Exhibit 10.3(B)
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EXECUTION COPY
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (the "Agreement"), dated
January 30, 2007, is among Bank of America, National Association, a national
banking association ("Assignor"), Banc of America Funding Corporation, a
Delaware corporation ("BAFC"), U.S. Bank National Association, a national
banking association, not in its individual capacity, but solely as trustee of
the Banc of America Funding 2007-1 Trust ("Assignee"), Xxxxx Fargo Bank, N.A., a
national banking association ("Xxxxx Fargo Bank"), as servicer, and acknowledged
by Xxxxx Fargo Bank, N.A. as master servicer of the Banc of America Funding
2007-1 Trust.
WHEREAS, pursuant to that certain Flow Servicing Rights Purchase and Sale
Agreement, dated as of July 1, 2006 (the "Purchase Agreement"), by and between
the Assignor and Xxxxx Fargo Bank, the Assignor has sold, and Xxxxx Fargo Bank
has purchased, the servicing rights related to the mortgage loans listed on
Exhibit A hereto (the "Mortgage Loans");
WHEREAS, Xxxxx Fargo Bank has agreed to service the Mortgage Loans in
accordance with that certain Servicing Agreement, dated as of July 1, 2006 (the
"Servicing Agreement"), by and between the Assignor and Xxxxx Fargo Bank
(attached hereto in Appendix I);
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee; and
WHEREAS, on the date hereof, Xxxxx Fargo Bank, as master servicer (in such
capacity, the "Master Servicer") and as securities administrator (in such
capacity, the "Securities Administrator"), is entering into a Pooling and
Servicing Agreement, dated the date hereof (the "Pooling Agreement"), among
BAFC, the Master Servicer, the Securities Administrator and the Assignee,
pursuant to which the Master Servicer shall supervise, monitor and oversee the
servicing of the Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to Assignee, all of the right, title and
interest of the Assignor in, to and under the Servicing Agreement (other than
the rights of the Assignor to indemnification thereunder).
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the Servicing Agreement other than the Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC and
the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the
full right to transfer the Mortgage Loans free from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of,
any offsets, counterclaims or other defenses available to Xxxxx Fargo Bank
with respect to the Purchase Agreement, the Servicing Agreement or the
Mortgage Loans;
c. The Assignor has not waived or agreed to any waiver under, or
agreed to any amendment or other modification of, the Purchase Agreement,
the Servicing Agreement or the Mortgage Loans, including without limitation
the transfer of the servicing obligations under the Servicing Agreement.
The Assignor has no knowledge of, and has not received notice of, any
waivers under or amendments or other modifications of, or assignments of
rights or obligations under, the Purchase Agreement, the Servicing
Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security to, or
solicited any offer to buy or accept a transfer, pledge or other
disposition of the Mortgage Loans, any interest in the Mortgage Loans or
any other similar security from, or otherwise approached or negotiated with
respect to the Mortgage Loans, any interest in the Mortgage Loans or any
other similar security with, any person in any manner, or made any general
solicitation by means of general advertising or in any other manner, or
taken any other action which would constitute a distribution of the
Mortgage Loans under the Securities Act of 1933 (the "33 Act") or which
would render the disposition of the Mortgage Loans a violation of Section 5
of the 33 Act or require registration pursuant thereto.
3. From and after the date hereof, Xxxxx Fargo Bank shall note the transfer
of the Mortgage Loans to the Assignee in its books and records, and Xxxxx Fargo
Bank shall recognize the Assignee as the owner of the Mortgage Loans.
Notwithstanding anything to the contrary contained in Section 9.01 of the
Servicing Agreement, Xxxxx Fargo Bank shall service the Mortgage Loans pursuant
to the Servicing Agreement as modified by Section 6 of this Agreement, for the
benefit of the Assignee. Xxxxx Fargo Bank acknowledges that a REMIC election
will be made with respect to the Mortgage Loans and that the Master Servicer,
pursuant to the Pooling Agreement, will administer on behalf of the Assignee the
terms and conditions of the Servicing Agreement.
4. Xxxxx Fargo Bank hereby represents and warrants to each of the other
parties hereto (i) that the representations and warranties of Xxxxx Fargo Bank
in Section 3.01 of the Servicing Agreement are true and correct in all material
respects as of the date hereof with the same force and effect as though
expressly made at and/or as of the date hereof, (ii) that it has serviced the
2
Mortgage Loans in accordance with the terms of the Servicing Agreement, and
(iii) that it has taken no action nor omitted to take any required action the
omission of which would have the effect of impairing any mortgage insurance or
guarantee on the Mortgage Loans.
5. In accordance with Sections 2.03 and 9.01 of the Servicing Agreement,
the Assignor hereby instructs Xxxxx Fargo Bank, and Xxxxx Fargo Bank hereby
agrees, to release from its custody and deliver the Mortgage File (as defined in
the Servicing Agreement) for each Mortgage Loan to the Assignee, or a custodian
on its behalf under the Pooling Agreement, at the address set forth in Section 7
herein on or before the date hereof.
6. Xxxxx Fargo Bank, BAFC and the Assignee hereby agree to the following
modifications to the Servicing Agreement:
a. Article I. Article I is hereby modified by deleting the definition of
"Principal Prepayment Period" and replacing it with the following:
"The calendar month preceding the month in which the related
Remittance Date occurs."
b. Section 4.03. Section 4.03 is hereby modified to read as follows:
"Continuously from the respective Cut-off Date until the principal and
interest on all Mortgage Loans are paid in full or the Mortgage Loans
have been fully liquidated (with respect to Mortgage Loans that remain
subject to this Agreement pursuant to Section 9.01 herein), in
accordance with this Agreement and Accepted Servicing Practices, the
Servicer shall proceed diligently to collect all payments due under
each of the Mortgage Loans when the same shall become due and payable
and shall take special care in ascertaining and estimating Escrow
Payments and all other charges that will become due and payable with
respect to the Mortgage Loan and the Mortgaged Property, to the end
that the installments payable by the Mortgagors will be sufficient to
pay such charges as and when they become due and payable."
c. Section 5.01. Section 5.01 is hereby modified by deleting "the second
Business Day following" from the first sentence of the second
paragraph.
d. Section 5.02. Section 5.02 is hereby modified to read as follows:
"Not later than the tenth (10th) calendar day of each month, the
Servicer shall furnish to the Owner (or any master servicer) a
delinquency report in the form set forth in Exhibit D-1, a monthly
remittance advice in the form set forth in Exhibit D-2, and a realized
loss report in the form set forth in Exhibit D-3, each in a mutually
agreeable electronic format, as to the remittance on such Remittance
Date and as to the period ending on the last day of the month
preceding such Remittance Date. The information required by Exhibit
D-1 is limited to that which is readily available to the Servicer and
is mutually agreed to by the Servicer and the Owner (or any master
servicer)."
3
The exhibits referenced in this Section 6 are attached to this
Agreement as Exhibit B hereto.
e. Section 6.04. Section 6.04 is hereby modified by deleting the
references to "the Owner or any Master Servicer and Depositor"
and replacing them with "the Master Servicer and the Master
Servicer shall deliver to the Depositor."
f. Section 6.06. Section 6.06 is hereby modified by:
(1) deleting the references to "the Owner, any Master Servicer
and any Depositor" and replacing them with "the Master Servicer
and the Master Servicer shall deliver to the Depositor"; and
(2) inserting the following at the end of the fifth full
paragraph therein:
"Neither the Owner nor any Depositor or Master Servicer will
request delivery of a certification under clause (d) above unless
a Depositor or Master Servicer is required under the Exchange Act
to file an annual report on Form 10-K with respect to an issuing
entity whose asset pool includes the Mortgage Loans."
g. Section 9.01. Section 9.01 is hereby modified by:
(1) modifying Section 9.01(g)(iii) to read as follows:
"In addition to such information as the Servicer, as servicer, is
obligated to provide pursuant to other provisions of this
Agreement, not later than ten (10) days prior to the deadline for
the filing of any distribution report on Form 10-D in respect of
any Securitization Transaction that includes any of the Mortgage
Loans serviced by the Servicer or any Subservicer, the Servicer
or such Subservicer, as applicable, shall, to the extent the
Servicer or such Subservicer has knowledge, provide to the party
responsible for filing such report (including, if applicable, the
Master Servicer) notice of the occurrence of any of the following
events along with all information, data, and materials related
thereto as may be required to be included in the related
distribution report on Form 10-D (as specified in the provisions
of Regulation AB referenced below):
(A) any material modifications, extensions or waivers of
pool asset terms, fees, penalties or payments during the
distribution period or that have cumulatively become material
over time (Item 1121(a)(11) of Regulation AB);
(B) material breaches of pool asset representations or
warranties or transaction covenants (Item 1121(a)(12) of
Regulation AB); and
4
(C) information regarding new asset-backed securities
issuances backed by the same pool assets, any pool asset changes
(such as, additions, substitutions or repurchases), and any
material changes in origination, underwriting or other criteria
for acquisition or selection of pool assets (Item 1121(a)(14) of
Regulation AB).
(iv) The Servicer shall provide to the Master Servicer and the
Master Servicer shall deliver to the Depositor, evidence of the
authorization of the person signing any certification or
statement, copies or other evidence of Fidelity Bond Insurance
and Errors and Omission Insurance policy, financial information
and reports, and such other information related to the Servicer
or any Subservicer or the Servicer or such Subservicer's
performance hereunder."; and
(2) modifying Section 9.01(k) by deleting the word "Investor" and
replacing it with "party designated by the Owner"
h. Section 10.01. Section 10.01 is hereby modified by:
(1) replacing the word "sixty (60)" with "thirty (30)" in Section
10.01(b) and inserting the following thereafter:
"(or, in the case of any failure by the Servicer to perform its
obligations under Section 6.04 or Section 6.06, ten (10))"; and
(2) replacing the word "fifteen (15)" with "ten (10)" in Section
10.01(j).
7. The Assignee's address for purposes of all notices and
correspondence related to the Mortgage Loans and the Purchase Agreement and
Servicing Agreement is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured FinanceTrust Services, BAFC 2007-1
BAFC's address for purposes of all notices and correspondence related
to the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
5
The Master Servicer's address for purposes of all notices and
correspondence related to the Mortgage Loans is:
Xxxxx Fargo Bank, N.A.
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxx 00000
Attention: Client Manager - BAFC 2007-1
8. Xxxxx Fargo Bank shall remit all funds pursuant to the following
wire instructions:
XXXXX FARGO BANK, N.A.
ABA# 000000000
FOR CREDIT TO: SAS CLEARING, ACCT: 0000000000
FFC TO: BAFC 2007-1 #50978800
9. Xxxxx Fargo Bank hereby acknowledges that Xxxxx Fargo Bank, N.A.
has been appointed as the Master Servicer of the Mortgage Loans pursuant to
the Pooling Agreement, and therefore has the right to enforce all
obligations of Xxxxx Fargo Bank, as they relate to the Mortgage Loans,
under the Servicing Agreement. Such right will include, without limitation,
the right to exercise any and all rights of the Assignor (but not the
obligations) under the Servicing Agreement to monitor and enforce the
obligations of Xxxxx Fargo Bank thereunder, the right to receive all
remittances required to be made by Xxxxx Fargo Bank under the Servicing
Agreement, the right to receive all monthly reports and other data required
to be delivered by Xxxxx Fargo Bank under the Servicing Agreement, the
right to examine the books and records of Xxxxx Fargo Bank, as servicer,
indemnification rights, and the right to exercise certain rights of consent
and approval relating to actions taken by Xxxxx Fargo Bank, as servicer.
10. Notwithstanding any provision of the Servicing Agreement to the
contrary, and solely with respect to the Mortgage Loans, any Prepayment
Penalties collected by Xxxxx Fargo Bank shall be remitted to the Master
Servicer.
11. It is expressly understood and agreed by the parties hereto that
(i) this Agreement is executed and delivered by U.S. Bank National
Association not individually or personally but solely as trustee on behalf
of the Trust, in the exercise of the powers and authority conferred and
vested in it under the terms of the Pooling and Servicing Agreement, and
(ii) under no circumstances shall U.S. Bank National Association be
personally liable for the payment of any indebtedness or expenses of the
Trust (including, without limitation, any fees, expenses or indemnities
payable under the Purchase and Servicing Agreements), or be liable for the
breach or failure of any obligation, representation, warranty or covenant
of the Trust under this Agreement or any other related documents, as to all
of which recourse shall be had solely to the assets of the Trust in
accordance with the terms of the Pooling and Servicing Agreement.
[Signatures Follow]
6
IN WITNESS WHEREOF, the parties have caused this Assignment,
Assumption and Recognition Agreement to be executed by their duly
authorized officers as of the date first above written.
Bank of America, National Association, as Assignor
By: /s/ Xxxxx X. Good
------------------
Name: Xxxxx X. Good
Title: Principal
U.S. Bank National Association, as Assignee
By: /s/ Xxxxxxx X. Xxxxx
----------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
----------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
Xxxxx Fargo Bank, N.A., as servicer
By: /s/ Xxxxxx XxXxxxxx
-------------------------
Name: Xxxxxx XxXxxxxx
Title: Vice President
Acknowledged and Agreed as
of the date first written above:
Xxxxx Fargo Bank, N.A., as Master Servicer
By: /s/ Xxxxxxx Xxxxx Xxxxx
------------------------
Name: Xxxxxxx Xxxxx Colli
Title: Vice President
[Assignment, Assumption and Recognition Agreement for BAFC2007-1]
EXHIBIT A
Schedule of Mortgage Loans
[Please see the Free Writing Prospectus filed and accepted by the Securities
and Exchange Commission on January 31, 2007, with a filing date of
January 31, 2007 and accession number 0001379402-07-000010.]
X-0
XXXXXXX X
Xxxxxxx X-0 Standard File Layout - Delinquency Reporting
*The column/header names in bold are the minimum fields Xxxxx Fargo must receive
from every Servicer
Column/Header Name Description Decimal Format Comment
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This
may be different than the LOAN_NBR
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOAN_NBR A unique identifier assigned to each loan by the originator.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
CLIENT_NBR Servicer Client Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
SERV_INVESTOR_NBR Contains a unique number as
assigned by an external servicer
to identify a group of loans in
their system.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BORROWER_FIRST_NAME First Name of the Borrower.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BORROWER_LAST_NAME Last name of the borrower.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
XXXX_XXXXXXX Xxxxxx Name and Number of Property
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
PROP_STATE The state where the property located.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
PROP_ZIP Zip code where the property is located.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next
payment is due to the MM/DD/YYYY
servicer at the end of processing
cycle, as reported by Servicer.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy
filing.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY
by the courts
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either by MM/DD/YYYY
Dismissal, Discharged and/or a Motion For Relief Was
Granted.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter
to the servicer with MM/DD/YYYY
instructions to begin foreclosure
proceedings.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY
Action
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
B-1
EVICTION_COMPLETED_DATE The date the court revokes legal
possession of the property
MM/DD/YYYY from the borrower.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
OCCUPANT_CODE Classification of how the property is occupied.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
PROP_CONDITION_CODE A code that indicates the condition of the property.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
CURR_PROP_VAL The current "as is" value of the property based on brokers 2
price opinion or appraisal.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2
completed pursuant to a broker's price opinion or appraisal.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
If applicable:
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
DELINQ_REASON_CODE The circumstances which caused a
borrower to stop paying on a loan.
Code indicates the reason why the
loan is in default for this cycle.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage MM/DD/YYYY
Insurance Company.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- -------- -- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY
Insurer
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
B-2
FHA_PART_A_CLAIM_FILED_DATE Date FHA Part A Claim Was Filed With HUD MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
MOTION_FOR_RELIEF_DATE The date the Motion for Relief was filed 10 MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_BID_AMT The foreclosure sale bid amount No commas(,)
or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
FRCLSR_SALE_TYPE The foreclosure sales results: REO, Third Party, Conveyance
to HUD/VA
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
REO_PROCEEDS The net proceeds from the sale of the REO property. No commas(,)
or dollar
signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
BPO_DATE The date the BPO was done.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
CURRENT_BPO_VAL The current "as is" value of th property based on a brokers
price opinion.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
REPAIRED_BPO_PROP_VAL The amount the property would be
worth if repairs are completed
pursuant to a broker's price
opinion.
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
CURR_APP_VAL The current "as is" value of the property based on an No commas(,)
appraisal. or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
CURRENT_FICO The current FICO score
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
HAZARD_CLAIM_FILED_DATE The date the Hazard Claim was filed with the Hazard MM/DD/YYYY
Insurance Company. 10
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
HAZARD_CLAIM_AMT The amount of the Hazard Insurance Claim filed. No commas(,)
or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
HAZARD_CLAIM_PAID_DATE The date the Hazard Insurance Company disbursed the claim MM/DD/YYYY
payment. 10
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
HAZARD_CLAIM_PAID_AMT The amount the Hazard Insurance Company paid on the claim. No commas(,)
or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
POOL_CLAIM_FILED_DATE The date the claim was filed with the Pool Insurance Company. 10 MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
POOL_CLAIM_AMT The amount of the claim filed with the Pool Insurance No commas(,)
Company. or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
POOL_CLAIM_PAID_DATE The date the claim was settled and the check was issued by MM/DD/YYYY
the Pool Insurer. 10
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
POOL_CLAIM_AMT_PAID The amount paid on the claim by the Pool Insurance Company. No commas(,)
or dollar
11 signs ($)
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
B-3
FORECLOSURE_FLAG Y or N Text
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
BANKRUPTCY_FLAG Y or N Text
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
NOD_DATE MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
MI_CLAIM_DATE Date Mortgage Insurance is filed MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
NOI_DATE MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
ACTUAL_PAYMENT_PLAN_START_DATE MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
ACTUAL_PAYMENT_ PLAN_END_DATE
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
LIST_DATE MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
VACANCY/OCCUPANCY_STATUS The Occupancy status of the defaulted loan's collateral Text
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
ACTUAL_REO_START_DATE MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
SALES_PRICE Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
UPB_LIQUIDATION Outstanding Pricipal Balance of the loan upon Liquidation Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
REALIZED_LOSS/GAIN As defined in the Servicing Agreement Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
LIQUIDATION_PROCEEDS Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
PREPAYMENT_CHARGES_COLLECTED The amount of Prepayment Charges received Number
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
PREPAYMENT_CALCULATION The formula behind the prepayment charge Text
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
---------------------------------------------
PAYOFF_DATE The date on which the loan was paid off MM/DD/YYYY
--------------------------------------------- -------------------------------------------------------------- ----------- -----------
B-4
Exhibit D-1: Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: Xxxxx Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply Xxxxx
Fargo Bank with a description of each of the Loss Mitigation Types prior to
sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
B-5
Exhibit D-1: Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Reason Code field should show the Reason for Delinquency as
follows:
------------------------ ---------------------------------------------------------
Delinquency Code Delinquency Description
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
001 FNMA-Death of principal mortgagor
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
002 FNMA-Illness of principal mortgagor
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
003 FNMA-Illness of mortgagor's family member
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
004 FNMA-Death of mortgagor's family member
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
005 FNMA-Marital difficulties
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
006 FNMA-Curtailment of income
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
007 FNMA-Excessive Obligation
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
008 FNMA-Abandonment of property
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
009 FNMA-Distant employee transfer
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
011 FNMA-Property problem
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
012 FNMA-Inability to sell property
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
013 FNMA-Inability to rent property
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
014 FNMA-Military Service
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
015 FNMA-Other
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
016 FNMA-Unemployment
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
017 FNMA-Business failure
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
019 FNMA-Casualty loss
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
022 FNMA-Energy environment costs
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
023 FNMA-Servicing problems
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
026 FNMA-Payment adjustment
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
027 FNMA-Payment dispute
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
029 FNMA-Transfer of ownership pending
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
030 FNMA-Fraud
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
031 FNMA-Unable to contact borrower
------------------------ ---------------------------------------------------------
------------------------ ---------------------------------------------------------
INC FNMA-Incarceration
------------------------ ---------------------------------------------------------
B-6
Exhibit D-1: Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
------------------------ -------------------------------------------------------
Status Code Status Description
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
09 Forbearance
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
24 Government Seizure
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
26 Refinance
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
27 Assumption
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
28 Modification
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
29 Charge-Off
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
30 Third Party Sale
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
31 Probate
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
32 Military Indulgence
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
43 Foreclosure Started
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
44 Deed-in-Lieu Started
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
49 Assignment Completed
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
61 Second Lien Considerations
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
62 Veteran's Affairs-No Bid
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
63 Veteran's Affairs-Refund
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
64 Veteran's Affairs-Buydown
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
65 Chapter 7 Bankruptcy
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
66 Chapter 11 Bankruptcy
------------------------ -------------------------------------------------------
------------------------ -------------------------------------------------------
67 Chapter 13 Bankruptcy
------------------------ -------------------------------------------------------
B-7
Exhibit D-2: Standard File Layout - Scheduled/Scheduled
----------------------------------------------------------------------------------------------------------------------
Column Name Description Decimal Format Comment Max
Size
----------------------------------------------------------------------------------------------------------------------
SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
----------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10
by the investor.
----------------------------------------------------------------------------------------------------------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the LOAN_NBR.
----------------------------------------------------------------------------------------------------------------------
BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, 30
file. It is not separated by first and First)
last name.
----------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs 11
interest payment that a borrower is ($)
expected to pay, P&I constant.
----------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
----------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the
Servicer.
----------------------------------------------------------------------------------------------------------------------
SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
----------------------------------------------------------------------------------------------------------------------
SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
----------------------------------------------------------------------------------------------------------------------
NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs 11
by the Servicer. ($)
----------------------------------------------------------------------------------------------------------------------
NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
----------------------------------------------------------------------------------------------------------------------
ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6
calculate a forecasted rate.
----------------------------------------------------------------------------------------------------------------------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the beginning of the processing cycle. ($)
----------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the end of the processing cycle. ($)
----------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10
that the borrower's next payment is due
to the Servicer, as reported by Servicer.
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
----------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
----------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
----------------------------------------------------------------------------------------------------------------------
B-8
----------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
----------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
----------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
----------------------------------------------------------------------------------------------------------------------
Action Code Key: 2
15=Bankruptcy, 30=Foreclosure,
, 60=PIF, 63=Substitution,
65=Repurchase,70=REO
-----------------------------------------------
ACTION_CODE The standard FNMA numeric code used to indicate the
default/delinquent status of a particular loan.
----------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
----------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs 11
if applicable. ($)
----------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs 11
applicable. ($)
----------------------------------------------------------------------------------------------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs 11
loss, if applicable. ($)
----------------------------------------------------------------------------------------------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs 11
amount due at the beginning of the cycle ($)
date to be passed through to investors.
----------------------------------------------------------------------------------------------------------------------
SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs 11
investors at the end of a processing ($)
cycle.
----------------------------------------------------------------------------------------------------------------------
SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11
reported by the Servicer for the current ($)
cycle -- only applicable for
Scheduled/Scheduled Loans.
----------------------------------------------------------------------------------------------------------------------
SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs 11
the service fee amount for the current ($)
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
----------------------------------------------------------------------------------------------------------------------
ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs 11
the Servicer for the current reporting ($)
cycle -- only applicable for
Actual/Actual Loans.
----------------------------------------------------------------------------------------------------------------------
ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs 11
service fee amount for the current ($)
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
----------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11
borrower prepays on his loan as reported ($)
by the Servicer.
----------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs 11
loan waived by the servicer. ($)
----------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
----------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha 30
or numeric
----------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs 11
interest advances made by Servicer. ($)
----------------------------------------------------------------------------------------------------------------------
B-9
Exhibit D-3: Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and all
credits as separate line items. Claim packages are due on the remittance
report date. Late submissions may result in claims not being passed until
the following month. The Servicer is responsible to remit all funds pending
loss approval and /or resolution of any disputed items.
The numbers on the 332 form correspond with the numbers listed below.
Liquidation and Acquisition Expenses:
1. The Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced
is required.
2. The Total Interest Due less the aggregate amount of servicing fee that
would have been earned if all delinquent payments had been made as
agreed. For documentation, an Amortization Schedule from date of
default through liquidation breaking out the net interest and
servicing fees advanced is required.
3. Accrued Servicing Fees based upon the Scheduled Principal Balance of
the Mortgage Loan as calculated on a monthly basis. For documentation,
an Amortization Schedule from date of default through liquidation
breaking out the net interest and servicing fees advanced is required.
4-12. Complete as applicable. Required documentation:
* For taxes and insurance advances - see page 2 of 332 form -
breakdown required showing period of coverage, base tax, interest,
penalty. Advances prior to default require evidence of servicer
efforts to recover advances.
* For escrow advances - complete payment history (to calculate
advances from last positive escrow balance forward)
* Other expenses - copies of corporate advance history showing
all payments
* REO repairs > $1500 require explanation
* REO repairs >$3000 require evidence of at least 2 bids.
* Short Sale or Charge Off require P&L supporting the decision
and WFB's approved Servicing Officer certification
* Unusual or extraordinary items may require further
documentation.
13. The total of lines 1 through 12.
Credits:
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a 3rd Party Sale, bid
instructions and Escrow Agent / Attorney Letter of Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined on the 332 form
22. The total of lines 14 through 21.
B-10
Please Note: For HUD/VA loans, use line (18a) for Part A/Initial
proceeds and line (18b) for Part B/Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
23. The total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis ( ).
B-11
Exhibit 3A: Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
---------------------------------- -------------------------------------- --------------------------------------------
Servicer Loan No. Servicer Name Servicer Address
---------------------------------- -------------------------------------- --------------------------------------------
XXXXX FARGO BANK, N.A. Loan No._____________________________
Borrower's Name: _________________________________________________________
Property Address: _________________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount _______________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $ ______________ (1)
(2) Interest accrued at Net Rate ______________ (2)
(3) Accrued Servicing Fees ______________ (3)
(4) Attorney's Fees ______________ (4)
(5) Taxes (see page 2) ______________ (5)
(6) Property Maintenance ______________ (6)
(7) MI/Hazard Insurance Premiums (see page 2) ______________ (7)
(8) Utility Expenses ______________ (8)
(9) Appraisal/BPO ______________ (9)
(10) Property Inspections ______________ (10)
(11) FC Costs/Other Legal Expenses ______________ (11)
(12) Other (itemize) ______________ (12)
B-12
Cash for Keys__________________________ ______________ (12)
HOA/Condo Fees_______________________ ______________ (12)
______________________________________ ______________ (12)
Total Expenses $ _____________ (13)
Credits:
(14) Escrow Balance $ _____________ (14)
(15) HIP Refund _____________ (15)
(16) Rental Receipts _____________ (16)
(17) Hazard Loss Proceeds _____________ (17)
(18) Primary Mortgage Insurance / Gov't Insurance _____________ (18a) HUD Part A
_____________ (18b) HUD Part B
(19) Pool Insurance Proceeds _____________ (19)
(20) Proceeds from Sale of Acquired Property _____________ (20)
(21) Other (itemize) _____________ (21)
_________________________________________ _____________ (21)
Total Credits $ _____________ (22)
Total Realized Loss (or Amount of Gain) $ _____________ (23)
B-13
Escrow Disbursement Detail
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
Coverage
(Tax /Ins.)
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
B-14
APPENDIX I
Servicing Agreement
[Included as Exhibit 10.3(A) to the Current Report on Form 8-K pursuant
to which this Assignment, Assumption and Recognition Agreement is filed.]
