Common use of Asset Reports Clause in Contracts

Asset Reports. On the Reporting Date, Seller will furnish to Buyer monthly electronic Mortgage Loan performance data in the form of Exhibit I attached hereto, including an Asset Schedule that includes all data fields required by FHA, VA, USDA and each Agency and any other additional data fields Buyer may reasonably request in order to determine the Market Value of the Eligible Assets, delinquency reports and static pool reports (i.e., delinquency, foreclosure and net charge-off reports) and monthly stratification reports summarizing the characteristics of the Mortgage Loans. Seller shall provide monthly representation and warranty claim reports as well as reports detailing any repurchases or indemnification. Seller shall also include in such monthly reports furnished to Buyer evidence that the investor codes with respect to any Modification Early Buyouts have been moved from the related GNMA investor code into the Nominee’s code.