Assignment Of Representations And Warranties Agreement

Assignment of Representations and Warranties Agreement

 

EXHIBIT 10.8 

 

EXECUTION COPY

 

ASSIGNMENT OF REPRESENTATIONS AND WARRANTIES AGREEMENT

 

This is an Assignment of Representations and Warranties Agreement (the “Agreement”) made as of the 21st day of September, 2012, among Redwood Residential Acquisition Corporation, a Delaware corporation (“Assignor”), Sequoia Residential Funding, Inc., a Delaware corporation (“Depositor”), Christiana Trust, a division of Wilmington Savings Fund Society, FSB, a federal savings bank, not in its individual capacity but solely as trustee (in such capacity, the “Trustee” or the “Assignee”) under a Pooling and Servicing Agreement dated as of September 1, 2012, among the Depositor, Wells Fargo Bank, N.A., as master servicer and securities administrator, and the Trustee (the “Pooling and Servicing Agreement”), and United Shore Financial Services, LLC, a Michigan limited liability company (“Shore”).

 

In consideration of the mutual promises contained herein, the parties hereto agree that the mortgage loans (the “Mortgage Loans”) listed on Attachment 1 annexed hereto (the “Mortgage Loan Schedule”) are subject to the terms of the Flow Mortgage Loan Purchase and Sale Agreement dated as of December 1, 2011, between Assignor and Shore (the “Purchase Agreement”) as modified or supplemented by this Agreement. Unless otherwise specified herein, capitalized terms used herein but not defined shall have the meanings ascribed to them in the Purchase Agreement. Assignor will sell the Mortgage Loans to Depositor pursuant to a Mortgage Loan Purchase and Sale Agreement dated the date hereof, and Depositor will sell the Mortgage Loans to Assignee pursuant to the Pooling and Servicing Agreement.

 

Assignment

 

1.          Assignor hereby grants, transfers and assigns to Depositor all of its right, title and interest in, to and under the representations and warranties made by Shore pursuant to Subsection 7.01 and Subsection 7.02 of the Purchase Agreement to the extent relating to the Mortgage Loans, and Depositor hereby accepts such assignment from Assignor.

 

2.          Depositor hereby grants, transfers and assigns to Assignee all of its right, title and interest in, to and under the representations and warranties made by Shore pursuant to Subsection 7.01 and Subsection 7.02 of the Purchase Agreement to the extent relating to the Mortgage Loans, Depositor is released from all obligations under the Purchase Agreement, and Assignee hereby accepts such assignment from Depositor.

 

3.          Shore hereby acknowledges the foregoing assignments.

 

 
 

 

Representations and Warranties

 

4.          Assignor warrants and represents to, and covenants with, Depositor, Assignee and Shore as of the date hereof that:

 

(a)          Attached hereto as Attachment 2 is a true and accurate copy of the Purchase Agreement, which agreement is in full force and effect as of the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice of termination been given thereunder;

 

(b)          Assignor is the lawful owner of its interests and rights under the Purchase Agreement to the extent of the Mortgage Loans, free and clear from any and all claims and encumbrances whatsoever, and upon the transfer of the representations and warranties to Assignee as contemplated herein, Assignee shall have good title to such representations and warranties under the Purchase Agreement to the extent of the Mortgage Loans, free and clear of all liens, claims and encumbrances;

 

(c)          There are no offsets, counterclaims or other defenses available to Shore with respect to the Purchase Agreement;

 

(d)          Assignor is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite power and authority to enter into and perform its obligations under the Purchase Agreement;

 

(e)          Assignor has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of Assignor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of Assignor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Assignor is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which Assignor or its property is subject. The execution, delivery and performance by Assignor of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of Assignor. This Agreement has been duly executed and delivered by Assignor and, upon the due authorization, execution and delivery by Assignee, will constitute the valid and legally binding obligation of Assignor enforceable against Assignor in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law; and

 

(f)          No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by Assignor in connection with the execution, delivery or performance by Assignor of this Agreement, or the consummation by it of the transactions contemplated hereby.

 

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5.          Depositor warrants and represents to, and covenants with, Assignor, Assignee and Shore that as of the date hereof:

 

(a)          Depositor is a Delaware corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation;

 

(b)          Depositor has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of Depositor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of Depositor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Depositor is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which Depositor or its property is subject. The execution, delivery and performance by Depositor of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Depositor. This Agreement has been duly executed and delivered by Depositor and, upon the due authorization, execution and delivery by the other parties hereto, will constitute the valid and legally binding obligation of Depositor enforceable against Depositor in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law; and

 

(c)          No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by Depositor in connection with the execution, delivery or performance by Depositor of this Agreement, or the consummation by it of the transactions contemplated hereby other than any that have been obtained or made.

 

6.          Assignee warrants and represents to, and covenants with, Assignor, Depositor and Shore that as of the date hereof:

 

(a)          Assignee is a federal savings bank duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization; and

 

(b)          Assignee has been directed to enter into this Agreement pursuant to the provisions of the Pooling and Servicing Agreement. The execution, delivery and performance by Assignee of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary action on part of Assignee. This Agreement has been duly executed and delivered by Assignee and, upon the due authorization, execution and delivery by the other parties hereto, will constitute the valid and legally binding obligation of Assignee enforceable against Assignee in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law.

 

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7.          Shore warrants and represents to, and covenants with, Assignor, Depositor and Assignee as of the date hereof that:

 

(a)          Attached hereto as Attachment 2 is a true and accurate copy of the Purchase Agreement, which agreement is in full force and effect as of the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice of termination been given thereunder;

 

(b)          Shore is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite power and authority to perform its obligations under the Purchase Agreement;

 

(c)          Shore has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of Shore’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of Shore’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Shore is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which Shore or its property is subject. The execution, delivery and performance by Shore of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Shore. This Agreement has been duly executed and delivered by Shore and, upon the due authorization, execution and delivery by Assignor, Assignee and the Depositor, will constitute the valid and legally binding obligation of Shore enforceable against Shore in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law; and

 

(d)          No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by Shore in connection with the execution, delivery or performance by Shore of this Agreement, or the consummation by it of the transactions contemplated hereby.

 

Restated Shore Representations and Warranties

 

8.          Pursuant to Section 32(d) of the Purchase Agreement, Shore hereby restates to Depositor and Assignee (a) the representations and warranties set forth in Subsection 7.01 of the Purchase Agreement as of the related Closing Date with respect to each Mortgage Loan and (b) the representations and warranties set forth in Subsection 7.02 of the Purchase Agreement as of the date hereof, as if such representations and warranties were set forth herein in full.

 

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In the event of a breach of any representations and warranties referred to in clauses (a) or (b) above as of the related Closing Date or the date hereof, as the case may be, Assignee shall be entitled to all the remedies under Subsection 7.03 and Subsection 12.01 of the Purchase Agreement, including, without limitation, the right to compel Shore to repurchase Mortgage Loans pursuant to Section 7.03 of the Purchase Agreement, subject to the provisions of Section 10 of this Agreement.

 

Recognition of Assignee

 

9.          From and after the date hereof, subject to Section 10 below, Shore shall recognize Assignee as owner of the Mortgage Loans and will perform its obligations hereunder for the benefit of the Assignee in accordance with the Purchase Agreement, as modified hereby or as may be amended from time to time, as if Assignee and Shore had entered into a separate purchase agreement for the purchase of the Mortgage Loans in the form of the Purchase Agreement, the terms of which are incorporated herein by reference, as amended by this Agreement.

 

Enforcement of Rights

 

10.         (a)          Controlling Holder Rights. Shore agrees and acknowledges that Sequoia Mortgage Funding Corporation, an Affiliate of the Depositor, in its capacity as the initial Controlling Holder pursuant to the Pooling and Servicing Agreement, and for so long as it is the Controlling Holder, will exercise all of Assignee's rights as Purchaser under the following section of the Purchase Agreement:

 

Purchase Agreement:

 

Section or Subsection   Matter
     
7.03, other than 7.03(c)  

Repurchase and Substitution 


 

(b)          If there is no Controlling Holder under the Pooling and Servicing Agreement, then all rights that are to be exercised by the Controlling Holder pursuant to Section 10(a) shall be exercised by Assignee.

 

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Amendments to Purchase Agreement

 

11.         The parties agree that the Purchase Agreement shall be amended, solely with respect to the Mortgage Loans, as follows:

  

(a)          Definitions.

 

(i)          The definitions of “Business Day” and “Repurchase Price” set forth in Section 1 of the Purchase Agreement shall be deleted and replaced in their entirety as follows:

 

Business Day: Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in the states of California, Delaware, Maryland, Michigan, Minnesota, Missouri or New York, (iii) a day on which banks in the states of California, Delaware, Maryland, Michigan, Minnesota, Missouri or New York, are authorized or obligated by law or executive order to be closed or (iv) a day on which the New York Stock Exchange or the Federal Reserve Bank of New York is closed.         

 

Repurchase Price: With respect to any Mortgage Loan, a price equal to (i) the unpaid principal balance of the Mortgage Loan, plus (ii) interest on such unpaid principal balance at the related Mortgage Interest Rate from the last date through which interest was last paid by or on behalf of the Mortgagor to the last day of the month in which such repurchase occurs, plus (iii) reasonable and customary third party expenses incurred in connection with the transfer of the Mortgage Loan being repurchased, minus (iv) any amounts received in respect of such repurchased Mortgage Loan and being held for future distribution in connection with such Mortgage Loan.

 

(b)          The following sentence shall be added as the new third sentence of Subsection 7.03(a):

 

Each determination as to whether there has been such a breach shall be conducted on a Mortgage Loan-by-Mortgage Loan basis.

 

(c)          The rights under the Purchase Agreement assigned to the Depositor and the Assignee pursuant to this Agreement shall be under the Purchase Agreement as amended by this Agreement.

 

Miscellaneous

 

12.         All demands, notices and communications related to the Mortgage Loans, the Purchase Agreement and this Agreement shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid, as follows:

 

(a)          In the case of Shore,

 

United Shore Financial Services, LLC

555 S. Adams Road

Birmingham, Michigan 48009

Attention: Chief Executive Officer

 

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Phone: (248) 833-0459

Facsimile: (248) 554-6049

 

with a copy to

 

General Counsel at the same address

 

(b)          In the case of Assignee,

 

Christiana Trust, a division of Wilmington Savings Fund Society, FSB

500 Delaware Avenue, 11th Floor

Wilmington, Delaware, 19801

Attention: Corporate Trust

 

(c)          In the case of Depositor,

 

Sequoia Residential Funding, Inc.

One Belvedere Place, Suite 360

Mill Valley, California 94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the same address

 

(d)          In the case of Assignor,

 

Redwood Residential Acquisition Corporation

One Belvedere Place, Suite 360

Mill Valley, California 94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the same address

 

(e)          In the case of Master Servicer,

 

Wells Fargo Bank, N.A.

9062 Old Annapolis Road

Columbia, Maryland 21045)

Telephone number: (410) 884-2000

Facsimile number: (410) 715-2380

Attention: Client Manager — Sequoia Mortgage Trust 2012-4

 

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(f)          In the case of the initial Controlling Holder,

 

Sequoia Mortgage Funding Corporation

One Belvedere Place, Suite 360

Mill Valley, California 94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the same address

 

13.         This Agreement shall be construed in accordance with the laws of the State of New York, except to the extent preempted by Federal law, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without regard to the conflicts of laws provisions of the State of New York or any other jurisdiction.

 

14.         No term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the party against whom such waiver or modification is sought to be enforced.

 

15.         This Agreement shall inure to the benefit of the successors and assigns of the parties hereto. Any entity into which Assignor, Depositor, Assignee or Shore may be merged or consolidated shall, without the requirement for any further writing, be deemed Assignor, Depositor, Assignee or Shore, respectively, hereunder.

 

16.         This Agreement shall survive the conveyance of the Mortgage Loans, the assignment of the representations and warranties made by Shore pursuant to the Purchase Agreement to the extent of the Mortgage Loans by Assignor to Depositor and by Depositor to Assignee, and the termination of the Purchase Agreement.

 

17.         This Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument.

 

18.         The Controlling Holder under the Pooling and Servicing Agreement is an express third party beneficiary of this Agreement, and shall have the same power and ability to exercise and enforce the rights stated to be provided to it hereunder as if it were a signatory hereto. Shore hereby consents to such exercise and enforcement.

 

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19.         It is expressly understood and agreed by the parties hereto that insofar as this Agreement is executed by the Trustee (i) this Agreement is executed and delivered by Christiana Trust, a division of Wilmington Savings Fund Society, FSB (“Christiana Trust”) not in its individual capacity but solely as Trustee on behalf of the trust created by the Pooling and Servicing Agreement referred to herein (the “Trust”) in the exercise of the powers and authority conferred upon and vested in it, and as directed in the Pooling and Servicing Agreement, (ii) each of the undertakings and agreements herein made on behalf of the Trust is made and intended not as a personal undertaking or agreement of or by Christiana Trust but is made and intended for purposes of binding only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of Christiana Trust, individually or personally, to perform any covenant either express or implied in this Agreement, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (iv) under no circumstances shall Christiana Trust in its individual capacity or in its capacity as Trustee be personally liable for the payment of any indebtedness, amounts or expenses owed by the Assignor under the Purchase Agreement, as modified or supplemented by this Agreement (such indebtedness, expenses and other amounts being payable solely from and to the extent of funds of the Trust) or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made under this Agreement or any other related documents.

 

20.         Master Servicer. Shore hereby acknowledges that the Assignee has appointed Wells Fargo Bank, N.A. to act as master servicer and securities administrator under the Pooling and Servicing Agreement and hereby agrees to treat all inquiries, demands, instructions, authorizations and other communications from the Master Servicer as if the same had been received from the Assignee. The Master Servicer, acting on behalf of the Assignee, shall have the rights of the Assignee as the Purchaser under this Agreement, including, without limitation, the right to enforce the obligations of Shore hereunder and under the Purchase Agreement and the right to exercise the remedies of the Purchaser hereunder and under the Purchase Agreement.

 

Shore shall make all remittances due by it to the Purchaser with respect to the Mortgage Loans to the following account by wire transfer of immediately available funds:

 

Wells Fargo Bank, N.A.

San Francisco, California

ABA# 121-000-248

Account #3970771416

Account Name: SAS Clearing

FFC: Account #48174300, Sequoia Mortgage Trust 2012-4 Distribution Account

 

21.         Shore acknowledges that the custodian will be Wells Fargo Bank, N.A. acting pursuant to the Custodial Agreement. Notwithstanding Section 10 of the Purchase Agreement, if there has been a breach of any representation or warranty made with respect to the related Mortgage Loan in Subsection 7.01 of the Purchase Agreement, Shore shall pay shipping expenses for sending any Mortgage Loan Documents to Shore or as otherwise necessary to cure such breach.

 

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22.         Rule 17g-5 Compliance. Shore hereby agrees that it shall provide any information with respect to the Mortgage Loans or the origination thereof that it is reasonably requested to provide to any Rating Agency or nationally recognized statistical rating organization (“NRSRO”) via electronic mail at rmbs17g5informatio[email protected], with a subject reference of “SEMT 2012-4” and an identification of the type of information being provided in the body of such electronic mail. The Securities Administrator, as the initial Rule 17g-5 Information Provider (the “Rule 17g-5 Information Provider”) shall notify Shore in writing of any change in the identity or contact information of the Rule 17g-5 Information Provider. Shore shall have no liability for (i) the Rule 17g-5 Information Provider’s failure to post information provided by it in accordance with the terms of this Agreement or (ii) any malfunction or disabling of the website maintained by the Rule 17g-5 Information Provider. None of the foregoing restrictions in this Section 22 prohibit or restrict oral or written communications, or providing information, between Shore, on the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the ratings it assigns to Shore or (ii) such Rating Agency’s or NRSRO’s evaluation of Shore’s operations in general; provided, however, that Shore shall not provide any information relating to the Mortgage Loans to such Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO unless: (x) borrower, property or deal specific identifiers are redacted; or (y) such information has already been provided to the Rule 17g-5 Information Provider.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written.

 

  REDWOOD RESIDENTIAL ACQUISITION
CORPORATION
  Assignor
     
  By: /s/ John Isbrandtsen
  Name: John Isbrandtsen 
  Title: Authorized Officer
     
  SEQUOIA RESIDENTIAL FUNDING, INC.
  Depositor
     
  By: /s/ John Isbrandtsen 
  Name: John Isbrandtsen  
  Title: Authorized Officer 
     
 

Christiana Trust, a division of
Wilmington Savings Fund Society
, FSB,
not in its individual capacity but solely as Trustee,

  Assignee
     
  By: /s/ Jeffrey R. Everhart
  Name: Jeffrey R. Everhart 
  Title: AVP
     
  United Shore Financial Services, LLC
     
  By: /s/ Kip Kirkpatrick
  Name: Kip Kirkpatrick 
  Title: CEO

 

Accepted and agreed to by:  
   
WELLS FARGO BANK, N.A.  
Master Servicer  
     
By: /s/ Graham M. Oglesby  
Name: Graham M. Oglesby   
Title: Vice President  

 

Signature Page – Assignment of Representations and Warranties – United Shore Financial (SEMT 2012-4)

 

 
 

 

ATTACHMENT 1

 

MORTGAGE LOAN SCHEDULE

 

 

Primary
Servicer
  Servicing Fee %  

Servicing
Fee—Flatdollar

 

Servicing Advance

Methodology

  Originator   Loan Group   Loan Number   Amortization
Type
  Lien Position  

HELOC

Indicator

1000383   0.002500           1000324       1311122076   1   1   0
1000383   0.002500           1000324       1312121374   1   1   0
1000383   0.002500           1000324       1312121460   1   1   0
1000383   0.002500           1000324       1312122038   1   1   0
1000383   0.002500           1000324       1312122086   1   1   0
1000383   0.002500           1000324       1351205608   1   1   0
1000383   0.002500           1000324       1351206300   1   1   0
1000383   0.002500           1000324       1351207180   1   1   0
1000383   0.002500           1000324       1351207433   1   1   0
1000383   0.002500           1000324       1351209543   1   1   0
1000383   0.002500           1000324       1351210452   1   1   0
1000383   0.002500           1000324       1351210837   1   1   0
1000383   0.002500           1000324       1351211426   1   1   0
1000383   0.002500           1000324       1351211705   1   1   0
1000383   0.002500           1000324       1351211907   1   1   0
1000383   0.002500           1000324       1351211933   1   1   0
1000383   0.002500           1000324       1351213354   1   1   0
1000383   0.002500           1000324       1351213992   1   1   0
1000383   0.002500           1000324       1351214232   1   1   0
1000383   0.002500           1000324       1351214874   1   1   0
1000383   0.002500           1000324       1351215171   1   1   0
1000383   0.002500           1000324       1351215263   1   1   0
1000383   0.002500           1000324       1351215541   1   1   0
1000383   0.002500           1000324       1351215628   1   1   0
1000383   0.002500           1000324       1351218206   1   1   0
1000383   0.002500           1000324       1351218527   1   1   0
1000383   0.002500           1000324       1351221600   1   1   0
1000383   0.002500           1000324       1351222604   1   1   0
1000383   0.002500           1000324       1451211951   1   1   0
1000383   0.002500           1000324       1451216800   1   1   0
1000383   0.002500           1000324       1612451068   1   1   0
1000383   0.002500           1000324       1351223389   1   1   0

 

 
 

 

Loan Purpose  

Cash Out

Amount

 

Total Origination

and Discount

Points

 

Covered/High

Cost Loan

Indicator

 

Relocation Loan

Indicator

 

Broker

Indicator

  Channel  

Escrow

Indicator

 

Senior Loan

Amount(s)

 

Loan Type of
Most

Senior Lien

9                       1   0   0    
9                       1   4   0    
9                       1   0   0    
9                       1   0   0    
9                       1   0   0    
9                       2   4   0    
9                       2   0   0    
6                       2   4   0    
9                       2   0   0    
7                       2   4   0    
7                       2   4   0    
9                       2   4   0    
7                       2   0   0    
9                       2   0   0    
7                       2   4   0    
9                       2   0   0    
9                       2   4   0    
9                       2   4   0    
7                       2   4   0    
7                       2   4   0    
9                       2   4   0    
7                       2   4   0    
7                       2   4   0    
9                       2   4   0    
9                       2   4   0    
7                       2   0   0    
7                       2   4   0    
7                       2   4   0    
9                       5   4   0    
9                       1   4   0    
9                       1   0   0    
7                       2   4   0    

 

 
 

 

Hybrid Period of
Most Senior Lien
(in

months)

 

Neg Am Limit of

Most Senior Lien

 

Junior Mortgage

Balance

 

Origination Date of

Most Senior Lien

  Origination Date  

Original Loan

Amount

 

Original

Interest

Rate

 

Original

Amortization
Term

 

Original Term
to

Maturity

  First Payment
Date
of Loan
        0.00       20120217   800000.00   0.047500   360   360   20120401
        0.00       20120529   766500.00   0.040000   360   360   20120801
        0.00       20120531   773000.00   0.047500   360   360   20120701
        0.00       20120620   506500.00   0.042500   360   360   20120801
        0.00       20120703   490720.00   0.041250   360   360   20120901
        0.00       20120316   840000.00   0.037500   180   180   20120501
        0.00       20120330   727000.00   0.041250   180   180   20120601
        0.00       20120525   688000.00   0.047500   360   360   20120701
        0.00       20120516   530000.00   0.045000   360   360   20120701
        0.00       20120618   781600.00   0.042500   360   360   20120801
        0.00       20120606   532500.00   0.045000   360   360   20120701
        0.00       20120521   594000.00   0.042500   360   360   20120701
        0.00       20120510   895000.00   0.045000   360   360   20120701
        75000.00       20120521   501000.00   0.045000   360   360   20120701
        0.00       20120605   640000.00   0.047500   360   360   20120801
        0.00       20120621   737000.00   0.041250   360   360   20120801
        0.00       20120529   648000.00   0.045000   360   360   20120701
        0.00       20120718   796850.00   0.043750   360   360   20120901
        0.00       20120523   700000.00   0.041250   360   360   20120701
        0.00       20120517   949900.00   0.045000   360   360   20120701
        0.00       20120611   493600.00   0.046250   360   360   20120801
        0.00       20120607   597100.00   0.045000   360   360   20120801
        0.00       20120529   1327000.00   0.045000   360   360   20120701
        0.00       20120622   925000.00   0.043750   360   360   20120801
        0.00       20120625   920000.00   0.043750   360   360   20120801
        0.00       20120702   608000.00   0.041250   360   360   20120901
        0.00       20120723   696000.00   0.043750   360   360   20120901
        0.00       20120712   642400.00   0.045000   360   360   20120901
        0.00       20120622   574000.00   0.045000   360   360   20120801
        0.00       20120606   538500.00   0.045000   360   360   20120801
        0.00       20120607   941000.00   0.043750   360   360   20120801
        0.00       20120712   517440.00   0.042500   360   360   20120901

 

 
 

 

Interest Type
Indicator
  Original Interest
Only Term
  Buy Down Period   HELOC Draw
Period
  Current Loan
Amount
  Current
Interest
Rate
  Current
Payment
Amount Due
  Interest Paid
Through Date
  Current
Payment
Status
  Index Type
1   0   0       793900.84   0.047500   4173.18   20120901   0   0
1   0   0       764287.54   0.040000   3659.39   20120901   0   0
1   0   0       771047.21   0.047500   4032.33   20120901   0   0
1   0   0       505101.88   0.042500   2491.68   20120901   0   0
1   0   0       490028.58   0.041250   2378.27   20120901   0   0
1   0   0       821251.11   0.037500   6108.67   20120901   0   0
1   0   0       715243.04   0.041250   5423.18   20120901   0   0
1   0   0       685392.90   0.047500   3588.93   20120901   0   0
1   0   0       527898.34   0.045000   2685.43   20120901   0   0
1   0   0       779442.51   0.042500   3845.00   20120901   0   0
1   0   0       529986.19   0.045000   2698.10   20120901   0   0
1   0   0       591389.54   0.042500   2922.12   20120901   0   0
1   0   0       891450.97   0.045000   4534.83   20120901   0   0
1   0   0       498951.38   0.045000   2538.49   20120901   0   0
1   0   0       638386.40   0.047500   3338.54   20120901   0   0
1   0   0       734919.57   0.041250   3571.87   20120901   0   0
1   0   0       645430.42   0.045000   3283.32   20120901   0   0
1   0   0       795776.63   0.043750   3978.55   20120901   0   0
1   0   0       697030.92   0.041250   3392.55   20120901   0   0
1   0   0       946133.27   0.045000   4813.00   20120901   0   0
1   0   0       492326.80   0.046250   2537.79   20120901   0   0
1   0   0       595372.63   0.045000   3025.42   20120901   0   0
1   0   0       1321737.93   0.045000   6723.71   20120901   0   0
1   0   0       922503.47   0.043750   4618.39   20120901   0   0
1   0   0       917516.97   0.043750   4593.42   20120901   0   0
1   0   0       607143.33   0.041250   2946.67   20120901   0   0
1   0   0       695062.47   0.043750   3475.03   20120901   0   0
1   0   0       641554.05   0.045000   3254.95   20120901   0   0
1   0   0       572485.42   0.045000   2908.37   20120901   0   0
1   0   0       537079.09   0.045000   2728.50   20120901   0   0
1   0   0       938460.30   0.043750   4698.27   20120901   0   0
1   0   0       516727.11   0.042500   2545.49   20120901   0   0

 

 
 

 

ARM Look-back
Days
  Gross Margin   ARM Round Flag   ARM Round
Factor
  Initial Fixed Rate
Period
  Initial Interest
Rate
Cap (Change
Up)
  Initial Interest
Rate
Cap (Change
Down)
  Subsequent
Interest
Rate Reset
Period
  Subsequent
Interest
Rate Cap
(Change Down)
  Subsequent
Interest
Rate Cap
(Change
Up)
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

 
 

 

Lifetime
Maximum
Rate (Ceiling)
  Lifetime Minimum
Rate (Floor)
  Negative
Amortization
Limit
  Initial Negative
Amortization
Recast
Period
  Subsequent
Negative
Amortization
Recast
Period
  Initial Fixed
Payment Period
  Subsequent
Payment Reset
Period
  Initial Periodic
Payment Cap
  Subsequent
Periodic Payment
Cap
  Initial Minimum
Payment
Reset
Period
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

 
 

 

Subsequent
Minimum
Payment
Reset Period
  Option ARM
Indicator
  Options at
Recast
  Initial Minimum
Payment
  Current
Minimum
Payment
  Prepayment
Penalty
Calculation
  Prepayment
Penalty
Type
  Prepayment
Penalty
Total Term
  Prepayment
Penalty
Hard Term
  Primary
Borrower ID
                            0       295
                            0       156
                            0       307
                            0       157
                            0       119
                            0       45
                            0       200
                            0       52
                            0       68
                            0       166
                            0       113
                            0       42
                            0       255
                            0       69
                            0       193
                            0       317
                            0       164
                            0       152
                            0       112
                            0       352
                            0       4
                            0       23
                            0       106
                            0       272
                            0       335
                            0       105
                            0       154
                            0       250
                            0       331
                            0       173
                            0       162
                            0       49

 

 
 

 

Number of
Mortgaged
Properties
  Total Number of
Borrowers
  Self-employment
Flag
  Current ‘Other’
Monthly
Payment
  Length of
Employment:
Borrower
  Length of
Employment: Co-
Borrower
  Years in Home   FICO Model Used   Most Recent
FICO
Date
  Primary Wage
Earner
Original
FICO: Equifax
2       0       4   6   4   1   8/3/2012    
2       1       25   0   16   1        
4       0       5   17   4   1        
1       0       12       8   1        
1       0       3.75   13.5   12.5   1        
1       0       2   1   3   1   8/3/2012    
2       1       22   9   3   1        
1       0       5.25   0.25   0   1        
1       1       35       15   1        
2       0       1       0   1        
1       0       1.5       0   1        
1       1       20   0   8   1        
2       1       3   0   0   1        
1       0       4.5   0   7   1        
1       0       6   5   0   1        
2       0       0   2   7   1        
3       0       19   16   2   1        
4       1       21.5   2   0   1        
2       0       20       0   1        
2       1       11   5   0   1        
1       0       14       5   1        
1       0       4   0   0   1        
1       1       6   0   0   1        
3       1       29       25   1        
2       1       19       5   1        
3       1       6   7   0   1        
1       0       18       0   1        
2       1       21.25   16   0   1        
1       0       5   2   6   1        
2       0       8   5   9   1        
1       0       29       16   1        
2       0       15       0   1        

 

 
 

 

Primary Wage
Earner Original
FICO: Experian
  Primary Wage
Earner Original
FICO: TransUnion
  Secondary Wage
Earner Original
FICO: Equifax
  Secondary Wage
Earner Original
FICO: Experian
  Secondary Wage
Earner Original
FICO: TransUnion
  Original
Primary
Borrower
FICO
  Most Recent
Primary
Borrower
FICO
  Most Recent Co-
Borrower FICO
  Most Recent
FICO
Method
  VantageScore:
Primary Borrower
                    801   754            
                    769                
                    760                
                    725                
                    808                
                    795   798            
                    808                
                    764                
                    767                
                    761                
                    788                
                    787                
                    778                
                    768                
                    775                
                    755                
                    781                
                    767                
                    774                
                    798                
                    766                
                    761                
                    784                
                    779                
                    723                
                    782                
                    790                
                    765                
                    783                
                    788                
                    738                
                    791                

 

 
 

 

VantageScore:
Co-
Borrower
  Most Recent
VantageScore
Method
  VantageScore
Date
  Credit Report:
Longest Trade
Line
  Credit Report:
Maximum
Trade
Line
  Credit Report:
Number of Trade
Lines
  Credit Line
Usage
Ratio
  Most Recent 12-
month Pay
History
  Months
Bankruptcy
  Months
Foreclosure
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        
                            000000000000        

 

 
 

 

Primary
Borrower
Wage Income
  Co-Borrower
Wage
Income
  Primary
Borrower
Other Income
  Co-Borrower
Other
Income
  All Borrower
Wage
Income
  All Borrower
Total
Income
  4506-T
Indicator
  Borrower Income
Verification Level
  Co-Borrower
Income
Verification
  Borrower
Employment
Verification
16666.66   3837.83   -2533.70   0.00   20504.49   17970.79   1   5       3
32232.00   0.00   0.00   0.00   32232.00   32232.00   1   5       3
17624.53   6025.00   0.00   0.00   23649.53   23649.53   1   5       3
15215.45       0.00       15215.45   15215.45   1   5       3
6039.33   5065.74   3422.86   0.00   11105.07   14527.93   1   5       3
39131.34   0.00   0.00   0.00   39131.34   39131.34   1   5       3
23731.46   15577.10   -8923.72   0.00   39308.56   30384.84   1   5       3
10850.00   9166.65   0.00   0.00   20016.65   20016.65   1   5       3
7130.50       439.42       7130.50   7569.92   1   5       3
22083.34       5860.05       22083.34   27943.39   1   5       3
21000.00       0.00       21000.00   21000.00   1   5       3
16111.42   0.00   0.00   0.00   16111.42   16111.42   1   4       3
104633.75   0.00   0.00   0.00   104633.75   104633.75   1   4       3
19048.30   0.00   0.00   0.00   19048.30   19048.30   1   5       3
15548.41   0.00   0.00   0.00   15548.41   15548.41   1   5       3
8782.25   4145.29   1199.75   0.00   12927.54   14127.29   1   5       3
10462.20   6856.88   1251.50   0.00   17319.08   18570.58   1   5       3
72910.92   0.00   0.00   0.00   72910.92   72910.92   1   5       3
34783.12       0.00       34783.12   34783.12   1   5       3
188439.22   0.00   0.00   0.00   188439.22   188439.22   1   5       3
13665.51       0.00       13665.51   13665.51   1   5       3
0.00   0.00   22712.09   0.00   0.00   22712.09   1   5       3
23938.09   0.00   0.00   0.00   23938.09   23938.09   1   5       3
25327.69       0.00       25327.69   25327.69   1   4       3
30083.96       0.00       30083.96   30083.96   1   5       3
17289.24   0.00   0.00   0.00   17289.24   17289.24   1   5       3
11647.70   0.00   5185.49   0.00   11647.70   16833.19   1   5       3
6534.42   14087.66   0.00   0.00   20622.08   20622.08   1   5       3
7301.19   5620.57   0.00   0.00   12921.76   12921.76   1   5       3
17916.66   7606.19   0.00   0.00   25522.85   25522.85   1   5       3
13650.00       59416.67       13650.00   73066.67   1   5       3
15617.42       13322.08       15617.42   28939.50   1   5       3

 

 
 

 

Co-Borrower
Employment
Verification
  Borrower Asset
Verification
  Co-Borrower
Asset
Verification
  Liquid / Cash
Reserves
  Monthly Debt All
Borrowers
  Originator DTI   Fully Indexed
Rate
  Qualification
Method
  Percentage of Down
Payment from
Borrower Own
Funds
  City
    4       91037.67   7396.06   0.4116               Oakland
    4       137514.63   12080.55   0.3748               ORLANDO
    4       269426.10   8809.45   0.3725               PETALUMA
    4       252258.69   5903.59   0.3880               CLARENDON HILLS
    4       167749.59   4894.10   0.3369               Bay Village
    4       128359.72   8565.19   0.2189               GREENWOOD VILLAGE
    4       223546.44   12473.49   0.4105               HOUSTON
    4       96155.80   6407.33   0.3201           100   EDISON
    4       773212.07   3699.42   0.4887               Philadelphia
    4       2182906.07   10749.82   0.3847           100   DENVER
    4       78699.56   4386.90   0.2089           100   PALM BEACH GARDENS
    4       42328.69   3270.62   0.2030               CAREFREE
    4       1165895.63   19681.61   0.1881           100   CALISTOGA
    4       78820.53   4299.20   0.2257               ATLANTA
    4       61900.08   5765.35   0.3708           100   EL PASO
    4       82369.12   6213.18   0.4398               REDONDO BEACH
    4       277950.70   4746.64   0.2556               ATLANTA
    4       175325.40   14812.36   0.2032               Coloma
    4       453911.03   11151.47   0.3206           100   LAUDERDALE BY THE SEA
    4       2664376.70   21840.11   0.1159           100   PARADISE WAY
    4       89821.66   4259.54   0.3117               STONEHAM
    4       143347.70   7690.31   0.3386           100   BEDFORD
    4       481966.97   9936.70   0.4151           100   LOS GATOS
    4       203072.06   7143.67   0.2821               SAN DIEGO
    4       420575.89   9126.27   0.3034               Agoura Hills
    4       116779.16   5138.07   0.2972           100   ATLANTA
    4       71885.12   7326.70   0.4353           100   OAK PARK
    4       400340.47   5899.48   0.2861           100   Littleton
    4       21791.71   5272.21   0.4080               Franklin
    4       140625.98   6607.87   0.2589               JACKSONS GAP
    4       100853.43   7379.73   0.1010               WEST BLOOMFIELD
    4       431040.57   9231.99   0.3190           100   Peoria

 

 
 

 

State   Postal Code   Property Type   Occupancy   Sales Price   Original
Appraised
Property Value
  Original
Property
Valuation Type
  Original
Property
Valuation Date
  Original
Automated
Valuation Model
(AVM) Model
Name
  Original AVM
Confidence Score
CA   94611   1   1       1000000.00   3   20120106        
FL   32836   1   1       1095000.00   3   20120420        
CA   94952   1   1       1000000.00   3   20120428        
IL   60514   1   1       1000000.00   3   20120525        
OH   44140   1   1       1114000.00   3   20120605        
CO   80111   1   1       1531000.00   3   20120225        
TX   77024   7   1       1150000.00   3   20120313        
NJ   08820   1   1   860000.00   865000.00   3   20120316        
PA   19138   1   1       750000.00   98   20120418        
CO   80209   1   1   977000.00   977000.00   3   20120330        
FL   33418   7   1   710000.00   710000.00   3   20120404        
AZ   85377   1   1       1000000.00   3   20120418        
CA   94515   1   2   1395000.00   1425000.00   3   20120418        
GA   30306   1   1       745000.00   3   20120421        
TX   79922   1   1   800000.00   800000.00   3   20120416        
CA   90277   3   1       1035000.00   3   20120524        
GA   30306   1   1       810000.00   98   20120424        
MI   49038   1   2       1062500.00   3   20120628        
FL   33308   3   1   1000000.00   1070000.00   3   20120504        
AZ   85253   1   2   1357000.00   1360000.00   3   20120507        
MA   02180   1   1       617000.00   3   20120511        
NH   03110   1   1   865000.00   853000.00   3   20120504        
CA   95030   1   1   1900000.00   1790000.00   3   20120506        
CA   92106   1   1       1800000.00   3   20120608        
CA   91301   7   1       1150000.00   3   20120607        
GA   30319   7   1   760000.00   770000.00   3   20120526        
IL   60302   1   1   870000.00   882000.00   3   20120613        
CO   80123   1   1   803000.00   805000.00   3   20120629        
TN   37067   7   1       760000.00   3   20120419        
AL   36861   1   1       739000.00   3   20120517        
MI   48323   1   1       1700000.00   3   20120509        
AZ   85383   7   1   646800.00   700000.00   3   20120625        

 

 
 

 

Most Recent
Property
Value2
  Most Recent
Property
Valuation
Type
  Most Recent
Property
Valuation
Date
  Most Recent
AVM
Model Name
  Most Recent
AVM
Confidence Score
  Original CLTV   Original LTV   Original
Pledged
Assets
  Mortgage
Insurance
Company Name
  Mortgage
Insurance
Percent
                    0.8000   0.8000   0   0   0
                    0.7000   0.7000   0   0   0
                    0.7730   0.7730   0   0   0
                    0.5065   0.5065   0   0   0
                    0.4405   0.4405   0   0   0
                    0.5486   0.5486   0   0   0
                    0.6321   0.6321   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7066   0.7066   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7500   0.7500   0   0   0
                    0.5940   0.5940   0   0   0
                    0.6415   0.6415   0   0   0
                    0.7731   0.6724   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7120   0.7120   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7499   0.7499   0   0   0
                    0.7000   0.7000   0   0   0
                    0.7000   0.7000   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7000   0.7000   0   0   0
                    0.7413   0.7413   0   0   0
                    0.5138   0.5138   0   0   0
                    0.8000   0.8000   0   0   0
                    0.8000   0.8000   0   0   0
                    0.8000   0.8000   0   0   0
                    0.8000   0.8000   0   0   0
                    0.7552   0.7552   0   0   0
                    0.7286   0.7286   0   0   0
                    0.5535   0.5535   0   0   0
                    0.8000   0.8000   0   0   0

 

 
 

 

MI: Lender or
Borrower Paid?
  Pool Insurance
Co.
Name
  Pool Insurance
Stop
Loss %
  MI Certificate
Number
  Updated DTI
(Front-end)
  Updated DTI
(Back-end)
  Modification
Effective Payment
Date
  Total Capitalized
Amount
  Total Deferred
Amount
  Pre-Modification
Interest (Note)
Rate
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     
                                     

 

 
 

 

Pre-Modification
P&I
Payment
  Pre-Modification
Initial Interest Rate
Change Downward
Cap
  Pre-Modification
Subsequent
Interest
Rate Cap
  Pre-Modification
Next Interest Rate
Change Date
  Pre-Modification
I/O
Term
  Forgiven
Principal
Amount
  Forgiven
Interest
Amount
  Number of
Modifications
  Cash To/From
Brrw at
Closing
  Brrw - Yrs at in
Industry
                                    4
                                    25
                                    22
                                    21
                                    44
                                    3
                                    22
                                    14
                                    35
                                    10
                                    20
                                    25
                                    34
                                    15
                                    6
                                    30
                                    19
                                    21.5
                                    20
                                    11
                                    14
                                    7
                                    10
                                    29
                                    19
                                    23
                                    18
                                    21.25
                                    20
                                    20
                                    29
                                    20

 

 
 

 

CoBrrw - Yrs at
in Industry
  Junior Mortgage
Drawn Amount
  Maturity Date   Primary
Borrower Wage
Income (Salary)
  Primary
Borrower Wage
Income (Bonus)
  Primary Borrower
Wage Income
(Commission)
  Co-Borrower
Wage Income
(Salary)
  Co-Borrower
Wage Income
(Bonus)
  Co-Borrower
Wage Income
(Commission)
  Originator Doc
Code
  RWT Income
Verification
  RWT Asset
Verification
6   0.00   20420301   16666.66   0.00   0.00   3837.83   0.00   0.00   Full   Two Years   Two Months
0   0.00   20420701   32232.00   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
17   0.00   20420601   17624.53   0.00   0.00   6025.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420701   15215.45   0.00   0.00               Full   Two Years   Two Months
44   0.00   20420801   6039.33   0.00   0.00   5065.74   0.00   0.00   Full   Two Years   Two Months
5   0.00   20270401   39131.34   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
9   0.00   20270501   23731.46   0.00   0.00   15577.10   0.00   0.00   Full   Two Years   Two Months
10   0.00   20420601   10850.00   0.00   0.00   9166.65   0.00   0.00   Full   Two Years   Two Months
    0.00   20420601   7130.50   0.00   0.00               Full   Two Years   Two Months
    0.00   20420701   22083.34   0.00   0.00               Full   Two Years   Two Months
    0.00   20420601   21000.00   0.00   0.00               Full   Two Years   Two Months
0   0.00   20420601   16111.42   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
0   0.00   20420601   104633.75   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
0   74796.00   20420601   19048.30   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
5   0.00   20420701   15548.41   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
3   0.00   20420701   8782.25   0.00   0.00   4145.29   0.00   0.00   Full   Two Years   Two Months
16   0.00   20420601   10462.20   0.00   0.00   6856.88   0.00   0.00   Full   Two Years   Two Months
2   0.00   20420801   72910.92   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420601   34783.12   0.00   0.00               Full   Two Years   Two Months
5   0.00   20420601   188439.22   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420701   13665.51   0.00   0.00               Full   Two Years   Two Months
0   0.00   20420701   0.00   0.00   22712.09   0.00   0.00   0.00   Full   Two Years   Two Months
0   0.00   20420601   23938.09   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420701   25327.69   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420701   30083.96   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
19   0.00   20420801   17289.24   0.00   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
    0.00   20420801   11647.70   5185.49   0.00   0.00   0.00   0.00   Full   Two Years   Two Months
16   0.00   20420801   6534.42   0.00   0.00   14087.66   0.00   0.00   Full   Two Years   Two Months
2   0.00   20420701   7301.19   0.00   0.00   5620.57   0.00   0.00   Full   Two Years   Two Months
20   0.00   20420701   17916.66   0.00   0.00   7606.19   0.00   0.00   Full   Two Years   Two Months
    0.00   20420701   13650.00   59416.67   0.00               Full   Two Years   Two Months
    0.00   20420801   15617.42   13322.08   0.00               Full   Two Years   Two Months

 

 
 

 

MERSID   Organization
1000383   RRAC/Cenlar
1000324   Shore Financial Services, Inc.

 

 
 

 

ASF RMBS DISCLOSURE PACKAGE

 

The American Securitization Forum is a broad-based professional forum through which participants in the U.S. securitization market advocate their common interests on important legal, regulatory and market practice issues. ASF members include over 380 firms, including issuers, investors, servicers, financial intermediaries, rating agencies, financial guarantors, legal and accounting firms, and other professional organizations involved in securitization transactions. The ASF also provides information, education and training on a range of securitization market issues and topics through industry conferences, seminars and similar initiatives. For more information about ASF, its members and activities, please go to www.americansecuritization.com.

  

Field Number   Field Name   Field Description   Type of Field   Data Type   Sample Data   Format   When Applicable?   Valid Values   Proposed Unique Coding   Notes
                                         
1   Primary Servicer   The MERS Organization ID of the company that has or will have the right to service the loan.   General Information   Numeric – Integer   2351805   9(7)   Always   ”9999999” if Unknown        
2   Servicing Fee—Percentage   Aggregate monthly fee paid to all servicers, stated in decimal form.   General Information   Numeric - Decimal   0.0025   9.999999   Loans without flat-dollar servicing fees   >= 0 and < 1       Must be populated if Field 3 is Null
3   Servicing Fee—Flat-dollar   Aggregate monthly fee paid to all servicers, stated as a dollar amount.   General Information   Numeric – Decimal   7.5   9(3).99   Loans with flat-dollar servicing fees   >= 0 and
<= 999
      Must be populated if 2 is Null
4   Servicing Advance Methodology   The manner in which principal and/or interest are to be advanced by the servicer.   General Information   Numeric – Integer   2   99   Always   See Coding  

1 = Scheduled Interest, Scheduled Principal

2 = Actual Interest, Actual Principal

3 = Scheduled Interest, Actual Principal 99 = Unknown

   
5   Originator   The MERS Organization ID of the entity that lends funds to the borrower and, in return, places a lien on the mortgage property as collateral.   General Information   Numeric – Integer   5938671   9(7)   Always   ”9999999” if Unknown        
6   Loan Group   Indicates the collateral group number in which the loan falls (for structures with multiple collateral groups). Use “1” if there is only one loan group.   General Information   Text   1A   XXXX   Always   “UNK” if Unknown        
7   Loan Number   Unique National Mortgage Loan ID Number (Vendor TBD).   General Information   Numeric – Integer   TBD   TBD   Always   TBD       Details to be provided by Vendor
8   Amortization Type   Indicates whether the loan’s interest rate is fixed or adjustable (Hybrid ARMs are adjustable).   Loan Type   Numeric – Integer   2   99   Always   See Coding  

1 = Fixed

2 = Adjustable

99 = Unknown

   
9   Lien Position   A number indicating the loan’s lien position (1 = first lien, etc.).   Loan Type   Numeric – Integer   1   99   Always   >0   99 = Unknown    
10   HELOC Indicator   Indicates whether the loan is a home equity line of credit.   Loan Type   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
11   Loan Purpose   Indicates the purpose of the loan.   Loan Type   Numeric – Integer   9   99   Always   See Coding   See Appendix A    
12   Cash Out Amount   Cash Out Amount:   [New Loan] – [PIF Prior First Lien] – [Payoff of all Seasoned Seconds] – [Closing Costs] – [Prepays]

For delayed purchases (refinances on homes purchased < 12 months prior to the mortgage application) with cash)  Cash Out Amount = 0.
  Loan Type   Numeric – Decimal   72476.5   9(10).99   Always   >= 0        
13   Total Origination and Discount Points (in dollars)   Amount paid to the lender to increase the lender’s effective yield and, in the case of discount points, to reduce the interest rate paid by the borrower.   Loan Type   Numeric – Decimal   5250   9(10).99   Always   >= 0       Typically Lines 801 and 802 of HUD Settlement Statement
14   Covered/High Cost Loan Indicator   Indicates whether the loan is categorized as “high cost” or “covered” according to state or federal statutes or regulations.   Loan Type   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
15   Relocation Loan Indicator   Indicates whether the loan is part of a corporate relocation program.   Loan Type   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
16   Broker Indicator   Indicates whether a broker took the application.   Loan Type   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
17   Channel   Code indicating the source (channel) from which the Issuer obtained the mortgage loan.   Loan Type   Numeric – Integer   2   99   Always   See Coding  

1 = Retail

2 = Broker

3 = Correspondent Bulk

4 = Correspondent Flow with delegated underwriting

5 = Correspondent Flow without delegated underwriting

99 = Unknown

   
18   Escrow Indicator   Indicates whether various homeownership expenses are paid by the borrower directly or through an escrow account (as of securitization cut-off date).   Loan Type   Numeric – Integer   3   99   Always   See Coding  

0 = No Escrows

1 = Taxes

2 = Insurance

3 = HOA dues

4 = Taxes and Insurance

5 = All

99 =Unknown

   
19   Senior Loan Amount(s)   For non-first mortgages, the sum of the balances of all associated senior mortgages at the time of origination of the subordinate lien.    Mortgage Lien Info   Numeric – Decimal   611004.25   9(10).99   If Lien Position > 1   >= 0        
20   Loan Type of Most Senior Lien   For non-first mortgages, indicates whether the associated first mortgage is a Fixed, ARM, Hybrid, or negative amortization loan.   Mortgage Lien Info   Numeric – Integer   2   99   If Lien Position > 1   See Coding  

1 = Fixed Rate

2 = ARM

3 = Hybrid

4 = Neg Am

99 = Unknown

   
21   Hybrid Period of Most Senior Lien (in months)   For non-first mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest rate period for the hybrid first mortgage.   Mortgage Lien Info   Numeric – Integer   23   999  

If Lien Position > 1

AND the most senior lien is a hybrid ARM (see Field 20)

  >= 0        
22   Neg Am Limit of Most Senior Lien   For non-first mortgages where the associated first mortgage features negative amortization, the maximum percentage by which the negatively amortizing balance may increase (expressed as a proportion of the senior lien’s original balance).   Mortgage Lien Info   Numeric – Decimal   1.25   9.999999  

If Lien Position > 1

AND the senior lien is Neg Am (see Field 20)

  >= 1 and <= 2        
23   Junior Mortgage Balance   For first mortgages with subordinate liens at the time of origination, the combined balance of the subordinate liens (if known).   Mortgage Lien Info   Numeric – Decimal   51775.12   9(10).99   If Lien Position = 1 and there is a 2nd lien on the subject property   >= 0       Subject to Regulatory Confirmation
24   Origination Date of Most Senior Lien   For non-first mortgages, the origination date of the associated first mortgage.   Mortgage Lien Info   Date   20090914   YYYYMMDD   If Lien Position > 1 and there is a 2nd lien on the subject property   “19010101” if unknown        
25   Origination Date   The date of the Mortgage Note and Mortgage/Deed of Trust   Loan Term and Amortization Type   Date   20090914   YYYYMMDD   Always   “19010101” if unknown        

  

 
 

 

Field Number   Field Name   Field Description   Type of Field   Data Type   Sample Data   Format   When Applicable?   Valid Values   Proposed Unique Coding   Notes
                                         
26   Original Loan Amount   The dollar amount of the mortgage loan, as specified on the mortgage note at the time of the loan’s origination. For HELOCs, the maximum available line of credit.   Loan Term and Amortization Type   Numeric – Decimal   150000   9(10).99   Always   >0        
27   Original Interest Rate   The original note rate as indicated on the mortgage note.   Loan Term and Amortization Type   Numeric – Decimal   0.0475   9.999999   Always   > 0 and <= 1        
28   Original Amortization Term   The number of months in which the loan would be retired if the amortizing principal and interest payment were to be paid each month.   Loan Term and Amortization Type   Numeric – Integer   360   999   Always   >= 60        
29   Original Term to Maturity   The initial number of months between loan origination and the loan maturity date, as specified on the mortgage note.   Loan Term and Amortization Type   Numeric – Integer   60   999   Always   >0   N/A    
30   First Payment Date of Loan   The date of the first scheduled mortgage payment to be made by the borrower as specified on the mortgage note.   Loan Term and Amortization Type   Date   20090914   YYYYMMDD   Always   “19010101” if unknown   N/A    
31   Interest Type Indicator   Indicates whether the interest rate calculation method is simple or actuarial.   Loan Term and Amortization Type   Numeric – Integer   2   99   Always   See Coding  

1= Simple

2 = Actuarial

99 = Unknown

   
32   Original Interest Only Term   Original interest-only term for a loan in months (including NegAm Loans).   Loan Term and Amortization Type   Numeric – Integer   60   999   Always  

>= 0 and <= 240

Unknown = Blank;

No Interest Only Term = 0

       
33   Buy Down Period   The total number of months during which any buy down is in effect, representing the accumulation of all buy down periods.   Loan Term and Amortization Type   Numeric – Integer   65   999   Always  

>= 0 and <= 100

Unknown = Blank;

No Buy Down = 0

       
34   HELOC Draw Period   The original number of months during which the borrower may draw funds against the HELOC account.   Loan Term and Amortization Type   Numeric – Integer   24   999   HELOCs Only   >= 12 and <= 120        
35   Scheduled Loan Amount   Mortgage loan scheduled principal balance as of cut-off date. For HELOCs, the current drawn amount.   Loan Term and Amortization Type   Numeric – Decimal   248951.19   9(10).99   Always   >= 0        
36   Current Interest Rate   The interest rate used to calculate the current P&I or I/O payment.   Loan Term and Amortization Type   Numeric – Decimal   0.05875   9.999999   Always   > 0 and <= 1        
37   Current Payment Amount Due   Next Total Payment due to be collected (including principal, interest or both—but Exclude Escrow Amounts).   Loan Term and Amortization Type   Numeric – Decimal   1250.15   9(10).99   Always   > 0        
38   Scheduled Interest Paid
Through Date
      Loan Term and Amortization Type   Date   20090429   YYYYMMDD   Always   “19010101” if unknown        
39   Current Payment Status   Number of payments the borrower is past due as of the securitization cut-off date.   Loan Term and Amortization Type   Numeric – Integer   3   99   Always   >= 0        
40   Index Type   Specifies the type of index to be used to determine the interest rate at each adjustment.   Adjustable Rate Mortgages (ARMs)   Numeric – Integer   18   99   ARMs Only   See Coding   See Appendix B    
41   ARM Look-back Days   The number of days prior to the interest rate adjustment date to retrieve the index value.   Adjustable Rate Mortgages (ARMs)   Numeric – Integer   45   99   ARMs Only   >= 0 to <=99        
42   Gross Margin   The percentage stated on the mortgage note representing the spread between the ARM Index value and the mortgage interest rate. The gross mortgage margin is added to the index value to establish a new gross interest rate in the manner prescribed on the mortgage note.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.03   9.999999   ARMs Only   >0 and <= 1        
43   ARM Round Flag   An indicator of whether an adjusted interest rate is rounded to the next higher ARM round factor, to the next lower round factor, or to the nearest round factor.   Adjustable Rate Mortgages (ARMs)   Numeric – Integer   3   9   ARMs Only   See Coding  

0 = No Rounding

1 = Up

2 = Down

3 = Nearest

99=Unknown

   
44   ARM Round Factor   The percentage to which an adjusted interest rate is to be rounded.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.0025 or 0.00125   9.999999  

ARMs Only

Where ARM Round Flag = 1, 2, or 3

  >= 0 and < 1        
45   Initial Fixed Rate Period   For hybrid ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.   Adjustable Rate Mortgages (ARMs)   Numeric – Integer   60   999   Hybrid ARMs Only   >= 1 to <=240        
46   Initial Interest Rate Cap (Change Up)   The maximum percentage by which the mortgage note rate may increase at the first interest rate adjustment date.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.02   9.999999   ARMs Only   >= 0 and <= 1   99=no cap    
47   Initial Interest Rate  Cap (Change Down)   The maximum percentage by which the mortgage note rate may decrease at the first interest rate adjustment date.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.02   9.999999   ARMs Only   >= 0 and <= 1   99=no cap    
48   Subsequent Interest Rate Reset Period   The number of months between subsequent rate adjustments.   Adjustable Rate Mortgages (ARMs)   Numeric – Integer   60   999   ARMs Only   >=0 and <= 120       0 = Loan does not adjust after initial reset
49   Subsequent Interest Rate (Change Down)   The maximum percentage by which the interest rate may decrease at each rate adjustment date after the initial adjustment.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.02   9.999999   ARMs Only   >= 0 and <= 1   99=no cap    
50   Subsequent Interest Rate Cap (Change Up)   The maximum percentage by which the interest rate may increase at each rate adjustment date after the initial adjustment.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.02   9.999999   ARMs Only   >= 0 and <= 1   99=no cap    
51   Lifetime Maximum Rate (Ceiling)   The maximum interest rate that can be in effect during the life of the loan.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.125   9.999999   ARMs Only   >= 0 and <= 1       =1 if no ceiling specified
52   Lifetime Minimum Rate (Floor)   The minimum interest rate that can be in effect during the life of the loan.   Adjustable Rate Mortgages (ARMs)   Numeric – Decimal   0.015   9.999999   ARMs Only   >= 0 and <= 1       If no floor is specified enter the greater of the margin or 0.
53   Negative Amortization Limit   The maximum amount of negative amortization allowed before recast is required. (Expressed as a percentage of the original unpaid principal balance.)   Negative Amortization   Numeric – Decimal   1.25   9.999999   Negatively Amortizing ARMs Only   >=0, and <2        
54   Initial Negative Amortization Recast Period   The number of months in which the payment is required to recast if the loan does not reach the prescribed maximum balance earlier.   Negative Amortization   Numeric – Integer   60   999   Negatively Amortizing ARMs Only   >=0        
55   Subsequent Negative Amortization Recast Period   The number of months after which the payment is required to recast AFTER the first recast period.   Negative Amortization   Numeric – Integer   48   999   Negatively Amortizing ARMs Only   >=0        
56   Initial Fixed Payment Period   Number of months after origination during which the payment is fixed.   Negative Amortization   Numeric – Integer   60   999   Negatively Amortizing Hybrid ARMs Only   >= 0 to <=120        
57   Subsequent Payment Reset Period   Number of months between payment adjustments after first payment reset.   Negative Amortization   Numeric – Integer   12   999   Negatively Amortizing ARMs Only   >= 0 to <=120        
58   Initial Periodic Payment Cap   The maximum percentage by which a payment can change (increase or decrease) in the first period.    Negative Amortization   Numeric – Decimal   0.075   9.999999   Negatively Amortizing ARMs Only   >= 0 and < 1        
59   Subsequent Periodic Payment Cap   The maximum percentage by which a payment can change (increase or decrease) in one period after the initial cap.    Negative Amortization   Numeric – Decimal   0.075   9.999999   Negatively Amortizing ARMs Only   >= 0 and < 1        
60   Initial Minimum Payment Reset Period   The maximum number of months a borrower can initially pay the minimum payment before a new minimum payment is determined.   Negative Amortization   Numeric – Integer   12   999   Negatively Amortizing ARMs Only   >= 0 to <=120        
61   Subsequent Minimum Payment Reset Period   The maximum number of months (after the initial period) a borrower can pay the minimum payment before a new minimum payment is determined after the initial period.   Negative Amortization   Numeric – Integer   12   999   Negatively Amortizing ARMs Only   >= 0 to <=120        
62   Option ARM Indicator   An indicator of whether the loan is an Option ARM.   Negative Amortization   Numeric – Integer   1   99   ARMs Only   See Coding  

0 = No

1 = Yes

99 = Unknown

   
63   Options at Recast   The means of computing the lowest monthly payment available to the borrower after recast.   Option ARM   Numeric – Integer   2   99   Option ARMs Only   N/A  

1= Fully amortizing 30 year

2= Fully amortizing 15 year

3=Fully amortizing 40 year

4 = Interest-Only

5 = Minimum Payment

99= Unknown

   
64   Initial Minimum Payment   The initial minimum payment the borrower is permitted to make.   Option ARM   Numeric – Decimal   879.52   99   Option ARMs Only   >=0        
65   Current Minimum Payment   Current Minimum Payment (in dollars).   Negative Amortization   Numeric – Decimal   250   9(10).99   Option ARMs Only   >= 0        

 

 
 

 

Field Number   Field Name   Field Description   Type of Field   Data Type   Sample Data   Format   When Applicable?   Valid Values   Proposed Unique Coding   Notes
                                         
66   Prepayment Penalty Calculation   A description of how the prepayment penalty would be calculated during each phase of the prepayment penalty term.   Prepayment Penalties   Numeric – Integer   12   99   Always   See Coding   See Appendix C    
67   Prepayment Penalty Type  

Hard: The prepayment penalty is incurred regardless of the reason the loan is prepaid in full.
Hybrid: The prepayment penalty can be characterized as hard for a certain amount of time and as soft during another period.    

  Prepayment Penalties   Numeric – Integer   1   99   All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)   See Coding  

1 = Hard

2 = Soft

3 = Hybrid

99 = Unknown

   
68   Prepayment Penalty Total Term   The total number of months that the prepayment penalty may be in effect.   Prepayment Penalties   Numeric – Integer   60   999   All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)   >0 to <=120        
69   Prepayment Penalty Hard Term   For hybrid prepayment penalties, the number of months during which a “hard” prepayment penalty applies.   Prepayment Penalties   Numeric – Integer   12   999   Loans with Hybrid Prepayment Penalties (i.e., loans for which Field 67 = “3”)   >= 0 to <=120        
70   Primary Borrower ID   A lender-generated ID number for the primary borrower on the mortgage   Borrower   Numeric—Integer   123456789   999999999   Always   >0       Used to identify the number of times a single borrower appears in a given deal.
71   Number of Mortgaged Properties   The number of residential properties owned by the borrower that currently secure mortgage loans.   Borrower   Numeric – Integer   1   99   Always   > 0        
72   Total Number of Borrowers   The number of Borrowers who are obligated to repay the mortgage note.   Borrower   Numeric – Integers   2   99   Always   > 0        
73   Self-employment Flag   An indicator of whether the primary borrower is self-employed.   Borrower   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
74   Current ‘Other’ Monthly Payment   The aggregate of all payments pertaining to the subject property other than principal and interest (includes common charges, condo fees, T&I, HOA, etc.), whether escrowed or not.   Loan Term and Amortization Type   Numeric – Decimal   1789.25   9(10).99   Always   > 0        
75   Length of Employment: Borrower   The number of years of service with the borrower’s current employer as of the date of the loan.   Borrower Qualification   Numeric – Decimal   3.5   99.99   Always   >=0   99 = Retired, None employment income soure (social security, trust income, dividends, etc.)    
76   Length of Employment: Co-Borrower   The number of years of service with the co-borrower’s current employer as of the date of the loan.   Borrower Qualification   Numeric – Decimal   3.5   99.99   If “Total Number of Borrowers” > 1   >= 0   99 = Retired, None employment income soure (social security, trust income, dividends, etc.)    
77   Years in Home   Length of time that the borrower has been at current address.   Borrower Qualification   Numeric – Decimal   14.5   99.99   Refinances of Primary Residences Only (Loan Purpose = 1, 2, 3, 4, 8 or 9)   > 0        
78   FICO Model Used   Indicates whether the FICO score was calculated using the Classic, Classic 08, or Next Generation model.   Borrower Qualification   Numeric – Integer   1   99   If a FICO score was obtained   See Coding  

1 = Classic

2 = Classic 08

3 = Next Generation

99 = Unknown

   
79   Most Recent FICO Date   Specifies the date on which the most recent FICO score was obtained   Borrower Qualification   Date   20090914   YYYYMMDD   If a FICO score was obtained   “19010101” if unknown       Issuers unable to Provide may Rep and Warrant that the FICO score used for underwriting was not more than 4 months old at the date of issuance.
80   Primary Wage Earner Original FICO:  Equifax   Equifax FICO score for primary borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If a FICO score was obtained   >= 350 and <= 850        
81   Primary Wage Earner Original FICO:  Experian   Experian FICO score for primary borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If a FICO score was obtained   >= 350 and <= 850        
82   Primary Wage Earner Original FICO:  TransUnion   TransUnion FICO score for primary borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If a FICO score was obtained   >= 350 and <= 850        
83   Secondary Wage Earner Original FICO:  Equifax   Equifax FICO score for Co-borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If “Total Number of Borrowers” > 1   >= 350 and <= 850        
84   Secondary Wage Earner Original FICO:  Experian   Experian FICO score for Co-borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If “Total Number of Borrowers” > 1   >= 350 and <= 850        
85   Secondary Wage Earner Original FICO: TransUnion   TransUnion FICO score for Co-borrower (if applicable).   Borrower Qualification   Numeric – Integer   720   9999   If “Total Number of Borrowers” > 1   >= 350 and <= 850        
86   Most Recent Primary Borrower FICO   Most Recent Primary Borrower FICO score used by the lender to approve the loan.   Borrower Qualification   Numeric – Integer   720   9999   If a FICO score was obtained   >= 350 and <= 850        
87   Most Recent Co-Borrower FICO   Most Recent Co-Borrower FICO score used by the lender to approve the loan.   Borrower Qualification   Numeric – Integer   720   9999   If “Total Number of Borrowers” > 1   >= 350 and <= 850        
88   Most Recent FICO Method   Number of credit repositories used to update the FICO Score.   Borrower Qualification   Numeric – Integer   2   9   If a FICO score was obtained   >0        
89   VantageScore: Primary Borrower   Credit Score for the Primary Borrower used to approve the loan and obtained using the Vantage credit evaluation model.   Borrower Qualification   Numeric – Integer   720   9999   If a Vantage Credit Score was obtained   >= 501 and <= 990        
90   VantageScore: Co-Borrower   Credit Score for the Co-borrower used to approve the loan and obtained using the Vantage credit evaluation model.   Borrower Qualification   Numeric – Integer   720   9999   If a VantageScore was obtained AND “Total Number of Borrowers” > 1   >= 501 and <= 990        
91   Most Recent VantageScore Method   Number of credit repositories used to update the Vantage Score.   Borrower Qualification   Numeric – Integer   2   9   If a Vantage Credit Score was obtained   >0        
92   VantageScore Date   Date Vantage Credit Score was obtained.   Borrower Qualification   Date   20090914   YYYYMMDD   If a Vantage Credit Score was obtained   “19010101” if unknown        
93   Credit Report: Longest Trade Line   The length of time in months that the oldest active trade line, installment or revolving, has been outstanding. For a loan with more than one borrower, populate field based on status for the primary borrower.   Borrower Qualification   Numeric – Integer   999   999   Always   > =0       Subject to Regulatory Confirmation
94   Credit Report: Maximum Trade Line   The dollar amount for the trade line, installment or revolving, with the largest unpaid balance. For revolving lines of credit, e.g. credit card, the dollar amount reported should reflect the maximum amount of credit available under the credit line whether used or not. For a loan with more than one borrower, populate field based on status for the primary borrower.   Borrower Qualification   Numeric – Decimal   339420.19   9(10).99   Always   >=0       Subject to Regulatory Confirmation
95   Credit Report: Number of Trade Lines   A count of non-derogatory, currently open and active, consumer trade lines (installment or revolving) for the borrower. For a loan with more than one borrower, populate field based on status for the primary borrower.   Borrower Qualification   Numeric – Integer   57   999   Always   >=0       Subject to Regulatory Confirmation
96   Credit Line Usage Ratio   Sum of credit balances divided by sum of total open credit available.   Borrower Qualification   Numeric – Decimal   0.27   9.999999   Always   >= 0 and <= 1       Subject to Regulatory Confirmation
97   Most Recent 12-month Pay History   String indicating the payment status per month listed from oldest to most recent.   Borrower Qualification   Text   77X123200001   X(12)   Always   See Coding  

0 = Current

1 = 30-59 days delinquent

2 = 60-89 days delinquent

3 = 90-119 days delinquent

4 = 120+ days delinquent

5 = Foreclosure

6 = REO

7 = Loan did not exist in period

X = Unavailable

   
98   Months Bankruptcy   Number of months since any borrower was discharged from bankruptcy. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program—have passed since most recent discharge from bankruptcy.)   Borrower Qualification   Numeric – Integer   12   999   If Borrower has ever been in Bankruptcy   >= 0       Blank = Borrower is not known to have been in bankruptcy
99   Months Foreclosure   Number of months since foreclosure sale date. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program— have passed since most recent foreclosure.)   Borrower Qualification   Numeric – Integer   12   999   If Borrower has ever been in Foreclosure   >= 0       Blank = Borrower is not known to have been in foreclosure
100   Primary Borrower Wage Income   Monthly base wage income for primary borrower.   Borrower Qualification   Numeric – Decimal   9000   9(9).99   Always   >= 0        
101   Co-Borrower Wage Income   Monthly base wage income for all other borrowers.   Borrower Qualification   Numeric – Decimal   9000   9(9).99   If “Total Number of Borrowers” > 1   >= 0        
102   Primary Borrower Other Income   Monthly Other (non-wage) income for primary borrower. (This figure should include net rental income and be reduced by any net rental loss.)   Borrower Qualification   Numeric – Decimal   9000   9(9).99   Always   >= 0        
103   Co-Borrower Other Income   Monthly Other (non-wage) income for all other borrowers. (This figure should include net rental income and be reduced by any net rental loss.)   Borrower Qualification   Numeric – Decimal   9000   9(9).99   If “Total Number of Borrowers” > 1   >= 0        
104   All Borrower Wage Income   Monthly income of all borrowers derived from base salary only.   Borrower Qualification   Numeric – Decimal   9000   9(9).99   Always   >= 0        
105   All Borrower Total Income   Monthly income of all borrowers derived from base salary, commission, tips and gratuities, overtime and bonuses, part-time or second-job earnings, alimony, child support, interest and dividend income, notes receivable, trust income, net rental income, retirement income, social security, veterans income, military income, foster care income, and self-employed income.   Borrower Qualification   Numeric – Decimal   9000   9(9).99   Always   >= 0        
106   4506-T Indicator   A yes/no indicator of whether a Transcript of Tax Return (received pursuant to the filing of IRS Form 4506-T) was obtained and considered.   Borrower Qualification   Numeric – Integer   1   99   Always   See Coding  

0 = No

1 = Yes

99 = Unknown

   
107   Borrower Income Verification Level   A code indicating the extent to which the borrower’s income has been verified:
4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried) Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**) *For self-employed borrowers: Level 4 Income Verification:
• 2 Years Tax Returns
• Self-prepared tax returns (regardless of 4506 and tax transcripts)

** For self-employed borrowers: Level 5 Income Verification:
• 2 Years tax returns
• Tax returns prepared and not executed by a CPA, with
o CPA name & phone number shown on the Preparer section of the tax return
o Executed 4506 and tax transcripts (matching returns in file)
• Tax returns prepared and executed by a CPA (regardless of 4506 and tax transcripts)
  Borrower Qualification   Numeric – Integer   1   9   Always   See Coding   1 = Not Stated, Not Verified
2 = Stated, Not Verified
3 = Stated, “Partially” Verified
4 = Stated, “Level 4” Verified (as defined)
5 = Stated, “Level 5” Verified (as defined)
   

 

 
 

 

Field Number   Field Name   Field Description   Type of Field   Data Type   Sample Data   Format   When Applicable?   Valid Values   Proposed Unique Coding   Notes
                                         
108   Co-Borrower Income Verification   A code indicating the extent to which the co-borrower’s income has been verified:   Level 4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)   Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**) *For self-employed borrowers:  Level 4 Income Verification:
• 2 Years Tax Returns
• Self-prepared tax returns (regardless of 4506 and tax transcripts)

** For self-employed borrowers: Level 5 Income Verification:
• 2 Years tax returns
• Tax returns prepared and not executed by a CPA, with
          o CPA name & phone number shown on the Preparer section of the tax return
          o Executed 4506 and tax transcripts (matching returns in file) 
• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)
  Borrower Qualification   Numeric – Integer   2   9   If “Total Number of Borrowers” > 1   See Coding  

1 = Not Stated, Not Verified

2 = Stated, Not Verified

3 = Stated, “Partially” Verified

4 = Stated, “Level 4” Verified (as defined)

5 = Stated, “Level 5” Verified (as defined)

 
   
109   Borrower Employment Verification   A code indicating the extent to which the primary borrower’s employment has been verified:    Level 3 Verified = Direct Independent Verification with a third party of the borrower’s current employment.     Borrower Qualification   Numeric – Integer   2   9   Always   See Coding   1 = Not Stated, Not Verified  2 = Stated, Not Verified  3 = Stated, Level 3 Verified (as defined)      
110   Co-Borrower Employment Verification   A code indicating the extent to which the co-borrower’s employment has been verified:     Level 3 Verified = Direct Independent Verification with a third party of the co-borrower’s current employment.   Borrower Qualification   Numeric – Integer   1   9   If “Total Number of Borrowers” > 1   See Coding   1 = Not Stated, Not Verified  2 = Stated, Not Verified  3 = Stated, Level 3 Verified (as defined)    
111   Borrower Asset Verification  

A code indicating the extent to which the primary borrower’s assets used to qualify the loan have been verified:

 

  Level 4 Verified = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).  

  Borrower Qualification   Numeric – Integer   3   9   Always   See Coding  

1 = Not Stated, Not Verified

2 = Stated, Not Verified

3 = Stated, “Partially” Verified

4 = Stated, Level 4 Verified (as defined)

   
112   Co-Borrower Asset Verification  

A code indicating the extent to which the co-borrower’s assets used to qualify the loan have been verified:  

Level 4 = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).  

  Borrower Qualification   Numeric – Integer   2   9   If “Total Number of Borrowers” > 1   See Coding  

1 = Not Stated, Not Verified

2 = Stated, Not Verified

3 = Stated, “Partially” Verified

4 = Stated, Level 4 Verified (as defined)

   
113   Liquid / Cash Reserves   The actual dollar amount of remaining verified liquid assets after settlement. (This should not include cash out amount of subject loan.)   Borrower Qualification   Numeric – Decimal   3242.76   9(9).99   Always   >= 0        
114   Monthly Debt All Borrowers   The aggregate monthly payment due on other debt (excluding only installment loans with fewer than 10 payments remaining and other real estate loans used to compute net rental income— which is added/subtracted in the income fields).   Borrower Qualification   Numeric – Decimal   3472.43   9(9).99   Always   >= 0        
115   Originator DTI   Total Debt to income ratio used by the originator to qualify the loan.   Borrower Qualification   Numeric – Decimal