loan and related documents are safeguarded as required by 1122(d)(4)(ii) the transaction agreements. -------------------- ---------------------- 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. -------------------- ---------------------- 1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. -------------------- ---------------------- 1122(d)(4)(v) The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's unpaid principal balance. -------------------- ---------------------- 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. -------------------- ---------------------- 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. -------------------- ---------------------- Y-2
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S10)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- APPLICABLE SERVICING SERVICING CRITERIA CRITERIA --------------------------------------------------------------------------------------------------------- REFERENCE CRITERIA --------------------------------------------------------------------------------------------------------- INVESTOR REMITTANCES AND REPORTING --------------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans pool assets serviced 1122(d)(3)(i) by the 1122(d)(3)(iservicer. --------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and 1122(d)(3)(ii) other terms set forth in the transaction agreements. [X] --------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. [X] --------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. [X] --------------------------------------------------------------------------------------------------------- POOL ASSET ADMINISTRATION --------------------------------------------------------------------------------------------------------- Collateral or security on pool assets is maintained as required by the transaction agreements or related asset 1122(d)(4)(i) pool documents. --------------------------------------------------------------------------------------------------------- Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements --------------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. --------------------------------------------------------------------------------------------------------- Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in 1122(d)(4)(iv) accordance with the related pool asset documents. --------------------------------------------------------------------------------------------------------- The servicer's records regarding the pool assets agree with the servicer's records with respect to an obligor's unpaid 1122(d)(4)(v) principal balance. --------------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. --------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the 1122(d)(4)(vii) transaction agreements. --------------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). --------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the 1122(d)(4)(ix) related pool asset documents. --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- APPLICABLE SERVICING SERVICING CRITERIA CRITERIA --------------------------------------------------------------------------------------------------------- REFERENCE CRITERIA --------------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction 1122(d)(4)(x) agreements. --------------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other 1122(d)(4)(xi) number of days specified in the transaction agreements. --------------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. --------------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days 1122(d)(4)(xiii) specified in the transaction agreements. --------------------------------------------------------------------------------------------------------- 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. --------------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, [X] 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. ---------------------------------------------------------------------------------------------------------
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RAMP Series 2007-Rs1 Trust)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- ------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- ------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- ------------------- Reports to investors, including those to be filed --------------- ------------------- W-2 ------------------------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------------------------ with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced 1122(d)(3)(i) by the 1122(d)(3)(i)Servicer. --------------- ------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- ------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of 1122(d)(3)(iii) days specified in the transaction agreements. --------------- ------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) statements. --------------- ------------------- Pool Asset Administration --------------- ------------------- Collateral or security on mortgage loans is maintained as required by the transaction 1122(d)(4)(i) agreements or related mortgage loan documents. --------------- ------------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- ------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or 1122(d)(4)(iii) requirements in the transaction agreements. --------------- ------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- ------------------- W-3
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J8)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) prevent unauthorized access. ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other X number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the X transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-7)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- -------------------- ---------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- -------------------- ---------------------- INVESTOR REMITTANCES AND REPORTING -------------------- ---------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans 1122(d)(3)(i) serviced by the 1122(d)(3)(i)Servicer. -------------------- ---------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. -------------------- ---------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction 1122(d)(3)(iii) agreements. -------------------- ---------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank 1122(d)(2)(iv) -------------------- ---------------------- POOL ASSET ADMINISTRATION -------------------- ---------------------- Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. -------------------- ---------------------- Mortgage loan and related documents are safeguarded as required by 1122(d)(4)(ii) the transaction agreements -------------------- ---------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. -------------------- ---------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. -------------------- ---------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. -------------------- ----------------------
Appears in 1 contract
Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-1)
Securities Exchange Act. Unissued checks are safeguarded so as to 1122(d)(2)(vi) prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- --------------- -------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days 1122(d)(2)(vii) specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- --------------- -------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- --------------- -------------------------------- Reports to investors, including those to be 1122(d)(3)(i) filed --------------- -------------------------------- W-2 -------------------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria -------------------------------------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------------------------------------- with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)Servicer. --------------- -------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set 1122(d)(3)(ii) forth in the transaction agreements. --------------- -------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of 1122(d)(3)(iii) days specified in the transaction agreements. --------------- -------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank 1122(d)(3)(iv) statements. --------------- -------------------------------- Pool Asset Administration --------------- -------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction 1122(d)(4)(i) agreements or related mortgage loan documents. --------------- -------------------------------- Mortgage loan and related documents are safeguarded as required by the transaction 1122(d)(4)(ii) agreements. --------------- -------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or 1122(d)(4)(iii) requirements in the transaction agreements. --------------- -------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related 1122(d)(4)(iv) mortgage loan documents are posted to the --------------- -------------------------------- W-3
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa2)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other number of 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the 1122(d)(3)(iServicer. ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------- Pool Asset Administration ------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool X are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. ------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree X with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's X mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance X plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. ------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). ------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for X mortgage loans with variable rates are computed based on 1122(d)(4)(ix) the related mortgage loan documents. ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as X escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or X insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of 1122(d)(4)(xi) days specified in the transaction agreements. ------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment X to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. ------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted X within two business days to the obligor's records maintained by the servicer, or such other number of days 1122(d)(4)(xiii) specified in the transaction agreements. ------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are X recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in X Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- [WELLS FARGO BANK, NATIONAL ASSOCIATION] [NAME OF SUBSERVICER] Date: -------------------------------------------
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. ----------------------------------------------------------------------------------------------------------------- ---------------------- ------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction 1122(d)(2)(vii) agreements. ----------------------------------------------------------------------------------------------------------------- ---------------------- ------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ---------------------- ------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance and number of mortgage loans serviced by the 1122(d)(3)(i)
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-14t2)
Securities Exchange Act. Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) unauthorized access. ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-asset- X backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 X calendar days of their original identification, or such other 1122(d)(2)(vii) number of days specified in the transaction agreements. ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ----------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid X principal balance 1122(d)(3)(i) and number of mortgage loans serviced by the 1122(d)(3)(iServicer. ---------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ---------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. ---------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) custodial bank statements. ---------------------------------------------------------------------------------------------------- Pool Asset Administration ---------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ---------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ---------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are X made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. ---------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., 1122(d)(4)(iv) escrow) in accordance with the related mortgage loan documents. ---------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree X with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ---------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's X mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ---------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, X modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. ---------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). ---------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage X loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. ---------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as X escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other 1122(d)(4)(x) number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or X insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other 1122(d)(4)(xi) number of days specified in the transaction agreements. ---------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment X to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. ---------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ---------------------------------------------------------------------------------------------------- Reference Criteria ---------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted X within two business days to the obligor's records maintained by the servicer, or such other number of days specified in 1122(d)(4)(xiii) the transaction agreements. ---------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are X recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ---------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. ---------------------------------------------------------------------------------------------------- [WELLS FARGO BANK, NATIONAL ASSOCIATION] [NAME OF SUBSERVICER] Date: ____________________________ By: _____________________________ Name: Title:
Appears in 1 contract
Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar)
