Exhibit 10.6(F)
EXECUTION VERSION
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
January 31, 2006, 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 2006-1 Trust
("Assignee"), Xxxxx Fargo Bank, N.A., a national banking association ("Xxxxx
Fargo Bank"), as master servicer of the Banc of America Funding 2006-1 Trust,
Washington Mutual Bank fsb, a federally chartered savings bank ("WMB fsb"), and
Washington Mutual Bank (formerly known as Washington Mutual Bank, FA), a
federally chartered savings bank ("WMB");
WHEREAS, pursuant to (i) that certain Mortgage Loan Purchase and Sale
Agreement (Amended and Restated), dated as of July 1, 2003, by and among WMB
fsb, WMB and Assignor (as successor in interest to Banc of America Mortgage
Capital Corporation), as purchaser (as amended by (a) that certain Master
Assignment, Assumption and Recognition Agreement (the "MAAR") dated as of July
1, 2004, by and among Banc of America Mortgage Capital Corporation, the Assignor
and WMB and (b) that certain Regulation AB Amendment to the Mortgage Loan
Purchase and Sale Agreement, dated as of January 1, 2006, by and among
Washington Mutual Bank fsb, WMB and Assignor) (the "Purchase Agreement"), (ii)
the Servicing Agreement (Amended and Restated), dated as of July 1, 2003, by and
between the Assignor and WMB, as servicer (the "Servicer") (as amended by (a)
the MAAR and (b) that certain Regulation AB Amendment to the Servicing
Agreement, dated as of January 1, 2006, by and between WMB and Assignor) (the
"Servicing Agreement"), (iii) that certain Term Sheet, dated as of October 26,
2005, by and between the Assignor and WMB, (iv) that certain Term Sheet, dated
as of November 22, 2005, by and between the Assignor and WMB and (v) that
certain Term Sheet, dated as of December 22, 2005, by and between the Assignor
and WMB (each, a "Term Sheet" and collectively, the "Term Sheets" and together
with the Purchase Agreement and the Servicing Agreement, the "Underlying
Agreements"), each of which is attached in Appendix I hereto, the Assignor
purchased the Mortgage Loans (as defined herein) from WMB on a servicing
retained basis and WMB 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, Xxxxx 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, Xxxxx Fargo Bank, as securities administrator (in such
capacity, the "Securities
1
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 (a) the mortgage loans delivered under
the Underlying Agreements by WMB to the Assignor and listed on Exhibit A
attached hereto (the "Mortgage Loans") and (b) all rights and obligations under
the Underlying Agreements to the extent related to 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 Agreement and the Servicing Agreement other than the Mortgage
Loans.
The Assignee assumes all of the interests and rights of the Assignor under
the Underlying Agreements solely with respect to the Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC, WMB
and the Assignee that, as of the date hereof:
a. The Assignor is the lawful owner of the Mortgage Loans with the full
right to transfer the Mortgage Loans and any and all of the interests,
rights and obligations under the Underlying Agreements as they relate
to the Mortgage Loans free and clear 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 WMB with respect
to the Underlying Agreements 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 Underlying Agreements
or the Mortgage Loans. The Assignor has no knowledge of, and has not
received notice of, any waivers under or amendments or other
modifications of, or assignments of rights or obligations under, the
Purchase Agreement, the Servicing Agreement or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage
Loans, any interest in the Mortgage Loans or any other similar
security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Mortgage Loans, any interest in the
Mortgage Loans or any other similar security from, or otherwise
approached or negotiated with respect
to the Mortgage Loans, any interest in the Mortgage Loans or any other
similar security with, any person in any manner, or made any general
solicitation by means of general advertising or in any other manner,
or taken any other action which would constitute a distribution of the
Mortgage Loans under the Securities Act of 1933, 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, WMB shall (i) note the transfer of the
Mortgage Loans to the Assignee in its books and records and (ii) recognize the
Assignee as the owner of the Mortgage Loans. WMB acknowledges that the Master
Servicer, pursuant to the Pooling Agreement, will administer on behalf of the
Assignee the terms and conditions of the Servicing Agreement. The Master
Servicer shall be authorized to enforce directly against the Servicer any of the
obligations of the Servicer to the Assignor or its assignees provided for in the
Servicing Agreement, other than the indemnification obligations of the Servicer
to the Assignor only.
4. The Servicer hereby agrees to service the Mortgage Loans in accordance
with the terms of the Servicing Agreement, as modified by Section 8 herein, for
the benefit of the Assignee. All remittances by the Servicer shall be made to
the account or accounts designated by the Master Servicer to the Servicer in
writing from time to time. Wire remittances shall be sent to: XXXXX FARGO BANK,
N.A., ABA# 000000000, FOR CREDIT TO: SAS CLEARING, ACCT: 0000000000, FFC TO:
BAFC 2006-1 # 50892400.
5. WMB hereby represents and warrants severally and not jointly to each of
the other parties hereto (i) that the representations and warranties of WMB in
Section 3.2 of the Purchase 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 WMB 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.
6. In accordance with Section 2.1 of the Purchase Agreement, the Assignor
hereby instructs WMB, and WMB hereby agrees, to have Washington Mutual Bank fsb,
as the custodian, release from its custody and deliver the Collateral File (as
defined in the Purchase Agreement) for each Mortgage Loan to the Assignee, in
its capacity as custodian under the Pooling Agreement, at the address set forth
in Section 9 herein on or before the closing date of the related Pass-Through
Transfer (as defined in the Purchase Agreement).
7. WMB, WMB fsb, BAFC and the Assignee hereby agree to the following
modifications to the Purchase Agreement with respect to the Mortgage Loans:
Section 3.1. Section 3.1(aa) is hereby modified by replacing the
second sentence therein with the following:
"If such Mortgage Loan had at the time of origination a Loan-to-Value
Ratio in excess of 80%, the excess over 80% is and will be insured as
to payment defaults by a Primary Mortgage Insurance Policy."
8. The Servicer hereby agrees to the following modifications to the
Servicing Agreement with respect to the Mortgage Loans:
a. Article 1. The first sentence in the definition of "Monthly Remittance
Date" is hereby replaced in its entirety with the following:
"The eighteenth (18th) day (or if such day is not a Business Day, the
immediately preceding Business Day) of any month."
b. Section 3.2. Section 3.2(a) is modified by adding the following as the
second paragraph of such section:
"The Servicer shall provide to the Owner or any master servicer (the
"Master Servicer") (i) the information set forth in Exhibit A, Exhibit
B and Exhibit C and (ii) any other information the Master Servicer
reasonably requires (provided, that, the Servicer shall have no
obligation to provide to the Master Servicer any information pursuant
to this clause (ii) which is unduly burdensome or costly for the
Servicer to provide to the Master Servicer), in each case in such form
as the Master Servicer shall reasonably request, or in such form as
may be mutually agreed upon between the Servicer and the Master
Servicer, with respect to each Mortgage Loan serviced by the Servicer
no later than the fifth (5th) business day of each month, or if such
day is not a business day, the next business day, commencing on
February 6, 2006 to enable the Master Servicer to provide such
information to the securities administrator."
The exhibits referenced in this Section 8(b) are attached to this
Agreement on Exhibit B hereto.
c. For purposes of clarification, the Servicing Fee Rate is equal to
0.250% per annum.
d. For purposes of clarification, WAMU shall have no right to substitute
for a Mortgage Loan in case of a material breach of a representation
or warranty and shall be required to repurchase such Mortgage Loan as
provided in Section 3.3(b) of the Purchase Agreement.
9. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Underlying Agreements is:
U.S. Bank National Association
000 X. XxXxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Attention: Structured Finance Trust Services, BAFC 2006-1
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Underlying Agreements is:
Bank of America, National Association
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
000 Xxxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: General Counsel and Chief Financial Officer
WMB's address for purposes of all notices and correspondence related to the
Mortgage Loans is:
Washington Mutual Bank
0000 0xx Xxxxxx
XXX0000
Xxxxxxx, Xxxxxxxxxx 00000
Attention: General Counsel
The Servicer's address for purposes of all notices and correspondence
related to its role as Servicer of the Mortgage Loans is:
Washington Mutual Bank
0000 Xxxxxxx Xxxxxx, X000000
Xxxxxxxxxx, XX 00000
Attention: Investor Reporting
10. WMB hereby acknowledges that Xxxxx Fargo Bank, N.A. has been appointed
as the Master Servicer of the Mortgage Loans pursuant to the Pooling Agreement,
and therefore has the right to enforce all obligations of WMB, as they relate to
the Mortgage Loans, under the Underlying Agreements. Such right will include,
without limitation, the right to exercise any and all rights of the Assignor
(but not the obligations) under the Underlying Agreements to monitor and enforce
the obligations of WMB thereunder, the right to terminate WMB under the
Underlying Agreements upon the occurrence of an event of default thereunder, the
right to receive all remittances required to be made by WMB under the Underlying
Agreements, the right to receive all monthly reports and other data required to
be delivered by WMB under the Underlying Agreements, the right to examine the
books and records of WMB, the right to enforce the Owner's indemnification
rights, and the right to exercise certain rights of consent and approval
relating to actions taken by WMB.
Notwithstanding anything to the contrary herein, the Master Servicer
hereby acknowledges and agrees that the Master Servicer's authority to enforce
the obligations of WMB under the Servicing Agreement is solely in a
representative capacity and that in no event shall the Master Servicer be
entitled to receive indemnification rights from WMB, except as provided in
Section 8.9(b) of the Servicing Agreement. Notwithstanding anything to the
contrary herein, nothing shall limit the indemnification rights granted to the
Assignor under the Servicing Agreement or to the Trustee as Assignee under this
Agreement.
11. Capitalized terms used by not defined herein shall have the meanings
assigned to them in the Underlying Agreements.
12. This Agreement shall be construed in accordance with the laws of the
State of New York, without regard to conflicts of law principles, and the
obligations, rights and remedies of the parties hereunder shall be determined in
accordance with such laws.
13. 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.
14. This Agreement shall inure to the benefit of the successors and assigns
of the parties hereto. Any entity into which the Assignor, the Assignee, WMB,
WMB fsb or BAFC may be merged or consolidated shall, without the requirement for
any further writing, be deemed the Assignor, the Assignee, WMB, WMB fsb or BAFC,
respectively, hereunder.
15. This Agreement shall survive the conveyance of the Mortgage Loans and
the assignment of Underlying Agreements to the extent of the Mortgage Loans by
the Assignor to the Assignee and the termination of the Underlying Agreements.
16. 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.
[Signatures Follow]
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/ Xxxxx X. Good
------------------------------------
Name: Xxxxx X. Good
Title: Vice President
U.S. Bank National Association,
Assignee
By: /s/ Xxxxxxx X. Xxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
Banc of America Funding Corporation
By: /s/ Xxxxx Xxxxx
------------------------------------
Name: Xxxxx Xxxxx
Title: Senior Vice President
Washington Mutual Bank
By: /s/ Xxxxxxxxx Xxxxx
------------------------------------
Name: Xxxxxxxxx Xxxxx
Title: Vice President
Washington Mutual Bank fsb
By: /s/ Xxxxxxxxx Xxxxx
------------------------------------
Name: Xxxxxxxxx Xxxxx
Title: Vice President
Acknowledged and Agreed
as of the date first above written:
Xxxxx Fargo Bank, N.A., as Master Servicer
By: /s/ Xxxxxx Xxxxxxx
---------------------------------
Name: Xxxxxx Xxxxxxx
Title: Assistant Vice President
EXHIBIT A
Schedule of Mortgage Loans
1
EXHIBIT B
EXHIBIT A
REALIZED LOSS CALCULATION INFORMATION
XXXXX FARGO BANK, N.A.
Form 332
Calculation of Realized Loss
Purpose
To provide the Servicer with a form for the calculation of any Realized Loss (or
gain) as a result of a Mortgage Loan having been foreclosed and Liquidated.
Distribution
The Servicer will prepare the form in duplicate and send the original together
with evidence of conveyance of title and appropriate supporting documentation to
the Master Servicer with the Monthly Accounting Reports which supports the
Mortgage Loan's removal from the Mortgage Loan Activity Report. The Servicer
will retain the duplicate for its own records.
Due Date
With respect to any liquidated Mortgage Loan, the form will be submitted to the
Master Servicer no later than the date on which statements are due to the Master
Servicer under Section 4.02 of this Agreement (the "Statement Date") in the
month following receipt of final liquidation proceeds and supporting
documentation relating to such liquidated Mortgage Loan; provided, that if such
Statement Date is not at least 30 days after receipt of final liquidation
proceeds and supporting documentation relating to such liquidated Mortgage Loan,
then the form will be submitted on the first Statement Date occurring after the
30th day following receipt of final liquidation proceeds and supporting
documentation.
Preparation Instructions
The numbers on the form correspond with the numbers listed below.
1. The actual Unpaid Principal Balance of the Mortgage Loan.
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.
3-7. Complete as necessary. All line entries must be supported by copies of
appropriate statements, vouchers, receipts, canceled checks, etc., to
document the expense. Entries not properly documented will not be
reimbursed to the Servicer.
8. Accrued Servicing Fees based upon the Scheduled Principal Balance of the
Mortgage Loan as calculated on a monthly basis.
10. The total of lines 1 through 9.
1
Credits
11-17. Complete as necessary. All line entries must be supported by copies of
the appropriate claims forms, 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 16.
18. The total of lines 11 through 17.
Total Realized Loss (or Amount of Any Gain)
19. The total derived from subtracting line 18 from 10. If the amount
represents a realized gain, show the amount in parenthesis ( ).
XXXXX FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS
--------------------------------------------------------------------------------
XXXXX FARGO BANK, N.A. Trust: ___________________________
Prepared by: __________________ Date: _______________
Phone: ______________________
----------------- ------------- ----------------
Servicer Loan No. Servicer Name Servicer Address
----------------- ------------- ----------------
XXXXX FARGO BANK, N.A.
Loan No. _____________________________
Borrower's Name: _______________________________________________________________
Property
Address: _______________________________________________________________________
LIQUIDATION AND ACQUISITION EXPENSES:
Actual Unpaid Principal Balance of Mortgage Loan $ _______________ (1)
Interest accrued at Net Rate _________________ (2)
Attorney's Fees _________________ (3)
Taxes _________________ (4)
Property Maintenance _________________ (5)
MI/Hazard Insurance Premiums _________________ (6)
Hazard Loss Expenses _________________ (7)
Accrued Servicing Fees _________________ (8)
Other (itemize) _________________ (9)
________________________________________________ $ _______________
________________________________________________ _________________
________________________________________________ _________________
________________________________________________ _________________
TOTAL EXPENSES $ _______________ (10)
CREDITS:
Escrow Balance $ _______________ (11)
HIP Refund _________________ (12)
Rental Receipts _________________ (13)
Hazard Loss Proceeds _________________ (14)
Primary Mortgage Insurance Proceeds _________________ (15)
Proceeds from Sale of Acquired Property _________________ (16)
Other (itemize) _________________ (17)
________________________________________________ _________________
________________________________________________ _________________
TOTAL CREDITS $________________ (18)
TOTAL REALIZED LOSS (OR Amount OF GAIN) $________________ (19)
EXHIBIT B
FORM OF SERVICER INFORMATION - WMB
The following information will be e-mailed to the Master Servicer by
WMB:
LOAN NUMBER
INTEREST RATE
PENDING RATE
SCHED P&I PMT
SCHEDULED PRINCIPAL
GROSS INTEREST
CURTAILMENT COLL
PIF PRINCIPAL
PIF INTEREST DIFF
ARM INDEX
PEND INDEX
ENDING SCHED BAL
INVESTOR LOAN NUM
SERVICE FEE RATE
DUE DATE
YIELD RATE
BEGINNING BALANCE
ENDING BALANCE
BEGINNING SCHED BAL
PRINCIPAL COLLECTED
SCHEDULED NET INT
SCHEDULED BUYDOWN
SERVICE FEE COLL
REMITTANCE AMOUNT
In addition, a hard copy of the following information will be sent to the Master
Servicer by WMB:
DELINQUENCIES:
1-30
31-60
61-90
91 +
Foreclosures
REO Properties
EXHIBIT C
STANDARD FILE LAYOUT - SCHEDULED/SCHEDULED
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MAX
COLUMN NAME DESCRIPTION DECIMAL FORMAT COMMENT SIZE
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SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
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LOAN_NBR A unique identifier assigned to each Text up to 10 digits 10
loan by the investor.
-----------------------------------------------------------------------------------------------------------------------
SERVICER_LOAN_NBR A unique number assigned to a loan by Text up to 10 digits 10
the Servicer. This may be different than
the LOAN_NBR.
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BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, First) 30
file. It is not separated by first and
last name.
-----------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled monthly principal and 2 No commas(,) or dollar signs ($) 11
scheduled interest payment that a
borrower is expected to pay, P&I
constant.
-----------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by 4 Max length of 6 6
the 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 ($) 11
applied.
-----------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
-----------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-----------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
-----------------------------------------------------------------------------------------------------------------------
ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2
indicate the default/delinquent status 30=Foreclosure,
of a particular loan. 60=PIF, 63=Substitution,
65=Repurchase,70=REO
-----------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-----------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, 2 No commas(,) or dollar signs ($) 11
if 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.
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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.
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ACTL_NET_INT The actual gross interest amount less 2 No commas(,) or dollar signs ($) 11
the service fee amount for the current
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
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PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs ($) 11
borrower prepays on his loan as reported
by the Servicer.
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PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs ($) 11
loan waived by the servicer.
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MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
-----------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha or 30
numeric
-----------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11
interest advances made by Servicer.
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APPENDIX I
Underlying Agreements
[Attached hereto]