Contract

by Banc of America Funding 2006-8T2 Trust
December 14th, 2006
Exhibit 10.2(D) ---------------- [ EXECUTION COPY ] ---------------- ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT Assignment, Assumption and Recognition Agreement (the "Agreement"), dated November 29, 2006, is among Bank of America, National Association, a national banking association ("Assignor"), Banc of America Funding Corporation, a Delaware corporation ("BAFC"), U.S. Bank National Association, a national banking association, as trustee of the Banc of America Funding 2006-8T2 Trust ("Assignee"), Wells Fargo Bank, N.A., a national banking association ("Wells Fargo Bank"), as master servicer of the Banc of America Funding 2006-8T2 Trust and PHH Mortgage Corporation (the "Seller"). WHEREAS, pursuant to (i) that certain Mortgage Loan Flow Purchase, Sale and Servicing Agreement, dated as of August 1, 2005, by and among the Assignor, as purchaser, PHH Mortgage, as a seller and servicer, and Bishop's Gate Residential Mortgage Trust ("Bishop's Gate"), as a seller (as amended by (A) that certain Amendment No. 1, dated as of January 30, 2006, by and among the Assignor, the Seller and Bishop's Gate and (B) that certain Regulation AB Compliance Addendum, dated as of January 1, 2006, by and among the Assignor, the Seller and Bishop's Gate, the "Purchase and Servicing Agreement") and (ii) the related Warranty Bill of Sale, dated September 28, 2006, between the Assignor and the Seller, each of which is attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as defined herein) from the Seller and PHH Mortgage currently services the Mortgage Loans; WHEREAS, on the date hereof, the Assignor is transferring all of its right, title and interest in and to the Mortgage Loans to BAFC; WHEREAS, on the date hereof, BAFC is transferring all of its right, title and interest in and to the Mortgage Loans to the Assignee; and WHEREAS, on the date hereof, Wells Fargo Bank, as master servicer (in such capacity, the "Master Servicer"), is entering into a Pooling and Servicing Agreement, dated the date hereof (the "Pooling Agreement"), among BAFC, the Master Servicer, Wells Fargo Bank, as securities administrator (the "Securities Administrator"), and the Assignee, pursuant to which the Master Servicer will supervise, monitor and oversee the servicing of the Mortgage Loans. For and in consideration of the sum of one dollar ($1.00) and other valuable consideration the receipt and sufficiency of which are hereby acknowledged, and of the mutual covenants herein contained, the parties hereto hereby agree as follows: 1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC hereby grants, transfers and assigns to Assignee, all of the right, title and interest of the Assignor in, to and under the Purchase and Servicing Agreement, and the mortgage loans delivered under such agreement by the Seller to the Assignor and listed on Exhibit A attached hereto (the "Mortgage Loans"). The Assignor specifically reserves and does not assign to BAFC or the Assignee any right, title and interest in, to or under any mortgage loan subject to the Purchase and Servicing Agreement other than the Mortgage Loans. 2. The Assignor warrants and represents to, and covenants with, BAFC and the Assignee that: a. The Assignor is the lawful owner of the Mortgage Loans with the full right to transfer the Mortgage Loans free from any and all claims and encumbrances whatsoever; b. The Assignor has not received notice of, and has no knowledge of, any offsets, counterclaims or other defenses available to the Seller with respect to the Purchase and Servicing Agreement or the Mortgage Loans; c. The Assignor has not waived or agreed to any waiver under, or agreed to any amendment or other modification of, the Purchase and Servicing Agreement or the Mortgage Loans, including without limitation the transfer of the servicing obligations under the Purchase and Servicing Agreement. The Assignor has no knowledge of, and has not received notice of, any waivers under or amendments or other modifications of, or assignments of rights or obligations under, the Purchase and Servicing Agreement or the Mortgage Loans; and d. Neither the Assignor nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security from, or otherwise approached or negotiated with respect to the Mortgage Loans, any interest in the Mortgage Loans or any other similar security with, any person in any manner, or made any general solicitation by means of general advertising or in any other manner, or taken any other action which would constitute a distribution of the Mortgage Loans under the Securities Act of 1933, as amended (the "Securities Act"), or which would render the disposition of the Mortgage Loans a violation of Section 5 of the Securities Act or require registration pursuant thereto. 3. From and after the date hereof, (A) the Seller shall (i) note the transfer of the Mortgage Loans to the Assignee in their respective books and records, (ii) recognize the Assignee as the owner of the Mortgage Loans and (B) notwithstanding anything to the contrary contained in Sections 2.05 and 3.05 of the Purchase and Servicing Agreement, PHH Mortgage shall continue to service the Mortgage Loans pursuant to the Purchase and Servicing Agreement, as modified by Section 9 hereof, for the benefit of the Assignee. 2 4. The Seller acknowledges that the Master Servicer, pursuant to the Pooling Agreement, will administer on behalf of the Assignee the terms and conditions of the Purchase and Servicing Agreement. The Master Servicer shall be authorized to enforce directly against the Seller any of the obligations of the Seller to the Assignor or its assignees provided for in the Purchase and Servicing Agreement, including, without limitation, the right to exercise any and all rights of the Assignor (but not the obligations) under the Purchase and Servicing Agreement to monitor and enforce the obligations of the Seller thereunder, the right to terminate the Seller under the Purchase and Servicing Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Seller under the Purchase and Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Seller under the Purchase and Servicing Agreement, the right to examine the books and records of the Seller, indemnification rights, and the right to exercise certain rights of consent and approval relating to actions taken by the Seller. All remittances by the Seller shall be made to the account or accounts designated by the Master Servicer to the Seller in writing from time to time. Wire remittances shall be sent to: WELLS FARGO BANK, N.A., ABA# 121000248, FOR CREDIT TO: SAS CLEARING, ACCT: 3970771416, FFC TO: BAFC 2006-8T2 # 50964300. 5. The Seller hereby represents and warrants to each of the other parties hereto (i) that the representations and warranties of the Seller in Sections 3.01 of the Purchase and Servicing Agreement are true and correct in all material respects as of the date hereof with the same force and effect as though expressly made at and/or as of the date hereof, (ii) that it has taken no action nor omitted to take any required action the omission of which would have the effect of impairing any mortgage insurance or guarantee on the Mortgage Loans and (iii) that any information provided by it on or before the date hereof to any of the parties hereto is true and correct. PHH Mortgage hereby represents and warrants to each of the other parties hereto (i) that its representations and warranties in Section 3.02 of the Purchase and Servicing Agreement are true and correct in all material respects as of the date hereof with the same force and effect as though expressly made at and/or as of the date hereof and (ii) that it has serviced the Mortgage Loans in accordance with the terms of the Purchase and Servicing Agreement. 6. The Seller hereby agree to cooperate with BAFC, the Master Servicer and the Assignee to enable BAFC, the Master Servicer and the Securities Administrator to fully comply with all Securities and Exchange Commission ("SEC") disclosure and reporting requirements in effect from time to time with respect to the trust created by the Pooling Agreement (which shall be named "Banc of America Funding 2006-8T2 Trust") (the "Trust") and any securities representing ownership interests in or backed by assets of the Trust, including without limitation, the SEC's published rules regarding asset-backed securities (Release Nos. 33-8518; 34-50905; File No. S7-21-0433-8419). 7. PHH Mortgage hereby agrees that, in connection with each Mortgage Loan of which the related Mortgage has been recorded in the name of MERS or its designee, it shall take all actions as are necessary to cause the Assignee, as trustee of the Trust pursuant to the Pooling Agreement, to be shown as the owner 3 of such Mortgage Loan on the records of MERS for purposes of the system of recording transfers of beneficial ownership of mortgages maintained by MERS. 8. The Seller hereby agrees that it shall not substitute a Qualified Substitute Mortgage Loan for a Deleted Mortgage Loan. 9. The Seller hereby agrees to the following modifications to the Purchase and Servicing Agreement solely with respect to the Mortgage Loans: a. Section 6.02. The third paragraph of Section 6.02 is hereby modified to read as follows: Not later than the fifth (5th) Business Day of each month, the Servicer shall furnish to the Purchaser a delinquency report, a monthly remittance advice and a realized loss report, including the information set forth in Exhibit 6.02, in a form mutually agreeable in both physical form and content (including via website) and an electronic format mutually agreeable in both form and content as to the remittance on such Remittance Date and as to the period ending on the last day of the month preceding such Remittance Date. b. Exhibit 6.02. Exhibit 6.02 is hereby amended by inserting the provisions attached to this Agreement as Exhibit B at the end thereof. c. Section 7.07. Section 7.07 is hereby modified by replacing subsection (ii) with the following: "result in the imposition of a tax upon the REMIC (including but not limited to the tax on "prohibited transactions" as defined in Section 860F(a)(2) of the Code and the tax on "contributions" to a REMIC set forth in Section 860G(d) of the Code) unless the Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax." 10. Notwithstanding any provision in this Agreement to the contrary, it is understood that the Seller is not released from liability to the Assignor for any breaches of any representations, warranties or covenants made by the Seller in the Purchase and Servicing Agreement prior to the date hereof regardless of when such breaches are discovered or made known. 11. The Assignee's address for purposes of all notices and correspondence related to the Mortgage Loans and the Purchase and Servicing Agreement is: U.S. Bank National Association 209 S. LaSalle Street, Suite 300 Chicago, Illinois 60604 Attention: Structured Finance Trust Services, BAFC 2006-8T2 4 The Assignor's address for purposes of all notices and correspondence related to the Mortgage Loans and the Purchase and Servicing Agreement is: Bank of America, National Association 214 North Tryon Street Charlotte, North Carolina 28255 Attention: Managing Director BAFC's address for purposes of all notices and correspondence related to the Mortgage Loans is: Banc of America Funding Corporation 214 North Tryon Street Charlotte, North Carolina 28255 Attention: General Counsel and Chief Financial Officer [Signatures Follow] 5 IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and Recognition Agreement to be executed by their duly authorized officers as of the date first above written. Bank of America, National Association, Assignor By: /s/ Bruce W. Good ---------------------------------------- Name: Bruce W. Good Title: Prinipal U.S. Bank National Association, Assignee By: /s/ Melissa A. Rosal ---------------------------------------- Name: Melissa A. Rosal Title: Vice President Banc of America Funding Corporation By: /s/ Scott Evans ---------------------------------------- Name: Scott Evans Title: Senior Vice President PHH Mortgage Corporation By: /s/ Crissy Judge ---------------------------------------- Name: Crissy Judge Title: Assistant Vice President Acknowledged and Agreed as of the date first above written: Wells Fargo Bank, N.A., as Master Servicer By: /s/ Darron C. Woodus ---------------------------------------- Name: Darron C. Woodus Title: Assistant Vice President EXHIBIT A Schedule of Mortgage Loans (See the Free Writing Prospectus filed and accepted by the Securities and Exchange Commission on November 29, 2006, with a filing date of November 29, 2006, and accession number 0001379434-06-000010) Exhibit A EXHIBIT B Standard File Layout - Scheduled/Scheduled - --------------------------------------------------------------------------------------------------------------------- Column Name Description Decimal Format Comment Max Size - --------------------------------------------------------------------------------------------------------------------- SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20 define a group of loans. - --------------------------------------------------------------------------------------------------------------------- LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10 by the investor. - --------------------------------------------------------------------------------------------------------------------- SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10 Servicer. This may be different than the LOAN_NBR. - --------------------------------------------------------------------------------------------------------------------- BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, 30 file. It is not separated by first and First) last name. - --------------------------------------------------------------------------------------------------------------------- SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs 11 interest payment that a borrower is ($) expected to pay, P&I constant. - --------------------------------------------------------------------------------------------------------------------- NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6 Servicer. - --------------------------------------------------------------------------------------------------------------------- NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6 service fee rate as reported by the Servicer. - --------------------------------------------------------------------------------------------------------------------- SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6 reported by the Servicer. - --------------------------------------------------------------------------------------------------------------------- SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs 11 reported by the Servicer. ($) - --------------------------------------------------------------------------------------------------------------------- NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs 11 by the Servicer. ($) - --------------------------------------------------------------------------------------------------------------------- NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6 Servicer. - --------------------------------------------------------------------------------------------------------------------- ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6 calculate a forecasted rate. - --------------------------------------------------------------------------------------------------------------------- ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11 at the beginning of the processing cycle. ($) - --------------------------------------------------------------------------------------------------------------------- ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11 at the end of the processing cycle. ($) - --------------------------------------------------------------------------------------------------------------------- BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10 that the borrower's next payment is due to the Servicer, as reported by Servicer. - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11 applied. ($) - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10 first curtailment amount. - --------------------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs 11 curtailment amount, if applicable. ($) - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs 11 applied. ($) - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10 second curtailment amount. - --------------------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs 11 curtailment amount, if applicable. ($) - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11 applied. ($) - --------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10 third curtailment amount. - --------------------------------------------------------------------------------------------------------------------- Exhibit B-1 - --------------------------------------------------------------------------------------------------------------------- CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs 11 curtailment amount, if applicable. ($) - --------------------------------------------------------------------------------------------------------------------- PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11 reported by the Servicer. ($) - --------------------------------------------------------------------------------------------------------------------- PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10 Servicer. - --------------------------------------------------------------------------------------------------------------------- Action Code Key: 2 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution, 65=Repurchase,70=REO ---------------------------------------------- ACTION_CODE The standard FNMA numeric code used to indicate the default/delinquent status of a particular loan. - --------------------------------------------------------------------------------------------------------------------- INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs 11 reported by the Servicer. ($) - --------------------------------------------------------------------------------------------------------------------- SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs 11 if applicable. ($) - --------------------------------------------------------------------------------------------------------------------- NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs 11 applicable. ($) - --------------------------------------------------------------------------------------------------------------------- LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs 11 loss, if applicable. ($) - --------------------------------------------------------------------------------------------------------------------- SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs 11 amount due at the beginning of the cycle ($) date to be passed through to investors. - --------------------------------------------------------------------------------------------------------------------- SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs 11 investors at the end of a processing ($) cycle. - --------------------------------------------------------------------------------------------------------------------- SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11 reported by the Servicer for the current ($) cycle -- only applicable for Scheduled/Scheduled Loans. - --------------------------------------------------------------------------------------------------------------------- SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs 11 the service fee amount for the current ($) cycle as reported by the Servicer -- only applicable for Scheduled/Scheduled Loans. - --------------------------------------------------------------------------------------------------------------------- ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs 11 the Servicer for the current reporting ($) cycle -- only applicable for Actual/Actual Loans. - --------------------------------------------------------------------------------------------------------------------- ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs 11 service fee amount for the current ($) reporting cycle as reported by the Servicer -- only applicable for Actual/Actual Loans. - --------------------------------------------------------------------------------------------------------------------- PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11 borrower prepays on his loan as reported ($) by the Servicer. - --------------------------------------------------------------------------------------------------------------------- PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs 11 loan waived by the servicer. ($) - --------------------------------------------------------------------------------------------------------------------- MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10 Modification for the loan. - --------------------------------------------------------------------------------------------------------------------- MOD_TYPE The Modification Type. Varchar - value can be alpha 30 or numeric - --------------------------------------------------------------------------------------------------------------------- DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs 11 interest advances made by Servicer. ($) - ---------------------------------------------------------------------------------------------------------------------
Exhibit B-2 Calculation of Realized Loss/Gain Form 332- Instruction Sheet The numbers on the form correspond with the numbers listed below. Liquidation and Acquisition Expenses: ------------------------------------ 1. The Actual Unpaid Principal Balance of the Mortgage Loan. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is required. 2. The Total Interest Due less the aggregate amount of servicing fee that would have been earned if all delinquent payments had been made as agreed. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is required. 3. Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is required. 4-12. Complete as applicable. All line entries must be supported by copies of appropriate statements, vouchers, receipts, bills, canceled checks, etc., to document the expense. Entries not properly documented will not be reimbursed to the Servicer. 13. The total of lines 1 through 12. Credits: ------- 14-21. Complete as applicable. All line entries must be supported by copies of the appropriate claims forms, EOBs, HUD-1 and/or other proceeds verification, statements, payment checks, etc. to document the credit. If the Mortgage Loan is subject to a Bankruptcy Deficiency, the difference between the Unpaid Principal Balance of the Note prior to the Bankruptcy Deficiency and the Unpaid Principal Balance as reduced by the Bankruptcy Deficiency should be input on line 20. 22. The total of lines 14 through 21. Please note: For HUD/VA loans, use line (15) for Part A/Initial proceeds and line (16) for Part B/Supplemental proceeds. Total Realized Loss (or Amount of Any Gain) ------------------------------------------- 23. The total derived from subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis ( ). Exhibit B-3 Calculation of Realized Loss/Gain Form 332 WELLS FARGO BANK, N.A. CALCULATION OF REALIZED LOSS/GAIN Prepared by: ------------------- Date: ------------------- Phone: ------------------------- Email Address: ---------------------- --------------------- ------------------ ------------------ [ Servicer Loan No. ] [ Servicer Name ] [ Servicer Address ] [ ] [ ] [ ] [ ] [ ] [ ] --------------------- ------------------ ----------------- WELLS FARGO BANK, N.A. Loan No.---------------------------------- Borrower's Name:------------------------------------------------- Property Address:------------------------------------------------ Liquidation and Acquisition Expenses: (1) Actual Unpaid Principal Balance of Mortgage Loan $-------------(1) (2) Interest accrued at Net Rate --------------(2) (3) Accrued Servicing Fees --------------(3) (4) Attorney's Fees --------------(4) (5) Taxes --------------(5) (6) Property Maintenance --------------(6) (7) MI/Hazard Insurance Premiums --------------(7) (8) Utility Expenses --------------(8) (9) Appraisal/BPO --------------(9) (10) Property Inspections -------------(10) (11) FC Costs/Other Legal Expenses -------------(11) (12) Other (itemize) $------------(12) Cash for Keys-------------------------- ------------- HOA/Condo Fees------------------------- ------------- --------------------------------------- ------------- --------------------------------------- ------------- Total Expenses $------------(13) Credits: (14) Escrow Balance $------------(14) (15) HIP Refund -------------(15) (16) Rental Receipts -------------(16) (17) Hazard Loss Proceeds -------------(17) Exhibit B-4 (18) Primary Mortgage Insurance Proceeds -------------(18) (19) Pool Insurance Proceeds -------------(19) (20) Proceeds from Sale of Acquired Property -------------(20) (21) Other (itemize) -------------(21) --------------------------------------------- ------------- --------------------------------------------- ------------- Total Credits $------------(22) Total Realized Loss (or Amount of Gain) $------------(23) Exhibit B-5 Exhibit : Standard File Layout - Delinquency Reporting - --------------------------------------------- -------------------------------------------------------------- -------- -------------- Column/Header Name Description Decimal Format Comment - --------------------------------------------- -------------------------------------------------------------- -------- -------------- SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This may be different than the LOAN_NBR - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOAN_NBR A unique identifier assigned to each loan by the originator. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- CLIENT_NBR Servicer Client Number - --------------------------------------------- -------------------------------------------------------------- -------- -------------- SERV_INVESTOR_NBR Contains a unique number as assigned by an external servicer to identify a group of loans in their system. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BORROWER_FIRST_NAME First Name of the Borrower. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BORROWER_LAST_NAME Last name of the borrower. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- PROP_ADDRESS Street Name and Number of Property - --------------------------------------------- -------------------------------------------------------------- -------- -------------- PROP_STATE The state where the property located. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- PROP_ZIP Zip code where the property is located. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment is due to the MM/DD/YYYY servicer at the end of processing cycle, as reported by Servicer. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOAN_TYPE Loan Type (i.e. FHA, VA, Conv) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy filing. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY by the courts - --------------------------------------------- -------------------------------------------------------------- -------- -------------- BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either by MM/DD/YYYY Dismissal, Discharged and/or a Motion For Relief Was Granted. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As; - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the servicer with MM/DD/YYYY instructions to begin foreclosure proceedings. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY Action - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- EVICTION_COMPLETED_DATE The date the court revokes legal possession of the property MM/DD/YYYY from the borrower. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- OCCUPANT_CODE Classification of how the property is occupied. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- Exhibit B-6 - --------------------------------------------- -------------------------------------------------------------- -------- -------------- PROP_CONDITION_CODE A code that indicates the condition of the property. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- CURR_PROP_VAL The current "as is" value of the property based on brokers 2 price opinion or appraisal. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2 completed pursuant to a broker's price opinion or appraisal. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- If applicable: - --------------------------------------------- -------------------------------------------------------------- -------- -------------- DELINQ_STATUS_CODE FNMA Code Describing Status of Loan - --------------------------------------------- -------------------------------------------------------------- -------- -------------- DELINQ_REASON_CODE The circumstances which caused a borrower to stop paying on a loan. Code indicates the reason why the loan is in default for this cycle. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage MM/DD/YYYY Insurance Company. - --------------------------------------------- -------------------------------------------------------------- -------- -------------- MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY Insurer - --------------------------------------------- -------------------------------------------------------------- -------- -------------- POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_A_CLAIM_FILED_DATE Date FHA Part A Claim Was Filed With HUD MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- -------------- VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY - --------------------------------------------- -------------------------------------------------------------- -------- -------------- VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or dollar signs ($) - --------------------------------------------- -------------------------------------------------------------- -------- --------------
Exhibit B-7 Exhibit 2: Standard File Codes - Delinquency Reporting The Loss Mit Type field should show the approved Loss Mitigation Code as follows: o ASUM- Approved Assumption o BAP- Borrower Assistance Program o CO- Charge Off o DIL- Deed-in-Lieu o FFA- Formal Forbearance Agreement o MOD- Loan Modification o PRE- Pre-Sale o SS- Short Sale o MISC- Anything else approved by the PMI or Pool Insurer NOTE: Wells Fargo Bank will accept alternative Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other than those above are used, the Servicer must supply Wells Fargo Bank with a description of each of the Loss Mitigation Types prior to sending the file. The Occupant Code field should show the current status of the property code as follows: o Mortgagor o Tenant o Unknown o Vacant The Property Condition field should show the last reported condition of the property as follows: o Damaged o Excellent o Fair o Gone o Good o Poor o Special Hazard o Unknown Exhibit B-8 Exhibit 2: Standard File Codes - Delinquency Reporting, Continued The FNMA Delinquent Reason Code field should show the Reason for Delinquency as follows: ------------------------ --------------------------------------------------- Delinquency Code Delinquency Description ------------------------ --------------------------------------------------- 001 FNMA-Death of principal mortgagor ------------------------ --------------------------------------------------- 002 FNMA-Illness of principal mortgagor ------------------------ --------------------------------------------------- 003 FNMA-Illness of mortgagor's family member ------------------------ --------------------------------------------------- 004 FNMA-Death of mortgagor's family member ------------------------ --------------------------------------------------- 005 FNMA-Marital difficulties ------------------------ --------------------------------------------------- 006 FNMA-Curtailment of income ------------------------ --------------------------------------------------- 007 FNMA-Excessive Obligation ------------------------ --------------------------------------------------- 008 FNMA-Abandonment of property ------------------------ --------------------------------------------------- 009 FNMA-Distant employee transfer ------------------------ --------------------------------------------------- 011 FNMA-Property problem ------------------------ --------------------------------------------------- 012 FNMA-Inability to sell property ------------------------ --------------------------------------------------- 013 FNMA-Inability to rent property ------------------------ --------------------------------------------------- 014 FNMA-Military Service ------------------------ --------------------------------------------------- 015 FNMA-Other ------------------------ --------------------------------------------------- 016 FNMA-Unemployment ------------------------ --------------------------------------------------- 017 FNMA-Business failure ------------------------ --------------------------------------------------- 019 FNMA-Casualty loss ------------------------ --------------------------------------------------- 022 FNMA-Energy environment costs ------------------------ --------------------------------------------------- 023 FNMA-Servicing problems ------------------------ --------------------------------------------------- 026 FNMA-Payment adjustment ------------------------ --------------------------------------------------- 027 FNMA-Payment dispute ------------------------ --------------------------------------------------- 029 FNMA-Transfer of ownership pending ------------------------ --------------------------------------------------- 030 FNMA-Fraud ------------------------ --------------------------------------------------- 031 FNMA-Unable to contact borrower ------------------------ --------------------------------------------------- INC FNMA-Incarceration ------------------------ --------------------------------------------------- Exhibit B-9 Exhibit 2: Standard File Codes - Delinquency Reporting, Continued The FNMA Delinquent Status Code field should show the Status of Default as follows: ------------------------ --------------------------------------------------- Status Code Status Description ------------------------ --------------------------------------------------- 09 Forbearance ------------------------ --------------------------------------------------- 17 Pre-foreclosure Sale Closing Plan Accepted ------------------------ --------------------------------------------------- 24 Government Seizure ------------------------ --------------------------------------------------- 26 Refinance ------------------------ --------------------------------------------------- 27 Assumption ------------------------ --------------------------------------------------- 28 Modification ------------------------ --------------------------------------------------- 29 Charge-Off ------------------------ --------------------------------------------------- 30 Third Party Sale ------------------------ --------------------------------------------------- 31 Probate ------------------------ --------------------------------------------------- 32 Military Indulgence ------------------------ --------------------------------------------------- 43 Foreclosure Started ------------------------ --------------------------------------------------- 44 Deed-in-Lieu Started ------------------------ --------------------------------------------------- 49 Assignment Completed ------------------------ --------------------------------------------------- 61 Second Lien Considerations ------------------------ --------------------------------------------------- 62 Veteran's Affairs-No Bid ------------------------ --------------------------------------------------- 63 Veteran's Affairs-Refund ------------------------ --------------------------------------------------- 64 Veteran's Affairs-Buydown ------------------------ --------------------------------------------------- 65 Chapter 7 Bankruptcy ------------------------ --------------------------------------------------- 66 Chapter 11 Bankruptcy ------------------------ --------------------------------------------------- 67 Chapter 13 Bankruptcy ------------------------ --------------------------------------------------- Exhibit B-10 APPENDIX I ---------- Underlying Agreements --------------------- [Included as Exhibits 10.2(A) to 10.2(C) to the Current Report on Form 8-K pursuant to which this Assignment, Assumption and Recognition Agreement is filed]