Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”): (i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts; (ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified; (iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date; (iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid; (v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances); (vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period; (vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period; (viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date; (ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties; (x) the Delinquency Percentage; (xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero; (xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period; (xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period; (xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses; (xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date; (xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date; (xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date; (xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26; (xix) the Senior Credit Enhancement Percentage for such Distribution Date; (xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date; (xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider; (xxii) whether the Stepdown Date or a Trigger Event is in effect; (xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement); (xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date; (xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and (xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the ServicerMaster Servicer (which in turn shall be based, as applicable, on information provided to the Trustee Master Servicer by the Servicers) the Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Providereach Servicer, the Servicer Credit Risk Manager and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the related Servicer pursuant to Section 3.263.24 or pursuant to the related Servicing Agreement;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicers, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee Trust Administrator from information provided by the Servicer and reported by the Trustee Trust Administrator based on the OTS “OTS” methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer Ocwen hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of Ocwen.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)received;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. For all purposes Such obligation of this Agreement, with respect to any Mortgage Loan, delinquencies the Trustee shall be determined deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2006, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2006, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2006, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the OTS methodology statement to Certificateholders for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due related Distribution Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount Amount, the Class M-1 Credit Enhancement Percentage and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close aggregate Principal Balance of Business at the end of the related Due Periodany 2nd lien Mortgage Loans;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ix) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the Delinquency Percentage;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixix) whether the Stepdown Date or a Trigger Event is in effecthas occurred and the Realized Loss Percentage for such Distribution Date;
(xxiiixx) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxxi) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxii) payments, if any, made under the Interest Rate Cap Contract and the amount distributed to each Class of Certificates from payments made under the Interest Rate Cap Contract;
(xxiii) the amount of any Net Swap Payments or Swap Termination Payments;
(xxiv) the applicable Record Dates, Accrual Periods and Determination Dates for calculating distributions for such Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent delinquent with respect to a Monthly Scheduled Payment due on a Due Date if such Monthly Scheduled Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Scheduled Payment if such Monthly Scheduled Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators. In the case of information furnished pursuant to subclauses (i) and (ii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3)
Statements. (a) On Not later than 1:00 p.m., New York time, on the fifth Business Day prior to each Distribution Date, basedthe Servicer shall deliver to the Trustee by electronic means a computer file containing the loan level information necessary to permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of the end of the preceding Prepayment Period or Due Period, as applicable, on and such other information provided as the Trustee shall reasonably require, and the Seller hereby agrees to it by provide the ServicerTrustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than each Distribution Date the Trustee shall prepare a statement (the “Remittance Report”) containing the information set forth below with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) Available Funds and make available each Class’ Certificate Rate for the related Distribution Date;
(ii) the aggregate amount of the distribution to each Holder Class of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made Certificates on such Distribution Date (the “Monthly Statement”):Date;
(iiii) the amount of the distribution made on such Distribution Date to set forth in paragraph (i) above in respect of interest and the Holders amount thereof in respect of each any Class of Regular Certificates allocable to principal Interest Carryover Shortfall, and the amount of the distribution made to the Holders of the any Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsInterest Carryover Shortfall remaining;
(iiiv) the amount of the distribution made set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on such Distribution Date to the Holders last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Regular Certificates (other than the Class P Certificates) allocable after giving effect to interest, separately identifiedpayments allocated to principal above;
(iiiix) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Required Overcollateralization Target Amount as of such the close of business on the Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for Date, after giving effect to distributions of principal on such Distribution Date;
(ivx) any fees whether a Cumulative Loss Event or a Delinquency Event has occurred and expenses of is continuing and the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidcalculation thereof;
(vxi) the aggregate amount of Advances for Principal Prepayments received during the related Due Period (including the general purpose of such Advances)Prepayment Period;
(vixii) the aggregate amount of all Curtailments that were received during the Due Period;
(xiii) the principal portion of all Monthly Payments received during the Due Period;
(xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period;
(xv) the amount of the Monthly Advances and scheduled principal received or advanced by the Servicer with respect Compensating Interest payment to be made on the Determination Date;
(xvi) the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders, respectively for the Distribution Date;
(xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period;
(viixviii) with respect the amount of all payments or reimbursements to each Loan Group, the related group balance Servicer pursuant to Sections 3.03(ii) and (vi) (as reported by the Servicer);
(xix) the number of Mortgage Loans outstanding at the Close of Business beginning and at the end of the related Due Period;
(viiixx) the number, aggregate Principal Balance, weighted average remaining term to maturity amount of Liquidation Loan Losses experienced during the preceding Due Period and weighted average Mortgage Rate the Cumulative Net Losses as a percentage of the Mortgage Loans as of the related Determination DateCut-Off Date Pool Balance;
(ixxxi) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (as determined using including the OTS method) (A) Delinquent (exclusive number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy or foreclosure bankruptcy; and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A CertificatesMortgage Loans which are REO Property, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerseparately set forth);
(xxii) whether for the Stepdown Date or a Trigger Event is Distribution Dates in effectJuly 2003 and August 2003, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) the total cashflows received number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (including amounts received from as reported by the Supplemental Interest Trust Trustee under the Interest Rate Swap AgreementServicer);
(xxiv) the respective Pass-Through Rates applicable amount of Net Rate Cap Carryover distributed to each Class of Offered Certificates (other than the Class A A-IO Certificates), each Class of Mezzanine Certificates stating separately any amounts received from the cap provider with respect to the Interest Rate Cap Agreement, and the Class C Certificates amount of Net Rate Cap Carryover remaining for each such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateClass;
(xxv) the amount on deposit in the Net WAC Rate Carryover Reserve Cap Fund, and the amounts of each deposit and withdrawal from such Account; and
(xxvi) the applicable Record for each Pre-Funding Distribution Date, Accrual Period the remaining amount in the Pre-Funding Account. The Trustee shall make available such report to the Servicer, the Seller, the Certificateholders, the Rating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and Determination Date Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for calculating distributions each Class for such Distribution each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make such statement the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party theretohereto). In .
(b) Within a reasonable period of time after the case end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information furnished pursuant as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the amounts Trustee shall be expressed in a separate section deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the report Code as a dollar amount for are in force from time to time.
(c) On each Class for each $1,000 original dollar amount as of the Cut-off Distribution Date. In addition, the Trustee will report shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on Form 10-D such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any material breaches time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Trustee Depositor, the Seller and each Certificateholder (if applicablerequested in writing), material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month term of this Agreement, such periodic, special or that have become material over time. For all other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with respect to any Mortgage Loan, delinquencies such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be determined entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the Trustee from information provided ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar of a proprietary nature, and shall not be copied or distributed except to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made extent required by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants law or to the Depositor that it is not subject Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any delinquency recognition policy established by its safety and soundness regulatorsother purpose except as set forth in this Agreement.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt3), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of and Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-4), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-3)
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Seller, the Master Servicer and the Rating Agency, a statement based, as applicable, on loan-level information provided to it by obtained from the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement Servicers (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period[reserved];
(vii) with respect to the Loan Group Balance and related Net WAC and Net WAC Cap for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the One-Year MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) for each Loan Group, the aggregate Principal Balance of the COFI Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) Losses and the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution DateRealized Losses, if any, allocated to each Class of Certificates or Principal-Only Components;
(xvi) the Class Certificate Principal Balance or Class Certificate Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to and the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the related Servicing Agreement, or Swap Termination Payments (a) due from the Trust and (b) due from Section of this Agreement, as applicable, requiring or allowing the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(e)(i);
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)current Recoveries allocable to each Loan Group;
(xxiv) the respective Pass-Through Rates applicable cumulative Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateLoan Group;
(xxv) the amount on deposit of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(xxvi) for each Loan Group, the amount of Deferred Interest and Net WAC Rate Carryover Reserve AccountDeferred Interest, if any, for such Loan Group; and
(xxvixxvii) payments made under the Yield Maintenance Agreements, if any; and
(xxviii) the applicable Record Dateamount of Net Deferred Interest, Accrual Period if any, added to the Class Certificate Principal Balance or Component Principal Balance of the related Certificates and Determination Date for calculating distributions for such Distribution DatePrincipal-Only Components. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and warranties regarding (xxi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(c) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-8), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-8)
Statements. (a) On Not later than 1:00 p.m., New York time, on the fifth Business Day prior to each Distribution Date, basedthe Servicer shall deliver to the Trustee by electronic means a computer file containing the loan level information necessary to permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of the end of the preceding Prepayment Period or Due Period, as applicable, on and such other information provided as the Trustee shall reasonably require, and the Seller hereby agrees to it by provide the ServicerTrustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than each Distribution Date the Trustee shall prepare a statement (the “Remittance Report”) containing the information set forth below with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) Available Funds and make available the Certificate Rate for each Class for the related Distribution Date;
(ii) the aggregate amount of the distribution to each Holder Class of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made Certificates on such Distribution Date (the “Monthly Statement”):Date;
(iiii) the amount of the distribution made on such Distribution Date to set forth in paragraph (i) above in respect of interest and the Holders amount thereof in respect of each any Class of Regular Certificates allocable to principal Interest Carryover Shortfall, and the amount of the distribution made to the Holders of the any Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsInterest Carryover Shortfall remaining;
(iiiv) the amount of the distribution made set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on such Distribution Date to the Holders last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Regular Certificates (other than the Class P Certificates) allocable after giving effect to interest, separately identifiedpayments allocated to principal above;
(iiiix) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Required Overcollateralization Target Amount as of such the close of business on the Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for Date, after giving effect to distributions of principal on such Distribution Date;
(ivx) any fees whether a Cumulative Loss Event or a Delinquency Event has occurred and expenses of is continuing and the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidcalculation thereof;
(vxi) the aggregate amount of Advances for Principal Prepayments received during the related Due Period (including the general purpose of such Advances)Prepayment Period;
(vixii) the aggregate amount of all Curtailments that were received during the Due Period;
(xiii) the principal portion of all Monthly Payments received during the Due Period;
(xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period;
(xv) the amount of the Monthly Advances and scheduled principal received or advanced by the Servicer with respect Compensating Interest payment to be made on the Determination Date;
(xvi) the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders, respectively for the Distribution Date;
(xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period;
(viixviii) with respect the amount of all payments or reimbursements to each Loan Group, the related group balance Servicer pursuant to Sections 3.03(ii) and (vi) (as reported by the Servicer);
(xix) the number of Mortgage Loans outstanding at the Close of Business beginning and at the end of the related Due Period;
(viiixx) the number, aggregate Principal Balance, weighted average remaining term to maturity amount of Liquidation Loan Losses experienced during the preceding Due Period and weighted average Mortgage Rate the Cumulative Net Losses as a percentage of the Mortgage Loans as of the related Determination DateCut-Off Date Pool Balance;
(ixxxi) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (as determined using including the OTS method) (A) Delinquent (exclusive number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy or foreclosure bankruptcy; and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A CertificatesMortgage Loans which are REO Property, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerseparately set forth);
(xxii) whether for the Stepdown Distribution Date or a Trigger Event is in effectApril 2004 and May 2004, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) the total cashflows received number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (including amounts received from as reported by the Supplemental Interest Trust Trustee under the Interest Rate Swap AgreementServicer);
(xxiv) the respective Pass-Through Rates applicable amount of Net Rate Cap Carryover distributed to each Class of Offered Certificates (other than the Class A A-IO Certificates), each Class of Mezzanine Certificates stating separately any amounts received from the cap provider with respect to the Interest Rate Cap Agreements, and the Class C Certificates amount of Net Rate Cap Carryover remaining for each such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateClass;
(xxv) the amount on deposit in the Net WAC Rate Carryover Reserve Cap Fund, and the amounts of each deposit and withdrawal from such Account; and
(xxvi) the applicable Record for each Pre-Funding Distribution Date, Accrual Period the remaining amount in the Pre-Funding Account. The Trustee shall make available such report to the Servicer, the Seller, the Certificateholders, the Rating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and Determination Date Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for calculating distributions each Class for such Distribution each $1 original dollar amount as of the related Cut-Off Date. The Trustee will make such statement the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party theretohereto). In .
(b) Within a reasonable period of time after the case end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information furnished pursuant as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the amounts Trustee shall be expressed in a separate section deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the report Code as a dollar amount for are in force from time to time.
(c) On each Class for each $1,000 original dollar amount as of the Cut-off Distribution Date. In addition, the Trustee will report shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on Form 10-D such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any material breaches time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Trustee Depositor, the Seller and each Certificateholder (if applicablerequested in writing), material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month term of this Agreement, such periodic, special or that have become material over time. For all other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with respect to any Mortgage Loan, delinquencies such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be determined entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the Trustee from information provided ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar of a proprietary nature, and shall not be copied or distributed except to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made extent required by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants law or to the Depositor that it is not subject Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any delinquency recognition policy established by its safety and soundness regulatorsother purpose except as set forth in this Agreement.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1), Pooling and Servicing Agreement (Delta Financial Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 91 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction loan number of each such Mortgage Loan, the unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class C Certificates and the Class C S Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account, the Interest Coverage Account and the Reserve AccountFund; and
(xxvixxiv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the related Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet websitewebsite and its fax-on-demand service. The Trustee’s internet website shall initially 's fax-on- demand service may be located at “waccessed by calling (301) 815-6610. The Trustee's intern▇▇.▇ ▇▇▇▇▇▇▇.▇ ▇▇▇”ll initially be located at "www.ctslink.com". Assistance in using usin▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇r the website fax-on-demand service can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the una▇▇▇ ▇▇ ▇▇▇ ▇▇▇ above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall (i) prepare and make available forward by mail to each Holder of the Regular Certificates and (ii) make available on its website at www.usbank.com/abs for access by e▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Prepayment Charges collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Charges pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xviixv) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Offered Certificates, each class of Mezzanine the Class B-3 Certificates and the Class C B-4 Certificates for such Distribution Date, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Dateamount of any LIBOR Carryover Amounts;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of principal on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Liquidation Report for such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Mortgage Loan; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (xxvior an affiliate) during the applicable Record Date, Accrual related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. 95 The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xviii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4), Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period and Determination Date for calculating distributions for such Distribution Datethe amount of any claims previously paid that are reimbursed to the Insurer (net of the aggregate amount of Premium paid to the Insurer hereunder) pursuant to Section 3.01; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Senior Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2002-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Securities Administrator shall prepare and make available to the Trustee, each Holder of the Regular CertificatesCertificateholder, the Swap ProviderSeller, the Master Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information obtained from the Servicer pursuant to the provision by the Servicer of its Remittance Report (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) the aggregate amount of servicing compensation received by the Servicer during the related Due Period (without taking into account any fees reduction thereof in respect of Compensating Interest) and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal BalanceBalance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [RESERVED];
(xi) for each Loan Group the number, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans in the aggregate and for each Loan Group (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in fulland the Net Realized Losses for each Class of Certificates on such Distribution Date, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance or Class Certificate Notional Amount of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution DateShortfalls, to the extent not covered by payments by Unpaid Interest Shortfall Amount, and the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Interest Shortfall for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant Section of this Agreement, as applicable, requiring or Swap Termination Payments (a) due from allowing the Trust and (b) due from the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) the total cashflows received (including amounts received from amount of any Basis Risk Shortfall, if any, and the Supplemental Interest Trust Trustee under related accrued interest thereon, with respect to the Interest Rate Swap Agreement)LIBOR Certificates;
(xxiv) the respective Pass-Through Rates applicable current Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Loan Group; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Datecumulative Recoveries allocable to each Loan Group. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changeschange. As a condition The Securities Administrator’s obligations pursuant to access this Section 5.04 are limited to the Trustee’s internet website, extent of its receipt of all necessary information from the Trustee may require registration and the acceptance of a disclaimerServicer. The Trustee will not be liable for and the dissemination of information in accordance Securities Administrator may fully rely upon and shall have no liability with this Agreement. The Trustee shall also be entitled respect to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
(d) On or before January 31st of each year, the Servicer, on behalf of the Trust, shall provide the Securities Administrator with written notice listing all Distribution Date statements with respect to Distribution Dates occurring in the prior calendar year that were included in a Form 8-K filing pursuant to Section 3.28, provided however, that if no Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans K is required to the extent known to the Trustee and if applicablebe filed for such prior calendar year, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies no written notice shall be determined by the Trustee from information required. No later than March 15th of each year in which such written notice is provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way Securities Administrator, the Securities Administrator shall sign a certification (in the form attached hereto as Exhibit P), for the benefit of examplethe Person(s) signing the Form 10-K Certification, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by regarding certain aspects of the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30Form 10-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsK Certification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Provident Funding Mortgage Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Pre-Funding Accounts, the Interest Coverage Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003 5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderServicer, the Servicer Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date, separately identifying any reduction thereof due to the receipt of an Insured Principal Payment (in the case of the Class A Certificates);
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, the Class S Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the Net WAC Rate Carryover Amount for each class distribution of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor principal on such Distribution Date;
(xxixix) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixx) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxi) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions of any Insured Amount for such Distribution Date. The Trustee will make such statement (, separately identifying any Insured Interest Payment and any Insured Principal Payment; and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Assets Sec Corp First Franklin Mort Ln Tr 2002 Ffa)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderGuarantor, the NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identifiedidentified and the calculation thereof;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and Amount, the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to each Loan Group for the related Due Period;
(vi) the Principal Balance of the Mortgage Loans in each Loan Group (after giving effect to the principal portion of Monthly Payments due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period);
(vii) as of the related Determination Date and with respect to each Loan Group, (A) the related group number of Mortgage Loans, (B) the aggregate principal balance at the Close of Business at the end of the related Due Period;
Mortgage Loans, (viiiC) the number, aggregate Principal Balance, weighted average remaining term to maturity of the Mortgage Loans and (D) the weighted average Mortgage Rate as of the first day of the most recently ended Due Period of the Mortgage Loans as and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the related Determination Datepreceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) in each Loan Group that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business 130 on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds for each Loan Group made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses for each Loan Group incurred during the related Prepayment Period and Period, the cumulative amount of Realized LossesLosses for each Loan Group and the Three-Month Rolling Delinquency Percentage;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates and the Notional Amount of each Class of Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, the Class S Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for each Loan Group for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates, the Class S Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, Overcollateralized Amount and any Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Class S Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) the amount on deposit in the Pre-Funding Accounts immediately prior to the related Prepayment Period, the amount withdrawn therefrom during the related Prepayment Period and the amount remaining on deposit therein as of the end of the related Prepayment Period and as of such Distribution Date, the amount on deposit in, and the amounts withdrawn from and included in Available Funds, each Interest Coverage Account and the Net WAC Rate Carryover Reserve Account;
(xxiv) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date;
(xxv) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date;
(xxvi) such other information as the Guarantor may reasonably request in such format as reasonably requested by the Guarantor and any other information that is required by the Code and regulations thereunder to be made available to Certificateholders; and
(xxvixxvii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions Maximum Cap Rate for such Distribution Date. ; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerGuarantor, the Swap Provider NIMS Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution 132 date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the Guarantor, the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) By not later than September 15, 2002, the Trustee is required to (i) confirm, to the extent such data is available in the Information Circular or from Banc of America Securities LLC, that the cash flows, weighted average lives, yields and credit enhancement default analysis for the Class A-1 Certificates and Class S-1 Certificates as presented in the Information Circular are correct therein based on the OTS assumptions and principal and interest methodology for determining delinquencies on mortgage loans similar to described in the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent Information Circular and are consistent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made the model developed by the close of business on Trustee for the Mortgage Loan's next succeeding Due Date, calculations that the Trustee is required to make hereunder and a Mortgage Loan would be more than 30-days Delinquent (ii) notify the Guarantor that the information referred to in clause (i) above is consistent with respect to such Monthly Payment if such Monthly Payment were not made the model developed by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsTrustee.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Senior Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS “OTS” methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Class A-1 Reserve Account, the Group 2 Reserve Account and Class M/B Reserve Account on such Distribution Date;
(xvii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xviii) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateAvailable Funds;
(xx) the Net WAC Rate Carryover Amount rate at which interest accrues for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from information contained in the Trust and (b) due from the Swap ProviderLiquidation Report for such Distribution Date;
(xxii) whether the Stepdown Date aggregate Principal Balance of Mortgage Loans purchased by the Servicer, an Originator or a Trigger Event is in effectthe Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of the Supplemental Interest Trust Trustee under Mortgage Loans repurchased by the Interest Rate Swap Agreement)Servicer during the related Prepayment Period in connection with Section 3.16;
(xxiv) the respective Pass-Through Rates applicable to each Class amount of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateCredit Risk Manager Fee paid;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Charge listed on deposit Net WAC Rate Carryover Reserve Accounteach related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Servicer or an Originator Prepayment Charge Payment Amount paid by the related Originator with respect to each such Mortgage Loan; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Dateamount of Subsequent Recoveries received during the related Prepayment Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-He2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer, ) the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiv) [reserved];
(xxv) to the extent provided by the Servicer (A) the amount of payments received from the Servicer related to claims under each PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under each PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); and
(xxvi) to the extent provided by the Servicer (A) the dollar amount of claims made under each PMI Policy that were denied (as identified by the Servicer) during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under each PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related). The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee Trust Administrator from information provided by the Servicer and reported by the Trustee Trust Administrator based on the OTS “OTS” methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2)
Statements. (a) On Not later than 1:00 p.m., New York time, on the fifth Business Day prior to each Distribution Date, basedthe Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer file containing the loan level information necessary to permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of the end of the preceding Prepayment Period or Due Period, as applicable, on and such other information provided as the Trustee shall reasonably require, and the Seller hereby agrees to it by provide the ServicerTrustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than each Distribution Date the Trustee shall prepare a statement (the “Remittance Report”) containing the information set forth below with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) Available Funds and make available each Class’ Certificate Rate for the related Distribution Date;
(ii) the aggregate amount of the distribution to each Holder Class of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made Certificates on such Distribution Date (the “Monthly Statement”):Date;
(iiii) the amount of the distribution made on such Distribution Date to set forth in paragraph (i) above in respect of interest and the Holders amount thereof in respect of each any Class of Regular Certificates allocable to principal Interest Carryover Shortfall, and the amount of the distribution made to the Holders of the any Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsInterest Carryover Shortfall remaining;
(iiiv) the amount of the distribution made set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on such Distribution Date to the Holders last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Regular Certificates (other than the Class P Certificates) allocable after giving effect to interest, separately identifiedpayments allocated to principal above;
(iiiix) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Required Overcollateralization Target Amount as of such the close of business on the Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for Date, after giving effect to distributions of principal on such Distribution Date;
(ivx) any fees whether a Cumulative Loss Event or a Delinquency Event has occurred and expenses of is continuing and the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidcalculation thereof;
(vxi) the aggregate amount of Advances for Principal Prepayments received during the related Due Period (including the general purpose of such Advances)Prepayment Period;
(vixii) the aggregate amount of interest and scheduled principal all Curtailments that were received or advanced by during the Servicer with respect to the related Due Period;
(viixiii) with respect the principal portion of all Monthly Payments received during the Due Period;
(xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period;
(xv) the amount of the Monthly Advances and the Compensating Interest payment to each be made on the Determination Date;
(xvi) the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders, respectively for the Distribution Date;
(xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Group, Rate as of the related group balance first day of the month prior to the Distribution Date;
(xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) (as reported by the Servicer);
(xix) the number of Mortgage Loans outstanding at the Close of Business beginning and at the end of the related Due Period;
(viiixx) the number, aggregate Principal Balance, weighted average remaining term to maturity amount of Liquidation Loan Losses experienced during the preceding Due Period and weighted average Mortgage Rate the Cumulative Net Losses as a percentage of the Mortgage Loans as of the related Determination DateCut-Off Date Pool Balance;
(ixxxi) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (as determined using including the OTS method) (A) Delinquent (exclusive number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy or foreclosure bankruptcy; and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A CertificatesMortgage Loans which are REO Property, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerseparately set forth);
(xxii) whether for each Pre-Funding Distribution Date, the Stepdown Date or a Trigger Event is amount, if any, on deposit in effectthe First Payment Loan Account;
(xxiii) the total cashflows received number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (including amounts received from as reported by the Supplemental Interest Trust Trustee under the Interest Rate Swap AgreementServicer);
(xxiv) the respective Pass-Through Rates applicable amount of Net Rate Cap Carryover distributed to each Class of Offered Certificates (other than the Class A A-IO Certificates), each Class of Mezzanine Certificates stating separately any amounts received from the cap provider with respect to the Interest Rate Cap Agreements, and the Class C Certificates amount of Net Rate Cap Carryover remaining for each such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateClass;
(xxv) [Reserved];
(xxvi) for each Pre-Funding Distribution Date, the remaining amount on deposit Net WAC Rate Carryover Reserve in the Pre-Funding Account; and
(xxvixxvii) the applicable Record Dateamount of the Insured Payments, Accrual Period and Determination Date for calculating distributions for if any, to be made on such Distribution Date. The Trustee shall make available such report to the Servicer, the Seller, the Certificate Insurer, the Certificateholders, the Rating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make such statement the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party theretohereto). In .
(b) Within a reasonable period of time after the case end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information furnished pursuant as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the amounts Trustee shall be expressed in a separate section deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the report Code as a dollar amount for are in force from time to time.
(c) On each Class for each $1,000 original dollar amount as of the Cut-off Distribution Date. In addition, the Trustee will report shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on Form 10-D such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any material breaches time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Trustee Certificate Insurer, the Depositor, the Seller and each Certificateholder (if applicablerequested in writing), material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month term of this Agreement, such periodic, special or that have become material over time. For all other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with respect to any Mortgage Loan, delinquencies such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be determined entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the Trustee from information provided ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar of a proprietary nature, and shall not be copied or distributed except to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made extent required by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants law or to the Depositor that it is not subject Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any delinquency recognition policy established by its safety and soundness regulatorsother purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Eq Ln as Bk Cer Se 03 1)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.jpmorgan.com/sfr, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and the Loan Group Balance for each Loan Group at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to separately stated for each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) separately stated for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) separately stated for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan 103 number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) separately stated for each Loan Group, the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and Class B-4 Certificates for such Distribution Date, separately identifying the Collection Account for portions thereof attributable to LIBOR Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) [Reserved];
(xviii) [Reserved];
(xix) the Senior Credit Enhancement Percentage for such Distribution Dateamount of the Trustee Fee paid;
(xx) the Net WAC Rate LIBOR Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for Amounts distributed on such Distribution Date and the amount portion thereof covered by withdrawals from the Reserve Account and the amounts remaining unpaid after reimbursements therefor giving effect to distributions thereof on such Distribution Date;
(xxi) any Overcollateralization Deficiency after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event has occurred and is in effectcontinuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to rate at which interest accrues for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andLiquidation Report for such Distribution Date;
(xxvi) the applicable Record Date, Accrual aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and Determination Date for calculating distributions for indicating the Section of this Agreement requiring or allowing the purchase of each such Distribution Date. The Trustee will make such statement Mortgage Loan; and
(and, at its option, any additional files containing xxvii) the same information aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇connection with Section 3.16. Parties that are unable to use the above distribution option http://www.jpmorgan.com/sfr are entitled to have a paper copy mailed to them via first class mail t▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ by calling the customer service desk Trustee at (212) 623-5600 and indicating such. The Trustee shall have the right to change the way t▇ ▇▇▇▇▇▇ ▇▇▇ ▇ay such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports made available to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual 105 Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available post on its website at ▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇ and forward by mail to each Holder of the Regular Certificates, the Swap Provider, the Servicer Certificates and the Rating AgenciesGuarantor, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified, including the amount of any distribution from the LIBOR Carryover Reserve Account or the Class AF-1 Interest Rate Cap Account, as applicable;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns by the Servicer during the related Collection Period and accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and the Collection Account Class B-3 Certificates for such Distribution Date, separately identifying the portions thereof attributable to LIBOR Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) the amount of the Trustee Fee paid;
(xviii) the LIBOR Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xix) any Overcollateralization Deficiency after giving effect to the Senior Credit Enhancement Percentage for distribution of Extra Principal Distribution Amount on such Distribution Date;
(xx) whether a Trigger Event has occurred and is continuing, and the Net WAC Rate Carryover Amount cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxi) the Available Funds for such Distribution Date;
(xxii) the rate at which interest accrues for each class Class of Class A Certificates for such Distribution Date;
(xxiii) the Liquidation Report for such Distribution Date;
(xxiv) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each class such Mortgage Loan;
(xxv) the aggregate Principal Balance of Mezzanine Certificatesthe Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16;
(xxvi) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date;
(xxvii) the Maximum Cap Rate for such Distribution Date;
(xxviii) the LIBOR Carryover Amount, if any, for the Class AV-1 Certificates for such Distribution Date Date, and the amount of such Interest Carryover Amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxiA) the amount of any Net Swap Payments or Swap Termination Payments payments received relating to claims under the PMI Policy during the related Prepayment Period (aand the number of Mortgage Loans to which such payments related) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiiiB) the total cashflows cumulative amount of payments received (including amounts received from the Supplemental Interest Trust Trustee relating to claims under the Interest Rate Swap AgreementPMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxivA) the respective Pass-Through Rates applicable to each Class dollar amount of Class A Certificates, each Class of Mezzanine Certificates claims made under the PMI Policy that were denied during the Prepayment Period (and the Class C Certificates for number of Mortgage Loans to which such Distribution denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the Pass-Through Rate applicable number of Mortgage Loans to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountwhich such denials related); and
(xxvixxxi) such other information as the applicable Record Date, Accrual Period Guarantor may reasonable request in such format as reasonably requested by the Guarantor and Determination Date for calculating distributions for such Distribution Dateany other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the Guarantor and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) in the applicable Record Dividend Account immediately prior to the related Master Servicer Remittance Date, Accrual Period the amount deposited into the Dividend Account on the related Master Servicer Remittance Date (separately identifying the amount received from Mortgagors and Determination the amount advanced) and the amount withdrawn from the Dividend Account on the related Master Servicer Remittance Date for calculating distributions for (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but and shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date such statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party theretohereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Ff2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the each Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances and/or Monthly Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(viivi) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer JPMorgan and NCHLS pursuant to Section 3.263.24 or by Countrywide Servicing pursuant to Section 2.04 of Exhibit B;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxiii) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxiv) the amount of any Net Swap Payments or Swap Termination Payments;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from Group I Available Funds and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Group II Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) in the applicable Record Dividend Account immediately prior to the related Master Servicer Remittance Date, Accrual Period the amount deposited into the Dividend Account on the related Master Servicer Remittance Date (separately identifying the amount received from Mortgagors and Determination the amount advanced) and the amount withdrawn from the Dividend Account on the related Master Servicer Remittance Date for calculating distributions for (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"www.ctslink.com". Assistance in usin▇ ▇▇.▇ ▇▇▇▇▇▇▇ ▇.▇▇▇”. Assistance in using the website can an be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option una▇▇▇ ▇▇ ▇▇▇ ▇▇▇site are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. 91
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2001 Ff1)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions t▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses the amount of Compensating Interest paid by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and maturity, the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination DateDue Date and number and aggregate Principal Balance of all Additional Group 3 Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Subordinated Applied Realized Loss Amounts, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Subordinated Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Swap Account or the Cap Carryover Reserve Account on such Distribution Date;
(xvii) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Group 3 Pre-Funding Account that has not been used to purchase Additional Group 3 Mortgage Loans and that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer, an Originator or the Interest Rate Swap Seller during the related Prepayment Period and indicating the section of this Agreement or the applicable Originator Mortgage Loan Purchase Agreement), as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class amount of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateCredit Risk Manager Fee paid;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Charge listed on deposit Net WAC Rate Carryover Reserve Account; andeach related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Servicer or the Originator Prepayment Charge Payment Amount paid by the related Originator with respect to each such Mortgage Loan;
(xxvi) the applicable Record Dateamount of Subsequent Recoveries received during the related Prepayment Period;
(xxvii) only for so long as the Trust is subject to the Exchange Act reporting requirements, Accrual Period the Interest Rate Swap Agreement's "significance percentage" of the Pool Balance;
(xxviii) the amount and recipient of any Net Swap Payments and Swap Termination Payments;
(xxix) the date of such Distribution Date and the Determination Date for calculating distributions for such Distribution Date;
(xxx) any expenses or indemnification amounts paid by the Trust Fund, the specific purpose of each payment and the parties to whom these payments are made;
(xxxi) for each Class, the applicable Record Date and Interest Accrual Period; and
(xxxii) unless such information is otherwise set forth in From 10-D relating to such Distribution Date, any material breaches of representations and warranties relating to the Mortgage Loans or material breaches of transaction covenants or representations and warranties. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and Mortgage Loans provided by the Trustee shall provide timely and adequate notification Servicer. In determining whether a breach of a representation or warranty relating to all above parties regarding any such changes. As the Mortgage Loans is material or whether a condition to access the Trustee’s internet websitebreach of a transaction covenant or representation or warranty is material for purposes of subclause (xxxii) above, the Trustee may require registration consult with the Depositor and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy Depositor's determination of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)materiality. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, The Trustee will also make available copies of the periodic reports the Trustee will report prepares and files with the Commission, including distribution reports on Form 10-D D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through www.ctslink.com promptly (but no later than one Business Day) after t▇▇ ▇▇▇▇▇▇▇ ▇▇▇ filed such reports with the Commission.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to each Residual Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during each Residual Certificateholder by the preceding calendar month or that have become material over time. Trustee pursuant to any requirements of the Code as from time to time in force.
(d) For all purposes of this AgreementAgreement including, but not limited to, providing the information set forth in clause (viii) of Section 4.06(a), with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS so-called "OTS" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent one payment delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent two payments delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s 's second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is its current policy and is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ABFC 2006-Opt1 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Floating Rate Certificates, each class of Mezzanine the Class X Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A of Floating Rate Certificates, the Mezzanine Class X Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Floting Rate Certificates, each the Class of Mezzanine X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)received;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the Pool Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the Pool Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) A) the dollar amount of claims made under the Pool Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the Pool Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. ; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. For all purposes Such obligation of this Agreement, with respect to any Mortgage Loan, delinquencies the Trustee shall be determined deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2006, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2006, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2006, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the OTS methodology statement to Certificateholders for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due related Distribution Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust Series 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇."▇▇▇▇▇://▇▇▇.▇▇▇”.▇▇.▇▇▇/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the each Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount 104 as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) payments, if any, made under the Delinquency PercentageCap Contract;
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Regular Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Regular Certificates and (other than the Class C Certificates P Certificates) for such Distribution Date and the Unpaid 105 Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C B Certificates for such Distribution Date;
(xvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date;
(xvii) the Credit Enhancement Percentage for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, any Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition106
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;; 115
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date; and
(xxiii) payments, if any, made under the Cap Contract;
(xxvxxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. 117 The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s 's internet website shall initially to be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-Hy1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [Reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xx) when the Stepdown Date, a Sequential Trigger Event or a Trigger Event has occurred; 115
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderAvailable Funds;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇."▇▇▇▇▇://▇▇▇.▇▇▇”.▇▇.▇▇▇/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate. 116
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-3)
Statements. (a) On Two Business Days prior to each Distribution Date, basedthe Securities Administrator shall make available to the Trustee, as applicable, on information provided and concurrently with each distribution to it by the ServicerCertificateholders, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderSeller, the Servicer Master Servicer, the Trustee and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer, (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Pro Rata Senior Percentage, the Overcollateralized AmountSenior Percentage, the Overcollateralization Release AmountSenior Prepayment Percentage, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the Six-Month CMT Indexed and One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the Six-Month LIBOR Indexed, One-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [reserved]
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to and the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;; and
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the related Servicing Agreement, or Swap Termination Payments (a) due from the Trust and (b) due from Section of this Agreement, as applicable, requiring or allowing the Swap Provider;
(xxii) whether purchase of each such Mortgage Loan. The Securities Administrator will make the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and warranties regarding (xxi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and if applicableshall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
(d) No later than the second Business Day following each Determination Date, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, Master Servicer shall provide the Securities Administrator the following information with respect to any each Mortgage Loan, delinquencies shall be determined by Loan (the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to “Remittance Report”):
(i) the Mortgage Loans. By way Loan identifying number;
(ii) [reserved];
(iii) the current Loan Rate as of example, a Mortgage Loan would be Delinquent with respect to a the end of the related Due Period;
(iv) the related Servicing Fee Rate;
(v) the current Monthly Payment due on a as of the end of the related Due Period;
(vi) the next scheduled Due Date as of the end of the related Due Period;
(vii) the next Adjustment Date of the Mortgage Loan as of the end of the related Due Period, if such Monthly Payment is not made by applicable;
(viii) the close Stated Principal Balance of business the Mortgage Loan immediately prior to the related Due Period;
(ix) the Stated Principal Balance of the Mortgage Loan as of the end of the related Due Period;
(x) [reserved];
(xi) the aggregate of all interest received on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by including Advances;
(xii) [reserved];
(xiii) the close aggregate of business all scheduled principal payments received on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants Loans, including Advances;
(xiv) Principal Prepayments in part;
(xv) Principal Prepayments in full;
(xvi) the delinquency status of the Mortgage Loan (i.e., 0, 30, 60, 90+ days Delinquent);
(xvii) Prepayment Penalty Amounts;
(xviii) an indication as to whether the Depositor that it Mortgage Loan is not subject in foreclosure;
(xix) an indication as to any delinquency recognition policy established whether the related Mortgaged Property has become an REO Property;
(xx) the date of bankruptcy of the Mortgagor, if any;
(xxi) the date of foreclosure, if any;
(xxii) the date on which the related Mortgaged Property became an REO Property;
(xxiii) for each Mortgage Loan for which a Liquidation Event has occurred, whether such Mortgage Loan (i) has been paid in full, (ii) is a Liquidated Mortgage Loan or (iii) has been repurchased or replaced;
(xxiv) [reserved];
(xxv) the Stated Principal Balance of the Mortgage Loan on the date on which a Liquidation Event occurs;
(xxvi) Liquidation Proceeds;
(xxvii) Net Liquidation Proceeds;
(xxviii) Realized Losses;
(xxix) Net Interest Shortfalls;
(xxx) Relief Act Reductions;
(xxxi) the aggregate of all scheduled interest received on the Mortgage Loans, excluding Advances;
(xxxii) the aggregate of all scheduled principal received on the Mortgage Loans, excluding Advances;
(xxxiii) the current amount of Advances outstanding;
(xxxiv) the amount advanced by its safety and soundness regulatorsthe related Servicer.
(xxxv) the amount of principal advanced by the related Servicer; and
(xxxvi) the amount of interest advanced by the related Servicer.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month Due Period preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, each Class of Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, each Class of Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class Class of Mezzanine Class B Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. Cap Contract; The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer), the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiii) the amount on deposit in the Pre-Funding Account and the Interest Coverage Account; and
(xxiv) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and that is being distributed to the Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee Trust Administrator from information provided by the Servicer and reported by the Trustee Trust Administrator based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants In addition, on each Distribution Date, based, as applicable, on information provided to the Depositor Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer), the Trust Administrator shall prepare and make available information, separated for each Originator, regarding the performance of the Mortgage Loans, including, but not limited to, information regarding delinquency, loss and prepayment experience of the Mortgage Loans.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that it is not subject substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any delinquency recognition policy established requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by its safety such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and soundness regulatorsfurnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-3)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Class S Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date; 97
(xix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Pre-Funding Account, the Interest Coverage Account and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. 98 The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Tr Asset Backed Cert Ser 2002-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇, a statement (the "Distribution Date Statement") as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal or reduction of Principal Balance, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P N Certificates allocable to Prepayment Charges Charges, Servicer Prepayment Charge Payment Amounts and Servicer Transferor Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance Balance, or Principal Balance, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixvi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.Fee paid;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2003-Ahl1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Securities Administrator shall prepare and make available to the Trustee, each Holder of the Regular CertificatesCertificateholder, each Seller, the Swap Provider, the Master Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information obtained from the Servicer pursuant to the provision by the Servicer of its Remittance Report (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) the aggregate amount of servicing compensation received by the Servicer during the related Due Period (without taking into account any fees reduction thereof in respect of Compensating Interest) and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal BalanceBalance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [RESERVED];
(xi) for each Loan Group the number, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans in the aggregate and for each Loan Group (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in fulland the Net Realized Losses for each Class of Certificates on such Distribution Date, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution DateShortfalls, to the extent not covered by payments by Unpaid Interest Shortfall Amount, and the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Interest Shortfall for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by each Seller during the related Due Period, and indicating the relevant Section of this Agreement, as applicable, requiring or Swap Termination Payments (a) due from allowing the Trust and (b) due from the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);current Recoveries allocable to each Loan Group; and
(xxiv) the respective Pass-Through Rates applicable cumulative Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and Loan Group. The Securities Administrator will make the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changeschange. As a condition The Securities Administrator’s obligations pursuant to access this Section 5.04 are limited to the Trustee’s internet website, extent of its receipt of all necessary information from the Trustee may require registration and the acceptance of a disclaimerServicer. The Trustee will not be liable for and the dissemination of information in accordance Securities Administrator may fully rely upon and shall have no liability with this Agreement. The Trustee shall also be entitled respect to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
(d) On or before January 31st of each year, the Servicer, on behalf of the Trust, shall provide the Securities Administrator with written notice listing all Distribution Date statements with respect to Distribution Dates occurring in the prior calendar year that were included in a Form 8-K filing pursuant to Section 3.28, provided however, that if no Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans K is required to the extent known to the Trustee and if applicablebe filed for such prior calendar year, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies no written notice shall be determined by the Trustee from information required. No later than March 15th of each year in which such written notice is provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way Securities Administrator, the Securities Administrator shall sign a certification (in the form attached hereto as Exhibit P), for the benefit of examplethe Person(s) signing the Form 10-K Certification, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by regarding certain aspects of the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30Form 10-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsK Certification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Provident Fund Mort Loan Tr 2004 1)
Statements. (a) On Concurrently with each Distribution Datedistribution to Certificateholders, basedthe Securities Administrator shall make available to each Certificateholder, as applicablethe Seller, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer and the Servicers (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. The Distribution Date (Statement shall include the “Monthly Statement”):following:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group [ ] for the Mortgage Pool for such following Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid[reserved];
(v) the aggregate amount of servicing compensation received by each Servicer during the related Due Period;
(vi) the aggregate amount of Advances for the related Due Period (including and the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced unreimbursed Advances as reported by the Servicer with respect to the related Due Periodeach Servicer;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) [reserved].
(ix) the aggregate Principal Balance of the One-Month LIBOR Indexed, Six-Month LIBOR Indexed, One-Year LIBOR Indexed and One-Year MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) the amount of the Master Servicer Fees paid to or retained by the Master Servicer;
(xi) the aggregate amount of Servicing Fees paid to or retained by the Servicers;
(xii) to the extent that such amounts are paid out of the Distribution Account, the amount of fees, expenses or indemnification amounts paid by the Trust with an identification of the general purpose of such amounts and the party receiving such amounts;
(xiii) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxiv) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of Loans, in the end of the related Prepayment Period) that were (as determined aggregate and for each Loan Group, using the OTS method) “MBA” method (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the Close close of Business business on the last day of the preceding calendar month preceding such Distribution Date and (D) REO Propertiesmonth;
(xxv) the Delinquency Percentagerolling six-month delinquency rate for that Distribution Date;
(xixvi) the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixvii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xivxviii) the aggregate amount of Realized Losses for each Loan Group and Recoveries incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount Losses and Recoveries as of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixix) the cumulative amount of Realized Losses for each Loan Group;
(xx) the Realized Losses and Recoveries, if any, allocated to each Class of Certificates on the related Distribution Date;
(xxi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xviixxii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to of such Certificates on such Distribution Date;
(xxiii) the Class A Certificates, the Mezzanine Certificates aggregate amount of any Net Interest Shortfalls and the Class C Certificates Unpaid Interest Shortfall Amount for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable Available Funds with respect to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateLoan Group;
(xxv) the amount on deposit Net WAC Pass-Through Rate Carryover Reserve Account; andfor each Class of Certificates for such Distribution Date
(xxvi) the applicable Record aggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period;
(xxvii) the amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxviii) the total number of Mortgage Loans in the aggregate and the aggregate Stated Principal Balance for the Group [ ] Mortgage Loans (also separately stating such information for the [Adjustable Rate Mortgage Loans, the Three-Year Hybrid Mortgage Loans and the Five-Year Hybrid Mortgage Loans]) [(also stating separately such information for Negative Amortization Loans)], in each case at the close of business at the end of the related Due Period;
(xxix) with respect to the Group [ ] Mortgage Loans, the amount of any Deferred Interest and Net Deferred Interest, if any, and the amount of any Net Deferred Interest, if any, added to the Class Principal Balance of the Group [ ] Certificates; and
(xxx) [with respect to Mortgage Loans serviced by [ ], but only if such Mortgage Loans were subject to a modification of terms made during the related Due Period as part of a loss mitigation strategy, the following items:
(b) the percentage (by outstanding Principal Balance) and the number of Mortgage Loans that were modified in the related Due Period;
(c) the cumulative percentage (by Cut-Off Date Principal Balance) of modified mortgage loans;
(d) the amount of principal forgiven with respect to modified Mortgage Loans for the related Due Period;
(e) the cumulative amount of principal forgiven with respect to modified Mortgage Loans from the Closing Date;
(f) the percentage (by outstanding Principal Balance) of modified Mortgage Loans that are included in the delinquency trigger calculation for purposes of the Step Down Conditions, Accrual Period the Two Times Test, the Group [ ] Step Down Conditions and Determination Date for calculating distributions for such Distribution the Group [ ] Two Times Test;
(g) the delinquency status of the modified Mortgage Loans both pre- and post- modification;
(h) the number of times the Mortgage Loan has been subject to modification;
(i) the effective date of the modification;
(j) the number of modifications made to Mortgage Loans in the last twelve months;
(k) the percentage (by outstanding Principal Balance) of modified Mortgage Loans that are current or delinquent in payment and the delinquency status of the modified Mortgage Loans from the Closing Date. ; and
(l) the Loan Rate of the modified Mortgage Loans pre- and post- modification.] The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇[ ].▇▇▇▇▇▇▇.▇▇▇”. ” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇[ ]. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(m) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii) and warranties regarding (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder and such other customary information which a Certificateholder reasonably requests to prepare its tax returns. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(n) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Thornburg Mortgage Securities Corp)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Certificate Administrator shall prepare and make available post on its website at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ and forward by mail to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
; (xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (C Bass Mortgage Loan Asset Backed Certs Ser 2002 Cb1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)amount of Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, received under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chec Loan Trust 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B-1 Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B-1 Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset-Backed Certs Series 2004-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on information provided to the Master Servicer by the Servicer), the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A the Fixed Rate Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Fixed Rate Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A the Fixed Rate Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A the Fixed Rate Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Servicer, the Depositor and the Rating Agencies via the TrusteeTrust Administrator’s internet website. The TrusteeTrust Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeTrust Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the TrusteeTrust Administrator’s internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, on each Distribution Date, based, as applicable, on information provided to the Trustee will report Trust Administrator by the Master Servicer (which in turn shall be based, as applicable, on Form 10-D any material breaches of representations information provided to the Master Servicer by the Servicer), the Trust Administrator shall prepare and warranties make available information, separated for each Originator, regarding the performance of the Mortgage Loans Loans, including, but not limited to, information regarding delinquency, loss and prepayment experience of the Mortgage Loans.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Trustee and if applicableResidual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, material modifications, extensions or waivers the Trust Administrator shall deliver to Mortgage Loan terms, fees, penalties or payments each Person who at any time during the preceding calendar month year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that have become material over time. For all purposes of this Agreement, with respect substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Trust Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of Servicing Fees and expenses of Master Servicing Fees received by the Servicer and the Master Servicer with respect to the related Due Period and such other customary information as the Trust accrued and paid on such Distribution Date and Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;[reserved]
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.27 or the Master Servicer pursuant to Section 4.19;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred and when the Servicer Termination Test or the Fitch Servicer Termination Test has been failed;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds for such Distribution Date;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee Trust Administrator will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s Trust Administrator's internet website. The Trustee’s Trust Administrator's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s Trust Administrator's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s Trust Administrator's internet website, the Trustee Trust Administrator may require registration and the acceptance of a disclaimer. 105 The Trustee Trust Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Trustee Trust Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Trust Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall make available to the Trustee and if applicableResidual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, material modifications, extensions or waivers the Trust Administrator shall deliver to Mortgage Loan terms, fees, penalties or payments each Person who at any time during the preceding calendar month year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that have become material over time. For all purposes of this Agreement, with respect substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the Master Servicer’s Certificate, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement (the “Distribution Date Statement”) as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and separately identifying the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than allocable to interest and the Class P Certificates) allocable to interestCE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount Deficiency as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses the amount of Compensating Interest paid by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer;
(v) the aggregate amount of Monthly Advances for the related Due Period (including the general purpose of such Collection Period, unreimbursed Monthly Advances and Servicing Advances and Advances that are Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding related Collection Period;
(ix) the aggregate number of Mortgage Loans that became REO Properties during the related Collection Period and the aggregate Stated Principal Balance of such Distribution Date and Mortgage Loans (D) calculated as of the date each such Mortgage Loan became an REO PropertiesProperty);
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance aggregate Stated Principal Balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment related Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Prepayment Period, the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected or the Servicer Prepayment Charge Payment Amount paid by the Servicer with respect to each such Mortgage Loan;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance or Maximum Certificate Principal Balance of each Class of Certificates, after giving effect to the distributions, and allocations of Applied Realized Loss Amounts made on such Distribution Date, separately identifying any reduction thereof due to allocations of Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts (assuming in the Collection Account for case of a Class of Exchangeable REMIC Certificates no exchanges have occurred and in the case of a Class of Exchangeable Certificates that all exchanges have occurred), and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage Cap Carryover Amounts distributed on such Distribution Date;
(xviii) the Available Funds; the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xix) the aggregate amount of Net Liquidation Proceeds for the related Collection Period;
(xx) the Net WAC Rate Carryover Amount aggregate Stated Principal Balance of Mortgage Loans purchased by or substituted for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and by a Seller or American General Finance Corporation during the amount remaining unpaid after reimbursements therefor on such Distribution Daterelated Prepayment Period;
(xxi) the amount number and aggregate Stated Principal Balance of any Net Swap Payments or Swap Termination Payments (a) due from Mortgage Loans that were the Trust and (b) due from subject of a Principal Prepayment in full during the Swap Providerrelated Prepayment Period;
(xxii) whether the Stepdown Date or a Trigger Event is in effectamount of Subsequent Recoveries received during the related Prepayment Period;
(xxiii) with respect to Mortgage Loans that were subject to a Servicer Modification during the total cashflows received related Collection Period: (including amounts received from a) the Supplemental Interest Trust Trustee under Mortgage Loan identifying number; (b) the date of modification; (c) the Stated Principal Balance prior to and after modification; (d) the Monthly Payment prior to and after modification; (e) the forborne amount (if any); (f) the Mortgage Interest Rate Swap Agreement)prior to and after modification; (g) the maturity date prior to and after modification; and (h) the number of days Delinquent prior to modification;
(xxiv) whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the respective Pass-Through Rates applicable to each Class of Class A Certificatespreceding Distribution Date and, each Class of Mezzanine Certificates and if applicable, the Class C designations, Certificate Principal Balances, Maximum Certificate Principal Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates for or Exchangeable Certificates that were received by the Certificateholder as a result of such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;exchange; and
(xxv) if there has been a revision to the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record DateDelegated Authority Guidelines, Accrual Period and Determination Date for calculating distributions for such Distribution Datea copy thereof. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Securities Administrator may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixv) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In additionThe Securities Administrator will make the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to beneficial owners of Certificates that provide appropriate certification in the form furnished by the Securities Administrator (which may be submitted electronically via the Securities Administrator’s internet website) and other parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and (xv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee and if applicable, material modifications, extensions Class R Certificateholder upon request a copy of the reports forwarded to the Certificateholders of Certificates other than the Class R Certificate in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or waivers to Mortgage Loan terms, fees, penalties or payments during appropriate. Such obligation of the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies Securities Administrator shall be determined by deemed to have been satisfied to the Trustee from extent that substantially comparable information provided shall be prepared and furnished to the Class R Certificateholder by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American General Finance Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Dividend Account immediately prior to the related Servicer Remittance Date, the amount deposited into the Dividend Account on the related Servicer Remittance Date (separately identifying the amount received from Mortgagors and the amount advanced) and the amount withdrawn from the Dividend Account on the related Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date); and
(xxvi) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp First Frank Mort Ln Tr 2002-Ff2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 95 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction loan number of each such Mortgage Loan, the unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates and the Notional Amount of the Class S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class C Certificates and the Class C S Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account and the Reserve AccountFund; and
(xxvixxiv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the related Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet websitewebsite and its fax-on-demand service. The Trustee’s 's fax-on- demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Trustee's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2000-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicers, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Servicers and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount Stated Principal Balance of interest and scheduled principal received or advanced by the Servicer with respect to Mortgage Loans at the close of business at the end of the last Business Day of the calendar month preceding the related Due PeriodDistribution Date;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer Servicers pursuant to Section 3.263.23, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixviii) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxx) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Servicers and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇.▇▇▇▇"http:\\www-apps.gis.deutsche- b▇▇▇.▇▇▇”/▇▇▇▇. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇800- 735-7777. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Finan as Sec Cp SDVW Hm Eq Ln Tr 2001-2 as Bk Cer Ser 2001-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related 109 Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date; 110
(xx) amounts due, and the amounts received under each Cap Contract;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether when the Stepdown Date Date, a Trigger Event or a Sequential Trigger Event is in effect;
(xxiiixxii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxiii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvA) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Section 4.04(a), the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class Class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Dividend Account immediately prior to the related Servicer Remittance Date, the amount deposited into the Dividend Account on the related Servicer Remittance Date (separately identifying the amount received from Mortgagors and the amount advanced) and the amount withdrawn from the Dividend Account on the related Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date); and
(xxvixxiv) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contracts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “"w▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year
was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 03 Ff1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems 105 necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) payments, if any, made under the Delinquency PercentageCap Contract;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class P Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;3.24; 106
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) the amount Overcollateralization Target Amount, any Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);Available Funds; and
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"h▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/▇▇▇▇". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 107 Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp Finance Amer Mo Ln Tr 2003-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderServicer, the Servicer Trustee, the NIMS Insurer, if any, the indenture trustee under the Indenture, the Swap Counterparty and the Rating Agencies, Agencies a statement by electronic medium (as set forth in the penultimate paragraph of this Section 4.03(a))(the “Monthly Statement”), based on information provided to the Securities Administrator by the Servicer or the Swap Counterparty, as to the distributions made on such Distribution Date (the “Monthly Statement”):or Swap Payment Date, as applicable:
(i) the Record Dates, the Accrual Period, the Determination Date and the Distribution Date;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(iiiii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) ), allocable to interestinterest and the Pass-Through Rates, separately identified;
(iiiiv) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(ivv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidreserved;
(vvi) the Interest Remittance Amount and the Principal Remittance Amount for such Distribution Date;
(vii) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of Nonrecoverable Advances for such Advances)Distribution Date;
(viviii) the number and aggregate amount Stated Principal Balance of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Mortgage Loans at the Close of Business at the end of the related Due Period and at the beginning of the related Due Period;
(viiiix) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixx) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and (3) 90 or more days, (Bc) delinquent 90-119 days, (d) 120 or more days in each case, as of the last day of the preceding calendar month; provided, however, that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (e) as to which foreclosure proceedings have been commenced and Delinquent (1f) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentageforce;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Junior Subordinate Certificates for such Distribution Date;
(xviii) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer or Master Servicer pursuant to Section 3.26the Servicing Agreement, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the related Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Junior Subordinate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from Master Servicer Fee, the Trust Servicer Fee and (b) due from the Swap ProviderProgram Administrator Fee on such Distribution Date;
(xxii) whether the a Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates, the Junior Subordinate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Junior Subordinate Certificates for the immediately succeeding Distribution Date;
(xxv) Reserved;
(xxvi) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvii) the amount on deposit Net WAC Rate Carryover in the Reserve AccountFund;
(xxviii) Reserved;
(xxix) Reserved;
(xxx) the amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate; and
(xxvixxxi) the applicable Record Swap Payment, the Counterparty Payment, the Net Swap Payment and the Net Counterparty Payment for the related Swap Payment Date; the Swap Termination Payment and the Swap Termination Payment remaining unpaid from prior Swap Payment Dates, and in each case whether payable by the Trust Fund or by the Swap Counterparty; and any Counterparty Payments unpaid from prior Swap Payment Dates. For purposes of preparing the Monthly Statement, delinquencies shall be determined and reported by the Securities Administrator based on the so-called “OTS” methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be delinquent with respect to a Scheduled Payment or Swap Termination Payment due on a Due Date if such payment is not made by the close of business on the Mortgage Loan’s next succeeding Due Date, Accrual Period and Determination Date for calculating distributions for a Mortgage Loan would be more than 30-days delinquent with respect to such Distribution Scheduled Payment if such Scheduled Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Trustee will Securities Administrator shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Trustee, the Servicer, the NIMS Insurer, if any, the Swap Provider Counterparty and the Rating Agencies via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) -▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements state ments are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available post on its website at www.etrustee.net and forward by mail to each Holder of the Regular CertificatesCert▇▇▇▇▇▇▇▇, the Swap Provider, the Servicer and the Rating Agencies, a statement ▇ ▇▇▇▇ement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal or reduction of Notional Amount, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date, separately identifying the portions thereof attributable to Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or Seller during the Interest Rate Swap Agreement);related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Servicer (or an affiliate) during the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual related Collection Period and Determination Date for calculating distributions for such Distribution Datein connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2002-Sb1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Offered Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Offered Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related); and
(xxv) the amount on deposit Net WAC Rate Carryover in the Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateFund. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Tr 2002-1 as-BCKD Cert Ser 2002-1)
Statements. (a) On each Distribution Date, based, as applicable, on loan-level information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderSeller, the Master Servicer and the Rating AgenciesAgency, a statement (the "DISTRIBUTION DATE STATEMENT") as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Pro Rata Senior Percentage, the Overcollateralized AmountSenior Percentage, the Overcollateralization Release AmountSenior Prepayment Percentage, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to each Loan Group, the related group balance Pool Balance and Net WAC for all Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal BalanceBalance of the Six-Month CMT Indexed, One-Year CMT Indexed and Five-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the aggregate Principal Balance of the Six-Month LIBOR Indexed, One-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) the amount of the Master Servicing Fees and Servicing Fees, if any;
(xi) the number, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment PeriodDate, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and (other than the Class C Certificates, before and LTA-R Certificate) after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date, to the extent not covered by payments by the Servicer Servicers pursuant to Section 3.26the applicable terms of their respective Servicing Agreements or the Master Servicer;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateAvailable Funds;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) any amounts distributed to the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;Class LTA-R Certificates; and
(xxii) whether the Stepdown Date aggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the related Servicing Agreement, or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from Section of this Agreement, as applicable, requiring or allowing the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to purchase of each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateMortgage Loan. The Trustee will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the Trustee’s 's internet websitewebsite and its fax-on-demand service and will forward the Distribution Date Statement to the Rating Agency. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇://▇▇▇-▇▇▇▇.▇▇▇.▇▇▇▇▇▇▇▇- ▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-/▇▇▇▇". Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchrequesting same. The Trustee shall have the right to change the way such statements Distribution Date Statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all the above parties regarding any such changes. As a condition The Trustee's obligations pursuant to access this Section 4.04 are limited to the Trustee’s internet website, extent of its receipt of all necessary information from the Trustee may require registration and the acceptance of a disclaimerMaster Servicer. The Trustee will not be liable for the dissemination of information in accordance may fully rely upon and shall have no liability with this Agreement. The Trustee shall also be entitled respect to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and warranties regarding (xxi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and if applicable, material modifications, extensions or waivers shall supply an electronic tape to Mortgage Loan termsInformation Corporation in a format acceptable to Mortgage Information Corporation on a monthly basis. On each Distribution Date, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, Master Servicer shall provide the Trustee the following information with respect to any each Mortgage Loan, delinquencies shall be determined by Loan (the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to "REMITTANCE REPORT"):
(i) the Mortgage Loans. By way Loan identifying number;
(ii) [reserved];
(iii) the current Loan Rate as of example, a Mortgage Loan would be Delinquent with respect to a the end of the related Due Period;
(iv) the related Servicing Fee Rate;
(v) the current Monthly Payment due on a as of the end of the related Due Period;
(vi) the next scheduled Due Date as of the end of the related Due Period;
(vii) the next Adjustment Date of the Mortgage Loan as of the end of the related Due Period, if such Monthly Payment is not made by applicable;
(viii) the close Stated Principal Balance of business the Mortgage Loan immediately prior to the related Due Period;
(ix) the Stated Principal Balance of the Mortgage Loan as of the end of the related Due Period;
(x) [reserved];
(xi) the aggregate of all interest received on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by including Advances;
(xii) [reserved];
(xiii) the close aggregate of business all scheduled principal payments received on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants Loans, including Advances;
(xiv) Principal Prepayments in part;
(xv) Principal Prepayments in full;
(xvi) the delinquency status of the Mortgage Loan (i.e., 0, 30, 60, 90+ days Delinquent);
(xvii) [reserved];
(xviii) an indication as to whether the Depositor that it Mortgage Loan is not subject in foreclosure;
(xix) an indication as to any delinquency recognition policy established whether the related Mortgaged Property has become an REO Property;
(xx) the date of bankruptcy of the Mortgagor, if any;
(xxi) the date of foreclosure, if any;
(xxii) the date on which the related Mortgaged Property became an REO Property;
(xxiii) for each Mortgage Loan for which a Liquidation Event has occurred, whether such Mortgage Loan (i) has been paid in full, (ii) is a Liquidated Mortgage Loan or (iii) has been repurchased or replaced;
(xxiv) [reserved];
(xxv) the Stated Principal Balance of the Mortgage Loan on the date on which a Liquidation Event occurs;
(xxvi) Liquidation Proceeds;
(xxvii) Net Liquidation Proceeds;
(xxviii) Realized Losses;
(xxix) Net Prepayment Interest Shortfalls;
(xxx) Relief Act Reductions;
(xxxi) the aggregate of all scheduled interest received on the Mortgage Loans, excluding Advances;
(xxxii) the aggregate of all scheduled principal received on the Mortgage Loans, excluding Advances;
(xxxiii) the current amount of Advances outstanding;
(xxxiv) the amount advanced by its safety and soundness regulators.the related Servicer;
(xxxv) the amount of principal advanced by the related Servicer; and
(xxxvi) the amount of interest advanced by the related Servicer
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Mort Loan Pas THR Certs Ser 01 2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Sections 3.19 and 4.04, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period, the cumulative amount of Realized Losses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, each Class of Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates, the Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, each Class of Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates and the Class B Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistributions occurring on the Distribution Dates in the month following the end of the Funding Period, Accrual Period the balance on deposit in each of the Pre-Funding Accounts (exclusive of any investment income therein) not used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇."▇▇▇▇▇://▇▇▇.▇▇▇”.▇▇.▇▇▇/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and 112 Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the Funding Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and 113 the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Adjustable-Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Adjustable-Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxiii) payments, if any, made under the Cap Contract;
(xxiv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts and the Interest Coverage Accounts; and
(xxvixxv) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇."▇▇▇▇▇://▇▇▇.▇▇▇”.▇▇.▇▇▇/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh4)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.usbank.com/abs, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Di▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and the Loan Group Balance for each Loan Group at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to separately stated for each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) separately stated for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) separately stated for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) separately stated for each Loan Group, the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Offered Certificates and the Collection Account Class B-4 Certificates for such Distribution Date, separately identifying the portions thereof attributable to LIBOR Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) [Reserved];
(xviii) [Reserved];
(xix) the Senior Credit Enhancement Percentage for such Distribution Dateamount of the Trustee Fee paid;
(xx) the Net WAC Rate LIBOR Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for Amounts distributed on such Distribution Date and the portion thereof constituting LIBOR Carryover Amounts, the amount of all LIBOR Carryover Amounts covered by withdrawals from the Reserve Account and the amounts remaining unpaid after reimbursements therefor giving effect to distributions thereof on such Distribution Date;
(xxi) any Overcollateralization Deficiency after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event has occurred and is in effectcontinuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to rate at which interest accrues for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andLiquidation Report for such Distribution Date;
(xxvi) the applicable Record Date, Accrual aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and Determination Date for calculating distributions for indicating the Section of this Agreement requiring or allowing the purchase of each such Distribution Date. The Trustee will make such statement Mortgage Loan; and
(and, at its option, any additional files containing xxvii) the same information aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇connection with Section 3.16. Parties that are unable to use the above distribution option usbank.com/abs are entitled to have a paper copy mailed to them via first class mail fir▇▇ ▇▇▇▇▇ ▇▇▇▇ by calling the customer service desk Trustee at (800) 934-6802 and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports made available to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Asset Backed Funding Corp C Bass Mor Ln as Bk Ce Se 2004 Cb1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trustee by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date;
(xxiv) the amount of income and gain realized from the investment of funds deposited in the Distribution Account during the Float Period for such Distribution Date;
(xxv) to the extent provided by the Servicer (A) the amount of payments received from the Servicer related to claims under each PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under each PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); and
(xxvi) to the extent provided by the Servicer (A) the dollar amount of claims made under each PMI Policy that were denied (as identified by the Servicer) during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under each PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related). The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Floating Rate Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Credit Enhancement Percentage and the Senior Mezzanine Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it the Trustee by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderCredit Risk Manager, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period, which will include the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the aggregate amount of Realized Losses incurred since the Closing Date, which will include the cumulative amount of Realized LossesSubsequent Recoveries received since the Closing Date;
(xvxii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Offered Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixiv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine the Offered Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Offered Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xixxvi) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Offered Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred, the Delinquency Percentage for such Distribution Date and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement, from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine the Offered Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Offered Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Offered Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve Account; andSwap Payments or Swap Termination Payments paid to the Swap Provider;
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date; and
(xxiv) the amount of income and gain realized from the investment of funds deposited in the Distribution Account during the Float Period for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which 107 foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003-4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Credit Risk Manager, the Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage, the Cumulative Loss Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Floating Rate Certificates, each class of Mezzanine the Class X Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A of Floating Rate Certificates, the Mezzanine Class X Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Floating Rate Certificates, each the Class of Mezzanine X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Floating Rate Certificates and each class of Mezzanine Class X Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount of any Net Swap Payments or Swap Termination Payments paid to the Swap Provider;
(xxiii) the amount on deposit Net WAC Rate Carryover Reserve in the Interest Coverage Account; and
(xxvixxiv) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt4)
Statements. (ai) On Not later than each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderMaster Servicer, the Servicer Swap Provider and the Rating Agencies, Depositor a statement as to setting forth for the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;Certificates:
(ii) the amount of the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identifieddates;
(iii) Net Monthly Excess Cashflowwith respect to each Loan Group, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount total cash flows received and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Dategeneral sources thereof;
(iv) any the amount, if any, of fees or expenses accrued and expenses paid, with an identification of the Trust accrued payee and paid on such Distribution Date and to whom the general purpose of such fees and expenses were paidincluding the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period;
(v) with respect to each Loan Group, the aggregate amount of Advances for any Net Swap Payment payable to the trust with respect to the related Due Period (including Loan Group, any related Net Swap Payment payable to the general purpose of such Advances)related Swap Provider, any Swap Termination Payment payable to the trust with respect to the related Loan Group and any Swap Termination Payment payable to the Swap Provider;
(vi) with respect to each Loan Group, the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of interest any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and scheduled principal received or advanced by (C) the Servicer with respect to the related Due PeriodExtra Principal Distribution Amount (if any);
(vii) with respect to each Loan Group, the related group balance at amount of such distribution to Holders of each Class allocable to interest and the Close of Business at the end of portion thereof, if any, provided by the related Due PeriodInterest Rate Swap Agreement and the related Yield Maintenance Agreement and the amount of coverage remaining under either credit enhancement with respect to each Loan Group;
(viii) with respect to each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity Interest Carry Forward Amounts and weighted average Mortgage Rate any Basis Risk Shortfall Carry Forward Amounts for each Class of the Mortgage Loans as of the related Determination DateCertificates (if any);
(ix) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net Rate Cap;
(x) with respect to each Loan Group, the number and the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Distribution Date, together with updated pool composition information;
(xi) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class before and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(xii) the number and aggregate unpaid principal balance Stated Principal Balance of the Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Propertiesbankruptcy) (1) 30 to 59 daysdays Delinquent, (2) 60 to 89 days Delinquent and (3) 90 days or more daysDelinquent, (B) as to which in foreclosure proceedings have been commenced and Delinquent delinquent (1) 30 to 59 daysdays Delinquent, (2) 60 to 89 days Delinquent and (3) 90 days or more days, Delinquent and (C) in bankruptcy and Delinquent delinquent (1) 30 to 59 daysdays Delinquent, (2) 60 to 89 days Delinquent and (3) 90 days or more daysDelinquent, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (D1) REO Propertiesfirst lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xxiii) with respect to each Loan Group, the Delinquency Percentageamount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xixiv) with respect to each Loan Group, the total aggregate amount of Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements;
(xv) with respect to each Loan Group, the cumulative amount of Applied Realized Loss Amounts through the end of the preceding month;
(xvi) with respect to each Loan Group and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xvii) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and cumulative principal balance Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of all Liquidated the close of business on the Determination Date preceding such Distribution Date;
(xviii) with respect to each Loan Group, the aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loans as of the Close end of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxix) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the end of the related Prepayment Period;
(xx) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in such Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans;
(xxi) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount Realized Losses through the end of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerpreceding month;
(xxii) with respect to each Loan Group, information on loss, delinquency or other tests used for determining early amortization, liquidation, stepdowns or other performance triggers as more completely described in the prospectus supplement and whether the Stepdown Date or a Trigger Event is in effecttrigger was met;
(xxiii) with respect to each Loan Group, the total cashflows received (including amounts received from amount of the Supplemental Interest Trust Trustee under Prepayment Charges remitted by the Interest Rate Swap Agreement)Master Servicer and the amount on deposit in the Reserve Fund;
(xxiv) updated pool composition data including the respective Pass-Through Rates applicable following with respect to each Class Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at originationweighted average remaining term; [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable what to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;provide]
(xxv) with respect to each Loan Group, information regarding any new issuance of securities backed by the amount on deposit Net WAC Rate Carryover Reserve Accountsame asset pool, any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Fund, if applicable;
(xxvi) any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund;
(xxvii) with respect to each Loan Group, material breaches of Mortgage Loan representations or warranties or transaction covenants; and
(xxvixxviii) the special hazard amount, fraud loss amount and bankruptcy amount, if applicable, as of the close of business on the applicable Record Datedistribution date and a description of any change in the calculation of these amounts.
(xxix) The Depositor agrees that there will be no material changes in the solicitation, Accrual Period credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund and Determination Date (xxv) above may be omitted. The Depositor agrees with the Trustee that there will be no new issuance of securities backed by the same asset pool, so the Trustee will only be responsible in (xxiv) above for calculating distributions for reporting any pool asset changes, such Distribution Dateas additions or removals of Mortgage Loans from the Trust Fund. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇."▇▇▇▇▇://▇▇▇.▇▇▇”.▇▇.▇▇▇/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Statements. (a) On each Distribution Date, the Trustee shall make available to each Certificateholder, the Seller and the Rating Agency, a statement based, as applicable, on loan-level information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, obtained from the Servicer and (the Rating Agencies, a statement “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the amount of servicing compensation received by the Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the COFI Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) for each Loan Group, the aggregate Principal Balance of the MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.month;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available by electronic medium 110 to each Holder of the Regular Certificates, the Swap ProviderMaster Servicer, the Servicer Guarantor, the NIMS Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the Deficiency Amount, the Guarantor Payments and the Guarantor Reimbursement Amount for such Distribution Date;
(vi) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance aggregate Stated Principal Balance of the Mortgage Loans at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Perioda) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to delinquent 30-59 days, (2b) 60 to delinquent 60-89 days and days, (3c) delinquent 90 or more daysdays in each case, as of the last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1e) 30 with respect to 59 dayswhich the related Mortgagor has filed for protection under applicable bankruptcy laws, (2) 60 with respect to 89 days and (3) 90 whom bankruptcy proceedings are pending or more days, (C) with respect to whom bankruptcy protection is in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesforce;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before after giving effect to the distributions made on such Distribution Date, and the Notional Amount of the Class S Certificates and the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Class S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Class S Certificates and the Class C Mezzanine Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of the Class A A-1V Certificates, Class A-2 Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider[reserved];
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxii) the Available Funds;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each the Class of S Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;; and
(xxiv) the Guarantee Fee to be paid to the Guarantor with respect to the Guaranteed Certificates for such Distribution Date.
(xxv) such other information as the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) Guarantor may reasonably request in such format as reasonably requested by the applicable Record Date, Accrual Period Guarantor and Determination Date for calculating distributions for such Distribution Dateany other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS InsurerMaster Servicer, the Swap Provider Guarantor, the NIMS Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"http:\\▇▇▇-▇▇▇▇.▇▇▇.▇▇▇▇▇▇▇▇-▇▇▇▇.▇▇▇”/▇▇▇▇. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇-▇▇▇) -▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section Section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsBloomberg.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Back Cert Ser 2001-2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions t▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(e) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the applicable Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount Pass-Through Rate for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for NIMS Insurer or the immediately succeeding Distribution DateDepositor during the related Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Penalty that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Penalty listed on each related Mortgage Note and Determination Date for calculating distributions the Prepayment Penalty collected, the Servicer Prepayment Penalty Payment Amount paid by the Servicer or the Originator Prepayment Penalty Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the amount of any Yield Maintenance Agreement Payments for such Distribution Date. The Trustee will make such statement ; and
(and, at its option, any additional files containing xxviii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”related Prepayment Period. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (▇▇▇301) ▇▇▇815-6600. The Securities Administrator shall provide such infor▇▇▇▇. Parties ▇▇ ▇▇ ▇▇▇▇ies that are unable to use the above distribution option are entitled to have a paper copy mailed by mailing to them via first class mail a paper copy of the Distribution Date Statement, upon request of any such party made by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Class R Certificateholder by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvii) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period and Determination Date for calculating distributions for such Distribution Datethe amount of any claims previously paid that are reimbursed to the Insurer (net of the aggregate amount of Premium paid to the Insurer hereunder) pursuant to Section 3.01; and
(xxviii) the amount of Subsequent Recoveries received during the related Prepayment Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related); 109
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time. 110
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mort Acceptance Corp Asset Back Cert Ser 2003 2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇, a statement as to the distributions made on such Distribution Date (the a “Monthly Statement”):
(i) the date of such Distribution Date and the Determination Date and LIBOR Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Interest Accrual Period;
(iii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(iiiv) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iiiv) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(ivvi) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(vvii) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Collection Period;
(viii) the Pool Balance at the close of business at the end of the related Collection Period;
(ix) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixx) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency PercentageDate;
(xi) with respect to any Mortgage Loan that became an REO Property during the total preceding calendar month, the loan number and cumulative of such Mortgage Loan, the unpaid principal balance and the Principal Balance of all Liquidated such Mortgage Loans Loan as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zerodate it became an REO Property;
(xii) the book value of any REO Property as of the close of business on the last Business Day of the calendar month preceding the Distribution Date, and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Prepayment Penalties collected (including amounts deposited in connection with the full or partial waiver of such Prepayment Penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class P Certificates;
(xv) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xvii) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates Fixed-Rate and the Class C Floating Rate Certificates for such Distribution Date Date, separately identifying the portions thereof attributable to Cap Carryover Amounts, and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Datenumber, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the last day of the related Collection Period;
(xx) the amount of any Cap Payment, Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesSwap Payments, if anyNet Swap Receipts, Swap Termination Payments or Defaulted Swap Termination Payments, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee paid;
(xxii) whether the Stepdown Cap Carryover Amounts distributed on such Distribution Date or a Trigger Event is in effectand the portion thereof constituting Cap Carryover Amounts, the amount of all Cap Carryover Amounts covered by withdrawals from the Cap Carryover Reserve Account and the Swap Account and the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xxiii) any Overcollateralization Deficiency after giving effect to the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)distribution of principal on such Distribution Date;
(xxiv) whether a Trigger Event has occurred and is continuing (including the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates calculation thereof and the Class C Certificates for such Distribution Date aggregate outstanding balance of all 60+ Day Delinquent Mortgage Loans) and the Pass-Through Rate applicable to each Class cumulative Realized Losses, as a percentage of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Dateoriginal Pool Balance;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andInterest Remittance Amount and the Principal Remittance Amount;
(xxvi) the applicable Record Date, Accrual Period and Determination Date rate at which interest accrues for calculating distributions each Class of Certificates for such Distribution Date;
(xxvii) [Reserved];
(xxviii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxix) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16;
(xxx) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxxi) whether a 40-Year Trigger Event has occurred and is continuing;
(xxxii) material breaches of Mortgage Loan representations and warranties of which the Trustee or Servicer has knowledge or has received written notice; and
(xxxiii) material breaches of any covenants under this Agreement of which the Trustee or Servicer has knowledge or has received written notice. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month Parties that are unable to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wuse ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option ▇ are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk Trustee’s transaction manager at (▇▇▇) ▇▇▇-▇▇▇▇ and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (iiii) through (iiiv) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder (other than the Residual Certificateholders), if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii), (iv), (xvii) and (xxii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of representations and warranties regarding the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports made available to the Certificateholders pursuant to Section 4.06(b) in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (C-Bass 2007-Cb5 Trust)
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Seller, the Master Servicer and the Rating Agency, a statement based, as applicable, on loan-level information provided to it by obtained from the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement Servicers (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed, Six-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [reserved]
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to and the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the related Servicing Agreement, or Swap Termination Payments (a) due from the Trust and (b) due from Section of this Agreement, as applicable, requiring or allowing the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) the total cashflows received amount of any unpaid Basis Risk Shortfall or Unpaid Basis Risk Shortfall (including amounts received from if applicable) and the Supplemental Interest Trust Trustee under related accrued interest thereon, with respect to the Interest Rate Swap Agreement)Class 1-A Certificates;
(xxiv) the respective Pass-Through Rates applicable current Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Loan Group; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Datecumulative Recoveries allocable to each Loan Group. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and warranties regarding (xxi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(c) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Accep Mort Loan Pass-THR Certs Ser 2004-1)
Statements. (a) On Concurrently with each Distribution Datedistribution to Certificateholders, basedthe Securities Administrator shall make available to each Certificateholder, as applicablethe Seller, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer and the Servicers (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. The Distribution Date (Statement shall include the “Monthly Statement”):following:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by each Servicer during the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidrelated Due Period;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such Advances)unreimbursed Advances as reported by each Servicer;
(vi) the aggregate amount of interest Loan Group Balance and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(vii) [reserved].
(viii) the number, aggregate Principal BalanceBalance of the One-Month LIBOR Indexed, Six-Month LIBOR Indexed, One-Year LIBOR Indexed and One-Year MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the amount of the Master Servicer Fees paid to or retained by the Master Servicer;
(x) the aggregate amount of Servicing Fees paid to or retained by the Servicers;
(xi) to the extent that such amounts are paid out of the Distribution Account, the amount of fees, expenses or indemnification amounts paid by the Trust with an identification of the general purpose of such amounts and the party receiving such amounts;
(xii) for each Loan Group, the number, weighted average remaining term to maturity maturity, weighted average life and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxiii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of Loans, in the end of the related Prepayment Period) that were (as determined aggregate and for each Loan Group, using the OTS method) “MBA” method (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the Close close of Business business on the last day of the preceding calendar month preceding such Distribution Date and (D) REO Propertiesmonth;
(xxiv) the Delinquency Percentagerolling six-month delinquency rate for that Distribution Date;
(xixv) the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixvi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xivxvii) the aggregate amount of Realized Losses for each Loan Group and Recoveries incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount Losses and Recoveries as of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate cumulative amount of any Prepayment Interest Shortfalls Realized Losses for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26each Loan Group;
(xix) the Senior Credit Enhancement Percentage for such Realized Losses and Recoveries, if any, allocated to each Class of Certificates on the related Distribution Date;
(xx) the Net WAC Rate Carryover Amount for Class Certificate Principal Balance of each class Class of Class A Certificates and each class the Apportioned Principal Balances of Mezzanine Certificatesthe Subordinate Certificates after giving effect to any distributions made thereon, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount Interest Distributable Amount in respect of any Net Swap Payments or Swap Termination Payments (a) due from each Class of Certificates, for such Distribution Date and the Trust and (b) due from respective portions thereof, if any, remaining unpaid following the Swap Providerdistributions made in respect of such Certificates on such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is in effectaggregate amount of any Net Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds with respect to each Loan Group;
(xxiv) the respective Pass-Through Rates applicable to Rate for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andaggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period;
(xxvi) the applicable Record amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxvii) the total number of Mortgage Loans in the aggregate and the aggregate Stated Principal Balance for the Group 1 Mortgage Loans (also separately stating such information for the Adjustable Rate Mortgage Loans, the Three-Year Hybrid Mortgage Loans and the Five-Year Hybrid Mortgage Loans), the Group 2 Mortgage Loans, the Group 3 Mortgage Loans and Group 4 Mortgage Loans, in each case at the close of business at the end of the related Due Period; and
(xxviii) with respect to the Mortgage Loans, but only if such Mortgage Loans were subject to a modification of terms made during the related Due Period as part of a loss mitigation strategy, the following items:
(a) the percentage (by outstanding Principal Balance) and the number of Mortgage Loans that were modified in the related Due Period;
(b) the cumulative percentage (by Cut-Off Date Principal Balance) of modified mortgage loans;
(c) the amount of principal and interest forgiven with respect to modified Mortgage Loans for the related Due Period;
(d) the cumulative amount of principal and interest forgiven with respect to modified Mortgage Loans from the Closing Date, Accrual Period ;
(e) the percentage (by outstanding Principal Balance) of modified Mortgage Loans that are included in the delinquency trigger calculation for purposes of the Step Down Conditions and Determination Date for calculating distributions for such Distribution the Two Times Test;
(f) the delinquency status of the modified Mortgage Loans both pre- and post- modification;
(g) the number of times the Mortgage Loan has been subject to modification;
(h) the effective date of the modification;
(i) the number of modifications made to Mortgage Loans in the last twelve months;
(j) the percentage (by outstanding Principal Balance) of modified Mortgage Loans that are current or delinquent in payment and the delinquency status of the modified Mortgage Loans from the Closing Date; and
(k) the Loan Rate of the modified Mortgage Loans pre- and post- modification. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(l) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii) and warranties regarding (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder and such other customary information which a Certificateholder reasonably requests to prepare its tax returns. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(m) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2008-1)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at http://www.usbank.com/abs, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount or reduction of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsNotional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance and the Loan Group Balance for each Loan Group at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to separately stated for each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) separately stated for each Loan Group, the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) separately stated for each Loan Group, with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) separately stated for each Loan Group, the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected (including amounts deposited in connection with the full or partial waiver of such prepayment penalties pursuant to Section 3.01) during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount Accrued Certificate Interest in respect of extraordinary Trust Fund expenses withdrawn from each Class of Fixed-Rate and Floating Rate Certificates for such Distribution Date, separately identifying the Collection Account for portions thereof attributable to Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvii) [Reserved];
(xviii) [Reserved];
(xix) the Senior Credit Enhancement Percentage for such Distribution Dateamount of the Trustee Fee paid;
(xx) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for Amounts distributed on such Distribution Date and the portion thereof constituting Cap Carryover Amounts, the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Accounts and the amounts remaining unpaid after reimbursements therefor giving effect to distributions thereof on such Distribution Date;
(xxi) any Overcollateralization Deficiency after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event has occurred and is in effectcontinuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to rate at which interest accrues for each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andLiquidation Report for such Distribution Date;
(xxvi) the applicable Record Date, Accrual aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and Determination Date for calculating distributions for indicating the Section of this Agreement requiring or allowing the purchase of each such Distribution Date. The Trustee will make such statement Mortgage Loan;
(xxvii) the aggregate Principal Balance of the Mortgage Loans repurchased by the Servicer (or an affiliate) during the related Collection Period in connection with Section 3.16; and, at its option, any additional files containing
(xxviii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇related Prepayment Period. Parties that are unable to use the above distribution option http://www.usbank.com/abs are entitled to have a paper copy mailed to them via first class mail t▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ by calling the customer service desk Trustee at (651) 495-3847 and indicating such. The Trustee shall have the right to change the way ▇▇▇▇▇▇ ▇▇▇ ▇▇y such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the The Trustee may require registration fully rely upon and shall have no liability with respect to information with respect to the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports made available to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Residual Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderProvider and the NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and principal, the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment AmountsAmounts and the Certificate Principal Balances of the Regular Certificates before and after any distributions of principal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as in respect of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) which (1) 30 to 59 daysone Monthly Payment is Delinquent, (2) 60 to 89 days and two Monthly Payments are Delinquent, (3) 90 or more days, three Monthly Payments are Delinquent and (B4) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Propertiesbegun;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixxi) whether if the Stepdown Date or a Trigger Event is in effecteffect (and if not, the months remaining until the Stepdown Date);
(a) the Delinquency Percentage, the numerator and the denominator used to calculate the Delinquency Percentage and whether the Delinquency Percentage exceeds the level set forth in clause (a) of the definition of Trigger Event, (b) the Cumulative Realized Loss Percentage, the numerator and the denominator used to calculate the Cumulative Realized Loss Percentage and whether the Cumultaive Realized Loss Percentage exceeds the level set forth in clause (b) of the definition of Trigger Event;
(xxiii) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date (and whether such Pass-Through Rate was limited by the Net WAC Rate) and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvi) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xxvii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date;
(xxviii) the fees and expenses accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(xxix) material breaches of representations and warranties regarding the Mortgage Loans. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”"www.ctslink.com". Assistance in using the website can be obtained by calling the Trustee’s ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇stee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each [$1,000 ________________] original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer Credit Risk Manager, the Servicer, the Certificate Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) (A) the amount of payments received related to claims under the Pool Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the Pool Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(xxvi) (A) the dollar amount of claims made under the Pool Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the Pool Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvii) the amount on deposit Net WAC Rate Carryover Reserve Account; and;
(xxvixxviii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date;
(xxix) the amount of any payments/draws under the Policy; and
(xxx) the amount of any Reimbursement Amounts paid and any outstanding Reimbursement Amounts. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Certificate Insurer, the NIMS Insurer, the Swap Provider Provider, the Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loansmethodology. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close Close of business Business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close Close of business Business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer Credit Risk Manager, the Servicer, the Swap Provider and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount and the Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close any REO Properties as of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those not including a Liquidated Mortgage Loans that are liquidated Loan as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) using the OTS Method (as described below) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage, the Cumulative Loss Percentage and the Realized Loss Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and which will include the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Floating Rate Certificates, each class of Mezzanine the Class X Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A of Floating Rate Certificates, the Mezzanine Class X Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixix) the total cashflows received and the general sources thereof (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement and from the Cap Trustee under the Interest Rate Cap Agreement and under the Basis Risk Cap Agreement);
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Floating Rate Certificates, each the Class of Mezzanine X Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Floating Rate Certificates and each class of Mezzanine Class X Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Basis Risk Cap Agreement and the Interest Rate Cap Agreement and the amount distributed to the Floating Rate Certificates from such payments;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments paid to the Swap Provider; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date any other applicable determination dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.www.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇866-846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's ’s next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due DateDate (the “OTS Method”). The Servicer hereby represents and warrants to the Depositor that it this delinquency recognition policy is not subject to less restrictive than any delinquency recognition policy established by its the primary safety and soundness regulatorsregulator, if any, of the Servicer.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date, the Trustee shall make available an updated electronic loan-level data tape to Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions in a format acceptable to each of Bloomberg Financial Markets, Inc., Loan Performance and Intex Solutions, and shall supply such electronic loan-level data tape to each Certificateholder who requests such information.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt5)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and 109 Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effect;
(xxiiixxii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxiii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxiv) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxvi) the amount on deposit in the Pre-Funding Accounts and the Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Group I Pre-Funding Account and/or the Group II Pre-Funding Account that has not been used to purchase Subsequent Group I Mortgage Loans and/or Subsequent Group II Mortgage Loans, as applicable, and Determination Date for calculating distributions for that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"www.ctslink.com". Assistance in us▇▇.▇ ▇▇▇ ▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website ▇ can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Acceptance Loan Trust 2004-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine the Offered Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine the Offered Certificates for the immediately succeeding Distribution Date;; and
(xxvxxiii) the amount on deposit in the Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Accept Corp Asset Backed Cer Ser 2002-4)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderProvider and the NIMS Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Master Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiixi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxiii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxviii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxix) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixx) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixxi) whether when the Stepdown Date or a Trigger Event is in effect;
(xxiiixxii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxiii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiv) [reserved];
(xxv) [reserved];
(xxvi) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxvii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date[reserved]. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiii) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xiv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) For each Distribution Date, through and including the Distribution Date in December 2007, the Trustee shall calculate the Significance Percentage of the Interest Rate Swap Agreement. If on any such Distribution Date, the Significance Percentage is equal to or greater than 9%, the Trustee shall promptly notify the Depositor and the Depositor, on behalf of the Trustee, shall obtain the financial information required to be delivered by the Swap Provider pursuant to the terms of the Interest Rate Swap Agreement. If, on any succeeding Distribution Date through and including the Distribution Date in December 2007, the Significance Percentage is equal to or greater than 10%, the Trustee shall promptly notify the Depositor and the Depositor shall, within 5 Business Days of such Distribution Date, deliver to the Trustee the financial information provided to it by the Swap Provider for inclusion in the Form 10-D relating to such Distribution Date. If on any Distribution Date after December 2007, the Significance Percentage is greater than 10%, the Trustee shall include the Significance Percentage on the statement to Certificateholders for the related Distribution Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the ServicerServicer pursuant to Section 4.04(a), the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (which shall include the “Monthly Statement”):following information:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount (if any) and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount (if any) for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate Stated Principal Balance of all Subsequent Mortgage Loans added during the related Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[Reserved];
(xix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class Class of Mezzanine Certificates for the immediately succeeding Distribution Date; 112
(xxiii) the amount on deposit in the Dividend Account immediately prior to the related Servicer Remittance Date, the amount deposited into the Dividend Account on the related Servicer Remittance Date (separately identifying the amount received from Mortgagors and the amount advanced) and the amount withdrawn from the Dividend Account on the related Servicer Remittance Date (separately identifying the amount refunded to Mortgagors and the amount distributed to the holder of the Dividend Account Certificate on such Distribution Date);
(xxiv) payments, if any, made under the Cap Contract;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountin the Pre-Funding Accounts; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition, the Trustee will report on Form 10-D any material breaches of representations and warranties regarding the Mortgage Loans to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulators.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Back Certs Ser 2003 Ffh2)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at w▇▇.▇▇▇▇▇▇▇.▇▇▇, a statement (the “Distribution Date Statement”) as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and maturity, the weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination DateDue Date and number and aggregate Principal Balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Principal Balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xvi) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Cap Carryover Reserve Account;
(xvii) for the distribution occurring on the Distribution Date immediately following the end of the Funding Period, the balance on deposit in the Group 1 Pre-Funding Account and/or the Group 2 Pre-Funding Account that has not been used to purchase Subsequent Group 1 Mortgage Loans and/or Subsequent Group 2 Mortgage Loans, as applicable, and that is being distributed to the related Class A Certificates as a mandatory distribution of principal, if any, on such Distribution Date.
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixxiii) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer, the Originator or the Seller during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the amount of the Credit Risk Manager Fee paid;
(xxv) the Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Charge listed on each related Mortgage Note and the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Mortgage Loan;
(xxvi) the amount of Subsequent Recoveries received during the related Prepayment Period;
(xxvii) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement);
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DatePayments. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to each Residual Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to a Residual Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) the Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount Amount, the Class M-1 Credit Enhancement Percentage and the Senior Credit Enhancement Percentage as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any the fees and expenses of the Trust Fund accrued and paid on such Distribution Date and to whom such fees and expenses were paid;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances);
(vi) the aggregate amount Principal Balance of interest the Mortgage Loans and scheduled principal received or advanced by any REO Properties as of the Servicer with respect to end of the related relted Due Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(x) the Delinquency Percentage;
(xiix) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the calendar month preceding Prepayment Periodthe related Distribution Date;
(xiiix) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxi) the Delinquency Percentage;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or the Distribution Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions distributions, and allocations of Realized Losses, made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates, Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, the Mezzanine Certificates, Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.24;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxvii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, Class B Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxiixviii) whether the Stepdown Date or a Trigger Event is in effecthas occurred and the Realized Loss Percentage for such Distribution Date;
(xxiiixix) the total cashflows received (including amounts received from and the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)general sources thereof;
(xxivxx) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of B Certificates Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, Class B Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxvxxi) payments, if any, made under the Cap Contract and the amount distributed to each Class of Certificates from payments made under the Cap Contract;
(xxii) the amount on deposit of any Net WAC Rate Carryover Reserve AccountSwap Payments or Swap Termination Payments; and
(xxvixxiii) the applicable Record DateDates, Accrual Period Periods and Determination Date Dates for calculating distributions for such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Credit Risk Manager and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-1)
Statements. (a) On each Distribution Date, based, as applicable, on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.chase.com/absmbs, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):suc▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders or reduction of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsN Notional Amount, separately identified;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class X Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Collection Period and expenses of the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidunpaid Special Servicing Fees;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Collection Period;
(vi) the aggregate amount Pool Balance at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of prepayment penalties collected or deposits by the Seller in lieu thereof pursuant to Section 3.01 during the related Collection Period and the amounts thereof allocable to the Class N Certificates and the Class X Certificates;
(xiii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xiv) the Certificate Principal Balance, or Notional Amount, as applicable, of each Class of Certificates, after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xv) the aggregate amount beginning balance of extraordinary Trust amounts on deposit in the Excess Reserve Fund expenses withdrawn as of the preceding Distribution Date, any withdrawals from and deposits into the Collection Account for Excess Reserve Fund as of the Distribution Date, and the ending balance of amounts on deposit in the Excess Reserve Fund on such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date[Reserved];
(xvii) the Monthly Accrued Certificate Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Offered Certificates and the Class C B-2 Certificates for such Distribution Date Date, separately identifying the portions thereof attributable to Rate Payments, and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xix) the Senior Credit Enhancement Percentage for such Distribution Date[Reserved];
(xx) the Net WAC Rate Carryover Amount for each class Principal Balance of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution DateRe-performing 60+ Day Delinquent Loans;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderTrustee Fee paid;
(xxii) whether Class A-1A LIBOR Carryover Amounts for the Stepdown Class A-1A Certificates distributed on such Distribution Date or a Trigger Event is in effectand the amounts remaining after giving effect to distributions thereof on such Distribution Date;
(xxiii) any Overcollateralization Deficiency after giving effect to the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)distribution of principal on such Distribution Date;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificateswhether a Trigger Event has occurred and is continuing, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and cumulative Realized Losses, as a percentage of the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Dateoriginal Pool Balance;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andAvailable Funds;
(xxvi) the applicable Record Date, Accrual Period and Determination Date rate at which interest accrues for calculating distributions each Class of Certificates for such Distribution Date;
(xxvii) the Liquidation Report for such Distribution Date;
(xxviii) [Reserved]
(xxix) the aggregate Principal Balance of Mortgage Loans purchased by the Servicer or Seller during the related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan; and
(xxx) the aggregate Principal Balance of the Mortgage Loans repurchased by the Seller during the related Collection Period in connection with Section 3.16. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section Section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xv) and warranties regarding (xx) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall provide to the Class R and Class R-4 Certificateholders a copy of the reports provided to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R and Class R-4 Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee Securities Administrator shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencieson its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to from Prepayment Charges Penalties, Originator Prepayment Penalty Payment Amounts and Servicer Prepayment Charge Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Targeted Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidServicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance of the REO Property as of the close of business on the last Business Day of such calendar month and (D) the principal balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls and of any Compensating Interest for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.263.23;
(xixxvi) the Senior Credit Enhancement Interest Percentage for each Class of Certificates, the amount of any Current Interest Shortfall and the amount of the distribution made to each Class of Certificates pursuant to Section 4.02(f) for such Distribution Date;
(xxxvii) the Net WAC Rate Cap Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmounts distributed on such Distribution Date, if any, for the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount remaining unpaid after reimbursements therefor of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the amount Pass-Through Rate for each Class of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap ProviderCertificates for such Distribution Date;
(xxii) whether the Stepdown Date or a Trigger Event is information contained in effectthe Liquidation Report for such Distribution Date;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Servicer or the Interest Rate Swap Agreement)Depositor during the related Prepayment Period and indicating the section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Depositor during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount Mortgage Loan identifying number of each Mortgage Loan with a Prepayment Penalty that was the subject of a Principal Prepayment in full during the related Collection Period, the Prepayment Penalty listed on deposit Net WAC Rate Carryover Reserve Account; andeach related Mortgage Note and the Prepayment Penalty collected, and the Servicer Prepayment Penalty Payment Amount and the Originator Prepayment Penalty Payment Amount paid with respect to each such Mortgage Loan;
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions amount of any Yield Maintenance Agreement Payments for such Distribution Date. The Trustee will make such statement ; and
(and, at its option, any additional files containing xxvii) the same information in an alternative format) available each month to Certificateholders, amount of Subsequent Recoveries received during the NIMS Insurer, the Swap Provider and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”related Prepayment Period. Assistance in using the Securities Administrator's website can be obtained by calling the Trustee’s Securities Administrator's customer service desk at (301) 815-6600. The Securities Administrator shall provide such informa▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties ▇▇s that are unable to use the above distribution option are entitled to have a paper copy mailed by mailing to them via first class mail a paper copy of the Distribution Date Statement, upon request of any such party made by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimerchange. The Trustee will not be liable for Securities Administrator may fully rely upon and shall have no liability with respect to information with respect to the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Closing Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall forward to the Trustee Residual Certificateholders a copy of the reports forwarded to the holder of any Regular Certificate in respect of such Distribution Date with such other information as the Securities Administrator deems necessary or appropriate. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and if applicable, material modifications, extensions or waivers furnished to Mortgage Loan terms, fees, penalties or payments during Residual Certificateholders by the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Securities Administrator pursuant to any Mortgage Loan, delinquencies shall be determined by requirements of the Trustee Code as from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar time to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorstime in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wells Fargo Home Equity Asset-Backed Securities 2005-3 Trust)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “wh▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-3)
Statements. (a) On each Distribution Date, the Trustee shall make available to each Certificateholder, the Certificate Insurer, the Seller, and the Rating Agency, a statement based, as applicable, on loan-level information provided to it by the Servicer, the Trustee shall prepare obtained from and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and (the Rating Agencies, a statement “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount of interest Pool Collateral Balance and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodLoan Group Collateral Balance for such Distribution Date;;
(vii) with respect to the Loan Group Balance and related Net WAC and applicable Net WAC Cap for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the One-Month MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) the amount on deposit in the Prefunding Account in the aggregate and for each Loan Group (including a breakdown of amounts released during the prior calendar month in respect of Aggregate Subsequent Transfer Amounts or amounts included in Available Funds on the Distribution Date in the month following the end of the Prefunding Period);
(x) [reserved];
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) Losses and the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution DateRealized Losses, if any, allocated to each Class of Certificates or Principal-Only Components;
(xvi) the Class Certificate Principal Balance or Class Certificate Notional Balance, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to and the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the Servicing Agreement, or Swap Termination Payments (a) due from the Trust and (b) due from Section of this Agreement, as applicable, requiring or allowing the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(e)(i);
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)current Recoveries allocable to each Loan Group;
(xxiv) the respective Pass-Through Rates applicable cumulative Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution DateLoan Group;
(xxv) the amount on deposit of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(xxvi) for each Loan Group, the amount of Deferred Interest and Net WAC Rate Carryover Reserve AccountDeferred Interest, if any, for such Loan Group;
(xxvii) payments made under the Yield Maintenance Agreements, if any;
(xxviii) the amount of Net Deferred Interest, if any, added to the Class Certificate Principal Balance or Component Principal Balance of the related Certificates and Principal-Only Components;
(xxix) the amount of the Certificate Insurer Reimbursement Amount, if any;
(xxx) the Deficiency Amount, if any, to be paid by the Certificate Insurer; and
(xxvixxxi) the applicable Record Date, Accrual Period number of mortgage loans and Determination Date for calculating distributions for such Distribution Datethe aggregate principal balance of the mortgage loans that have negatively amortized in each Loan Group. The Trustee will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇”. ▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Trustee’s Trustee customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the Certificate Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from information provided by the Servicer and reported by time to time.
(c) On each Distribution Date, the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar shall supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Sources: Pooling Agreement (HarborView Mortgage Loan Trust 2005-10)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMS Insurer, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance Stated Principal Balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance Stated Principal Balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class A Certificates, the Mezzanine of Floating Rate Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Floating Rate Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Floating Rate Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) payments, if any, made under the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution DateCap Contract. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Insurer and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇desk. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMS Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and warranties regarding (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the NIMS Insurer and the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMS Insurer, upon request, and each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Home Loan Trust 2005-2)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties, as well as the aggregate principal balance of Mortgage Loans that were liquidated and the net proceeds resulting therefrom;
(ix) [reserved];
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period, separately indicating Principal Prepayments in full and Principal Prepayments in part;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized LossesLosses and the aggregate amount of Subsequent Recoveries received during the related Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;; 112
(xvixiv) the Certificate Principal Balance of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the each Class of Class A Certificates, each Class of Mezzanine Certificates, the Mezzanine Class B Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and each class of Mezzanine the Class B Certificates for the immediately succeeding Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvixxiii) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Date[reserved]. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇”/invr". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇7777. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such 113 statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee’s 's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Residual Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-1)
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Seller, the Master Servicer and the Rating Agency, a statement based, as applicable, on loan-level information provided to it by obtained from the Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Master Servicer and the Rating Agencies, a statement Servicers (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amountsprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflowthe Senior Percentage, the Overcollateralized AmountSenior Prepayment Percentage, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount Subordinate Percentage and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount Subordinate Prepayment Percentage with respect to each Loan Group for the Mortgage Pool for such following Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by each Servicer during the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including and the general purpose amount of such unreimbursed Advances);
(vi) the aggregate amount Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, each as of interest and scheduled principal received or advanced by the Servicer with respect to the related Due PeriodDetermination Date;
(vii) with respect to the Loan Group Balance and related Net WAC for each Loan Group, the related group balance Group at the Close of Business at the end of the related Due Period;
(viii) for each Loan Group, the aggregate Principal Balance of the One-Year CMT Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed, Six-Month LIBOR Indexed and One-Year LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) [reserved]
(xi) for each Loan Group, the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the related Mortgage Loans as of the related Determination Due Date;
(ixxii) the number and aggregate unpaid principal balance of Mortgage Loans Loans, in the aggregate and for each Loan Group, (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays Delinquent, (2b) 60 to 89 days and Delinquent, (3c) 90 or more daysdays Delinquent, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more daysbankruptcy, in each case as of the close of business on the last day of the preceding calendar month;
(xiii) the book value of any REO Property as of the Close of Business on the last day Business Day of the calendar month preceding such the Distribution Date and (D) REO Properties;
(x) the Delinquency Percentage;
(xi) Date, and, cumulatively, the total number and cumulative principal balance of all Liquidated Mortgage Loans REO Properties in each Loan Group as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xii) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Due Period;
(xiiixiv) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds Prepayment Penalty Amounts with respect to each Loan Group made during the related Prepayment Period;
(xivxv) the aggregate amount of Realized Losses incurred during the related Prepayment Due Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvi) the Class Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and Apportioned Principal Balances of the Subordinate Certificates after giving effect to the any distributions made thereon, on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amountrespective portions thereof, if any, with remaining unpaid following the distributions made in respect to the Class A Certificates, the Mezzanine of such Certificates and the Class C Certificates for on such Distribution Date;
(xviii) the aggregate amount of any Prepayment Net Interest Shortfalls for such Distribution Date, to and the extent not covered by payments by the Servicer pursuant to Section 3.26;
(xix) the Senior Credit Enhancement Percentage Unpaid Interest Shortfall Amount for such Distribution Date;
(xix) the Available Funds with respect to each Loan Group;
(xx) the Net WAC Pass-Through Rate Carryover Amount for each class Class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount aggregate Principal Balance of any Net Swap Payments Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the related Servicing Agreement, or Swap Termination Payments (a) due from the Trust and (b) due from Section of this Agreement, as applicable, requiring or allowing the Swap Providerpurchase of each such Mortgage Loan;
(xxii) whether the Stepdown Date amount of any Principal Deficiency Amounts or a Trigger Event is in effectAccrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxiii) the total cashflows received amount of any unpaid Basis Risk Shortfall or Unpaid Basis Risk Shortfall (including amounts received from if applicable) and the Supplemental Interest Trust Trustee under related accrued interest thereon, with respect to the Interest Rate Swap Agreement)LIBOR Certificates;
(xxiv) the respective Pass-Through Rates applicable current Recoveries allocable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding Distribution Date;Loan Group; and
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and
(xxvi) the applicable Record Date, Accrual Period and Determination Date for calculating distributions for such Distribution Datecumulative Recoveries allocable to each Loan Group. The Trustee Securities Administrator will make such statement the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Certificateholders and the Rating Agencies other parties to this Agreement via the TrusteeSecurities Administrator’s internet website. The TrusteeSecurities Administrator’s internet website shall initially be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. .” Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee Securities Administrator shall have the right to change the way such statements reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties parties, and the Trustee Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)change. In the case of information furnished pursuant to subclauses (i) through and (iiiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D Securities Administrator shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (iii) and warranties regarding (xxi) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Securities Administrator shall be deemed to have been satisfied to the extent known that substantially comparable information shall be prepared and furnished by the Securities Administrator to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect Certificateholders pursuant to any Mortgage Loanrequirements of the Code as are in force from time to time.
(c) On each Distribution Date, delinquencies the Securities Administrator shall be determined by the Trustee from information provided by the Servicer and reported by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar supply an electronic tape to the Mortgage Loans. By way of exampleBloomberg Financial Markets, Inc. in a Mortgage Loan would be Delinquent with respect format acceptable to a Monthly Payment due Bloomberg Financial Markets, Inc. on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a Mortgage format acceptable to Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business Performance and Intex Solutions on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsa monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-4)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal or reduction of Notional Amount, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance Balance, or Notional Amount, as applicable, of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer or Seller during the Interest Rate Swap Agreement)related Collection Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Collection Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Accountof the Credit Risk Manager Fee paid; and
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Charge listed on each related Mortgage Note and Determination Date for calculating distributions for the Prepayment Charge collected or the Servicer Prepayment Charge Payment Amount paid by the Master Servicer with respect to each such Distribution DateMortgage Loan. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asst BCKD Cert Ser 2002-Opt1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderNIMs Insurer, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates Certificates, separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount of interest and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to each Loan Group, the related group balance Pool Balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination DateDate and the number and aggregate principal balance of all Subsequent Mortgage Loans added during the preceding Prepayment Period;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) REO
(1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date and (D) REO Properties;
(xix) the Delinquency Percentage[reserved];
(xi) the total number and cumulative principal balance of all Liquidated Mortgage Loans as of the Close of Business of the last day of the preceding Prepayment Period, prior to the reduction of each principal balance to zero;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvxiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, each class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixvi) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xixxvii) the Senior Credit Enhancement Percentage for such Distribution Date;
(xxxviii) the Net WAC Rate Carryover Amount for each class of the Class A Certificates and each class of the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxixix) any Overcollateralization Target Amount, Overcollateralized Amount and Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxiixx) whether when the Stepdown Date or a Trigger Event is in effecthas occurred;
(xxiiixxi) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxivxxii) the respective Pass-Through Rates applicable to each Class of the Class A Certificates, each Class of the Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Pass- Through Rate applicable to each Class of the Class A Certificates and each class of the Mezzanine Certificates for the immediately succeeding Distribution Date;
(xxiii) (A) the amount of payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the cumulative amount of payments received related to claims under the PMI Policy since the Closing Date (and the number of Mortgage Loans to which such payments related);
(A) the dollar amount of claims made under the PMI Policy that were denied during the Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the dollar amount of the cumulative claims made under the PMI Policy that were denied since the Closing Date (and the number of Mortgage Loans to which such denials related);
(xxv) the amount on deposit Net WAC Rate Carryover in the Pre-Funding Account, the Interest Coverage Account and the Reserve AccountFund; and
(xxvi) for the applicable Record Datedistribution occurring on the Distribution Date immediately following the end of the Funding Period, Accrual Period the balance on deposit in the Pre-Funding Account that has not been used to purchase Subsequent Mortgage Loans and Determination Date for calculating distributions for that is being distributed to the Class A Certificates as a mandatory prepayment of principal, if any, on such Distribution Date. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider NIMs Insurer and the Rating Agencies via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"www.ctslink.com". Assistance in usin▇ ▇▇.▇ ▇▇▇▇▇▇▇ ▇.▇▇▇”. Assistance in using the website can an be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to the NIMs Insurer and each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the 91 Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the NIMs Insurer and the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to the NIMs Insurer and each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2001-1)
Statements. (a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap ProviderMaster Servicer, the Servicer Rating Agencies and the Rating AgenciesCertificate Insurer, a statement as to the distributions made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class S Certificates), separately identified, allocable to principal and the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Servicer Prepayment Charge Payment AmountsCharges;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the Mortgage Pool for such Distribution Date;
(iv) any fees the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and expenses of such other customary information as the Trust accrued and paid on such Distribution Date and Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to whom such fees and expenses were paidenable Certificateholders to prepare their tax returns;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Advances)Period;
(vi) the aggregate amount Pool Balance and the Pool Balance of interest MI Loans and scheduled principal received or advanced by the Servicer with respect to the related Due Period;
(vii) with respect to Non-MI Loans, each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viiivii) the number, aggregate Principal Balanceprincipal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage MI Loans and Non-MI Loans, respectively, as of the related Determination Date;
(ixviii) the total number and aggregate unpaid principal balance of the Mortgage Loans (except those Mortgage and the MI Loans that are liquidated as of the end of the related Prepayment Period) and Non-MI Loans, respectively, that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (C) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close of Business on the last day of the calendar month preceding such Distribution Date Date, and (D) REO Properties;
(xix) the Delinquency Percentage;
(xi) the total number and cumulative principal balance of all Liquidated with respect to any Mortgage Loans as of the Close of Business of the last day of Loan that became an REO Property during the preceding Prepayment Period, prior to the reduction of each unpaid principal balance to zeroand the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xiix) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment PeriodPeriod and the total number and cumulative principal balance of REO Properties that were MI Loans and Non-MI Loans respectively;
(xiiixi) the aggregate amount of Principal Prepayments in full, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and Period, the cumulative amount of Realized LossesLosses and the aggregate amount of Realized Losses incurred on MI Loans and Non-MI Loans respectively;
(xvxiii) the aggregate amount of Realized Losses incurred during the twelve months preceding such Distribution Date (or such fewer number of calendar months which have occurred since the Cut-off Date);
(xiv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account or Distribution Account for such Distribution Date;
(xvixv) the Certificate Principal Balance of each Class of the Class A Certificates, each class of Mezzanine Certificates and the Notional Amount of the Class C S Certificates, before and after giving effect to the distributions made on such Distribution Date;
(xviixvi) the Monthly Interest Distributable Amount and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of each Class of the Class A Certificates, each class of Mezzanine Certificates and the Class C S Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for on such Distribution Date;
(xviiixvii) the aggregate amount of any Prepayment Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.26;
(xviii) the aggregate Premium Amount to be paid to the Certificate Insurer;
(xix) the Senior Credit Enhancement Percentage for such Distribution DateNet WAC Rate;
(xx) the Net WAC Rate Carryover Amount for each class of Class A Certificates and each class of Mezzanine CertificatesAmount, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) any Overcollateralization Deficiency Amount after giving effect to the amount distribution of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Providerprincipal on such Distribution Date;
(xxii) whether the Stepdown Date or Step Up Cumulative Loss Test and/or Step Up Rolling Loss Test have been met and the cumulative realized losses, as a Trigger Event is in effectpercentage of the original Pool Balance;
(xxiii) the total cashflows received (including amounts received from the Supplemental Interest Trust Trustee under the Interest Rate Swap Agreement)Available Funds;
(xxiv) the respective Pass-Through Rates applicable to each Class of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to each Class of for the Class A Certificates and each class of Mezzanine Certificates for the immediately succeeding such Distribution Date;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; and[reserved];
(xxvi) the applicable Record Dateaggregate Principal Balance of the Mortgage Loans, Accrual and the MI Loans and Non-MI Loans, respectively, purchased by the Master Servicer, Originator or Sponsor during the related Prepayment Period and Determination Date for calculating distributions for indicating the Section of this Agreement requiring or allowing the purchase of each such Distribution Date. Mortgage Loan;
(xxvii) the number of delinquent Mortgage Loans, and MI Loans and Non-MI Loans, respectively, sold during the preceding Prepayment Period, the aggregate outstanding principal balance of such MI Loans and Non-MI Loans and the aggregate sale price;
(xxviii) the amount on deposit in the Reserve Account;
(xxix) the amount of the Reserve Account Addition;
(xxx) amounts received under the Cap Agreements; and
(xxxi) claims filed, claims made, claims rejected or reduced under the MI Policy in the six month periods ending at the end of the preceding month, the second preceding month and the third preceding month, by dollar amount, as a percentage of the Original Pool Balance, and as a percentage of the total number of Mortgage Loans.
(xxxii) dollar amount of claims paid under the MI Policy and dollar amount of claims rejected or reduced under the MI Policy in the prior twelve months divided by the balance of the MI Loans at the beginning of such twelve month period; and The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider Rating Agencies and the Rating Agencies Certificate Insurer via the Trustee’s 's internet website. The Trustee’s 's internet website shall initially be located at “w"www.ctslink.com". Assistance in usin▇ ▇▇.▇ ▇▇▇▇▇▇▇ ▇.▇▇▇”. Assistance in using the website can an be obtained by calling the Trustee’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto). In the case of information furnished pursuant to subclauses (i) through (iii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall, upon written request, furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations and warranties regarding a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the Mortgage Loans information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided by pursuant to the Servicer previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Certificateholders by the Trustee based pursuant to any requirements of the Code as from time to time in force.
(e) The Trustee hereby agrees to disclose the Premium Amount to any Person upon request.
(f) If and when the aggregate principal amount of Realized Losses on the OTS methodology for determining delinquencies on mortgage loans similar MI Loans is equal to or greater than $5,289,733.14, the Trustee shall give notice in writing of such fact to the Mortgage Loans. By way of exampleSponsor, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if the Master Servicer, the MI Insurer and the Certificate Insurer no later than 5 days after the occurrence after such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject to any delinquency recognition policy established by its safety and soundness regulatorsevent.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Statements. (a) On each Distribution Date, based, as applicable, based on the Mortgage Loan information provided to it by contained in the ServicerRemittance Report, the Trustee shall prepare and make available to each Holder of the Regular Certificates, the Swap Provider, the Servicer and the Rating Agenciespost on its website at www.ctslink.com, a statement (the "Distribution Date Statement") as to the distributions ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ns made on such Distribution Date (the “Monthly Statement”):Date:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal principal, separately identified and the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges Charges, Originator Prepayment Charge Payment Amounts and Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interestinterest or Class CE Distributable Amount, separately identified;
(iii) Net Monthly Excess Cashflow, the Overcollateralized Overcollateralization Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Monthly Excess Overcollateralized Interest Amount for the Mortgage Pool and Monthly Excess Cashflow Amount for such Distribution Date;
(iv) any fees and expenses the aggregate amount of servicing compensation received by the Trust accrued and paid on such Distribution Date and to whom such fees and expenses were paidMaster Servicer during the related Collection Period;
(v) the aggregate amount of Advances for the related Due Period (including the general purpose of such Collection Period, cumulative unreimbursed Advances and Servicing Advances and cumulative Nonrecoverable Advances);
(vi) the aggregate amount Pool Balance, at the close of interest and scheduled principal received or advanced by business at the Servicer with respect to end of the related Due Collection Period;
(vii) with respect to each Loan Group, the related group balance at the Close of Business at the end of the related Due Period;
(viii) the number, aggregate Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Mortgage Loans as of the related Determination Due Date;
(ixviii) the number and aggregate unpaid principal balance of Mortgage Loans (except those Mortgage Loans that are liquidated as of the end of the related Prepayment Period) that were (as determined using the OTS method) (A) Delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure and REO Properties) (1a) 30 to 59 daysdays past due on a contractual basis, (2b) 60 to 89 days and past due on a contractual basis, (3c) 90 or more daysdays past due on a contractual basis, (Bd) as to which foreclosure proceedings have been commenced and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (Ce) in bankruptcy and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, in each case as of the Close close of Business business on the last day of the calendar month preceding such Distribution Date Date;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and (D) the Principal Balance of such Mortgage Loan as of the date it became an REO PropertiesProperty;
(x) the Delinquency Percentage;
(xi) the total number and cumulative principal balance book value of all Liquidated Mortgage Loans any REO Property as of the Close close of business on the last Business Day of the last day of calendar month preceding the preceding Prepayment PeriodDistribution Date, prior to the reduction of each principal balance to zero;
(xii) and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the Close close of Business business of the last day of the preceding Prepayment Collection Period;
(xiiixi) the aggregate amount of Principal Prepayments in fullseparately stated for each Loan Group, the aggregate amount of Principal Prepayments in part and Net Liquidation Proceeds made during the related Prepayment Period;
(xivxii) separately stated for each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Collection Period and the cumulative amount of Realized Losses;
(xv) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Collection Account for such Distribution Date;
(xvixiii) the Certificate Principal Balance of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates, before and after giving effect to the distributions, and allocations of Realized Losses or Applied Realized Loss Amounts, as applicable, made on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses or Applied Realized Loss Amounts;
(xiv) the Accrued Certificate Interest in respect of each Class of Certificates for such Distribution Date and any related Cap Carryover Amounts, and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) the Monthly Interest Distributable Amount in respect of each Class of Class A Certificates, each class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class C Certificates for such Distribution Date;
(xviiixv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.263.23;
(xvi) the amount of the Trustee Fee paid;
(xvii) the Cap Carryover Amounts distributed on such Distribution Date, the amounts remaining after giving effect to distributions thereof on such Distribution Date and the amount of all Cap Carryover Amounts covered by withdrawals from the Reserve Account on such Distribution Date;
(xviii) any Overcollateralization Deficiency after giving effect to the distribution of principal on such Distribution Date;
(xix) whether a Trigger Event has occurred and is continuing, and the Senior Credit Enhancement Percentage cumulative Realized Losses, as a percentage of the original Pool Balance;
(xx) the Available Funds;
(xxi) the rate at which interest accrues for each Class of Certificates for such Distribution Date;
(xxxxii) the Net WAC Rate Carryover Amount information contained in the Liquidation Report for each class of Class A Certificates and each class of Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xxi) the amount of any Net Swap Payments or Swap Termination Payments (a) due from the Trust and (b) due from the Swap Provider;
(xxii) whether the Stepdown Date or a Trigger Event is in effect;
(xxiii) the total cashflows received (including amounts received from aggregate Principal Balance of Mortgage Loans purchased by the Supplemental Interest Trust Trustee under Master Servicer, the Interest Rate Swap Agreement)Originator or the Seller during the related Prepayment Period and indicating the Section of this Agreement requiring or allowing the purchase of each such Mortgage Loan;
(xxiv) the respective Pass-Through Rates applicable to each Class aggregate Principal Balance of Class A Certificates, each Class of Mezzanine Certificates and the Class C Certificates for such Distribution Date and Mortgage Loans repurchased by the Pass-Through Rate applicable to each Class of Class A Certificates and each class of Mezzanine Certificates for Master Servicer during the immediately succeeding Distribution Daterelated Prepayment Period in connection with Section 3.16;
(xxv) the amount on deposit Net WAC Rate Carryover Reserve Account; andof the Credit Risk Manager Fee paid;
(xxvi) the applicable Record DateMortgage Loan identifying number of each Mortgage Loan with a Prepayment Charge that was the subject of a Principal Prepayment in full during the related Collection Period, Accrual Period the Prepayment Charge listed on each related Mortgage Note and Determination Date for calculating distributions for the Prepayment Charge collected, the Servicer Prepayment Charge Payment Amount paid by the Master Servicer or the Originator Prepayment Charge Payment Amount paid by the Originator with respect to each such Distribution DateMortgage Loan; and
(xxvii) the amount of any claims made, and any claims rejected, under the Mortgage Insurance Policy during the related Collection Period. The Trustee will make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the NIMS Insurer, the Swap Provider may fully rely upon and the Rating Agencies via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right no liability with respect to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible information with respect to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information Mortgage Loans provided by third parties for purposes of preparing the distribution date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party thereto)Master Servicer. In the case of information furnished pursuant to subclauses (i), (ii) through and (iiixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-off Date. In addition.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee will report on Form 10-D shall furnish to each Person who at any material breaches time during the calendar year was a Certificateholder of representations a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii), (xiv) and warranties regarding (xvii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Mortgage Loans Trustee shall be deemed to have been satisfied to the extent known to the Trustee and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time. For all purposes of this Agreement, with respect to any Mortgage Loan, delinquencies substantially comparable information shall be determined prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholder a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information provided by as the Servicer Trustee deems necessary or appropriate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and reported furnished to Class R Certificateholder by the Trustee based on the OTS methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, a Mortgage Loan would be Delinquent with respect to a Monthly Payment due on a Due Date if such Monthly Payment is not made by the close of business on the Mortgage Loan's next succeeding Due Date, and a Mortgage Loan would be more than 30-days Delinquent with respect to such Monthly Payment if such Monthly Payment were not made by the close of business on the Mortgage Loan’s second succeeding Due Date. The Servicer hereby represents and warrants to the Depositor that it is not subject pursuant to any delinquency recognition policy established by its safety and soundness regulatorsrequirements of the Code as from time to time in force.
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Sources: Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asset Back Cert Ser 2003 Opt1)